ACCA Financial Accounting (FA/FFA)

Pathway to passing ACCA FA/FFA exam; financial accounting basics under IFRS

What you'll learn:

• Why and for whom the businesses prepare financial statements
• What are the qualitative characteristics of financial information
• How to use the double-entry and accounting systems
• How to record transactions and events in the books
• How to prepare a trial balance (including identifying and correcting errors)
• How to prepare basic financial statements for incorporated and unincorporated entities
• How to prepare simple consolidated financial statements
• How to give interpretation of financial statements

IMPORTANT NOTE for those taking the exam in Aug 2022 - Sep 2023: the course content is fully up-to-date and matches the latest ACCA FA/FFA syllabus.

The course is based on the ACCA Financial Accounting (FA/FFA) official syllabus, which is one of the top standards in the accounting industry since ACCA aims to ensure that its qualifications are recognised and valued by governments and regulatory authorities and employers across all sectors. ACCA qualifications have even been recognised on the educational frameworks in several countries.

FA/FFA is a foundation level paper in ACCA qualification followed by Financial Reporting (FR) and Strategic Business Reporting (SBR)

All the lectures are referenced to and mostly follow the order of the FA/FFA syllabus to help you navigate through the course. Also, you may easily find quizzes relevant to each section of the syllabus.

The course aims to enable you to record most of the transactions and events of a simple business, to prepare and give basic interpretation of the financial statements, and also to produce simple consolidated financial statements. International Financial Reporting Standards (IFRS) are used as an accounting and reporting framework in FA/FFA paper and in this course.

If you are a beginner, it is highly recommended to follow the lectures in the order as they are presented in the course. If you are familiar with the syllabus and simply want to revise a few topics, I would recommend to start from the beginning of each subsection (e.g. C2, D1, E5, etc.) because the examples used in one subsection may sometimes follow through several lectures.

The mix of lectures, short practice questions, and tutor support throughout the course guarantees you the opportunity to master all the basic accounting skills and also get ready for your ACCAFA/FFA exam.

November 2022 - A quick update from your tutor

DATES

Demonstrating perhaps an unusual level of honesty, I am going to confirm that I did not update the dates in my course since having it published in 2021. You will still find years 2019 and 2020 in the exercises (instead of 20X9 and 20X0 in some other materials that could have been produced 10 years ago sometimes). Which approach is better still remains a subject for methodological discussion; any opinions are appreciated.

At this stage, considering there were no changes to the ACCA syllabus, I can assure you that the course content remains up-to-date. The changes will follow in their due time with the syllabus update.

SUPPORT

I am happy to answer any of your questions as you progress through the course. Usually I do it within 24 hours. I had zero missed questions in 2021-2022. If this happens, please send me a direct message.

CONNECT

Feel free to add me on LinkedIn. I am always glad to hear from my students.