ACCA Financial Accounting 2012: version 1: FFA - ACCA - Foundations in Accountancy

Synopsis

Section A: The context and purpose of financial reporting 1The scope and purpose of, financial statements for external reporting 2Users' and stakeholders' needs 3The main elements of financial reports 4The regulatory framework (legislation and regulation, reasons and limitations, relevance of accounting standards) 5Duties and responsibilities of those charged with governance. Section B: The qualitative characteristics of financial information 1The qualitative characteristics of financial information Section C: The use of double-entry and accounting systems 1Double-entry book-keeping principles including the maintenance of accounting records and sources of accounting information 2Ledger accounts, books of prime entry, and journals Section D: Recording transactions and events 1Sales and purchases 2Cash 3Inventory 4Tangible non-current assets 5Depreciation 6Intangible non-current assets and amortisation 7Accruals and prepayments 8Receivables and payables 9Provisions and contingencies 10Capital structure and finance costs Section E: Preparing a trial balance 1Trial balance 2Correction of errors 3Control accounts and reconciliations 4Bank reconciliations 5Suspense accounts. Section F: Preparing basic financial statements 1Statements of financial position 2Income statements and statements of comprehensive income 3Disclosure notes 4Events after the reporting period 5Statements of cash flows (excluding partnerships) 6Incomplete records Section G: Preparing simple consolidated financial statements 1Subsidiaries 2Associates Section H: Interpretation of financial statements 1Importance and purpose of analysis of financial statements 2Ratios 3Analysis of financial statements