ACCA FA1 Recording Financial Transactions

ACCA Foundation level. Foundation in Accountancy (FIA). Introductory certificate in financial and management accounting.
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24 students enrolled
Instructed by Ruth McDougall Business / Finance
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  • Lectures 27
  • Length 3.5 hours
  • Skill Level Beginner Level
  • Languages English
  • Includes Lifetime access
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    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 7/2015 English

Course Description

ACCA's FA1 Recording financial transactions paper is the first paper in the ACCA's foundation level qualification. It is an international course which aims to introduce students to the basic accounting systems up to the trial balance stage and the types of documentation you would encounter in the workplace.

No previous knowledge of accounting, additional material or software is required for this paper. In order to sit the ACCA exam students must apply direct to ACCA for student membership and exam entry.

In this course students will learn about:

  • Business transactions, the banking system and double entry bookkeeping
  • Payroll and ledger accounts
  • Reconciliation and preparing the trial balance

This course is for complete beginners, providing a starting point for those wanting to pursue a career in accounting as an accounting technician or those wanting to become a professional accountant but who may not meet the entry requirements to start their studies straight away with the ACCA qualification.

What are the requirements?

  • No accounting experience required for this course

What am I going to get from this course?

  • Understanding the basic types of business transactions & documentation
  • Understanding duality of transactions & the double entry system
  • Understanding the basics of the banking system & transactions
  • Understanding the basics of payroll
  • Introduction to ledger accounts
  • Understanding to the basics of cash & bank
  • Introduction to sales & credit transactions
  • Introduction to purchases & credit transactions
  • Introduction to reconciliations
  • Preparing the trial balance

What is the target audience?

  • This course is for complete beginners, providing a starting point for those wanting to pursue a career in accounting as an accounting technician or those wanting to become a professional accountant but who may not meet the entry requirements to start their studies straight away with the ACCA qualification

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Introduction
Introduction to recording financial transactions
Preview
05:03
Section 2: Types of business transactions
Key Terms
Preview
Article
Types of business transactions
Preview
14:03
Types of business transactions quiz
9 questions
Key Terms
Article
Discounts, coding & sales tax
07:36
Illustration
9 pages
Discounts, coding & sales tax quiz
10 questions
Section 3: Double entry bookkeeping
Key Terms
Article
Double entry bookkeeping introduction
08:32
Double entry bookkeeping introduction quiz
4 questions
Key Terms
Article
Double entry bookkeeping continued
16:10
Double entry bookkeeping continued quiz
10 questions
Section 4: The banking process
Key Terms
Article
The banking process
14:07
The banking process quiz
10 questions
Section 5: Sales & sales records
Key Terms
Article
Monitoring & controlling sales
14:29
Monitoring & controlling sales quiz
10 questions
Key Terms
Article
Sales day book & sales ledger
11:04
Sales day book & sales ledger
10 questions
Section 6: Purchases and purchase records
Key Terms
Article
Monitoring & controlling purchases
11:40
Monitoring & controlling purchases quiz
8 questions
Key Terms
Article
Purchase day book and purchase ledger
09:25
Purchase day book and purchase ledger quiz
10 questions
Section 7: Cash and Bank
Key Terms
Article
Cash and Bank
18:05
Cash and Bank quiz
10 questions
Section 8: Payroll
Payroll
09:28
Payroll quiz
10 questions
Section 9: Reconciliations
Key Terms
Article
Reconciliations
14:59
Reconciliations quiz
10 questions
Section 10: Trial balance
Trial balance
09:28
Trial balance
10 questions
Section 11: Revision
Revision
19:57
Mock Exam
50 questions

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Instructor Biography

Ruth McDougall, Accounting/ bookkeeping tutor

My name is Ruth McDougall, I am a part qualified accountant through ACCA (The association of chartered certified accountants), and an ICB (Institute of Certified Bookkeepers) approved learning provider.

I started my accountancy studies many years ago with the ACCA's foundation in accounting and progress from there through the ACCA's fundamental papers and more recently the ACCA's professional papers. For two of my ACCA exams I placed within the top 10 highest scorers in the world. This prompted me to do a lot of research into teaching styles and learning techniques.

I love the learning portal provided by udemy. I believe it to be a very efficient and effective way of learning, one that lends itself very well to students studying towards ACCA foundation in accounting and ICB qualifications.

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