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ACCA – Financial Accounting (FA)

The Financial Accounting (FA) subject introduces you to the the regulatory framework for accounts preparation

London Governance & Compliance Academy


£295 inc VAT
Or £49.17/mo. for 6 months...
Study method
Distance learning
2 hours · Self-paced
ACCA Diploma in Accounting and Business (RQF Level 4)
Regulated qualification What's this?


The Financial Accounting (FA) subject introduces you to the fundamentals of the regulatory framework relating to accounts preparation and to the qualitative characteristics of useful information. The syllabus then covers drafting financial statements and the principles of accounts preparation. It concentrates in depth on recording, processing, and reporting business transactions and events. Additionally, the syllabus covers the use of the trial balance and how to identify and correct errors, and then the preparation of financial statements for incorporated and unincorporated entities.

The syllabus then moves in two directions, firstly requiring you to be able to conduct a basic interpretation of financial statements; and secondly requiring the preparation of simple consolidated financial statements from the individual financial statements of group incorporated entities.


ACCA Diploma in Accounting and Business (RQF Level 4)

Regulated by Ofqual

Course media


Syllabus structure

    • The context and purpose of financial reporting

    • The qualitative characteristics of financial information

    • The use of double-entry and accounting systems

    • Recording transactions and events

    • Preparing a trial balance

    • Preparing basic financial statements

    • Preparing simple consolidated financial statements

    • Interpretation of financial statements

Main Capabilities

On successful completion of this subject, you should be able to:

    • 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

Who is this course for?

The ACCA qualification is ideal for people who want a career in finance and business.


The Financial Accounting (FA) exam is part of the Applied Knowledge Level of the ACCA qualification. If you are AAT qualified or graduated with a degree accredited by ACCA you are exempt from this subject.

Questions and answers

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Ella asked:

Hi, will i receive a ACCA Diploma in Accounting and Business at the end of this course?


Dear Ella, No, to obtain ACCA Diploma you will have to take an ACCA exam that has to be booked separately and is not included in our course' cost.

This was helpful. Thank you for your feedback.
Ella asked:

Hi, I'm currently working in a finance role. Am i able to complete this course in my spare time and remotely?


Dear Ella, Absolutely, it's a self-paced e-learning course that can be completed at your own leisure from any device anywhere in the world, as long as there is internet access.

This was helpful. Thank you for your feedback.


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Study method describes the format in which the course will be delivered. At Reed Courses, courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on Reed Courses, many of which can be completed online.

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body's logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.