Financial Accounting (FA)

About ACCA

The Association of Chartered Certified Accountants (ACCA) is a fast growing global professional accountancy body with over a 100 years of experience and consisting of 425,000 students and members in over 170 countries. Both its reputation and influence are respected worldwide by employers, governments and profession itself. 
The ACCA Qualification is one of the most highly respected and valued qualifications available internationally. Gaining such a qualification is evidence that the holder possesses skills and knowledge which are in high demand by employers in industry, banking, auditing, consulting as well as other professions like taxation and law. The ACCA Program is most suitable for those that aspire to become professionals in any sector of business. University graduates of any discipline can join the program. No previous knowledge of accounting or finance is required.


Course Description

The aim of this course is to develop 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.


Course objectives

After successful completion of this course, 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.


Who should attend?

If you are starting out in accounting and finance or already working in finance but have no formal qualifications, you can start your journey with ACCA at our foundation level.


Topics we will cover:


  • The context and purpose of financial reporting: The reasons for, and objectives of, financial reporting; Users’ and stakeholders’ needs; The main elements of financial reports; The regulatory framework;
  • The qualitative characteristics of financial information and the fundamental bases of accounting: The qualitative characteristics of financial reporting; Alternative bases used in the preparation of financial information;
  • The use of double-entry and accounting systems: Double-entry book-keeping principles including the maintenance of accounting records and sources of information; Ledger accounts, books of prime entry, and journals; Accounting systems and the impact of information technology on financial reporting;
  • Recording transactions and events: Sales and purchases; Cash; Inventory; Tangible non-current assets; Depreciation; Intangible non-current assets and amortization; Accruals and prepayments; Receivables and payables; Provisions and contingencies; Capital structure and finance costs;
  • Preparing a trial balance: Trial balance; Correction of errors; Control accounts and reconciliations; Bank reconciliations; Suspense accounts;
  • Preparing basic financial statements: Balance sheets; Income statements; Events after the balance sheet date; Accounting for partnerships; Cash flow statements (excluding partnerships); Incomplete records; Prepare simple consolidated financial statements; Interpretation of financial statements. 


Certificate

  • At the end of the course students will be able to pass the international exam of Financial Accounting organized by ACCA.
  • Course Language:  English
  • Course Duration: 60 hours
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