FFA Textbook Syllabus

A1. The scope and purpose of FS for external reporting

1. A1a. Recording, analysing and summarising financial data
2. A1c. Types of business entities
3. A1c. The legal differences
4. A1d. Advantages and disadvantages of operating
5. A1e. Nature, principles and scope of financial reporting
6. A1a. Purpose and role

A2. Users’ and stakeholders’ needs

1. A2a. The users of financial statements

A3. The main elements of financial reports

1. A3a. The main financial statements
2. A3b. Definitions of Assets Liabilities ...

A4. The regulatory framework

1. A4a. The role of the regulatory systems
2. A4b. IFRS AC and IFRS IC

A5. Duties and responsibilities of those charged with governance

1. A5a. Governance in preparation of financial statements
2. A5b. Duties and responsibilities of directors in preparation of financial statements

B1. The qualitative characteristics of financial information

1. B1a. Qualitative characteristics
2. B1b. Accounting concepts

C1. Double-entry book-keeping principles

1. C1a. Business transactions
2. C1bf. Contents and purpose of business documentation
3. C1c. Double entry accounting
4. C1d. Accounting equation

C2. Ledger accounts, books of prime entry and journals

1. C2a. Uses of journals
2. C2b. Ledger accounts and books of prime entry
3. C2d. Balance and close a ledger

D1. Sales and purchases

1. D1d. Calculate sales tax
2. D1c. General principles of a sales tax
3. D1ef. Account for discounts allowed/received

D2. Cash

1. D2b. Cash transactions

D3. Inventory

1. D3a. Adjustments for inventory
2. D3b. Opening and closing inventory
3. D3c. Alternative methods of valuing
4. D3d. IASB requirements
5. D3e. Costs included in valuing inventories
6. D3f. Continuous and period end inventory records
7. D3g. FIFO and AVCO
8. D3h. The impact of accounting concepts
9. D3i. Inventory valuation methods
10. Disclosure notes

D4. Tangible non-current assets

1. D4a. Definition.
2. D4b. Current and non-current assets
3. D4c. Capital and revenue items
4. D4d. Classify expenditure
5. D4e. Acquisition and disposal of non-current assets
6. D4f. Profits or losses on disposal
7. D4gh. Revaluation of a non-current asset
8. D4i. Non-current asset balances and movements
9. D4j. Asset register

D5. Depreciation

1. D5a. Purpose of depreciation
2. D5b. Straight line and reducing balance methods
3. D5c. Different methods of appropriate depreciation
4. D5f. Change in useful life.
5. D5d. Recording Depreciation

D6. Intangible non-current assets and amortisation

1. D6a. Difference between tangible and intangible
2. D6b. Types of intangible assets
3. D6c. Research costs and development costs
4. D6d. Amounts to be capitalised
5. D6e. Purpose of amortisation
6. D6f. Charge for amortisation
7. Disclosure notes

D7. Accruals and prepayments

1. D7a. Matching concept
2. D7b. Adjustments needed
3. D7c. Reversal of Acrruals and Prepayments
4. D7d. Accrued and deferred Income.
5. D7e. Impact on profit and net assets

D8. Receivables and payables

1. D8b. Offering credit facilities to customers
2. D8c. Aged receivables analysis
3. D8d. The purpose of credit limits
4. D8eg. Write off an irrecoverable debt
5. D8f. An irrecoverable debt recovered
6. D8h. Create and adjust an allowance for receivables
7. D8i. Movements in allowance for receivables
8. D8k. Supplier statements

D9. Provisions and contingencies

1. D9a-f. Provisions.
2. D9a-f. Contingent liability.
3. D9a-f. Contingent asset.

D10. Capital structure and finance costs

1. Introduction
2. D10a. Capital structure - limited liability company
3. D10ai. Ordinary shares.
4. D10aii. Preference Shares.
5. D10aiii. Loan notes.
6. D10b. Share capital and share premium
7. D10c. Other reserves
8. D10d. Bonus (capitalisation) issue
9. D10f. Effects of a bonus issue in SFP
10. D10e. Rights issue.
11. D10g. Effects of a rights issue in SFP
12. D10h. Record dividends
13. D10i. Finance costs
14. D10j. Statement of changes in equity

E1. Trial balance

1. E1abc. The purpose of a trial balance
2. E1d. Limitations of a trial balance

E2. Correction of errors

1. E2a. Types of error
2. E2b. Errors highlighted by trial balance
3. E2c. Journal entries to correct errors
4. E2d. Impact of errors

E3. Control accounts and reconciliations

1. E3a. Purpose of control accounts
2. E3b. Control accounts and double-entry system
3. E3c. Control accounts from given information
4. E3d. Control account reconciliation
5. E3f. Correct errors

E4. Bank reconciliations

1. E4a. Purpose of bank reconciliations
2. E4b. Differences between cash book and bank statement
3. E4c. Correct cash book errors and/or omissions
4. E4def. Bank reconciliation statement

E5. Suspense accounts

F1. Statements of financial position

1. F1abc. Statement of financial position.
2. F1e. Extracts of a statement of financial position
3. IAS 1 (revised) Presentation of FS
4. Statements of financial position

F2. Statements of profit or loss and other comprehensive income

1. F2a. Statement of profit or loss
2. Statement of changes in equity
3. F2b. Revenue Recognition - IFRS 15 - 5 steps
4. F2b. Revenue Recognition - IFRS 15 - introduction
   7:20
5. F2b. Revenues - Presentation in financial statements
6. Statement of profit or loss and other comprehensive income
7. Under and overprovision of tax

F3. Disclosure notes

1. F3a. Purpose of disclosure notes
2. Non current assets including tangible and in tangible assets
3. Provision
4. Events after the reporting periods
5. Inventories

F4. Events after the reporting period

1. F4a. Event after the reporting period
2. F4b. Adjusting or non-adjusting
3. F4c. Reporting events

F5. Statements of cash flows (excluding partnerships)

1. F5a. Differences between profit and cash flow
2. F5c. Benefits and drawbacks
3. F5d. The effect of transactions on cash flows
4. F5e. Calculate the figures needed
5. F5f. Direct Method

F6. Incomplete records

1. F6a. Incomplete records
2. F6ai. Accounting equation.
3. F6aii. Calculate missing figures

G1. Subsidiaries

1. G1a. Terms
2. G1b. Group structure
3. G1c. Preparing a consolidated SFP.
4. G1d. Goodwill
5. Non-controlling interest (NCI)
6. Pre- and Post-Acquisition Profits
7. Fair Value of Assets and Liabilities
8. Share for share exchanges.
9. Intra Group Balances
10. Unrealised Profit.
11. Consolidated statement of comprehensive income.

G2. Associates

1. G2ab. Definition Associate
2. G2c. Equity accounting

H1. Importance and purpose of analysis of financial statements

1. H1a. Interpretation of ratios

H2. Ratios

1. H2ai/b. Profitability Ratios
2. H2aii/b. Liquidity Ratios.
3. H2aiii/b. Efficiency Ratios.
4. Debt and Gearing Ratios