What is FA/FFA about?
Financial Accounting (FA/FFA) introduces the fundamentals of preparing financial accounts, the regulatory framework around financial statements and the qualitative characteristics of useful financial information.
It covers the recording of transactions through to the preparation of the financial statements.
Financial Accounting (FA/FFA) aims to develop knowledge and understanding of the basic principles and concepts of financial accounting. It also provides the technical skills for using double entry accounting techniques.
This knowledge is the platform to then develop further in more complex accounting issues covered in the skills and strategic papers, FR and SBR.
Read more in the Examining team guidance.
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FA/FFA is a two-hour exam, comprising two sections. All questions are compulsory.