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Covering:

• FA 1 recording Financial tranactions
• MA 1 Management Information

Covering:

• FA2 Maintaining Financial Records 
• MA2 Managing Costs and Finance 

Covering:

• FBT Business and Technology 
• FMA Management Accounting
• FFA Financial Accounting 

 ■ FA1 Recording Financial Transactions ■ MA1 Management Information 

Objective:

The objective of FA1 is to introduce you to the fundamentals of financial accounting and basic double-entry bookkeeping.

Syllabus:

The FA1 syllabus is divided into several areas. Below is an overview of the major topics covered:

1. The Role of Accounting in Business:

- Understand the purpose of financial accounting and the different types of business transactions.

- Importance of accurate financial reporting.

2. Types of Business Transactions and Documentation:

- Sales and purchases (credit and cash).

- Documentation related to financial transactions (invoices, credit notes, remittance advice).

3. Double-entry Bookkeeping:

- The dual aspect of accounting and basic double-entry bookkeeping.

- Recording transactions in ledger accounts.

4. Bank Reconciliations:

- Preparing a bank reconciliation and understanding the differences between the cash book and the bank statement.

5. Payroll Accounting:

- Basic understanding of payroll, including wages and salaries, statutory deductions, and payroll accounting entries.

6. Trial Balance and Financial Statements:

- Preparation of a trial balance.

- Preparation of simple financial statements (income statement and statement of financial position).

■ FA2 Maintaining Financial Records 

■ MA2 Managing Costs and Finance  Objective:

MA1 introduces management accounting and basic cost information for decision-making. This includes understanding how businesses generate information to manage operations, control costs, and make financial decisions.

The MA1 syllabus covers several key areas:

1. The Nature of Business and Management Accounting:
   The role of management accounting in business and decision-making.
   • The difference between financial accounting and management accounting.

2. Cost Classification and Cost Behaviour:

• Types of costs: direct vs. indirect costs, fixed vs. variable costs.
• Understanding cost behavior and the concept of cost centers.

3.  Recording Costs:
Basic cost accounting entries.

• How to record direct materials, direct labor, and overheads.

4. Costing Methods:

• Introduction to various costing methods such as job costing, process costing, and absorption costing.
• Understanding the importance of costing in pricing and profitability analysis.

5. Introduction to Budgets:

The purpose of budgets in business planning and control.

• Basic budget preparation and variance analysis.

6. Decision-making and Breakeven Analysis:
Understanding breakeven point and the relationship between costs, volume, and profit (CVP analysis).

• Basic decision-making techniques using cost information.

 ■ FBT Business and Technology 

■ FMA Management Accounting 

■ FFA Financial Accounting 

Objective:

The objective of this diploma is to develop your core knowledge and skills in the areas of financial accounting, management accounting, and business. It serves as a stepping stone toward more advanced ACCA qualifications and provides the skills necessary for a wide range of accounting and finance roles in various industries.

Upon completion of the diploma, students will:

- Have a clear understanding of financial and management accounting principles.

- Be able to prepare financial statements, analyze financial information, and use management accounting techniques to aid decision-making.

- Understand the role of business organizations, their structure, and management functions.

The diploma consists of three key papers:

1. BT – Business and Technology (formerly FBT or F1)

2. FA – Financial Accounting (formerly FFA or F3)

3. MA – Management Accounting (formerly FMA or F2)

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Detailed Syllabus for the ACCA Diploma in Accounting and Business

1. Business and Technology (BT)

Objective:

This paper introduces the role of a business, its environment, and the influence of technology on business operations. It provides an understanding of how different functions within a business (e.g., marketing, finance, HR) work together.

Syllabus Overview:

1. Business Organizations and Structure:

- Types of business organizations (e.g., sole traders, partnerships, corporations).

- Business organization structure and functions.

- Governance, stakeholder relationships, and agency theory.

2. Business Environment:

- External environmental influences: PESTEL analysis (Political, Economic, Social, Technological, Environmental, Legal).

- Competitive forces: Porter's Five Forces.

- Impact of globalization and technological advancements on businesses.

3. Business Functions:

- Marketing, operations, finance, human resources, and IT functions within a business.

- Relationship between business functions and their contribution to overall objectives.

4. Organizational Culture and Ethics:

- Organizational culture and its impact on business performance.

- Corporate social responsibility (CSR) and ethical considerations in business.

5. Accounting and Finance:

- Introduction to financial statements and basic principles of financial management.

- Role of accounting and finance in business decision-making.

6. Technology in Business:

- Role of information technology (IT) in business processes.

- E-commerce, digital transformation, and emerging technologies (e.g., AI, blockchain).