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ACCA Fundamentals - subject synopsis F1
Accountant in Business (AB)
To develop knowledge and understanding of the business
environment and the influence this has on how organisations
and accountants operate, and of the role of the accountant
and other key business functions in contributing to an
efficient, effective and ethical organisation, and to build
knowledge and understanding of the basic principles of
effective management.
F2 Management Accounting (MA)
To develop knowledge and understanding of how to prepare
and process basic cost and quantitative information to
support management in planning and decision-making in a
variety of business contexts.
F3 Financial Accounting (FA)
To develop knowledge and understanding of the underlying
principles, concepts and regulations relating to financial
accounting and technical proficiency in the use of
double-entry accounting techniques, including the
preparation of basic financial statements.
F4 Corporate & Business Law (CL)
To develop knowledge and skills in the understanding of
the general legal framework, and of specific legal areas
relating to business, recognising the need to seek further
specialist legal advice where necessary.
F5 Performance Management (PM)
To develop knowledge and skills in the application of
management accounting techniques to quantitative and
qualitative information for planning, decision-making,
performance evaluation and control.
F6 Taxation (TX)
To develop knowledge and skills relating to the tax
system as applicable to individuals, single companies, and
groups of companies.
F7 Financial Reporting (FR)
To develop knowledge and skills in understanding and
applying accounting standards and the theoretical framework
in the preparation of financial statements of entities,
including groups, and how to analyse and interpret those
financial statements.
F8 Audit & Assurance (AA)
To develop knowledge and skills in the process of
carrying out the assurance engagement and its application in
the context of the professional regulatory framework.
F9 Financial Management (FM)
To develop knowledge and skills expected of a financial
manager - relating to issues affecting investment,
financing, and dividend policy decisions.
Source: ACCA website
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