FINANCIAL ACCOUNTING (FA)
Previously Known as F3
Financial Accounting will 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.
You’ll learn how to interpret financial statements; and prepare simple consolidated financial statements from the individual financial statements of group incorporated entities.
- 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
WHAT WILL YOU ACHIEVE
The exams Accountant in Business, Management Accounting and Financial Accounting, along with the completion of the foundations in professionalism module, will lead you to the Diploma in Accounting and Business.
|A. THE CONTEXT AND PURPOSE OF FINANCIAL REPORTING|
|B. THE QUALITATIVE CHARACTERISTICS OF FINANCIAL INFORMATION|
|C. THE USE OF DOUBLE-ENTRY AND ACCOUNTING SYSTEMS|
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