F3 Financial Accounting

ACCA F3 paper comes with a well designed syllabus that helps new comers to understand the basics and also enable them to quickly grasp some of the advanced accountancy knowledge that will be required heavily at the later stage in ACCA course. ACCA F3 starts with introducing the very purpose of accountancy and what kind of information is regulated using international accounting standards and what in fact make the financial information useful for its users. Beside that, it explains the basic accounting concepts and how bookkeeping is done and how accounting records are maintained. It also involves the preparation of financial statements for sole traders, partnerships and companies. Moving further and taping advanced concepts like correction of errors, use of control accounts and preparing complete set of financial statements using incomplete (single entry) records.

Principal Objectives
By the end of ACCA F3 syllabus students are required to have sound knowledge about:
  1. Why organizations and other users of financial information need such information and how it helps them in making many of economic decisions rationally.
  2. What are the different elements of financial information and how they are interconnected with each other and what is accounting equation
  3. Role of International Accounting Standards Board (IASB) and how it regulates the financial information of entities around the world and the need for international accounting standards
  4. The qualitative characteristics that every financial information must posses the role of IASB conceptual framework
  5. How bookkeeping is done and what are the different business transactions and how they are recorded in books of account
  6. The accounting cycle and the importance of primary book of entries, ledgers and how they are connected with each other
  7. Preparing trial balance and the challenges faced by accountants while preparing trial balance and the different ways to overcome such challenges
  8. Preparing financial statements for different forms of entities and how they are different
  9. Preparing complete set of financial statements from incomplete records
Exam Format

ACCA – F3 is examined through Computer Based Examination (CBE) or Paper Based Exam. Each paper contains 50 two-marks questions. Format of questions will of varying nature i.e. they can be multiple type, multiple response, number entry etc.
Questions will be covering both computational and discursive aspects of the subject and to pass students are required to secure 50% marks.

ACCA F3 [FIA FFA]Financial Accounting Video Lectures

Access FREE ACCA – F3 video lectures exclusively available on this website. These video lectures give you all the tips, tricks and guidance to top your F3 syllabus and pass the exam with great confidence.

  • CLICK here for ACCA – F3 related prep-tips video lectures
  • CLICK here to suggest a topic for which you need a tip
  • CLICK here to share your own tip(s)


ACCA F3 [FIA FFA] Financial Accounting Revision Notes

Access FREE ACCA – F3 Revision Notes exclusively designed to memorize and grab key areas of ACCA – F3 syllabus. These ACCA F3 notes can work with any official study text book

Access FREE ACCA F3 Study Notes

ACCA F3 [FIA FFA] Financial Accounting Practice Questions

Access FREE ACCA – F3 Practice questions. As past papers for ACCA – F3 are not available these practice questions can help in great to deal to practice different concepts examinable in ACCA – F3 course.

Access FREE ACCA F3 Practice Kit

ACCA F3 [FIA FFA] Financial Accounting Mock Exams

Access eX-clusive! FREE ACCA – F3 Mock Exams. These free mock exams enable you to check, test, stress yourself in every possible way so that you enter exam hall confident. These mock exams come in MCQs format and also include other types of questions.

Access FREE ACCA F3 Mock Exams

ACCA F3 [FIA FFA] | Financial Accounting Exam Tips

Learn what tips, tricks and topics you must have studied before you sit for an exam. These exam tips specifically details important areas of ACCA – F3 course

Access FREE ACCA F3 Exam Tips

ACCA F3 [FIA FFA] | Financial Accounting Ask Tutor | QnA

i – ask! portal lets you ask your question directly from our teachers.
Whether it be a subject related question or a topic specific or simply need an advice on how to manage your studies.

Access All ACCA F3 Answered Questions