Financial Accounting (FA/FFA)

FINANCIAL ACCOUNTING (FA/FFA)

Syllabus and
study guide
SEPTEMBER 2024 TO AUGUST 2025
Designed to help with planning study and to
provide detailed information on what could be
assessed in any examination session

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 Financial Accounting (FA/FFA)

Contents
1. Overall aim of the syllabus ............................................................................................. 3
2. Introduction to the syllabus ............................................................................................ 3
3. Main capabilities ............................................................................................................... 4
4. Intellectual levels ............................................................................................................... 4
5. The syllabus ...................................................................................................................... 5
6. Detailed study guide.......................................................................................................... 6
7. Summary of changes to Financial Accounting (FA/ FFA) ................................................ 14
8. Approach to examining the syllabus ................................................................................ 16
9. Relational diagram linking Financial Accounting (FA/FFA) with other exams................... 16
10. Guide to ACCA examination structure and delivery mode ............................................. 16
11. Guide to ACCA examination assessment ...................................................................... 17
12. Qualification structure ................................................................................................... 17
13. Learning hours and education recognition ..................................................................... 18

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 Financial Accounting (FA/FFA)

1. Overall aim of the syllabus

The overall aim of the syllabus is to develop knowledge and understanding of the underlying
principles and concepts relating to financial accounting and technical proficiency in the use
of double-entry bookkeeping, including the preparation of basic financial statements.

2. Introduction to the syllabus

The syllabus for Financial Accounting (FA/FFA) introduces the candidate to the
fundamentals of the regulatory framework relating to accounts preparation and to the
qualitative characteristics of useful financial information. The syllabus then covers the
principles of accounts preparation, including an in-depth look at recording, processing, and
reporting business transactions and events. The syllabus also covers reconciliations,
preparation of a trial balance, error correction and suspense accounts, all of which will lead
to the preparation of financial statements for incorporated and unincorporated entities. The
syllabus then moves in two directions, firstly requiring the preparation of basic consolidated
financial statements from the individual financial statements of entities within a group; and
secondly requiring candidates to be able to conduct a basic interpretation of financial
statements.

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 Financial Accounting (FA/FFA)

3. Main capabilities

On successful completion of this examination, candidates should be able to:

A Explain the context and purpose of financial reporting

B Define the accounting principles, concepts and qualitative characteristics of useful
financial information
C Demonstrate the use of double-entry bookkeeping and accounting systems
D Record transactions and events
E Perform reconciliations
F Prepare a trial balance
G Prepare financial statements
H Prepare basic consolidated financial statements
I Interpret financial statements

Relational diagram of main capabilities:

4. Intellectual levels

ACCA qualifications are designed to progressively broaden and deepen the knowledge and
skills demonstrated by the student at a range of levels on their way through each
qualification.

Throughout, the study guides assess both knowledge and skills. Therefore, a clear
distinction is drawn, within each subject area, between assessing knowledge and skills and
in assessing their application within an accounting or business context. The assessment of
knowledge is denoted by a superscript K and the assessment of skills is denoted by the
superscript S.

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 Financial Accounting (FA/FFA)

7. Accruals expenses (accruals), prepaid

expenses (prepayments), accrued
5. The syllabus income, and deferred income

A The context and purpose of financial 8. Receivables and payables

reporting
9. Provisions and contingencies
1. The scope and purpose of financial
statements for external reporting 10. Capital structure and finance costs

2. Stakeholders’ needs E Reconciliations

3. The main elements of financial reports 1. Bank reconciliations

4. The regulatory framework 2. Trade payables account reconciliations

5. Duties and responsibilities of those F Preparing a trial balance

charged with governance
1. Trial balance
B Accounting principles, concepts and
qualitative characteristics 2. Correction of errors

1. The qualitative characteristics of 3. Suspense accounts

financial information
G Preparing financial statements
2. Qualitative characteristics of useful
financial information 1. Statement of financial position

C The use of double-entry bookkeeping 2. Statement of profit or loss and other

and accounting systems comprehensive income

1. Double-entry bookkeeping principles 3. Disclosure notes

including the maintenance of accounting
records 4. Events after the reporting period

