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Aim of FA1 Recording Financial Transactions:

FA1 - Recording Financial Transactions: Aim is to provide the knowledge and practice to help you succeed in the FA1 Recording Financial Transactions. You need a thorough understanding of all the areas covered by the syllabus to pass the exam.

Remember

This PDF is provided as a Demo. This PDF cannot replace the Book at any Cost. We request you use it only in your Desktop and Mobile and Do Not Print It Out. We recommend you to buy the Hard Copy of this book from the Nearest Store or Online from Approved Seller.

What FA1 Recording Financial Transactions is about

The FA1 syllabus, Recording Financial Transactions, presents the candidate with the basics Preparation and recording of financial transactions and processing of ledger documents from originating documents up to the trial balance stage, transactions. It also covers relevant banking procedures related to the banking process, bookkeeping, keeping and reconciling cash and petty cash records, and preparing control and error identification and correction for the journal and relevant accounts.

Approach to examining the syllabus

A two hour computer-based examination evaluates the syllabus. Questions will evaluate all components of the syllabus and both computational and non-computational elements will be included. The examination is going to consists of 50 questions with two marks each. (See page ix for frequently asked computer-based questions Examinations.)

Syllabus and Study guide

By visiting the exam resource finder on the ACCA website, you can find the entire MA1 syllabus and study guide: www.accaglobal.com/uk/en/student/exam-support-resources.html-resources

Recommended Approach to Pass FA1 Recording Financial Transactions

  • Make sure that you are able to answer questions about everything the syllabus. You can not make any assumptions about the questions that come up on your exam.
  • Learning is Active Process. Try to question yourself, i.e. DO YOU KNOW THIS? HOW TO USE IT? Checklists to test your knowledge and understanding of the topics covered by FA1 Financial Transactions Recording by filling in the blank spaces. Then check your answer against DID YOU KNOW? Checklists. In that case, do not try to try any question that you can not fill in any of the blanks. Instead, go back to your Interactive Text and Revise it.
  • Think about the errors you know you should avoid when you are reviewing a topic. At the end of each, ask yourself, DO YOU KNOW THIS?
  • Once you have successfully completed the checklists, you should try the questions on that topic. Each question is worth of 2 marks and a time allocation of 2.4 minutes is carried with it.
  • Once all the questions in the body of this Practice & Revision Kit have been completed, you are now under the exam conditions, the MOCK EXAMS should be attempted at that time. Check your answers against our kits answers to see how well you did.

This strategy is a suggestion only. It may well be adapted to meet your needs by you or your college. Don't forget that this is a practical course.

  • Try relating the material to your workplace experience or any other work experience that you may have had.
  • At the Introductory and Intermediate levels, try to create as many links as you can to other exams.

Before the Exam

Before you take the exam, make sure that you still remember the material by using the following quick revision plan.

  • At the beginning of each chapter, read through the chapter topic list. Any gaps in your knowledge are there? If so, Study the topic again.
  • Read the key terms and learn.
  • Look at the focus points for the exam. These indicate the ways in which topics could be examined.
  • Read the chapter roundups, which in each chapter are a summary of the fast forwards.
  • Again, do those fast quizzes. It shouldn't take long if you know what you're doing.

FA1 - Study Text

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