Professional Documents
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Fa1 SG Sept16 Aug17
Fa1 SG Sept16 Aug17
This syllabus and study guide are designed to help Approach to examining the syllabus
with teaching and learning and is intended to
provide detailed information on what could be This section briefly explains the structure of the
assessed in any examination session. examination and how it is assessed.
This syllabus’s aim is broken down into several ACCA's Approved Content Programme is the
main capabilities which divide the syllabus and programme through which ACCA approves
study guide into discrete sections. learning materials from high quality content
providers designed to support study towards ACCA’s
qualifications.
Relational diagram of main capabilities
ACCA has three Approved Content Providers, Becker
This diagram illustrates the flows and links between Professional Education,
the main capabilities (sections) of the syllabus and BPP Learning Media and Kaplan Publishing. BPP
should be used as an aid to planning teaching and Learning Media and Kaplan Publishing produce
learning in a structured way. learning materials to support this exam.
Syllabus rationale
For information about ACCA's
This is a narrative explaining how the syllabus is Approved Content Providers, please go to
structured and how the main capabilities or sections ACCA's Content Provider Directory.
of the syllabus are linked. The rationale also
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The Directory also lists materials by other GUIDE TO EXAM STRUCTURE
publishers, these materials have not been quality
assured by ACCA but may be helpful if used in The structure of examinations varies within and
conjunction with approved learning materials or for between modules and levels.
variant exams where no approved content is The Foundations examinations contain 100%
available. You will also find details of Additional compulsory questions to encourage candidates to
Reading suggested by the examining teams and this study across the breadth of each syllabus.
may be a useful supplement to approved learning All Foundations examinations are assessed by two-
materials. hour paper based and computer based
examinations.
ACCA's Content Provider Directory can be found The pass mark for all FIA examination papers is
here – 50%.
H http://www.accaglobal.com/uk/en/student/acca-
qual-student-journey/study-revision/learning- GUIDE TO EXAMINATION ASSESSMENT
providers/alp-content.html
ACCA reserves the right to examine anything
Relevant articles are also published in Student contained within any study guide within any
Accountant and available on the ACCA website. examination session. This includes knowledge,
techniques, principles, theories, and concepts as
specified.
LEVEL OF ASSESSMENTS – INTELLECTUAL
DEMAND For specified financial accounting, audit and tax
papers, except where indicated otherwise, ACCA
ACCA qualifications are designed to progressively will publish examinable documents once a year to
broaden and deepen the knowledge and skills indicate exactly what regulations and legislation
demonstrated by the student at a range of levels could potentially be assessed within identified
through each qualification. examination sessions.
Throughout, the study guides assess both For this examination regulation issued or legislation
knowledge and skills. Therefore a clear distinction is passed on or before 31st August annually, will be
drawn, within each subject area, between assessing assessed from September 1st of the following year to
knowledge and skills and in assessing their August 31st of the year after. Please refer to the
application within an accounting or business examinable documents for the paper (where
context. The assessment of knowledge is denoted by relevant) for further information.
a superscriptK and the assessment of skills is
denoted by the superscriptS.
Regulation issued or legislation passed in
accordance with the above dates may be
VALUE OF ASSESSMENTS – GUIDED LEARNING examinable even if the effective date is in the future.
HOURS AND EDUCATION RECOGNITION The term issued or passed relates to when
regulation or legislation has been formally approved.
As a member of the International Federation of
Accountants, ACCA seeks to enhance the education The term effective relates to when regulation or
recognition of its qualification on both national and legislation must be applied to entity transactions
international education frameworks, and with and business practices.
educational authorities and partners globally. In
doing so, ACCA aims to ensure that its qualifications The study guide offers more detailed guidance on
are recognized and valued by governments, the depth and level at which the examinable
regulatory authorities and employers across all documents will be examined. The study guide
sectors. To this end, ACCA qualifications are should therefore be read in conjunction with the
currently recognized on the education frameworks in examinable documents list.
several countries. Please refer to your national
education framework regulator for further
information about recognition.
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Qualification structure
The qualification structure requires candidates who wish to be awarded the Introductory Certificate in Financial
and Management Accounting to pass both the FA1 and MA1 examinations and successfully complete the
Foundations in Professionalism module.
