Financial Accounting (FA)/FFA

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Course availability
On demand
Course price
Estimated effort
50 hours of study in total

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Prepare for ACCA's exam ‘Financial Accounting (FA)/FFA’, part of the ACCA Diploma in Accounting and Business (RQF Level 4).

About this course

Learn the underlying principles and concepts of financial accounting, accounting techniques and the preparation of basic financial statements. 

The course will allow you to demonstrate technical proficiency in the use of double-entry techniques, including the preparation and interpretation of basic financial statements for sole traders, partnerships, companies and simple groups of companies.

Upon completion of this course, you will understand how to:

  • record, process and report business transactions
  • use the trial balance and identify and correct errors
  • draft financial statements
  • apply the qualitative characteristics of useful information.

Completion of this course will also prepare you for the ACCA exam ‘Financial Accounting (FA)/FFA’, one of three exams required to achieve the ACCA Diploma in Accounting and Business (RQF Level 4).

What you will learn

  • Context and purpose of financial reporting
  • Qualitative characteristics of financial information
  • Use of double-entry and accounting systems
  • How to record transactions and events
  • How to prepare a trial balance (including identifying and correcting errors)
  • How to prepare basic financial statements for incorporated and unincorporated entities
  • How to prepare simple consolidated financial statements
  • Interpretation of financial statements.

Entry requirements

Take this course if you’re just starting out in finance, or if you work in finance but do not yet have a professional qualification.

If not, try one of our free courses first:


This course does not offer an edX certificate.

For learners who would like to progress to the ACCA Diploma in Accounting and Business (RQF Level 4), please register with ACCA as a student.

We recommend you study ACCA-X courses: Business and Technology; Management Accounting; and Financial Accounting before taking ACCA’s computer-based exams Business and Technology (BT)/FBT, Management Accounting (MA)/FMA and Financial Accounting (FA)/FFA. You will also need to complete a free, online module called "Foundations in Professionalism".