Financial Accounting (FFA)

• Educational Background: No prior accounting experience is required; however, basic numeracy and analytical skills are advantageous. 

• Language Proficiency: Learners should have a good command of English, as all materials, discussions, and assessments are conducted in English. 

• Interest in Business and Finance: Suitable for individuals keen on understanding financial reporting principles and pursuing further ACCA qualifications. 

• Master Financial Recording: Learn the principles of accurate financial transaction recording. 

• Prepare Financial Statements: Develop skills to create and interpret essential financial statements. 

• Apply Accounting Standards: Understand key international accounting standards and their applications. 

• Analyse Financial Data: Build expertise in interpreting financial reports to guide business decisions. 

The Financial Accounting (FFA) course caters to learners seeking to build foundational knowledge in accounting principles. The Financial Accounting (FFA) Course is suitable for a wide range of learners, including: 

• Aspiring Financial Accountants 

• Accounts Assistants 

• Junior Finance Officers 

• Business Support Staff 

• Financial Data Entry Clerks 

• Budgeting Assistants 

The Context and Purpose of Financial Reporting

• The scope and purpose of financial statements for external reporting
• Stakeholders’ needs
• The main elements of financial reports
• The regulatory framework
• Duties and responsibilities of those charged with governance
   

Accounting Principles, Concepts, and Qualitative Characteristics

• The qualitative characteristics of financial information
• Qualitative characteristics of useful financial information
   

The Use of Double-Entry Bookkeeping and Accounting Systems

• Double-entry bookkeeping principles, including the maintenance of accounting records
• General ledger accounts and journal entries
   

Recording Transactions and Events

• Sales and purchases
• Cash
• Inventories
• Tangible non-current assets
• Depreciation
• Intangible non-current assets and amortisation
• Accruals expenses (accruals), prepaid expenses (prepayments), accrued income, and deferred income
• Receivables and payables
• Provisions and contingencies
• Capital structure and finance costs
   

Reconciliations

• Bank reconciliations
• Trade payables account reconciliations
   

Preparing a Trial Balance

• Trial balance
• Correction of errors
• Suspense accounts
   

Preparing Financial Statements

• Statement of financial position
• Statement of profit or loss and other comprehensive income
• Disclosure notes
• Events after the reporting period
• Statement of cash flows (excluding partnerships)
   

Preparing Basic Consolidated Financial Statements

• Subsidiaries
• Associates
   

Interpretation of Financial Statements

• Importance and purpose of analysis of financial statements
• Ratios
• Analysis of financial statements