2. General ledger accounts and journal 5. Statement of cash flows (excluding

entries partnerships)

D Recording transactions and events H Preparing basic consolidated

financial statements
1. Sales and purchases
1. Subsidiaries
2. Cash
2. Associates
3. Inventories
I Interpretation of financial statements
4. Tangible non-current assets
1. Importance and purpose of analysis of
5. Depreciation financial statements

6. Intangible non-current assets and 2. Ratios

amortisation
3. Analysis of financial statements

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 Financial Accounting (FA/FFA)

6. Detailed study guide 4. The regulatory framework

a) Explain the purpose and objectives of

A The context and purpose of the regulatory system, including the
financial reporting roles of the:[K]
i) IFRS Foundation®
1. The context and purpose of financial ii) International Accounting Standards
statements for external reporting Board (IASB®)
iii) IFRS® Advisory Council
a) Define financial reporting: recording, iv) IFRS Interpretations Committee
analysing and summarising financial (IFRIC®)
data.[K] v) International Sustainability
Standards Board (ISSB™)
b) Identify and define types of business
entity: sole trader, partnership, limited b) Explain the role of IFRS® Accounting
liability company.[K] Standards in preparing financial
statements.[K]
c) Explain the legal differences between a
sole trader, partnership and a limited 5. Duties and responsibilities of those
liability company.[K] charged with governance

d) Identify the advantages and a) Explain what is meant by governance,

disadvantages of operating as a sole specifically in the context of the
trader, partnership or limited liability preparation of financial statements.[K]
company.[K]
b) Describe the duties and responsibilities
e) Define the nature, principles and scope of directors in the preparation of the
of financial reporting.[K] financial statements.[K]

2. Stakeholders’ needs B Accounting principles,

concepts and qualitative
a) Identify the users of financial statements characteristics
and state and differentiate between their
information needs.[K] 1. Key principles and concepts of
accounting
3. The main elements of financial
statements a) Define and apply key principles and
concepts of accounting:[K]
a) Describe the purpose of each of the i) Going concern
financial statements:[K] ii) Accrual accounting
i) Statement of financial position iii) Materiality
ii) Statement of profit or loss and other iv) Offsetting
comprehensive income v) Consistency
iii) Statement of changes in equity vi) Prudence
iv) Statement of cash flows vii) Duality
viii) Business entity
b) Identify and define assets, liabilities, ix) Historical cost and current
equity, income and expenses.[K] value
x) Substance over form

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 Financial Accounting (FA/FFA)

2. Qualitative characteristics of useful e) Describe how an accounting system

financial information contributes to providing useful
accounting information and complies
a) Define and apply the qualitative with organisational policies and
characteristics of useful financial deadlines.[K]
information:[K]
i) Relevance f) Identify the main types of business
ii) Faithful representation transactions, for example, sales,
iii) Comparability purchases, payments, receipts.[K]
iv) Verifiability
v) Timeliness 2. General ledger accounts and journal
vi) Understandability entries

C The use of double-entry a) Describe the main types of general

bookkeeping and accounting ledger accounts, including their nature
systems and function.[K]

1. Double-entry bookkeeping principles b) Describe how financial data is initially

including the maintenance of recorded in the accounting system.[K]
accounting records
c) Explain the use of journal entries and
a) Identify and explain the function of the how journal entries are processed to
main data sources in an accounting general ledger accounts.[S]
system.[K]
d) Identify correct journal entries from
b) Summarise the contents and purpose of given narrative.[S]
different types of business
documentation, including: [K] e) Illustrate how to balance and close the
i) Quotation general ledger accounts at the year
ii) Sales order end.[S]
iii) Purchase order
iv) Goods received note D Recording transactions and
v) Goods despatched note events
vi) Sales invoice
vii) Supplier (purchase) invoice 1. Sales and purchases
viii) Supplier statement
ix) Credit note a) Record sale and purchase transactions
x) Debit note in the general ledger accounts.[S]
xi) Remittance advice
xii) Receipt b) Record sales returns and purchase
returns in the general ledger accounts.[S]
c) Explain and apply the accounting
equation.[S] c) Describe the principles of the operation
of a sales tax.[K]
d) Describe the key features of a
computerised accounting system, d) Calculate sales tax on transactions and
including the use of external servers to record it in the sales tax general ledger
store data (the cloud).[K] account.[S]

e) Account for discounts received.[S]

