The aim of paper FA2 Maintaining Financial Records is to to develop knowledge and understanding of the underlying principles and concepts relating to Maintaining Financial Records and technical proficiency in the use of double-entry accounting techniques including the preparation of basic financial statements.
FA2 is designed to introduce you to the fundamental principles of accounting.
It will help you develop knowledge and understanding of the techniques used to maintain accounting records.
The exam shows you how to account for fixed assets to produce control accounts and reconciliations, and enable you to extract and correct an initial trial balance, make the adjustments necessary to produce an extended trial balance and account for sole traders and partnerships.
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