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
Requirements
NoneNot necessary, but it is highly recommended that in part E you use Microsoft Excel for the practice tasks. Alternatively, it is still fine to do them with pen and paper.
Description
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.
Who this course is for:ACCA students seeking to pass the FA exam from the first attemptAnyone with zero previous experience who wants to learn the basics of financial accountingUniversity students studying accounting seeking clear and concise explanations