Technical articles

Technical articles

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

Partnerships – introduction
This article looks at partnerships and the associated calculations needed to attempt the relevant questions in FA2.

Accounting for partnerships
The purpose of this article is to help students to develop their understanding of the topic of accounting for partnerships. As such, it covers all of the outcomes in Section H of the Study Guide for FA2.

Process for preparing financial statements
Relevant from September 2023
This article should be read in conjunction with the article ‘Computerised 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 computerised accounting systems from September 2023.

Sales and purchases in a computerised accounting system
Relevant from September 2023
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
Relevant from September 2023
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.

Principles and concepts of accounting
Relevant from September 2023
One of the outcomes on the FA2 syllabus is ‘Explain generally accepted accounting principles and concepts’. This is the first of two articles that will discuss the two subparts of the outcome – ‘underlying principles’.

Qualitative accounting characteristics
Relevant from September 2023
This article relates to the outcome of the FA2 syllabus ‘Explain generally accepted accounting principles and concepts’ and has been written to complement the FA2 article titled ‘Principles and concepts of accounting’ (above). The focus for this article is on qualitative accounting characteristics rather than principles of accounting.

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.

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