Financial Accounting (FA/F3) (FA) Exam Blueprint

What This Exam Validates

The ACCA Financial Accounting (FA/F3) exam is a current ACCA qualification paper covering financial statements, double-entry bookkeeping, and preparing basic accounts. It is delivered as a linear computer-based exam with 100 questions and a 120-minute duration. Candidates must achieve a passing score of 50 to clear the paper, and the exam is priced at $137.

Who Should Take This Exam

Students working toward the ACCA qualification who need to demonstrate core bookkeeping and financial reporting competence. It suits early-stage accounting candidates building double-entry and accounts preparation skills.

Skills You Should Be Ready to Demonstrate

• Interpret financial statements
• Apply double-entry bookkeeping principles
• Prepare basic accounts from source records
• Reconcile supplier statements
• Correct errors and clear suspense accounts
• Apply post trial balance adjustments

How to Prepare

Work through the syllabus chapter by chapter using current study notes alongside free lectures, then practise with a current ACCA-approved revision kit. Use online practice questions, flashcards, and a mock exam under timed conditions to build speed for the 120-minute linear format and the 100-question structure.

Domain Study Guidance

Financial statements: Study Guidance

This domain covers the preparation and interpretation of financial statements, including statement of cash flows under IAS 7 using both direct and indirect methods. Candidates must understand presentation and disclosure requirements.

• Statement of cash flows preparation
• Direct and indirect method formats
• IFRS presentation and disclosure
• Interpretation of financial statements

Double-entry bookkeeping: Study Guidance

This domain covers double-entry bookkeeping principles, including recording transactions, maintaining ledger accounts, and applying the conceptual framework. Candidates must understand how computerised accounting systems update records and process entries.

• Double-entry recording rules
• Computerised accounting transactions
• Conceptual framework application
• Sales and purchases ledger entries

Preparing basic accounts: Study Guidance

This domain covers preparing basic accounts, including trial balance adjustments, suspense account clearance, and error correction. Candidates must also reconcile supplier statements and prepare simple consolidated financial statements.

• Post trial balance adjustments
• Suspense accounts and error correction
• Supplier statement reconciliations
• Simple consolidated statements

Exam-Day Guidance

Arrive prepared for a 120-minute linear computer-based exam with 100 questions. Manage your time across objective test questions and constructed response items, aiming for the 50% passing score.