Financial Accounting
Learn to record the transactions of a business and turn them into a proper set of accounts.
After payment we set up your CharterFlow LMS account and email your login within one business day.
(ACCA's own exam and subscription fees are separate)
Who this is for
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Students starting ACCA from the beginning, and anyone coming in with partial exemptions who needs FA specifically. If you're heading for FR and SBR later, this is the paper that decides how hard those feel. Everything above it assumes FA is second nature.
Course overview
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FA teaches you to record transactions, correct them when they go wrong, and prepare a full set of financial statements, including a first look at consolidated accounts. It is the foundation of the entire ACCA reporting stream.
It's an on-demand exam, so you can sit it when you're ready rather than waiting for a session. That flexibility is useful, but it also means students set their own pace and drift. We teach FA live with a fixed rhythm and marked practice so that doesn't happen.
What you'll learn
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Context and purpose of financial reporting
Scope of financial statements, who uses them, the regulatory framework, governance duties
Accounting principles and qualitative characteristics
Going concern, accruals, materiality, relevance, faithful representation, comparability
Double-entry bookkeeping and accounting systems
Sources of data, business documentation, the accounting equation, computerised systems
Recording transactions and events
Sales and purchases, cash, inventories, non-current assets, depreciation, accruals and prepayments, receivables, provisions
Reconciliations
Bank reconciliations and payables account reconciliations
Preparing a trial balance
Extracting the trial balance, correcting errors, suspense accounts
Preparing financial statements
Statement of financial position, profit or loss, statement of cash flows, incomplete records
Basic consolidated financial statements
Subsidiaries and associates, goodwill, intra-group eliminations
Interpretation of financial statements
Ratio calculation and analysis covering profitability, liquidity and efficiency
Content follows the current ACCA FA/FFA syllabus and study guide.
| Sec | What it is | Qs | Mk | Weight |
|---|---|---|---|---|
| A | Objective test questions, 2 marks each, covering any area of the syllabus | 35 | 70 | |
| B | Multi-task questions, 15 marks each, on preparing accounts and basic consolidations | 2 | 30 |
Exam formats follow the current ACCA syllabus. Always confirm on accaglobal.com.
Where the marks sit
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ACCA states that the two 15-mark Section B multi-task questions test accounts preparation and basic consolidations. That makes 30 marks predictable every sitting, so those two are the ones to drill hardest.
Section A is 70 marks sampling the whole syllabus, so nothing can be dropped. Full coverage for Section A, heavier practice on accounts preparation and consolidations, is the split that works.
What the exam rewards
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FA is a precision paper. Section A gives no partial credit, so an answer is either right or it isn't, and speed matters because 35 questions in the time available leaves little room to dwell. Section B is where careless work costs most: one wrong figure early in a consolidation or an accounts preparation runs through everything after it.
The students who pass comfortably are the ones who have drilled double entry until it is automatic, rather than the ones who understand it in theory and slow down whenever a transaction looks unfamiliar.
What's included
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Live classes capped at 20 students, recordings of every session, access to the practice platform, marked practice with feedback, and doubt support on WhatsApp and through the LMS, available anytime.
Why CharterFlow
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FA is taught live with a fixed weekly rhythm, which matters more here than on any other paper because the on-demand exam gives you no external deadline. Batches are capped at 20 so your workings get checked properly from the start, before bad habits set in and follow you into FR. Every session is recorded, so you can go back over any topic as often as you need.
How to enrol
- 1Message us on WhatsApp and tell us which papers you're exempt from.
- 2We'll confirm your plan and the fee for your route.
- 3Once you're enrolled we set up your CharterFlow LMS account and email your login within one business day.
Common questions
Do I need any accounting background to start FA?
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No. FA starts from first principles, including what a transaction is and how double entry works. What it does expect is consistency, because the syllabus builds on itself from week one.
Is FA the same as FFA?
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The syllabus is shared. FA is the ACCA Qualification paper and FFA is the Foundations in Accountancy equivalent, and they're examined the same way.
When can I sit the exam?
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FA is on demand, so you book it when you're ready rather than waiting for a March, June, September or December session. We'll tell you when we think you're ready.
How does FA connect to FR and SBR?
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Directly. FR assumes you can already prepare statements and handle basic consolidations, and SBR assumes FR. Most students who struggle with consolidations at FR level are really carrying an FA gap.
Do I get an exemption for FA?
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Possibly, depending on your prior qualifications. ACCA decides exemptions, not us. Send us your qualifications on WhatsApp and we'll tell you what's likely and what it means for your study plan.
How big are the batches?
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Capped at 20 students, so your workings actually get looked at rather than just your final answers.
Is it taught live, and can I catch up if I miss a class?
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Live classes, every session recorded, with the practice platform for questions in between.
Which topics are most important in FA?
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Accounts preparation and basic consolidations. ACCA states that the two 15-mark Section B multi-task questions test those two areas, so 30 marks are predictable every sitting. Double entry underpins everything else, so it has to be automatic before those questions become straightforward.
How do I pass FA?
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Practise full accounts preparation questions under time pressure rather than rereading theory. Section A gives no partial credit across 70 marks, so recognition needs to be fast, and Section B punishes an early error because it carries through the whole statement.
Do I book the ACCA exam myself?
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You book and pay ACCA directly. Our fee covers tuition only.
Other papers in this level
This paper is coming soon.
It's on the way. Register your interest and we'll let you know the moment a batch opens, and help you plan the papers you can start today.
After payment we set up your CharterFlow LMS account and email your login within one business day.