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ACCA Financial Accounting (FA) 2024-2025 Syllabus
Rating: 4.5 out of 5(1 rating)
4 students
Last updated 11/2024
English

What you'll learn

  • 1. Understanding the Purpose of Financial Accounting
  • 2. Conceptual Framework and Principles of Accounting
  • 3. Recording Financial Transactions
  • 4. Preparation of Financial Statements
  • 5. Adjusting Financial Statements
  • 6. Understanding and Applying Accounting Standards
  • 7. Interpretation of Financial Statements
  • 8. Ethical Considerations in Financial Reporting
  • 9. Introduction to Financial Reporting for Specialized Entities

Course content

1 section28 lectures1h 57m total length
  • Introduction to Accounting4:06
  • SOFP & PL12:29
  • Bookkeeping4:09
  • Accurals and Prepayments5:28
  • IAS 373:02
  • Depreciation6:06
  • Provisions of IAS 163:57
  • Irrecoverable Debts and Allowences4:42
  • Inventory and IAS 26:21
  • The use of computers in Accounting3:19
  • Journal Entries1:46
  • Sales Tax2:52
  • Accounting for Limited Companies8:06
  • STATEMENTS OF CASH FLOWS3:29
  • BANK RECONCILIATIONS4:57
  • SUPPLIER STATEMENT RECONCILIATION3:05
  • ADJUSTMENTS TO PROFIT AND SUSPENSE ACCOUNTS2:41
  • MARK-UP AND MARGINS2:48
  • ACCOUNTING CONVENTIONS AND POLICIES5:48
  • IAS 10 – EVENTS AFTER THE REPORTING PERIOD3:23
  • IAS 38 – INTANGIBLE ASSETS: GOODWILL, RESEARCH AND DEVELOPMENT4:10
  • GROUP ACCOUNTS THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION (1)3:30
  • 23 GROUP ACCOUNTS THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION1:10
  • GROUP ACCOUNTS THE CONSOLIDATED STATEMENT OF PROFIT OR LOSS3:34
  • GROUP ACCOUNTS – FURTHER POINTS3:23
  • INTERPRETATION OF FINANCIAL STATEMENTS2:41
  • THE REGULATORY FRAMEWORK3:20
  • BUSINESS DOCUMENTATION3:29
  • Revision Practice Test

Requirements

  • The requirements for the ACCA Financial Accounting course typically include the following: Educational Background: A minimum level of education is often required, such as a high school diploma or its equivalent. Some institutions may prefer candidates with a background in accounting, finance, or business-related fields. Language Proficiency: Since the course is often delivered in English, proficiency in the language is essential. Candidates may need to demonstrate their English language skills through standardized tests like IELTS or TOEFL if English is not their first language. Numeracy Skills: A basic understanding of mathematics is important as the course involves calculations related to financial transactions and financial statement preparation. Competence in basic numeracy is generally expected. No Prior Accounting Experience Required: This course is designed for individuals at the foundational level, so prior knowledge or experience in accounting is not required. However, familiarity with basic business and financial concepts can be beneficial. Computer Literacy: Given that much of the coursework and assessments may be completed online, students are expected to have basic computer skills, including familiarity with spreadsheets (e.g., Excel) and accounting software. Age Requirement: Students must typically be at least 18 years old to enroll in ACCA courses, though there may be exceptions for younger students with the necessary qualifications. Registration with ACCA: Students must register as ACCA students and comply with any relevant ACCA guidelines and procedures for enrollment in the course. Some institutions may also require registration fees or application procedures before commencing the course. These general requirements may vary depending on the institution offering the course, so it’s important to check specific prerequisites with the provider you are considering.