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 Financial Accounting (FA/FFA)

f) Account for the following discounts d) Classify expenditure as asset

allowed to customers in accordance with expenditure or expenses charged to
IFRS® Accounting Standards:[S] profit or loss.[S]
i) trade discounts
ii) settlement discounts. e) Record the acquisition and disposal of
tangible non-current assets in the
2. Cash general ledger accounts in accordance
with IFRS® Accounting Standards.[S]
a) Record cash transactions in the bank
general ledger account.[S] f) Calculate and record gains or losses on
disposal of tangible non-current assets
b) Describe the need for a record of petty in the statement of profit or loss,
cash transactions.[K] including part exchange transactions.[S]

3. Inventories g) Record the revaluation of a tangible

non-current asset in the general ledger
a) Describe the need for adjustments to accounts and illustrate how it is
inventories in preparing financial presented in the statement of profit or
statements.[K] loss and other comprehensive income
and in the statement of financial
b) Record cost of sales and closing position.[S]
inventories.[S]
h) Calculate the gain or loss on disposal of
c) Apply the requirements of IAS 2 a revalued tangible non-current asset.[S]
Inventories for valuing inventories.[S]
i) Illustrate how tangible non-current asset
d) Identify which costs should be included balances and movements are disclosed
in valuing inventories.[S] in financial statements.[S]

e) Explain the use of continuous and j) Explain the purpose and function of a
period-end inventories records.[K] non-current asset register.[K]

f) Calculate the value of closing 5. Depreciation

inventories using ‘FIFO’ (first in, first out)
and ‘AVCO’ (average cost) – both a) Explain the purpose of depreciation.[K]
periodic weighted average and
continuous weighted average.[S] b) Calculate the charge for depreciation
using straight-line and diminishing-
g) Identify the impact of inventory valuation balance (reducing-balance) methods.[S]
methods on profit and on assets.[S]
c) Identify the circumstances where
4. Tangible non-current assets different methods of depreciation would
be appropriate.[K]
a) Define non-current assets.[K]
d) Illustrate how the depreciation charge
b) Compare the difference between current and accumulated depreciation are
and non-current assets.[K] recorded in the general ledger
accounts.[S]
c) Explain the difference between asset
(capitalised) and expense items.[K]

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 Financial Accounting (FA/FFA)

e) Calculate and update the general ledger b) Calculate the adjustments needed for
accounts to record the depreciation on a accruals, prepayments, accrued income
revalued tangible non-current asset, and deferred income when preparing
including the transfer of excess financial statements.[S]
depreciation between the revaluation
surplus and retained earnings.[S] c) Illustrate the process of adjusting for
accruals, prepayments, accrued income
f) Calculate the adjustments to and deferred income when preparing
depreciation necessary if changes are financial statements.[S]
made in the estimated useful life and/ or
residual value of a tangible non-current d) Prepare manual journal entries and
asset.[S] update the general ledger accounts for
the creation and reversal of accruals,
g) Record depreciation in the statement of prepayments, accrued income and
profit or loss and statement of financial deferred income.[S]
position.[S]
e) Identify the impact of accruals,
6. Intangible non-current assets and prepayments, accrued income and
amortisation deferred income on profit and net
assets.[S]
a) Compare the difference between
tangible and intangible non-current f) Report accruals, prepayments, accrued
assets.[K] income and deferred income in the
financial statements.[S]
b) Identify types of intangible assets.[K]
8. Receivables and payables
c) Identify the definition and treatment of
‘research’ and ‘development’ in a) Identify and explain examples of
accordance with IFRS® Accounting receivables and payables.[K]
Standards.[K]
b) Identify the benefits and costs of offering
d) Calculate and account for amounts to be credit facilities to customers.[K]
capitalised as development expenditure
or to be recognised as an expense from c) Describe the purpose of an aged
given information.[S] receivables analysis.[K]

