Course Brief

Financial Accounting aims at developing knowledge and understanding of the
underlying principles and concepts relating to financial accounting and technical proficiency in the use of double-entry accounting techniques including the preparation of basic financial statements.


  • This course is offered in 70 hours

On successful completion of this paper, 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.

Course Content

  • The context and purpose of financial reporting.
  • The qualitative characteristics of financial information. 
  • The use of double-entry and accounting systems.
  • Preparing a trial balance.
  • Recording transactions and events.
  • Preparing basic financial statements.
  • Preparing simple consolidated financial statements.
  • Interpretation of financial statements.

The syllabus is assessed by:

  • A two hour computer-based examination.
  • Questions will assess all parts of the syllabus and will test
    knowledge and some comprehension or application of this knowledge.
  • The examination will consist of two sections. Section A will contain 35 two mark objective questions. Section B will contain 2 fifteen mark multi-task questions. These will test consolidations and accounts preparation. The consolidation question could include a small amount of interpretation and the accounts
    preparation question could be set in the context of a sole trader or a limited company.
  • The Association of Chartered Certified Accountants (ACCA)

    The Association of Chartered Certified Accountants (ACCA) offers a professional qualification, which has been recognised and respected across the world for over 100 years. ACCA is currently the largest British accountancy body with over 180,000 members and 480,000 students in 181 countries.

    January - June 2018 Semester Schedules for ACCA:

    Click for more information on BPP / SBCS Blended Learning


    Collect more Certifications along your journey towards ACCA Membership!

    Gain a Diploma in Accounting and Business when you pass the first three exams of the ACCA Qualification (F1, F2 and F3), and the Foundations in Professionalism (FIP) ethics module.

    An Advanced Diploma in Accounting and Business can also be achieved by successfully completing all exams in the Fundamental level (F1 – F9) of the ACCA programme and the Ethics and Professional Skills module.

    Get a BSc (Hons) degree in Applied Accounting at the same time as becoming a qualified accountant through ACCA’s partnership with Oxford Brookes University (OBU). This is the perfect way to gain an extra qualification without doubling your workload. Having this degree with an ACCA qualification is a powerful combination of qualifications, which puts you in demand with employers, and increases your career prospects.

    To achieve this, you need to:

    • Pass your ACCA Qualification exams
    • Pass the Ethics and Professional Skills Module
    • Submit a research and analysis project.

    Expand your potential; go beyond ACCA!

    ACCA graduates can seamlessly progress to one of our Edinburgh Business School, Heriot-Watt University MBA or MSc programmes, which we have been offering for over 24 years

    ACCA graduates can gain a fast-track entry through free-of-charge credit transfer and exemption when they matriculate for the MSc in Financial Management or the MBA programme offered by Edinburgh Business School, Heriot-Watt University.

    Entitlement to credit transfer or exemption will be assessed on an individual basis. A maximum of four exemptions from the nine-module programme may be available.


    Alumni Voice

    Don't just take our word for it; read what our graduates have to say about pursuing ACCA at SBCS!

  • Financial Accounting aims at developing knowledge and understanding of the
    underlying principles and concepts relating to financial accounting and technical proficiency in the use of double-entry accounting techniques including the preparation of basic financial statements.