FA: Financial Accounting
370 questionsFA (Financial Accounting) covers the principles and practices of financial accounting, from double-entry bookkeeping through to the preparation and interpretation of financial statements including basic consolidations. This is one of three Applied Knowledge papers and is examined through a 2-hour, 100% MCQ computer-based exam available on demand.
Topics
- The Context and Purpose of Financial Reporting
- Accounting Principles, Concepts and Qualitative Characteristics
- The Use of Double-Entry Bookkeeping and Accounting Systems
- Recording Transactions and Events
- Reconciliations
- Preparing a Trial Balance
- Preparing Financial Statements
- Preparing Basic Consolidated Financial Statements
- Interpretation of Financial Statements
Frequently Asked Questions
What topics are covered in ACCA FA?
FA covers nine areas: the context and purpose of financial reporting, accounting principles and concepts, double-entry bookkeeping, recording transactions and events, reconciliations, preparing a trial balance, preparing financial statements, preparing basic consolidated financial statements, and interpretation of financial statements.
How is the FA exam structured?
FA is a 2-hour computer-based exam that is 100% multiple choice. It is available on demand at Pearson VUE exam centres. You need 50% to pass.
Is FA a good paper to start with?
FA is a popular starting paper because financial accounting concepts underpin many later ACCA papers, particularly FR (Financial Reporting). If you have prior bookkeeping experience, FA may feel familiar. If not, the Applied Knowledge level is designed to teach you from scratch.