e) Explain the purpose of amortisation.[K] d) Describe the purpose of customer credit

limits.[K]
f) Calculate and account for
amortisation.[S] e) Prepare manual journal entries to write
off an irrecoverable debt.[S]
7. Accrued expenses (accruals),
prepaid expenses (prepayments), f) Prepare manual journal entries to
accrued income, and deferred recognise an irrecoverable debt that is
income subsequently recovered .[S]

a) Apply accrual accounting to accruals, g) Demonstrate the impact of irrecoverable

prepayments, accrued income and debts on the statement of profit or loss
deferred income.[S] and on the statement of financial
position.[S]

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 Financial Accounting (FA/FFA)

h) Prepare manual journal entries to create c) Identify and record the other
and adjust an allowance for components of equity which may appear
irrecoverable debts.[S] in the statement of financial position.[S]

i) Illustrate how to include movements in d) Record movements in the share capital

the allowance for irrecoverable debts in and share premium accounts.[S]
the statement of profit or loss and how
the closing balance of the allowance e) Define a bonus (capitalisation) issue
should appear in the statement of and its advantages and
financial position.[S] disadvantages.[K]

j) Account for contras between trade f) Define a rights issue and its advantages
receivables and trade payables.[S] and disadvantages.[K]

k) Prepare, reconcile and explain the g) Calculate and record a bonus

purpose of supplier statements.[S] (capitalisation) issue in the statement of
financial position.[S]
9. Provisions and contingencies
h) Calculate and record a rights issue in
a) Define “provision”, “contingent liability” the statement of financial position.[S]
and “contingent asset” in accordance
with IFRS® Accounting Standards.[K] i) Calculate and record dividends in the
general ledger accounts and the
b) Distinguish between and classify items financial statements.[S]
as provisions, contingent liabilities or
contingent assets.[S] j) Calculate and record finance costs in
the general ledger accounts and the
c) Illustrate the different methods of financial statements.[S]
accounting for provisions, contingent
liabilities and contingent assets.[K] k) Identify the components of the
statement of changes in equity.[K]
d) Calculate provisions and changes in
provisions.[S] E Reconciliations
e) Prepare manual journal entries for the 1. Bank reconciliations
movement in provisions.[S]
a) Explain the purpose of bank
f) Report provisions in the financial reconciliations.[K]
statements.[S]
b) Identify the main reasons for differences
10. Capital structure and finance costs between the bank general ledger
account and the bank statement/
a) Describe the capital structure of a internet banking records.[K]
limited liability company including:[K]
i) Ordinary shares c) Identify and correct errors and/or
ii) Preference shares (redeemable and omissions in the bank general ledger
irredeemable) account.[S]
iii) Borrowings
d) Prepare the reconciliation of the bank
b) Describe the nature of equity, including general ledger account to the bank
retained earnings and other components statement/ internet banking records.[S]
of equity.[K]

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 Financial Accounting (FA/FFA)

e) Derive bank statement and bank b) Identify errors which would be

general ledger account balances from highlighted by the extraction of a trial
given information.[S] balance and those which would not.[K]

f) Identify the bank balance to be reported c) Prepare manual journal entries to

in the financial statements.[S] correct errors.[S]

2. Trade payables account reconciliations d) Calculate the impact of errors on the

statement of profit or loss and other
a) Explain the purpose of the trade comprehensive income and the
payables general ledger account and statement of financial position.[S]
how it relates to double-entry
bookkeeping.[K] 3. Suspense accounts

b) Explain the purpose of reconciling the a) Explain the purpose of a suspense

trade payables general ledger account account.[K]
to external documents.[K]
b) Identify errors leading to the creation of
c) Prepare a reconciliation of the trade a suspense account.[K]
payables general ledger account to
supplier statements.[S] c) Record entries in a suspense account.[S]

