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ACCA FA2 – Maintaining Financial Records

Take your financial accounting skills to the next level with FA2. Expert-led, exam-focused and built for students progressing through the ACCA Foundation Diploma.

WHAT YOU'LL LEARN

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Advanced double-entry bookkeeping

Record complex transactions accurately using established accounting principles.

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Preparing financial statements

Produce income statements and balance sheets for sole traders and partnerships.

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Control accounts & reconciliations

Prepare and reconcile sales, purchases and bank control accounts.

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Adjustments & corrections

Handle accruals, prepayments, depreciation and correction of errors.

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Full FA2 syllabus coverage

Every topic and exam objective. Aligned with the latest ACCA syllabus materials.

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Exam technique

Objective test confidence and time management for exam day.

THIS COURSE INCLUDES

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Syllabus Topic Videos

Full HD lecture videos for every FA2 topic

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Kit Question Videos

Worked solutions with exam technique guidance

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Chapter-by-Chapter Quizzes

Chapter-by-Chapter Quizzes Graded quizzes with automated feedback

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Exam-Focused Study Notes

Concise notes written for the FA2 exam

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Tutor Support via WhatsApp

Direct access to your tutor throughout

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Weekly Live Sessions

Bonus pre-exam sessions — recordings available

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Final Mock Exam

Full exam-style mock with tutor feedback

ACCA FA2 Exam Paper Overview

The ACCA Maintaining Financial Records (FA2) paper is part of the Foundations in Accountancy (FIA) qualification and is designed to advance students’ understanding of core accounting processes beyond basic bookkeeping. It focuses on the preparation and maintenance of accurate financial records, along with introducing the skills required to produce financial statements. The ACCA FA2 syllabus is suitable for students who already have a basic grasp of accounting and are looking to develop a more practical and structured approach to financial reporting.

ACCA FA2 Exam Syllabus and Structure

The ACCA FA2 syllabus includes important topics such as the preparation of financial statements for sole traders, accounting adjustments, and maintaining complete and reliable financial records. Students gain knowledge of key adjustments like accruals, prepayments, depreciation, and inventory valuation. The syllabus also explores areas such as incomplete records and control accounts, helping students understand how to deal with more detailed and realistic accounting situations.

The ACCA FA2 exam is a computer-based exam made up entirely of objective test questions, including multiple-choice and scenario-based tasks. It is designed to assess both technical understanding and the ability to apply accounting principles in practical contexts. Compared to earlier-level papers, FA2 places more emphasis on financial statement preparation and adjustments, requiring a higher level of accuracy and time management.

To perform well in ACCA FA2, students should focus on practicing the application of concepts through a variety of exam-style questions. Regular practice will help improve both confidence and accuracy. Greater attention should be given to areas such as adjustments, financial statements, and incomplete records. Following a consistent study plan, attempting mock exams under timed conditions, and using FIA-approved study materials can significantly enhance performance and support success in the exam.

WHAT'S INCLUDED

Everything you need to pass

Your course package gives you complete access to all the resources, support, and tools you need to study effectively and pass your exam.

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Lecture Videos

36 hrs

Complete syllabus coverage with professional HD lecture videos you can watch at your own pace.

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Complete study notes

Comprehensive, printable study notes structured exactly to the syllabus.

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Chapter quizzes

Chapter-by-chapter quizzes to test your understanding before moving on.

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Live sessions

Pre-exam live online session for additional practice (recordings available).

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Question videos

30 hrs

Extensive worked examples walking through past exam questions step by step.

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Customized study plan

Personalized study plan with mobile app to track your daily progress.

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Tutor support

Active tutor support over WhatsApp groups — ask questions and get answers fast.

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Mock exam

Final mock exam with detailed feedback to prepare you for the real thing.

FA2 (Maintaining Financial Records) is an intermediate paper within the ACCA Foundations in Accountancy (FIA) qualification. It is designed for students who have completed FA1 or have equivalent bookkeeping knowledge, and who wish to progress towards the Certified Accounting Technician (CAT) qualification or the Applied Knowledge level of the ACCA qualification.

Most students require between 7 and 9 weeks of structured study, totalling approximately 80 to 100 hours. Study time can vary by individual — some students may need slightly more or less. FA2 builds on the bookkeeping foundations from FA1 and introduces more complex accounting adjustments, so consistent study, regular question practice, and timed mock attempts are essential for success.

The syllabus covers generally accepted accounting principles and concepts, the principles and process of basic bookkeeping, preparing journals and ledger accounts, recording transactions and events (including accruals, prepayments, depreciation, and irrecoverable debts), preparing a trial balance (including identifying and correcting errors), reconciliations, and preparing basic financial statements for sole traders and partnerships.

The FA2 exam is a 2-hour computer-based exam (CBE) consisting of 50 objective test questions, each worth 2 marks, giving a total of 100 marks. Questions include multiple choice, number entry, and matching formats. The pass mark is 50%, and the exam is available on demand throughout the year at approved centres.

FA1 is not a formal prerequisite, but it is strongly recommended. FA2 assumes a solid understanding of double-entry bookkeeping, ledger accounts, and the trial balance. Students who skip FA1 without equivalent knowledge often struggle with the more advanced adjustments and reconciliations tested in FA2.

FA1 focuses on recording basic financial transactions under supervision. FA2 advances this by introducing accounting adjustments, partnership accounts, and the preparation of simple financial statements. FA (Financial Accounting) at the Applied Knowledge level then takes students further into full financial statement preparation under IFRS principles and incorporated entities.

The leading causes of failure include weak understanding of accruals and prepayments, poor handling of depreciation and irrecoverable debts, confusion with control account and bank reconciliations, inadequate practice of partnership accounts, and careless reading of exam requirements. Many students also underestimate the paper and skip timed mock exams.

Our course includes live interactive tutor support, updated-recorded lectures for flexible preparation, comprehensive study notes, customized study planner, weekly basis live sessions, adjustments and reconciliations workshops, topic related quizzes, progress tests, detailed marking feedback, and 2 full mock exams with examiner-style debriefs. Students also gain access to our question bank for kit questions practice.

Course Content

Course Pricing

ACCA FA 2 - 4 Months Access

$130 USD

  • Complete Course With Tutor Support

    • Four months access and tutor support
    • Detailed video lectures on complete syllabus
    • Video lectures for exam questions and solutions
    • Exam practice question videos
    • Short notes
    • Online quizzes
    • Active Tutor support until exam day
    • Final mock exam
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ACCA FA 2 - 6 Months Access

$150 USD

  • Complete Course With Tutor Support

    • Six months access and tutor support
    • Detailed video lectures on complete syllabus
    • Video lectures for exam questions and solutions
    • Exam practice question videos
    • Short notes
    • Online quizzes
    • Active Tutor support until exam day
    • Final mock exam
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