Introductory
FA1 MA1 Certificate in
+ + FiP* =
Financial and
Management
Accounting
* Foundations in Professionalism
Syllabus structure
The FIA suite of qualifications is designed so that a student can progress through three discrete levels;
Introductory, Intermediate and Advanced, However, entry is possible at any point. Students are recommended to
enter Foundations in Accountancy at the level which is most appropriate to their needs and abilities and to take
examinations in order, but this is not a requirement.
FIA FFA
FA2
FA1
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Syllabus On successful completion of this paper, candidates
should be able to explain and understand the
following:
AIM
A. Types of business transactions and
To develop knowledge and understanding of the documentation
main types of business transactions and
documentation and how these are recorded in an B. Duality of transactions and the double entry
accounting system up to the trial balance stage. system
MAIN CAPABILITIES
Types of business transactions and Duality of transactions and the double entry
documentation (A) system (B)
Banking Payroll (D) Cash and Bank (F) Sales and Credit Purchases and Credit
system and transactions (G) transactions (H)
transactions
(C)
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DETAILED SYLLABUS H. Purchases and credit transactions
B Duality of transactions and the double entry 3. Reconcile the receivables control account
system
4. Reconcile the payables control account
1. Books of prime entry
J. Preparing the Trial Balance
2. Double entry system
1. Prepare the trial balance
3. The journal
2. Correcting errors
4. Elements of financial statements
E. Ledger accounts
1. Maintaining a cashbook
1. Recording sales
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Study Guide 3. Process of recording business transactions
within the accounting system
d) Prepare a petty cash voucher including the a) Outline the purpose and content of the books
sales tax element of an expense when of prime entry including their format.[K]
presented with an inclusive amount. [s]
b) Explain how transactions are entered in the
books of prime entry.[K]
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c) Outline how the books of prime entry integrate d) Outline the processing and security procedures
with the double entry book-keeping system [K] relating to the use of cash, cheques, credit
cards, debit cards for receipts and payments.[K]
d) Enter transactions including the sales tax effect
where applicable into the books of prime 2. Documentation
entry.[S]
a) Explain why it is important for an organisation
2. Double entry system to have a formal document retention policy. [K]
a) Define the accounting equation. [K] b) Identify the different categories of documents
that may be stored as part of a document
b) Understand and apply the accounting retention policy.[K]
equation.[K]
D PAYROLL
c) Understand how the accounting equation
relates to the double entry book-keeping 1. Process payroll transactions within the
system.[K] accounting system
d) Process financial transactions from the books a) Prepare and enter the journal entries in the
of prime entry into the double entry general ledger to process payroll transactions
bookkeeping system.[S] including:
i) Calculation of gross wages for employees
3. The journal paid by the hour, paid by output and salaried
workers
a) Understand the use of the journal including the ii) Accounting for payroll costs and deductions
reasons for, content and format of the iii) The employers responsibilities for taxes,
journal.[K] state benefit contributions and other
deductions .[S]
b) Prepare journal entities directly from
transactions, books of prime entry as b) Identify the different payment methods in a
applicable or to correct errors.[S] payroll system, e.g. cash, cheques, automated
payment. [K]
4. Elements of the financial statements
c) Explain why authorisation of payroll
a) Define and distinguish between the elements of transactions and security of payroll information
the financial statements.[K] is important in an organisation.[K]
C BANK SYSTEM AND TRANSACTIONS a) Enter transactions from the books of prime
entry into the ledgers.[S]
1. The banking process
b) Record journal entries in the ledger accounts. [S]
a) Explain the differences between the services
offered by banks and banking institutions.[K] c) Balance and close off ledger accounts.[S]
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F CASH AND BANK d) Prepare the receivables control account or
receivables ledgers by accounting for:[S]
1. Maintaining a cash book i) Sales
ii) Sales returns
a) Record applicable transactions within the iii) Payments from customers including
cashbook, including any sales tax effect where checking the accuracy and validity of
applicable. [S] receipts against relevant supporting
information
b) Prepare the total, balance and cross cast cash iv) Settlement discounts
book columns.[S] v) Irrecoverable debt and allowances for
irrecoverable debts including any effect of
c) Identify and deal with discrepancies.[S] sales tax where applicable
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2. Reconcile the cash book
2. Correcting errors
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NOTE OF SIGNIFICANT CHANGES TO STUDY
GUIDE PAPER FA1
ACCA periodically reviews its qualification syllabuses so that they fully meet the needs of stakeholders such as
employers, students, regulatory and advisory bodies and learning providers.
There have not been any additions, deletions or amendments to the 2015/16 study guide for 2016/17.
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© ACCA 2016-2017 All rights reserved.