Work towards your ACCA qualification and membership with this ACCA FA F3 module in financial accounting.
ACCA Financial Accounting Module - ACCA FA F3
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Course code: EXP003
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Course overview
- Stand out to potential employers and demonstrate your technical skills, strategic thinking, and commitment to your career.
- Take advantage of the ACCA's dedicated 24-hour support service if you have any questions or need advice during your studies.
This ACCA FA F3 Financial Accounting module is designed to provide learners with an understanding of the fundamentals of accounts preparation and the regulatory frameworks involved. During this course, you’ll learn how to draft financial statements, as well as recording, processing, and reporting business transactions, and how to use the trial balance.
To achieve the full ACCA membership qualification you will need to complete this course, as well as 12 other modules. Alternatively, you can complete this module, plus the ACCA BT F1 Business and Technology and ACCA MA F2 Management Accounting modules to achieve the ACCA Fundamentals – Applied Knowledge qualification. If you’re looking to simply develop your knowledge of financial accounting, you can also study this course on its own.
Read our guide to the ACCA course and modules.
Course content
- The scope and purpose of financial statements for external reporting
- Users' and stakeholders' needs
- The main elements of financial reports
- The regulatory framework (legislation and regulation, reasons and limitations, relevance of accounting standards)
- Duties and responsibilities of those charged with governance
- The qualitative characteristics of financial information
- Double-entry book-keeping principles including the maintenance of accounting records and sources of accounting information
- Ledger accounts, books of prime entry, and journals
- Sales and purchases
- Cash
- Inventory
- Tangible non-current assets
- Depreciation
- Intangible non-current assets and amortisation
- Accruals and prepayments
- Receivables and payables
- Provisions and contingencies
- Capital structure and finance costs
- Trial balance
- Correction of errors
- Control of accounts and reconciliations
- Bank reconciliations
- Suspense accounts
- Statements for financial position
- Statements of profit or loss and other comprehensive income
- Disclosure notes
- Events after the reporting period
- Statement of cash flows
- Incomplete records
- Subsidiaries
- Associates
- Importance and purpose of analysis of financial statements
- Ratios
- Analysis of financial statements
Awarding body
ACCA (Association of Chartered Certified Accountants) are a global body for professional accountants based on international accounting standards. It is currently the world’s largest accountancy body, with nearly 700,000 members and students in 180 countries.
With a network of 83 offices and active centres around the world, the ACCA also have 57 global accountancy partnerships. Within Europe, they are a recognised supervisory body for the purposes of licensing auditors and finance professionals in the European Union.
Extra information
During this course you will complete a number of progress tests and mock exams in preparation for your exam. You will need to sit an exam at the end of this module in order to achieve a pass.
Exams are not included in the cost of this course. You will need to book your exams directly with ACCA.
Course duration varies depending on when you enrol and start the course.
This course is offered on a distance learning basis, meaning you will have access to your required study materials. You will also have unlimited support from your personal tutor via email. Studying via distance learning means you can fit your studies around your commitments and progress at your own pace.
On successful completion of your exam, will receive a pass in the ACCA FA F3 Financial Accounting module. This pass will count towards your overall ACCA membership and qualification.
The skills developed during this course will enable you to apply for the following roles:
- Assistant accountant
- Senior bookkeeper
- Accounts assistant
- Audit trainee
- Credit controller
- Finance assistant
- Finance officer
- Payroll supervisor
- Tax assistant
Take a read of our ‘How to Become an Accountant‘ career guide.
FAQs
You will need three GCSEs (grades 1-6/A-C) and two A Levels (grades A-E) in five separate subjects, including maths and English.
Equivalent qualifications may be accepted. Further information on these can be found on the ACCA website.
Proof of your qualifications needs to be provided when registering with ACCA as a student.
To achieve the full ACCA qualification, you will need to complete a total of 36 months of work experience in a relevant accounting or finance role. This work will need to be supervised and signed off by a practical experience supervisor.
You can start your work experience at any time and can continue gaining experience after completion of your exams.
- Online learning platform
- Video tutorials and webinars
- Exam kit and progress tests
- Personal study plan
- Dedicated personal tutor support
- Dedicated learner services
- FREE CV critique service
- FREE employability guide to help you impress future employers
- FREE XO Student Discounts membership
There may be exemptions depending on what qualifications you already have. To find out if you are eligible to claim for an exemption use, the ACCA exemptions calculator.
Students will be required to pay a fee for each exam exemption, these can only be awarded by ACCA directly.
Registration fees and exams are not included in the cost of this course. You will need to book and pay for these directly with ACCA.
That's not a problem. We want to make sure you're 100% confident about enrolling on the course and starting your study. So, just give our team of education specialists a call on 03300 563 100 and they'll do their best to help.
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