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Mai Studies Original · Accounting & Finance

ACCA Study Support: Financial Accounting (FA)

A complete Mai Studies study-support programme for learners preparing for the ACCA Applied Knowledge paper Financial Accounting. Each module contains original written notes with worked double-entry examples, a tutor-voice classroom transcript, a practical activity with a worked solution, a mock test with explained answers and a marked written assignment. Mai Studies is an independent provider: it is not ACCA, is not an ACCA Approved Learning Partner, and this programme carries no exam credit or exemption.

10 weeks 60 guided hours Foundation

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Included with Mai Studies membership at no extra cost. Fee waivers are available through scholarships and open access.

ACCA Study Support: Financial Accounting (FA) course artwork

What you will achieve

Explain the purpose of financial reporting and its qualitative characteristics
Record transactions using double entry and balance the ledger accounts
Prepare and reconcile control accounts, bank reconciliations and suspense accounts
Account for non-current assets, depreciation and disposals
Apply accruals, prepayments, inventory and receivables adjustments at the year end
Prepare a statement of profit or loss and a statement of financial position from a trial balance
Prepare a simple statement of cash flows and basic consolidated figures

Entry guidance

— No prior accounting study required
— Comfortable with basic arithmetic
— Around six study hours each week

Original Mai Studies learning material. This is a professional completion programme, not a regulated qualification or university accreditation.

Programme syllabus

8 applied modules

Lessons: 8
Assessed tasks: 8
Practice questions: 120
Timed mock papers: 2

The purpose and framework of financial reporting

Users of accounts, the accounting equation, qualitative characteristics and the regulatory background.

1 lesson · 16 practice questions · 1 assessed task

1. Why financial statements exist and what makes them useful36 min study · 3 learning objectives · practical activity
Users, the accounting equation, the qualitative characteristics of useful information and the regulatory framework.

Accounting equation and users report — marked out of 100, pass at 80%

Double entry and the ledger system

Debits and credits, books of prime entry, posting to the ledgers and extracting a trial balance.

1 lesson · 12 practice questions · 1 assessed task

1. Double entry, books of prime entry and the trial balance37 min study · 3 learning objectives · practical activity
Recording transactions accurately from source documents through to a balanced trial balance.

Ledger and trial balance exercise — marked out of 100, pass at 80%

Sales tax, control accounts and reconciliations

Accounting for sales tax, receivables and payables control accounts, and bank reconciliations.

1 lesson · 16 practice questions · 1 assessed task

1. Sales tax, control accounts and bank reconciliation38 min study · 3 learning objectives · practical activity
Keeping the ledgers trustworthy through reconciliation, and accounting for sales tax correctly.

Control account and bank reconciliation pack — marked out of 100, pass at 80%

Non-current assets, depreciation and disposals

Capital and revenue expenditure, depreciation methods, disposals and the non-current asset register.

1 lesson · 16 practice questions · 1 assessed task

1. Non-current assets, depreciation and disposals39 min study · 3 learning objectives · practical activity
Distinguishing capital from revenue expenditure and accounting for assets across their useful life.

Non-current asset schedule — marked out of 100, pass at 80%

Accruals, prepayments and receivables adjustments

Matching income and expense to the right period, irrecoverable debts and allowances.

1 lesson · 16 practice questions · 1 assessed task

1. Accruals, prepayments and receivables adjustments38 min study · 3 learning objectives · practical activity
Matching income and expense to the correct period, and dealing with customers who do not pay.

Year-end adjustments memorandum — marked out of 100, pass at 80%

Inventory, provisions and events after the reporting period

Valuing inventory, recognising provisions and contingencies, and adjusting for later events.

1 lesson · 16 practice questions · 1 assessed task

1. Inventory, provisions and events after the reporting period36 min study · 3 learning objectives · practical activity
Valuing what is left on the shelf and recognising obligations that are uncertain in amount or timing.

Inventory, provisions and subsequent events review — marked out of 100, pass at 80%

Errors, suspense accounts and preparing the financial statements

Types of error, correcting journals, and building the two primary statements from a trial balance.

1 lesson · 16 practice questions · 1 assessed task

1. Errors, suspense accounts and preparing the financial statements38 min study · 3 learning objectives · practical activity
Finding and correcting errors, then converting a trial balance into the primary statements.

Financial statements from a trial balance — marked out of 100, pass at 80%

Cash flows, interpretation and simple consolidation

The statement of cash flows, basic ratio interpretation and consolidating a simple group.

1 lesson · 12 practice questions · 1 assessed task

1. Cash flows, interpretation and simple consolidation40 min study · 3 learning objectives · practical activity
Explaining where the cash went, reading the statements, and combining a parent and a subsidiary.

Cash flow and interpretation report — marked out of 100, pass at 80%

Timed mock papers

ACCA Study Support: Financial Accounting (FA): timed mock paper 1 — 180 minutes, 50 objective questions plus written and computational tasks
ACCA Study Support: Financial Accounting (FA): timed mock paper 2 — 180 minutes, 50 objective questions plus written and computational tasks

Lesson pages, assessed tasks and mock papers open the moment you join this programme. Teaching material is studied online; the notes you write are yours to download.

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