FA2 - BPP - Maintaining Financial Records - STUDY TEXT and EXAM KIT

Why Maintaining Financial Records (FA2) is introduced?

To gain knowledge and understanding of the underlying principles and concepts relating to the maintenance of financial records, including the preparation of basic financial statements, as well as technical competence in the use of double-entry accounting techniques.

Syllabus of FA2 Maintaining Financial Records

The syllabus for FA2, Maintaining Financial Records, explains the context and purpose of maintaining financial records in relation to account preparation.

The syllabus then delves into the double-entry system and the recording, processing, and reporting of business transactions and events, including non-current asset accounting.

The syllabus discusses the use of the extended trial balance and how errors, such as control account reconciliation and the posting of period-end adjustments, can be identified and corrected.

The syllabus also includes instruction on how to prepare sole proprietorship and partnership final accounts.

Main Capabilities

Candidates must be able to do the following in order to pass the exam:

• Explain generally accepted accounting principles and concepts.
• Describe the fundamental principles and procedures of basic bookkeeping.
• Using ledgers, create journals and accounts.
• Keep track of events and transactions.
• Make a budget for the trial.
• To maintain control, reconcile the accounts and cashbook.
• Extend the trial's balance, revise the year-end process, and prepare final accounts
• Partnerships Account

GOOGLE DRIVE

• FA2 - Maintaining Financial Records - STUDY TEXT
• FA2 - Maintaining Financial Records - EXAM KIT

Any query? Click here to Contact us.