Financial Accounting (FFA)

The Financial Accounting (FFA) Course provides learners with a comprehensive understanding of key financial principles, recording processes, and reporting techniques. It develops the ability to prepare accurate financial statements and interpret them effectively, enabling informed business decisions.

Begin Free Trial

Get in Touch With Us

Who will be funding the course?

My employer I will Not sure

Full Name

Phone Number

+44

Company Email

Message (Optional)

Learning Options

Blended Learning
Online self paced
Onsite

Live Interactive Sessions
Dedicated 1-to-1 Tutor Support (30-min Weekly)
Expert Trainers with Industry Experience
Flexible Schedule
Networking Opportunities
High Pass Rates
24/7 Personalised Support

Overview

The Financial Accounting (FFA) Course is designed to equip learners with a robust understanding of the fundamental principles and techniques of financial accounting. This course is ideal for individuals seeking a solid foundation in financial reporting to support their career in accounting and finance.

The FFA course focuses on preparing learners to handle the systematic recording of transactions, the preparation of financial statements, and the interpretation of financial data. By mastering these core competencies, learners can ensure organisational compliance with accounting standards and improve decision-making processes.

A core component of the ACCA Foundations in Accountancy suite, this course lays the groundwork for more advanced financial accounting studies and provides essential skills for professional roles. Learners will gain practical expertise in maintaining financial records, reconciling accounts, and ensuring the integrity of financial reports.

Course Objectives

Understand the purpose and scope of financial accounting in an organisational context
Develop proficiency in recording, summarising, and reporting financial transactions
Learn how to prepare essential financial statements, including income statements and balance sheets
Gain knowledge of accounting principles, concepts, and standards
Enhance skills in interpreting financial statements to support strategic decisions
Build awareness of the ethical considerations in financial reporting
Apply foundational knowledge to progress towards advanced ACCA qualifications

Upon completion, learners will have the expertise to support financial accounting functions effectively, ensuring transparency and accuracy in organisational financial management.

Average completion time

1 Month

with unlimited support

100% online

Start anytime

Study At Your Own Pace

Blended Learning

Study At Your Own Pace

Course Includes

Expert-led Sessions
Digital Delegate Pack
24/7 Tutor Support
Downloadable Resources & Challenges
Interactive Learning
Exercise Files
Scenario-Based Learning

Course Details

Develop your understanding of essential financial, business and management accounting techniques with ACCA Applied Knowledge. You'll learn basic business and management principles and the skills required of an accountant working in business.

Entry Requirements

Educational Background: No prior accounting experience is required; however, basic numeracy and analytical skills are advantageous.
Language Proficiency: Learners should have a good command of English, as all materials, discussions, and assessments are conducted in English.
Interest in Business and Finance: Suitable for individuals keen on understanding financial reporting principles and pursuing further ACCA qualifications.

Learning Outcomes

Master Financial Recording: Learn the principles of accurate financial transaction recording.
Prepare Financial Statements: Develop skills to create and interpret essential financial statements.
Apply Accounting Standards: Understand key international accounting standards and their applications.
Analyse Financial Data: Build expertise in interpreting financial reports to guide business decisions.

Target Audience

The Financial Accounting (FFA) course caters to learners seeking to build foundational knowledge in accounting principles. The Financial Accounting (FFA) Course is suitable for a wide range of learners, including:

Aspiring Financial Accountants
Accounts Assistants
Junior Finance Officers
Business Support Staff
Financial Data Entry Clerks
Budgeting Assistants

Course content

The Context and Purpose of Financial Reporting

The scope and purpose of financial statements for external reporting
Stakeholders’ needs
The main elements of financial reports
The regulatory framework
Duties and responsibilities of those charged with governance

Accounting Principles, Concepts, and Qualitative Characteristics

The qualitative characteristics of financial information
Qualitative characteristics of useful financial information

The Use of Double-Entry Bookkeeping and Accounting Systems

Double-entry bookkeeping principles, including the maintenance of accounting records
General ledger accounts and journal entries

Recording Transactions and Events

Sales and purchases
Cash
Inventories
Tangible non-current assets
Depreciation
Intangible non-current assets and amortisation
Accruals expenses (accruals), prepaid expenses (prepayments), accrued income, and deferred income
Receivables and payables
Provisions and contingencies
Capital structure and finance costs

Reconciliations

Bank reconciliations
Trade payables account reconciliations

Preparing a Trial Balance

Trial balance
Correction of errors
Suspense accounts

Preparing Financial Statements

Statement of financial position
Statement of profit or loss and other comprehensive income
Disclosure notes
Events after the reporting period
Statement of cash flows (excluding partnerships)

Preparing Basic Consolidated Financial Statements

Subsidiaries
Associates

Interpretation of Financial Statements

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

MPES Support That Helps You Succeed

At MPES, we offer comprehensive support to help you succeed in your studies. With expert guidance and valuable resources, we help you stay on track throughout your course.

