ACCA Financial Accounting (FA) — Information & Free Practice

About ACCA Financial Accounting (FA)

ACCA Financial Accounting (FA) · GB

Key exam facts

Provider

ACCA is the examination owner and developer; authorised CBE centres deliver the on-demand examination.

Format

On-demand computer-based examination, normally at an exam centre. All questions compulsory: Section A objective tests and Section B multi-task questions. Remote delivery is location-dependent.

Exam questions

Total questions: 37; Scored questions: 37.

Time limit

Two hours of examination time.

Passing score

50% (50 out of 100 available marks).

Exam fee

For FA taken at a CBE centre, the centre sets the exam entry fee; no single ACCA-set GBP amount applies. Obtain the current GBP quotation from the chosen UK centre. Remote exam fees and availability are location-dependent and separate.

Topics covered

• The context and purpose of financial reporting

  • The scope and purpose of financial statements for external reporting
  • Stakeholders’ needs
  • The main elements of financial reports
  • The regulatory framework
  • Duties and responsibilities of those charged with governance

• Accounting principles, concepts and qualitative characteristics

  • Key principles and concepts of accounting
  • Qualitative characteristics of useful financial information

• The use of double-entry bookkeeping and accounting systems

  • Double-entry bookkeeping principles including the maintenance of accounting records
  • General ledger accounts and journal entries

• Recording transactions and events

  • Sales and purchases
  • Cash
  • Inventories
  • Tangible non-current assets
  • Depreciation
  • Intangible non-current assets and amortisation
  • Accrued expenses (accruals), prepaid expenses (prepayments), accrued income, and deferred income
  • Receivables and payables
  • Provisions and contingencies
  • Capital structure and finance costs

• Reconciliations

  • Bank reconciliations
  • Payables account reconciliations

• Preparing a trial balance

  • Trial balance
  • Correction of errors
  • Suspense accounts

• Preparing financial statements

  • Statement of financial position
  • Statement of profit or loss and other comprehensive income
  • Disclosure notes
  • Events after the reporting period
  • Statement of cash flows (excluding partnerships)
  • Incomplete records

• Preparing basic consolidated financial statements

  • Subsidiaries
  • Associates

• Interpretation of financial statements

  • Importance and purpose of analysis of financial statements
  • Ratios
  • Analysis of financial statements

How to prepare

Work through the topics, read the explanation after each answer, and revisit the areas where you miss questions. Use the official outline and reference materials below to guide your study.

These independent practice questions are not actual exam items and do not guarantee a passing result.

Frequently asked questions

Official sources and references

• ACCA Financial Accounting syllabus and study guide 2026–2027

  pp. 8–16, detailed study guide and examining approach

• ACCA FA2 and FA/FFA Examinable Documents 2026–2027

  p. 1, applicability and FA/FFA column

• ACCA Financial Accounting syllabus and study guide 2026–2027

  p. 1, syllabus applicability period

• ACCA FA frequently asked questions

  What is the format of the FA exam?

• ACCA Learning providers FAQs on exams

  What is the pass mark for the examinations?

• ACCA Fees and charges

  Exam fees — Applied Knowledge exams

• ACCA About our exams

  When you can take exams; ACCA Qualification table

• ACCA FA syllabus applicability

  Download the Syllabus and Study Guides

Confirm current exam arrangements with the exam provider.