The global body for professional accountants

Exam aim

The aim of paper FA1 Recording Financial Transactions is to develop knowledge and understanding of the main types of business transactions and documentation and how these are recorded in an accounting system up to the trial balance stage.

Exam overview

FA1 is designed to introduce you to basic accounting systems and the types of documentation that you will encounter in the workplace.

It will help you develop knowledge and understanding of the operational aspects of maintaining accounting records, procedures to learn and show you how to record these transactions in the books of prime entry, including accounting for cash, such as petty cash transactions.

The syllabus also includes an introduction to the principles of double entry and understanding how a computerised and a manual accounting system work.

For a detailed breakdown of the exam syllabus and structure, please access the Syallabus and study guide resource.

Exam Resources

Exam support resources

Return to the exam resource finder to locate other materials to help with your studies

Search exam resources

Last updated: 24 Apr 2015