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.
- 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 2020 Semester Schedules for ACCA (Champs Fleurs):
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 Applied Knowledge modules (AB, MA and FA), 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 ACCA Applied Knowledge and ACCA Applied Skills exams (AB – FM) of the ACCA programme and the Ethics and Professional Skills module.
Completion of the Advanced Diploma and successful completion of the Strategic Professional exams (SBL - Strategic Business Leader, SBR - Strategic Business Reporting and two option modules) will allow you to become an ACCA affiliate.
As part of your journey to becoming a qualified ACCA member, you will be required to complete the Ethics and Professional Skills Module which supplements your technical knowledge of the programme by helping to develop ethical and professional behaviours. You must also demonstrate relevant skills and experience within a real work environment. This is what the PER (Practical Experience Requirement) is all about.
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 members 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 members 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.
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.The syllabus for Paper Financial Accounting (FA)/FFA introduces the candidate to the fundamentals of the regulatory framework relating to accounts preparation and to the qualitative characteristics of useful information. The syllabus then covers drafting financial statements and the principles of accounts preparation. The syllabus then concentrates in depth on recording, processing, and reporting business transactions and events. The syllabus then covers the use of the trial balance and how to identify and correct errors, and then the preparation of financial statements for incorporated and unincorporated entities. The syllabus then moves in two directions, firstly requiring candidates to be able to conduct a basic interpretation of financial statements; and secondly requiring the preparation of simple consolidated financial statements from the individual financial statements of group incorporated entities