FFA Financial Accounting

The syllabus introduces the candidate to the fundamentals of the regulatory framework relating to accounts preparation and to the qualitative characteristics of useful information.

Main topic areas

• Drafting financial statements and the principles of accounts preparation
• Recording, processing, and reporting business transactions and events
• Use of trial balance and how to identify and correct errors
• Preparation of financial statements for incorporated and unincorporated entities
• Basic interpretation of financial statements
• Preparation of simple consolidated financial statements.

Examination structure

• The examination comprises of 50 two mark compulsory multi-task questions (MTQs). MTQs contain a series of tasks which relate to one or more scenarios
• It is assessed by 2 hour paper based or computer based examination.
• The pass mark is 50%