Acca Fa1 Recording Financial Transactions

ACCA Foundation level. Foundation in Accountancy (FIA). Introductory certificate in financial and management accounting.

What you'll learn
Understanding the basic types of business transactions & documentation
Understanding duality of transactions & the double entry system
Understanding the basics of the banking system & transactions
Understanding the basics of payroll
Introduction to ledger accounts
Understanding to the basics of cash & bank
Introduction to sales & credit transactions
Introduction to purchases & credit transactions
Introduction to reconciliations
Preparing the trial balance
Requirements
No accounting experience required for this course
Description
ACCA's FA1 Recording financial transactions paper is the first paper in the ACCA's foundation level qualification. It is an international course which aims to introduce students to the basic accounting systems up to the trial balance stage and the types of documentation you would encounter in the workplace. No previous knowledge of accounting, additional material or software is required for this paper. In order to sit the ACCA exam students must apply direct to ACCA for student membership and exam entry.In this course students will learn about: Business transactions, the banking system and double entry bookkeepingPayroll and ledger accountsReconciliation and preparing the trial balance This course is for complete beginners, providing a starting point for those wanting to pursue a career in accounting as an accounting technician or those wanting to become a professional accountant but who may not meet the entry requirements to start their studies straight away with the ACCA qualification.

Overview

Section 1: Introduction

Lecture 1 Introduction to recording financial transactions

Section 2: Types of business transactions

Lecture 2 Key Terms

Lecture 3 Types of business transactions

Lecture 4 Key Terms

Lecture 5 Discounts, coding & sales tax

Lecture 6 Illustration

Section 3: Double entry bookkeeping

Lecture 7 Key Terms

Lecture 8 Double entry bookkeeping introduction

Lecture 9 Key Terms

Lecture 10 Double entry bookkeeping continued

Section 4: The banking process

Lecture 11 Key Terms

Lecture 12 The banking process

Section 5: Sales & sales records

Lecture 13 Key Terms

Lecture 14 Monitoring & controlling sales

Lecture 15 Key Terms

Lecture 16 Sales day book & sales ledger

Section 6: Purchases and purchase records

Lecture 17 Key Terms

Lecture 18 Monitoring & controlling purchases

Lecture 19 Key Terms

Lecture 20 Purchase day book and purchase ledger

Section 7: Cash and Bank

Lecture 21 Key Terms

Lecture 22 Cash and Bank

Section 8: Payroll

Lecture 23 Payroll

Section 9: Reconciliations

Lecture 24 Key Terms

Lecture 25 Reconciliations

Section 10: Trial balance

Lecture 26 Trial balance

Section 11: Revision

Lecture 27 Revision

This course is for complete beginners, providing a starting point for those wanting to pursue a career in accounting as an accounting technician or those wanting to become a professional accountant but who may not meet the entry requirements to start their studies straight away with the ACCA qualification