1. FA1 (Recording Financial Transactions)

Syllabus:

Resources we have on hands to learning FA1:

Technical articles

IFRS 18 Presentation and Disclosure in Financial Statements FRS 18 Presentation and Disclosure in Financial Statements was issued by the International Accounting Standards Board (IASB) in April 2024. This new IFRS Accounting Standard is examinable in the Foundation in Accountancy (FIA) exams from September 2025 onwards.

The accounting equation
This article will help you to understand what the accounting equation is and how it relates to the application of double entry bookkeeping.

Discounts This article considers the application of IFRS 15, Revenue from Contracts with Customers and the impact it will have on accounting for prompt payment discounts.
While it is most relevant to FA/FFA, those studying FA1 and FA2 will also see prompt payment discounts, but the underlying detail of IFRS 15 will be less relevant

Process for preparing financial statements This article should be read in conjunction with the article ‘Computerized accounting systems – rationale for change’ (see ‘Related links’), which details ACCA’s reasons for amending the FA1, FA2 and FFA/FA syllabuses to replace references to manual, paper-based accounting systems with computerized accounting systems from September 2023.

Sales and purchases in a computerized accounting system This article explores a simple sale/purchase transaction and considers how the accounting records would be updated for each entity in the transaction.

Supplier statement reconciliations This article discusses the reasons for maintaining accurate records of transactions with individual suppliers and outlines how reconciliations can be used to identify errors in accounting records.

Exam technique

How to prepare for on-demand computer-based exams (FIA exams) This article will guide you on the skills and exam techniques required in preparing for on-demand CBEs for FIA exams.

Five steps to multiple-choice success
A five-step approach to answering multiple-choice questions.

Examiner’s Tips:

The examiners’ reports are an essential study resource. Read them to learn about mistakes that students commonly make in exams and how to avoid them.

Please note: We publish an examiner report annually in September. This is based on exam performance from the previous year.

Practice:

There’s two type of practices you can do: You can check both here at Exams Practice for ACCA

You can have “Practice Tests”
You can have Specimen Exams.

Miscellaneous:

Confidence:

References:

Main Support Resources Page FA1

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