About FA1
Exam Structure
- The Recording Financial Transactions FA1 is a two-hour paper-based, computer-based exam.
- The questions will assess the whole syllabus and cover both computation elements. The exam includes 50 two-mark questions.
SO, Why Choose
Mustafa Mirchawala
Sir Mustafa Mirchawala is a reputed ACCA tutor. His in-depth lectures, practice tests, self-designed notes, and examiner report breakdowns empower you to pass this exam quite easily. He has a remarkable 80% pass rate and global recognition that his students speak for themselves. Sir Mustafa educates learners with a thorough understanding of past papers dissected through online recorded lectures that guarantee success.
Qualifications and Achievements
Demo Lectures
Mustafa Mirchawala is a renowned ACCA tutor. He is widely recognized for his expertise and dedication in the field. Mustafa has been at the forefront of financial reporting education. With over 20 years of teaching experience, he has become a trusted name in the industry, specializing in financial reporting, accounting, corporate reporting, and UK taxation.
Stay ahead in the Exams with Our specialized LMS
TFL-LMS
Our Specialised LMS provides student with the course in well structured manner which ensure effective and efficient study. Customized Testing system in our LMS helps a student to have actual exam experience while attempting homeworks and Mock Exams.
To discover further key features of our LMS, including Access to recorded lectures library, specialized testing system, access to course attachments and comprehensive progress reports, watch our tutorial video.
Watch LMS Walkthrough
COURSE OUTLINE
Types of business transactions and documentation
- Types of business transaction
- Types of business documentation
- Process of recording business transactions within the accounting system
Duality of transactions and the double entry system
- Books of prime entry
- Double entry system
- The Journal
- Elements of financial statements
Banking system and transactions
- The banking process
- Documentation
Payroll
Processing payroll transactions into the accounting system
Ledger accounts
- Prepare ledger accounts
Cash and bank
- Maintaining a cashbook
- Maintaining a petty cashbook
Sales and credit transactions
- Recording sales
- Recording sales
Purchases and credit transactions
- Recording purchases
- Supplier balances and reconciliations
Reconciliation
- Purpose of control accounts and reconciliation
- Reconcile the cashbook
- Reconcile the receivables control account
- Reconcile the payables control account
Preparing the trial balance
- Prepare the trial balance
- Correcting errors
Frequently Asked Questions
What is the ACCA-FIA qualification?
The ACCA-FIA is designed as an entry-level accounting certification. It provides basic knowledge and skills in finance and accounting.
What previous qualification is required to enroll in the ACCA FIA qualification?
You do not need to have any qualifications. After qualifying for all seven exams, you become eligible for entry into the ACCa qualification.
How long does it take to complete the FIA ACCA?
The complete ACCA qualifications, from basic to advanced, are designed to provide maximum flexibility, so there is no fixed deadline for completion.
In what order should I take the ACCA and FIA exams?
Educators suggest beginning with the FA1 and MA1 exams, proceeding to the FA2 and MA2 exams, and ending with the FMA, FBT, and FFA exams.
