The aim of paper FA2 Maintaining Financial Records is to to develop knowledge and understanding of the underlying principles and concepts relating to Maintaining Financial Records and technical proficiency in the use of double-entry accounting techniques including the preparation of basic financial statements.

FA2 is designed to introduce you to the fundamental principles of accounting.

It will help you develop knowledge and understanding of the techniques used to maintain accounting records.

The exam shows you how to account for fixed assets to produce control accounts and reconciliations, and enable you to extract and correct an initial trial balance, make the adjustments necessary to produce an extended trial balance and account for sole traders and partnerships.

For a detailed breakdown of the exam syllabus and structure, please access the Syllabus 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: Generally accepted accounting principles and concepts
ACCA FIA/CAT FA2 A1: The key accounting principles and characteristics
ACCA FIA/CAT FA2 A1: The key accounting principles and characteristics Details 00:00:00
Quiz ACCA FIA/CAT FA2 A1: The key accounting principles and characteristics 00:00:00
ACCA FIA/CAT FA2 A2: Maintaining Financial Records
ACCA FIA/CAT FA2 A2: Maintaining Financial Records Details 00:00:00
Quiz ACCA FIA/CAT FA2 A2: Maintaining Financial Records 00:00:00
ACCA FIA/CAT FA2 A3: The regulatory framework
ACCA FIA/CAT FA2 A3: The regulatory framework Details 00:00:00
ACCA FIA/CAT FA2 A3: The regulatory framework 00:00:00
Section B: The principles and process of bookkeeping
ACCA FIA/CAT FA2 B1: The elements of financial statements
ACCA FIA/CAT FA2 B1: The elements of financial statements Details 00:00:00
Quiz ACCA FIA/CAT FA2 B1: The elements of financial statements 00:00:00
ACCA FIA/CAT FA2 B2: Books of prime entry and the flow of accounting information in the production of financial statements
ACCA FIA/CAT FA2 B2: Books of prime entry and the flow of accounting information in the production of financial statements Details 00:00:00
Quiz ACCA FIA/CAT FA2 B2: Books of prime entry and the flow of accounting information in the production of financial statements 00:00:00
Section C: The preparation of journals and ledger accounts
ACCA FIA/CAT FA2 C1: Preparation of journals from the books of prime entry
ACCA FIA/CAT FA2 C1: Preparation of journals from the books of prime entry Details 00:00:00
Quiz ACCA FIA/CAT FA2 C1: Preparation of journals from the books of prime entry 00:00:00
ACCA FIA/CAT FA2 C2: Preparation of ledger accounts
ACCA FIA/CAT FA2 C2: Preparation of ledger accounts Details 00:00:00
Quiz ACCA FIA/CAT FA2 C2: Preparation of ledger accounts 00:00:00
Section D: Recording transactions and events
ACCA FIA/CAT FA2 D1: Sales and purchases
ACCA FIA/CAT FA2 D1: Sales and purchases Details 00:00:00
Quiz ACCA FIA/CAT FA2 D1: Sales and purchases 00:00:00
Q
ACCA FIA/CAT FA2 D2: Cash Details 00:00:00
Quiz ACCA FIA/CAT FA2 D2: Cash 00:00:00
ACCA FIA/CAT FA2 D3: Inventory
ACCA FIA/CAT FA2 D3: Inventory Details 00:00:00
Quiz ACCA FIA/CAT FA2 D3: Inventory 00:00:00
ACCA FIA/CAT FA2 D4: Tangible non-current assets and depreciation
ACCA FIA/CAT FA2 D4: Tangible non-current assets and depreciation Details 00:00:00
Quiz ACCA FIA/CAT FA2 D4: Tangible non-current assets and depreciation 00:00:00
ACCA FIA/CAT FA2 D5: Accruals and prepayments
ACCA FIA/CAT FA2 D5: Accruals and prepayments Details 00:00:00
Quiz ACCA FIA/CAT FA2 D5: Accruals and prepayments 00:00:00
ACCA FIA/CAT FA2 D6: Receivables, payables and provisions
ACCA FIA/CAT FA2 D6: Receivables, payables and provisions Details 00:00:00
Quiz ACCA FIA/CAT FA2 D6: Receivables, payables and provisions 00:00:00
ACCA FIA/CAT FA2 D7: Capital and finance costs
ACCA FIA/CAT FA2 D7: Capital and finance costs Details 00:00:00
Quiz ACCA FIA/CAT FA2 D7: Capital and finance costs 00:00:00
Section E: Preparing a trial balance and correcting errors
ACCA FIA/CAT FA2 E1: Trial balance
ACCA FIA/CAT FA2 E1: Trial balance Details 00:00:00
Quiz ACCA FIA/CAT FA2 E1: Trial balance 00:00:00
ACCA FIA/CAT FA2 E2: Correction of errors
ACCA FIA/CAT FA2 E2: Correction of errors Details 00:00:00
Quiz ACCA FIA/CAT FA2 E2: Correction of errors 00:00:00
Section F: Reconciliations
ACCA FIA/CAT FA2 F1: Control account reconciliations
ACCA FIA/CAT FA2 F1: Control account reconciliations Details 00:00:00
Quiz ACCA FIA/CAT FA2 F1: Control account reconciliations 00:00:00
ACCA FIA/CAT FA2 F2: Bank reconciliation
ACCA FIA/CAT FA2 F2: Bank reconciliation Details 00:00:00
Quiz ACCA FIA/CAT FA2 F2: Bank reconciliation 00:00:00
Section G: Extending the trial balance
ACCA FIA/CAT FA2 G1: Preparation of the extended trial balance
ACCA FIA/CAT FA2 G1: Preparation of the extended trial balance Details 00:00:00
Quiz ACCA FIA/CAT FA2 G1: Preparation of the extended trial balance 00:00:00
ACCA FIA/CAT FA2 G2: Preparation of the final accounts
ACCA FIA/CAT FA2 G2: Preparation of the final accounts Details 00:00:00
Quiz ACCA FIA/CAT FA2 G2: Preparation of the final accounts 00:00:00
Section H: Partnerships
ACCA FIA/CAT FA2 H1: Partnership agreement
ACCA FIA/CAT FA2 H1: Partnership agreement Details 00:00:00
Quiz ACCA FIA/CAT FA2 H1: Partnership agreement 00:00:00
ACCA FIA/CAT FA2 H2: Partnership accounting records
ACCA FIA/CAT FA2 H2: Partnership accounting records Details 00:00:00
ACCA FIA/CAT FA2 H2: Partnership accounting records 00:00:00
ACCA FIA/CAT FA2 H3: Partnership financial statements and change in partnership
ACCA FIA/CAT FA2 H3: Partnership financial statements and change in partnership Details 00:00:00
Quiz ACCA FIA/CAT FA2 H3: Partnership financial statements and change in partnership 00:00:00

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