ACCA FA1 Recording Financial Transactions
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ACCA FA1 Recording Financial Transactions

ACCA Foundation level. Foundation in Accountancy (FIA). Introductory certificate in financial and management accounting.
4.5 (12 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
53 students enrolled
Created by Ruth McDougall
Last updated 8/2015
English
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Current price: $10 Original price: $50 Discount: 80% off
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Includes:
  • 3 hours on-demand video
  • 11 Articles
  • 1 Supplemental Resource
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • 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
View Curriculum
Requirements
  • No accounting experience required for this 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.

Who 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
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Curriculum For This Course
27 Lectures
03:17:09
+
Introduction
1 Lecture 05:03
+
Types of business transactions
5 Lectures 22:23


Types of business transactions quiz
9 questions

Key Terms
00:26

Discounts, coding & sales tax
07:36

Illustration
9 pages

Discounts, coding & sales tax quiz
10 questions
+
Double entry bookkeeping
4 Lectures 25:13
Key Terms
00:13

Double entry bookkeeping introduction
08:32

Double entry bookkeeping introduction quiz
4 questions

Key Terms
00:18

Double entry bookkeeping continued
16:10

Double entry bookkeeping continued quiz
10 questions
+
The banking process
2 Lectures 15:09
Key Terms
01:02

The banking process
14:07

The banking process quiz
10 questions
+
Sales & sales records
4 Lectures 26:26
Key Terms
00:28

Monitoring & controlling sales
14:29

Monitoring & controlling sales quiz
10 questions

Key Terms
00:24

Sales day book & sales ledger
11:04

Sales day book & sales ledger
10 questions
+
Purchases and purchase records
4 Lectures 21:46
Key Terms
00:19

Monitoring & controlling purchases
11:40

Monitoring & controlling purchases quiz
8 questions

Key Terms
00:22

Purchase day book and purchase ledger
09:25

Purchase day book and purchase ledger quiz
10 questions
+
Cash and Bank
2 Lectures 18:24
Key Terms
00:19

Cash and Bank
18:05

Cash and Bank quiz
10 questions
+
Payroll
1 Lecture 09:28
Payroll
09:28

Payroll quiz
10 questions
+
Reconciliations
2 Lectures 15:31
Key Terms
00:32

Reconciliations
14:59

Reconciliations quiz
10 questions
+
Trial balance
1 Lecture 09:28
Trial balance
09:28

Trial balance
10 questions
1 More Section
About the Instructor
Ruth McDougall
4.4 Average rating
29 Reviews
495 Students
3 Courses
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.