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Financial Accounting and Reporting 1

Financial Accounting and Reporting 1

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The objective of this paper is to examine your understanding of the theoretical framework of accountancy, your ability to prepare and interpret accounting statements and to prepare appropriate accounts for specialised transactions.

In addition to addressing more advanced applications of the topics covered in Paper 1 Financial Accounting 1 the syllabus covers the following areas:

  1. Accounting Theory
  2. International Accounting Standards
  3. Proprietorship accounting including; sole traders and partnerships, limited companies including basic group accounts, IFRS and the treatment of taxation in accounts
  4. Accounting for specialised transactions
  5. Financial analysis, interpretation and reporting including ratio analysis and statements of cash flows (cash flow statements)

In addition to comprehensive syllabus targeted material our Learning & Practice Workbook offers:

  • Exam focus - we have taken account of recent exams, guidance the examiner has given and the assessment methodology
  • Help to study in the way that best suits your learning style and the time you have available
  • Assistance with creating a personal study plan
  • A way to review your progress through Fast forwards, Exam focus points, Chapter roundups and Quick quizzes
  • Exam question bank containing AIA exam-standard questions with answers
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