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Prepare for ACCA's exam ‘Financial Accounting’ (FFA/F3), part of the Diploma in Accounting and Business.

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 trail 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’ (FFA/F3), one of three exams required to achieve the ACCA Diploma in Accounting and Business.



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



  • The syllabus for Paper FFA/F3, Financial Accounting, introduces the candidate to the fundamentals of the regulatory framework relating to accounts preparation and to the qualitative characteristics of useful information.
  • The syllabus then covers drafting financial statements and the principles of accounts preparation.
  • The syllabus then concentrates in depth on recording, processing, and reporting business transactions and events.
  • The syllabus then covers the use of the trial balance and how to identify and correct errors, and then the preparation of financial statements for incorporated and unincorporated entities.
  • The syllabus then moves in two directions, firstly requiring candidates to be able to conduct a basic interpretation of financial statements; and secondly requiring the preparation of simple consolidated financial statements from the individual financial statements of group incorporated entities. 


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.

ACCA F3 Financial Accounting (FFA/F3)



22 Eastcheap, London

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