d) Identify and correct errors which would d) Prepare journal entries to clear a
be highlighted by performing a suspense account.[S]
reconciliation of the trade payables
general ledger account.[K] G Preparing financial
statements
e) Identify the trade payables balance to
be reported in the financial 1. Statement of financial position
statements.[S]
a) Explain how the accounting equation,
F Preparing a trial balance IFRS® Accounting Standards and the
business entity concept underlie the
1. Trial balance statement of financial position.[K]

a) Describe the purpose of a trial b) Prepare a statement of financial position

balance.[K] or extracts as applicable.[S]

b) Extract general ledger balances into a 2. Statement of profit or loss and other
trial balance.[S] comprehensive income

c) Prepare extracts of an opening trial a) Calculate revenue, cost of sales, gross

balance.[S] profit, operating profit, profit before tax,
profit for the year, and total
d) Explain the limitations of a trial comprehensive income from given
balance.[K] information.[S]

2. Correction of errors b) Prepare a statement of profit or loss and

other comprehensive income or extracts
a) Identify the types of error which may as applicable.[S]
occur in accounting systems.[K]

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 Financial Accounting (FA/FFA)

c) Record the income tax expense in the d) Classify the effect of transactions on
statement of profit or loss, including the cash flows.[S]
under-/ over-provision of tax in the prior
year.[S] e) Calculate the figures needed for the
statement of cash flows in accordance
d) Identify items requiring separate with IFRS® Accounting Standards,
disclosure on the face of the statement including:[S]
of profit or loss.[K] i) Cash flows from operating
activities (direct and indirect
e) Explain the interrelationship between methods for cash generated
the statement of financial position and from operations)
the statement of profit or loss and other ii) Cash flows from investing
comprehensive income.[K] activities
iii) Cash flows from financing
3. Disclosure notes activities

a) Explain the purpose of notes to the f) Prepare a statement of cash flows or

financial statements (disclosure extracts as applicable.[S]
notes).[K]
b) Draft the following disclosure notes:[S] g) Identify the treatment of given
i) Non-current assets, including transactions in a statement of cash
tangible and intangible assets flows.[K]
ii) Provisions
iii) Events after the reporting period 6. Incomplete records
iv) Inventories
a) Apply techniques used in incomplete
4. Events after the reporting period record situations:[S]
i) Use of accounting equation
a) Define an event after the reporting ii) Use of general ledger
period in accordance with IFRS® accounts to calculate missing
Accounting Standards.[K] figures
iii) Use of cash and/ or bank
b) Classify events as adjusting or non- summaries
adjusting.[S] iv) Use of profit percentages to
calculate missing figures.
c) Distinguish between how adjusting and
non-adjusting events are reported in the H Preparing basic consolidated
financial statements.[K] financial statements
5 Statement of cash flows (excluding 1. Subsidiaries
partnerships)
a) Define and describe the following terms
a) Differentiate between profit and cash in the context of group accounting:[K]
flow.[K] i) Parent
ii) Subsidiary
b) Describe the need for management to iii) Control
control cash flow.[K] iv) Consolidated (group) financial
statements
c) Explain the benefits and drawbacks to v) Non-controlling interests
users of the financial statements of a vi) Trade (simple) investment
statement of cash flows.[K]
b) Identify subsidiaries within a group
structure.[K]

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 Financial Accounting (FA/FFA)

