ACCA Fundamentals - Applied Knowledge

This ACCA Fundamentals Applied Knowledge qualification has been designed to introduce you to finance and accounting and help you to understand essential accounting techniques. To achieve the full ACCA membership qualification you will need to complete the exams for modules included in this course, the ACCA Fundamentals Applied Skills modules, and the Strategic Professional modules, as well as three years' work experience and an ethics module. This course is made up of the following three modules which you can also study on their own:

• ACCA BT F1 Business and Technology
• ACCA MA F2 Management Accounting
• ACCA FA F3 Financial Accounting

Read our guide to the ACCA course and modules.

Course Content

ACCA Business and Technology – ACCA BT F1

Section A The business organisation, its stakeholders, and the external environment

• The purpose and types of business organisations
• Stakeholders in business organisations
• Political and legal factors affecting business
• Macroeconomic factors
• Micro economic factors
• Social and demographic factors
• Technological factors
• Environmental factors
• Competitive factors

Section B Business organisational structure, functions, and governance

• The formal and informal business organisation
• Business organisational structure and design
• Organisational culture in business
• Committees in business organisations
• Governance and social responsibility in business

Section C Accounting and reporting systems, compliance, control, technology, and security

• The relationship between accounting and other business functions
• Accounting and finance functions within business organisations
• Principles of law and regulation governing accounting and auditing
• The sources and purpose of internal and external financial information provided by business
• Financial systems, procedures, and related IT applications
• Internal controls, authorisation, security of data, and compliance within business
• Fraud and fraudulent behaviour and their prevention in business, including money laundering
• The impact of financial technology (fintech) on accounting systems

Section D Leading and managing individuals and teams

• Leadership, management, and supervision
• Recruitment and selection of employees
• Individual and group behaviour in business organisations
• Team formation, development, and management
• Motivating individuals and groups
• Learning and training at work
• Review and appraisal of individual performance

Section E Personal effectiveness and communication

• Personal effectiveness techniques
• Consequences of ineffectiveness at work
• Competence frameworks and personal development
• Sources of conflicts and techniques for conflict resolution and referral
• Communicating in business

Section F Professional ethics in accounting and business

• Fundamental principles of ethical behaviour
• The role of regulatory and professional bodies in promoting ethical and professional standards in the accountancy profession
• Corporate codes of ethics
• Ethical conflicts and dilemmas

ACCA Financial Accounting Module – ACCA FA F3

Section A The context and purpose of financial reporting

• 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

Section B The qualitative characteristics of financial information

• The qualitative characteristics of financial information

Section C The use of double-entry and accounting systems

• Double-entry book-keeping principles including the maintenance of accounting records and sources of accounting information
• Ledger accounts, books of prime entry, and journals

Section D Recording transactions and events

• 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

Section E` Preparing a trial balance

• Trial balance
• Correction of errors
• Control of accounts and reconciliations
• Bank reconciliations
• Suspense accounts

Section F Preparing basic financial statements

• 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

Section G Preparing simple consolidated financial statements

• Subsidiaries
• Associates

Section H Interpretation of financial statements

• Importance and purpose of analysis of financial statements
• Ratios
• Analysis of financial statements

ACCA Management Accounting Module – ACCA MA F2

Section A The nature, source, and purpose of management information

• Accounting for management
• Sources of data
• Cost classification
• Presenting information

Section B Data analysis and statistical techniques

• Sampling methods
• Forecasting techniques
• Summarising and analysing data
• Spreadsheets

Section C Cost accounting techniques

• Accounting for materials, labour, and overheads
• Absorption and marginal costing
• Cost accounting methods
• Alternative cost accounting principles

Section D Budgeting

• Nature and purpose of budgeting
• Budget preparation
• Flexible budgets
• Capital budgeting and discounted cash flow
• Budgetary control and reporting
• Behavioural aspects of budgeting

Section E Standard costing

• Standard costing system
• Variance calculations and analysis
• Reconciliation of budget and actual profit

Section F Performance measurement

• Performance management - overview
• Performance management - application
• Cost reductions and value enhancement
• Monitoring performance and reporting