Description

The Financial Accounting course, tailored to the 2024/25 syllabus, offers a comprehensive and engaging approach to mastering the fundamentals of accounting. Whether you’re an aspiring accountant, a small business owner, or someone aiming to boost their financial literacy, this course will equip you with the critical tools and knowledge needed to excel in financial accounting. It covers every step of the accounting cycle, from the initial recording of transactions to the preparation and analysis of financial statements such as balance sheets, income statements, and statements of cash flows. This gives learners a complete understanding of how businesses track and report their financial health​


What sets this course apart is its comprehensive topic breakdowns, which provide detailed yet easy-to-understand explanations of essential concepts like debits and credits, the double-entry system, and adjusting journal entries. You’ll also dive deep into more advanced topics, including inventory management (with a focus on methods like FIFO and LIFO), depreciation (straight-line, double-declining balance, etc.), and handling accounts payable and receivable.


The course includes practical, real-world examples to help you apply these concepts in a business setting. For example, you'll work through bank reconciliations, track depreciation schedules for fixed assets, and manage payroll accounting—all essential skills for any finance professional. These examples ensure you not only understand the theory but also know how to apply it in real-life scenarios​


To support various learning styles, the course comes packed with explanatory videos, which walk you through each concept step-by-step, breaking down even the most complex accounting procedures into digestible lessons. These videos are particularly useful for visual learners, ensuring the material sticks. You’ll also get access to downloadable revision notes, perfect for reviewing key concepts or prepping for exams. The flexibility to revisit the content as often as needed makes it easier to retain and apply the knowledge​


Additionally, the course is designed and reviewed by seasoned accountants and ACCA exam reviewers, ensuring it is aligned with industry standards and professional expectations. This expertise means you’re learning from professionals who know exactly what it takes to succeed in both academic settings and real-world finance. You’ll gain insights into GAAP and IFRS policies, which are crucial for understanding global accounting practices, and you’ll be well-prepared to apply accounting concepts in any business context​


Beyond mastering the core accounting processes, you’ll also explore advanced topics such as equity financing, bond amortization, and payroll management, all of which are key components of a more comprehensive understanding of financial accounting. These topics are particularly important for those looking to climb the career ladder in finance or preparing for advanced accounting certifications like ACCA​


By the end of the course, you’ll have a robust understanding of how to prepare, interpret, and analyze financial data, allowing you to make informed decisions, manage finances effectively, and communicate financial information clearly to stakeholders. Whether you’re studying for an exam, enhancing your professional skill set, or simply aiming to better understand financial reports, this course provides the practical tools and theoretical foundation you need to succeed in financial accounting​.

Who this course is for:

  • The ACCA Financial Accounting course is designed for a broad range of individuals who wish to gain foundational knowledge and skills in financial accounting. Specifically, it is intended for: Aspiring Accountants: Individuals who are looking to begin a career in accounting and need a solid grounding in the core principles of financial accounting. This course serves as a starting point for those aiming to become qualified accountants through the ACCA qualification pathway. Finance and Business Professionals: Professionals working in finance, business, or related fields who want to enhance their financial accounting knowledge to make better business decisions, prepare financial reports, or manage finances more effectively. Students Pursuing ACCA Qualification: Those pursuing the full ACCA qualification will benefit from this course as it is a key component of the ACCA syllabus. It provides the necessary knowledge to progress to more advanced stages of the ACCA exams. Entrepreneurs and Small Business Owners: Individuals who run their own businesses and need to understand financial accounting in order to manage their finances, prepare financial statements, and ensure compliance with financial regulations. Career Changers: Professionals from non-accounting backgrounds who are looking to switch careers and enter the accounting or finance sector. This course provides a structured and accessible way to learn accounting fundamentals. Students and Graduates in Related Fields: Graduates or current students of finance, business management, or economics who want to deepen their understanding of financial accounting and apply it to their existing knowledge. International Candidates: Individuals from around the world who seek an internationally recognized accounting qualification. ACCA’s global reach makes this course relevant for those looking to work in international or multinational companies. The course is suitable for anyone with an interest in financial accounting, whether for personal development, academic progress, or career advancement, regardless of prior accounting experience.