c) Describe the components of and b) Describe the key features of a parent-

prepare a consolidated statement of associate relationship and be able to
financial position or extracts thereof, identify an associate within a group
including:[S] structure.[K]
i) Fair value adjustments at
acquisition on property, plant c) Describe the principle of the equity
and equipment (excluding method of accounting for associate
depreciation adjustments) entities.[K]
ii) Fair value of consideration
transferred from cash and I Interpretation of financial
shares (excluding deferred statements
and contingent consideration)
iii) Elimination of intra-group 1. Importance and purpose of analysis
trading balances (excluding of financial statements
assets in transit)
iv) Removal of unrealised profit a) Describe how the interpretation and
arising on intra-group trading analysis of financial statements is used
v) Acquisition of subsidiaries in a business environment.[K]
part way through the financial
year b) Explain the purpose of interpretation of
ratios.[K]
d) Calculate goodwill (excluding
impairment of goodwill) where non- 2. Ratios
controlling interest is valued at its fair
value at the acquisition date as a) Calculate key accounting ratios related
follows:[S] to:[S]
i) Profitability
Fair value of consideration X ii) Liquidity
Fair value of non-controlling interests X iii) Efficiency
Less fair value of net assets at iv) Position
acquisition (X)
Goodwill at acquisition X b) Explain the interrelationships between
ratios.[K]
e) Describe the components of and
prepare a consolidated statement of 3. Analysis of financial statements
profit or loss or extracts thereof
including:[S] a) Calculate and interpret the relationship
i) Elimination of intra-group between the elements of the financial
trading balances (excluding statements regarding profitability,
assets in transit) liquidity, efficient use of resources and
ii) Removal of unrealised profit financial position.[S]
arising on intra-group trading
iii) Acquisition of subsidiaries part b) Draw valid conclusions from the
way through the financial year information contained within the
financial statements and present these
2. Associates to the appropriate user of the financial
statements.[S]
a) Define and identify an associate and
significant influence and identify the
situations where significant influence
exists.[K]

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 Financial Accounting (FA/FFA)

7. Summary of changes to Financial Accounting (FA/ FFA)

ACCA periodically reviews its qualification syllabuses so that they fully meet the needs of
stakeholders including employers, students, regulatory and advisory bodies and learning
providers. Due to the changes made to the 2024/25 study guide from the 2023/24 study guide, a
guide has been prepared overleaf.

Grammatical and structural changes have been made to the syllabus but this has no impact on
the knowledge required for meeting learning outcomes.

Removed specific IAS/ IFRS and replaced with “IFRS® Accounting Standards” for consistency
with Financial Accounting, Financial Reporting and Strategic Business Reporting. Specific IAS/
IFRS are included in the Examinable Documents.

The key is as follows:

Syllabus title The learning outcome is new for 2023/24

Detailed study
guide
Learning outcome
Syllabus title The 2023/24 learning outcome has not been changed significantly for
Detailed study 2024/25, although changes may have been made to the wording
guide
Learning outcome

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 Financial Accounting (FA/FFA)

2024/25 Summary of changes

SLO
A4 a) Although, strictly, this is not a new learning outcome, ACCA has expanded this
slightly to “Explain the purpose and objectives of the regulatory system, including the
roles of the … ”.

The inclusion of ‘objectives’ allows ACCA to examine the objectives of the ISSB™
and to compare to those of the IASB® and its IFRS® Accounting Standards. The
importance of sustainability in financial reporting will be expanded further in Financial
Reporting (FR) at the Applied Skills (AS) level.

The four objectives, included in a useful summary of the ISSB™, are included here.
B1 a) ii) Changed “Accrual basis” to “Accrual accounting”
B1 a) iii) Changed “Materiality and aggregation” to “Materiality”
B1 a) vii) Changed “Duality (dual aspect)” to “Duality”
C Changed “double-entry” to “double-entry bookkeeping”
C2 c) Changed “posted into” to “processed in”
D1 d) Changed “record the consequent accounting entries” to “record it in the sales tax
general ledger account”
D3 b) Changed “opening and closing inventories” to “cost of sales and closing inventories”
D4 c) Changed “asset and expense” to “asset (capitalised) and expense”
D5 d) Changed “depreciation expense” to “depreciation charge”
D7 a) Changed “Apply the accrual basis of accounting” to “Apply accrual accounting”
D7 d) Changed “Prepare journal entries” to “Prepare manual journal entries”
D8 e) Changed “Prepare the journal entries” to ”Prepare manual journal entries”
D8 f) Changed “Record an irrecoverable debt recovered” to “Prepare manual journal
entries to recognise an irrecoverable debt that is subsequently recovered”
D8 h) Changed “Prepare the journal entries to create and adjust an allowance for
receivables” to “Prepare manual journal entries to create and adjust an allowance for
irrecoverable debts
D9 e) Changed “Account” to “Prepare manual journal entries”
E2 a) Changed “the double-entry system” to “double-entry bookkeeping”
F2 c) Changed “Prepare journal entries” to “Prepare manual journal entries”
G2 a) Changed “profit from operations” to “operating profit” and “profit before taxation” to
“profit before tax”
G2 c) Changed “Record income tax in the statement of profit or loss, including the under
and overprovision of tax in the prior year” to “Record the income tax expense in the
statement of profit or loss, including the under-/ and over-provision of tax in the prior
year”
G5 e i) Changed “direct and indirect methods” to “direct and indirect methods for cash
generated from operations”
H1 c) iii) Changed “cash and goods in transit” to “assets in transit”
H1 e i) Changed “cash and goods in transit” to “assets in transit”

