The aim of paper FA1 Recording Financial Transactions is to develop knowledge and understanding of the main types of business transactions and documentation and how these are recorded in an accounting system up to the trial balance stage.

FA1 Recording Financial Transactions is designed to introduce you to basic accounting systems and the types of documentation that you will encounter in the workplace.

It will help you develop knowledge and understanding of the operational aspects of maintaining accounting records, procedures to learn and show you how to record these transactions in the books of prime entry, including accounting for cash, such as petty cash transactions.

The syllabus also includes an introduction to the principles of double entry and understanding how a computerised and a manual accounting system work.

For a detailed breakdown of the exam syllabus and structure, please access the Syallabus and study guide resource from the ACCA Website.IconExternalLink.

APPROACH TO EXAMINING THE SYLLABUS

The syllabus is assessed by a two hour paper-based or computer-based examination.

Questions will assess all parts of the syllabus and will include both computational and non-computational elements.

The examination will consist of 50 two mark questions.

Course Curriculum

Section A: Types of business transactions and documentation
ACCA FIA/CAT FA1 A1: Types of business transaction
ACCA FIA/CAT FA1 A1: Types of business transaction Details 00:00:00
Quiz ACCA FIA/CAT FA1 A1: Types of business transaction 00:00:00
ACCA FIA/CAT FA1 A2: Types of business documentation
ACCA FIA/CAT FA1 A2: Types of business documentation Details 00:00:00
Quiz ACCA FIA/CAT FA1 A2: Types of business documentation 00:00:00
ACCA FIA/CAT FA1 A3: Process of recording business transactions within the accounting system
ACCA FIA/CAT FA1 A3: Process of recording business transactions within the accounting system Details 00:00:00
Quiz ACCA FIA/CAT FA1 A3: Process of recording business transactions within the accounting system 00:00:00
Section B: Duality of transactions and the double entry system
ACCA FIA/CAT FA1 B1: Books of prime entry
ACCA FIA/CAT FA1 B1: Books of prime entry Details 00:00:00
Quiz ACCA FIA/CAT FA1 B1: Books of prime entry 00:00:00
ACCA FIA/CAT FA1 B2: Double entry system
ACCA FIA/CAT FA1 B2: Double entry system Details 00:00:00
ACCA FIA/CAT FA1 B2: Double entry system 00:00:00
ACCA FIA/CAT FA1 B3: The journal
ACCA FIA/CAT FA1 B3: The journal Details 00:00:00
Quiz ACCA FIA/CAT FA1 B3: The journal 00:00:00
ACCA FIA/CAT FA1 B4: Elements of financial statements
ACCA FIA/CAT FA1 B4: Elements of financial statements Details 00:00:00
Quiz ACCA FIA/CAT FA1 B4: Elements of financial statements 00:00:00
Section C: Banking system and transactions
ACCA FIA/CAT FA1 C1: The banking process
ACCA FIA/CAT FA1 C1: The banking process Details 00:00:00
Quiz ACCA FIA/CAT FA1 C1: The banking process 00:00:00
ACCA FIA/CAT FA1 C2: Documentation
ACCA FIA/CAT FA1 C2: Documentation Details 00:00:00
Quiz ACCA FIA/CAT FA1 C2: Documentation 00:00:00
Section D: Payroll
ACCA FIA/CAT FA1 D1: Processing payroll transactions into the accounting system
ACCA FIA/CAT FA1 D1: Processing payroll transactions into the accounting system Details 00:00:00
Quiz ACCA FIA/CAT FA1 D1: Processing payroll transactions into the accounting system 00:00:00
Section E: Ledger accounts
ACCA FIA/CAT FA1 E1: Prepare ledger accounts
ACCA FIA/CAT FA1 E1: Prepare ledger accounts Details 00:00:00
Quiz ACCA FIA/CAT FA1 E1: Prepare ledger accounts 00:00:00
Section F: Cash and Bank
ACCA FIA/CAT FA1 F1: Maintaining a cashbook
ACCA FIA/CAT FA1 F1: Maintaining a cashbook Details 00:00:00
Quiz ACCA FIA/CAT FA1 F1: Maintaining a cashbook 00:00:00
ACCA FIA/CAT FA1 F2: Maintaining petty cashbook
ACCA FIA/CAT FA1 F2: Maintaining petty cashbook Details 00:00:00
Quiz ACCA FIA/CAT FA1 F2: Maintaining petty cashbook 00:00:00
Section G: Sales and Credit transactions
ACCA FIA/CAT FA1 G1: Recording sales
ACCA FIA/CAT FA1 G1: Recording sales Details 00:00:00
Quiz ACCA FIA/CAT FA1 G1: Recording sales 00:00:00
ACCA FIA/CAT FA1 G2: Customer account balances and control accounts
ACCA FIA/CAT FA1 G2: Customer account balances and control accounts Details 00:00:00
Quiz ACCA FIA/CAT FA1 G2: Customer account balances and control accounts 00:00:00
Section H: Purchases and credit transactions
ACCA FIA/CAT FA1 H1: Recording purchases
ACCA FIA/CAT FA1 H1: Recording purchases Details 00:00:00
Quiz ACCA FIA/CAT FA1 H1: Recording purchases 00:00:00
ACCA FIA/CAT FA1 H2: Supplier balances and reconciliations
ACCA FIA/CAT FA1 H2: Supplier balances and reconciliations Details 00:00:00
Quiz ACCA FIA/CAT FA1 H2: Supplier balances and reconciliations 00:00:00
Section I: Reconciliation
ACCA FIA/CAT FA1 I1: Purpose of control accounts and reconciliation
ACCA FIA/CAT FA1 I1: Purpose of control accounts and reconciliation Details 00:00:00
Quiz ACCA FIA/CAT FA1 I1: Purpose of control accounts and reconciliation 00:00:00
ACCA FIA/CAT FA1 I2: Reconcile the cashbook
ACCA FIA/CAT FA1 I2: Reconcile the cashbook Details 00:00:00
Quiz ACCA FIA/CAT FA1 I2: Reconcile the cashbook 00:00:00
ACCA FIA/CAT FA1 I3: Reconcile the receivables control account
ACCA FIA/CAT FA1 I3: Reconcile the receivables control account Details 00:00:00
Quiz ACCA FIA/CAT FA1 I3: Reconcile the receivables control account 00:00:00
ACCA FIA/CAT FA1 I4: Reconcile the payables control account
ACCA FIA/CAT FA1 I4: Reconcile the payables control account Details 00:00:00
Quiz ACCA FIA/CAT FA1 I4: Reconcile the payables control account 00:00:00
Section J: Preparing the Trial Balance
ACCA FIA/CAT FA1 J1: Prepare the trial balance
ACCA FIA/CAT FA1 J1: Prepare the trial balance Details 00:00:00
Quiz ACCA FIA/CAT FA1 J1: Prepare the trial balance 00:00:00
ACCA FIA/CAT FA1 J2: Correcting errors
ACCA FIA/CAT FA1 J2: Correcting errors Details 00:00:00
Quiz ACCA FIA/CAT FA1 J2: Correcting errors 00:00:00

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