ACCA Diploma in Financial and Management Accounting (RQF Level 2)

Unit: Recording Financial Transactions (FA1)

The aim of this unit is to develop a knowledge and understanding of the main types of business transactions and documentation, and how these are recorded in an accounting system up to the trial balance stage.

Entry requirements:

There are no formal entry requirements; however, it is important that you have good basic skills in numeracy and literacy which will be assessed during the enrolment process.

Length of unit    10 weeks (not including exam)


Study options    9.30 am to 12.30 pm or 5.30 pm

                                         to 8.30 pm


Duration of session       3 hours


Cost of unit                     £250

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. 50 multiple choice 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 2 Diploma in Financial and Management Accounting you will be required to complete the Management Information unit (MA1).




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. Are you new to accounting?
  2. Are you comfortable using a computer?
  3. Would you like to acquire the foundation skills and knowledge required to be employed in an accounting role?
  4. Are you currently employed in an accounts position and require a qualification to support your work experience?
  5. Are you returning to work in an accounting environment and need to refresh your understanding of basic accounts at Level 2?
  6. Would you like to change your existing work role to develop your accounting skills to become a fully qualified accountant through ACCA?
  7. Are you able to attend every session of the course?
  8. Are you punctual?
  9. Do you feel comfortable working with numbers?
  10. 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 and understand the following:


  • Types of business transactions and documentation
  • Duality of transactions and the double entry system
  • Banking system and transactions
  • Posting of payroll into the accounts
  • Ledger accounts
  • Cash and bank
  • Sales and credit transactions
  • Purchases and credit transactions
  • Reconciliation and preparing the trial balance