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 Financial Accounting (FA/FFA)

8. Approach to examining the syllabus

The syllabus is assessed by a two-hour computer-based examination. Questions will assess

all parts of the syllabus and will test knowledge and some comprehension or application of
this knowledge. The examination will consist of two sections. Section A will contain 35 two-
mark objective test questions. Section B will contain two 15-mark multi-task questions.
These will test consolidations and accounts preparation. The consolidation question could
include a small amount of interpretation and the accounts preparation question could be set
in the context of a sole trader or a limited company.

9. Relational diagram linking Financial Accounting

(FA/FFA) with other exams

The FIA suite of qualifications is designed so that a student can progress through three
discrete levels: RQF Level 2, 3, and 4. Students are recommended to enter FIA at the level
which is most appropriate to their needs and to take examinations in order but this is not a
mandatory requirement.

10. Guide to ACCA examination structure and delivery

mode

The structure of examinations varies.

The Foundations in Accountancy (FIA) examinations contain 100% compulsory questions to

encourage candidates to study across the breadth of each syllabus.

All FIA examinations are assessed by two-hour computer-based examinations.

The pass mark for all FIA examinations is 50%.

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 Financial Accounting (FA/FFA)

11. Guide to ACCA examination assessment

ACCA reserves the right to examine anything contained within the study guide at any
examination session. This includes knowledge, techniques, principles, theories, and
concepts as specified. For specified financial accounting, audit and tax examinations, except
where indicated otherwise, ACCA will publish examinable documents once a year to indicate
exactly what regulations and legislation could potentially be assessed within identified
examination sessions.

For this examination, regulation issued or legislation passed on or before 31 August

annually, will be assessed from 1 September of the following year to 31 August of the year
after. Please refer to the examinable documents for the exam (where relevant) for further
information.

Regulation issued or legislation passed in accordance with the above dates may be
examinable even if the effective date is in the future. The terms ‘issued’ or ‘passed’ relate to
when regulation or legislation has been formally approved.

The term ‘effective’ relates to when regulation or legislation must be applied to entity
transactions and business practices.

The study guide offers more detailed guidance on the depth and level at which the
examinable documents will be examined. The study guide should therefore be read in
conjunction with the examinable documents list.

12. Qualification structure

The qualification structure requires candidates who wish to be awarded the ACCA Diploma
in Accounting and Business (RQF Level 4) to pass the Business and Technology (BT)/FBT,
Management Accounting (MA)/FMA and the Financial Accounting (FA)/FFA examinations
and successfully complete the Foundations in Professionalism (FiP) module.

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 Financial Accounting (FA/FFA)

13. Learning hours and education recognition

As a member of the International Federation of Accountants, ACCA seeks to enhance the

education recognition of its qualification on both national and international education
frameworks, and with educational authorities and partners globally. In doing so, ACCA aims
to ensure that its qualifications are recognised and valued by governments and regulatory
authorities and employers across all sectors. To this end, ACCA qualifications are currently
recognised on the educational frameworks in several countries. Please refer to your national
education framework regulator for further information about recognition.

ACCA’s content partners are BPP Learning Media and Kaplan Publishing. They create their
own learning materials. For more information about the types of materials offered, please
visit their websites and contact them directly.

18 © ACCA 2024-2025 All rights reserved.