Learn the underlying principles and concepts of financial accounting, accounting techniques and the preparation of basic financial statements. You’ll demonstrate technical proficiency in the use of double-entry techniques, including the preparation and interpretation of basic financial statements for sole traders, partnerships, companies and simple groups of companies.
FA: An overview
Financial Accounting (FA) aims to develop knowledge and understanding of the basic principles
and concepts of financial accounting. It also provides the technical skills for using double-entry
accounting techniques. This knowledge is the platform to then develop further in more complex
accounting issues covered in the skills and strategic papers, FR and SBR.
On successful completion of this exam, candidates should be able to:
- Explain the context and purpose of financial reporting
- Define the qualitative characteristics of financial information
- Demonstrate the use of double-entry and accounting systems
- Record transactions and events.
- Prepare a trial balance (including identifying and correcting errors).
- Prepare basic financial statements for incorporated and unincorporated entities.
- Prepare simple consolidated financial statements.
- Interpretation of financial statements.
- Lectures 0
- Quizzes 0
- Duration 54 hours
- Skill level Beginner
- Language English
- Students 100
- Assessments Yes