ACCA Diploma in Accounting and Business / Applied Knowledge (RQF Level 4)

Unit: Financial Accounting (FFA)

The aim of this unit is to develop a knowledge and understanding of the underlying principles and concepts relating to financial accounting and technical proficiency in the use of double-entry accounting techniques including the preparation of basic financial statements.

Entry requirements:

There are two ways to be able to enter into this level of study:

You have completed ACCA (RQF Level 3) Diploma in Financial and Management Accounting.


You have 3 GCSE’s and 2 A Levels (or equivalent qualifications) including maths and English, and you are working in an accounting environment.

Length of unit     7 weeks (not including exam)


Study options (Weekday) 9.30 am to 12.30                                      pm and 1.30 pm to 4.30 pm


Duration of session     6 hours


Cost of unit                  £300

Cost includes: Classroom structured tuition, all study resources, additional on-line support, full mock assessment.


Additional cost: Exam booked with external exam centre. Current price approximately £90


Assessment method: Computer based exam. Two sections: Section A contains 35 short questions. Section B contains 2 detailed questions. 2 hours in length. Pass mark 50%


ACCA membership: To be eligible to study any ACCA qualification you must be a fully paid member of the association. Costs will be quoted on the ACCA website.


Qualification Attained: To attain the full RQF Level 4 Diploma in Accounting and Business (Applied Knowledge) you will be required to complete the Accountant in Business unit (FAB) and Management Accounting unit (FMA).




Check through this list of questions and if you answer 5 or more with a Yes response then this may be the course for you.

  1. Have you successfully completed a recognised Level 3 Accounting course, or attained the required level of success at GCSE and A level? (Mandatory Yes answer)
  1. Are you comfortable using a computer?
  2. Would you like to acquire the skills and knowledge required to be employed in an accounting role?
  3. Are you currently employed in an accounts position and require a qualification to support your work experience?
  4. Are you returning to work in an accounting environment and need to refresh your understanding of accounts at Level 4?
  5. Would you like to change your existing work role to develop your accounting skills to become a fully qualified accountant through ACCA?
  6. Are you able to attend every session of the course?
  7. Are you punctual?
  8. Do you feel comfortable working with numbers?
  9. Are you able to travel to the course premises in Liverpool without any difficulty?

Is this the right course for you?

Syllabus Content: On successful completion of this unit, candidates should be able to:

  • Explain the context and purpose of financial reporting
  • Define the qualitative characteristics of financial information
  • Demonstrate the use of double-entry and accounting systems
  • Record transactions and events
  • Prepare a trial balance (including identifying and correcting errors)
  • Prepare basic financial statements for incorporated and unincorporated entities
  • Prepare simple consolidated financial statements
  • Interpretation of financial statements