This module prepares you for the ACCA Professional Paper F3 examination.

The aim of this module is to develop knowledge and understanding of the application of techniques to prepare year end financial statements and the interpretation of financial statements for a range of organisational forms.

On completion of this paper candidates should be able to:

• describe the role and function of external financial reports and identify their users
• explain the accounting concepts and conventions present in generally accepted accounting principles
• record and summarise accounting data
• maintain records relating to capital acquisition and disposal
• prepare basic financial statements for incorporated enterprises, sole traders and partnerships
• appraise financial performance and the position of an organisation through the calculation and review of basic ratios and
• demonstrate the skills expected in Part 1.
  

Prepare you for ACCA Paper F3 exam.

Important Notes: Some of the screens in the lessons may bear marks referring to course code prior to the December 2007 syllabus. While there is a revamp of the ACCA syllabus, many of the topics, especially those addressing generic areas are still the same. Our instructors had reviewed the syllabus, and had taken out topics that are no longer relevant, and inserted or replaced lessons to address new topics. The lessons in the module therefore fully addressed the post December 2007 syllabus.

General framework incorporated enterprises, partnerships and sole traders, forms of capital and capital structures, application of International Accounting Standards to the preparation and presentation of financial statements, role of the International Accounting Standards Committee and other relevant bodies.

Basic accounting concepts and principles historic cost, matching/accruals, prudence, consistency, materiality.

Double-entry book-keeping and accounting systems types of business documentation, form and content of accounting records, books of original entry, accounts receivable and payable ledgers, cash book, general ledger, trial balance, accruals, prepayments and adjustments, control accounts, bank reconciliation statements, asset registers, petty cash operations, general principles of the operation of a sales tax, incomplete records.

Accounting treatments current assets, capital expenditure (characteristics of capital assets, tangible and intangible non-current assets, distinction between capital and revenue expenditure), depreciation (general principles and methods, application of straight line, reducing balance and sum of digits methods), liabilities, shareholders equity, contingencies and events after the balance sheet date.

Financial statements uses of and users, key features - balance sheet, income statement, cash flow statement and notes to the accounts: function, form and method of preparation for incorporated enterprises (including general principles of consolidation), partnerships and sole traders.

Interpretation of accounting information for different types of organisation to assess performance, liquidity and vulnerability; use of accounting ratios, trend analysis, performance indicators.

Lecturer: Ms Chan Po Jan

Ms Chen obtained the Bachelor of Economics (Accounting) from the University of Adelaide, Australia in 1988, and is a member of the Australian Society of Certified Practicing Accountants and the Institute of Certified Public Accountants of Singapore. She has extensive experience both in audit where she worked for KPMG Peat Marwich for a few years engaging in external audit of public companies. She is also very experience in financial accounting, being an accountant for the International Commission on Occupational Health, an affiliation of WHO, and the Centre for Molecular Epidemiology, NUS.

Throughout her career, Ms Chen is also very much involved with academic work, having taught accounting courses for the National University of Singapore, Universitas Global 21, University of Southern Australia and Ngee Ann Polytechnics.

Included with this subscription are the following.

1. Access to Outreach virtual classroom lessons
2. Online assessment tests
3. PDF copies of lecture notes.

Click here to download sample lesson. Save the downloaded executable file to your local harddisk. Double click on the file to run and view lesson. The file about 6 - 8MB in size and may take a while to download for slow Internet links.
Note that NOTHING will be installed on your computer when you run this file. Simply delete this file when you do not need it anymore.

Terms and Conditions:
For the subscription price stated below, you will have unlimited access to all the lessons in this module, during the access period (as stated below).

Note that the subscription price DOES NOT include ACCA membership fees or examination fees. You will have to liase with ACCA UK, and any membership and examination fees shall be paid directly to ACCA UK.

Refund: For refund request after purchase, please refer to our Refund Policy listed on our home page.

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