Major syllabus areas for fia , fa1 paper and detailed contents are given below:
Types of business transactions and documentation
- Business transactions types
- Business documentation types
- The process of recording these transactions and documents in accounting systems.
The double entry system and duality of transactions
- Books of prime entry
- Dual / Double entry system
- The journal
- Financial statements elements-Proforma & Explanation
Banking system and transactions
- Banking procedures
- Banking documentation
Payroll / Wages
- Wages transactions process and documentation into accounting systems
Ledger accounts
- Preparation of ledger accounts
Cash and bank
- Maintaining a cash book
- Maintaining petty cash book
Sales and credit transactions
- Sales recording procedure
- Customer accounts and control accounts
Purchases and credit transactions
- Purchases recording procedure
- Supplier,s accounts and reconciliations
Reconciliation
- Purpose of control accounts and reconciliations
- Cash book reconciliation
- Receivables control accounts reconciliation
- Payables control accounts reconciliation
Preparing trial balance
- Trial balance preparation
- Correction of errors
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