MPES Learning offers dedicated support to help you succeed in Accounting and Finance courses.
Get expert guidance from tutors available online to assist with your studies.
Check your eligibility for exemptions with the relevant professional body before starting.
Our supportive team is here to offer study advice and support throughout your course.
Access a range of materials to help enhance your learning experience. These resources include practice exercises and additional reading to support your progress.

ACCA Salary Growth

Career Growth Stories

Discover how MPES Learning transforms careers with real success stories.

Aaron Allcote

As a finance officer, MPES has been a huge help in understanding the process of recording and processing transactions from all different perspectives. The courses are very easy to follow, and the training they provide can be applied to real-life scenarios. The courses have been a huge help for me, and I would highly recommend them.

Aaron Allcote

Finance Officer

Bob Beaumont

I completed all of my ACA studies with MPES and I think you would struggle to find a better training provider anywhere in the British Isles. MPES' tutors are excellent both at delivering training and giving individualised feedback and coaching. the supporting materials and the out of class support are also great.

Bob Beaumont

Senior Accountant

Arvy Pasanting

As a qualified accountant, studying with MPES has been very rewarding experience. Its team of passionate and dedicated mentors gave me the confidence and knowledge I needed to not just at excel in my current role as an auditor, but also inspired me to expand my horizons.

Arvy Pasanting

Audit Senior

David Ford

I was recommended MPES after searching for a way to pursue a career in the accounting profession, I have studied with them throughout my journey utilising online learning opportunities that fit around the needs of my employer.

David Ford

Accountant

Aaron Allcote

Aaron Allcote

Finance Officer

Bob Beaumont

Bob Beaumont

Senior Accountant

Arvy Pasanting

Arvy Pasanting

Audit Senior

David Ford

David Ford

Accountant

ACCA Roadmap

Have Questions? We’ve Got You

If you have any questions, we’re here to help. Find the answers you need in the MPES detailed FAQ section.

Q. What are the key learning outcomes of the Financial Accounting (FFA) Course?

Learners will develop expertise in financial statement preparation, analysis, and understanding of core accounting principles like double-entry bookkeeping.

Q. What career opportunities does Financial Accounting open?

This course prepares participants for roles such as financial accountant, auditor, accounts assistant, and other positions in finance and accounting sectors.

Q. What topics are covered in the course?

Topics include accounting principles, financial reporting, the trial balance, adjusting entries, and the preparation of balance sheets and profit-and-loss statements.

Q. Is the course suitable for beginners?

Yes, Financial Accounting is designed for both beginners and individuals looking to solidify their understanding of accounting concepts.

Q. How can I apply the skills gained from this course in real-world scenarios?

The course provides practical knowledge to manage business finances, prepare financial documents, and interpret data for informed decision-making.

Q. What topics are covered in the Financial Accounting (FFA) Course?

The course covers fundamental topics, including the double-entry system, recording and summarising financial transactions, trial balance preparation, adjustments, and the creation of financial statements aligned with accounting standards.

Q. What skills will i gain from this course?

Gain skills in recording transactions, preparing financial statements, reconciling accounts, and interpreting financial data. Master compliance with accounting standards and develop expertise in maintaining accurate financial records to support decision-making.

Q. What career opportunities does the course prepare learners for?

The FFA Course prepares learners for roles such as accounts assistant, finance administrator, or junior accountant, and serves as a stepping stone for advanced ACCA certifications.

Q. What learning materials are provided during the course?

Learners gain access to comprehensive study guides, practice questions, e-learning resources, and interactive materials designed to build a strong understanding of financial accounting principles.

Q. How does this course fit into the broader ACCA Qualification framework?

The Financial Accounting (FFA) Course is part of the ACCA Foundations in Accountancy, providing a pathway to advanced ACCA qualifications and a professional accounting career.

Related Courses

Explore additional courses designed to complement your learning journey and enhance your professional skills. Expand your knowledge with these expertly curated options tailored to your career goals.

Recording Financial Transactions (FA1) Go To Course

Management Information (MA1) Go To Course

Maintaining Financial Records (FA2) Go To Course

Managing Costs and Finance (MA2) Go To Course

Management Accounting (FMA) Go To Course

Maria Thompson

04-Dec-2024

Read Blog