Maintaining Financial Records (FA2)

Maintaining
Financial
Records
(FA2)
Syllabus and study guide

September 2023 to August 2024

Designed to help with planning study and to provide

detailed information on what could be assessed in any
examination session

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 Maintaining Financial Records (FA2)

Contents
1. Intellectual levels ..................................... 3
2. Learning hours and education recognition
...................................................................3
3. Qualification structure ............................. 3
4. Guide to ACCA examination structure and
delivery mode ............................................. 4
5. Guide to ACCA examination assessment 4
6. Relational diagram linking Maintaining
Financial Record (FA2) with other exams.... 5
7. Approach to examining the syllabus ........ 5
8. Overall aim of the syllabus ...................... 5
9. Introduction to the syllabus...................... 5
10. Main capabilities ................................... 6
11. The syllabus .......................................... 7
12. Detailed study guide.............................. 8
13. Summary of changes to Maintaining
Financial Records (FA2) ........................... 14

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 Maintaining Financial Records (FA2)

1. Intellectual levels 2. Learning hours and

education recognition
ACCA qualifications are designed to
progressively broaden and deepen the
As a member of the International Federation
knowledge and skills demonstrated by the
of Accountants, ACCA seeks to enhance the
student at a range of levels on their way
education recognition of its qualification on
through each qualification.
both national and international education
frameworks, and with educational authorities
Throughout, the study guides assess both
and partners globally. In doing so, ACCA
knowledge and skills. Therefore, a clear
aims to ensure that its qualifications are
distinction is drawn, within each subject
recognised and valued by governments and
area, between assessing knowledge and
regulatory authorities and employers across
skills and in assessing their application
all sectors. To this end, ACCA qualifications
within an accounting or business context.
are currently recognised on the educational
The assessment of knowledge is denoted by
frameworks in several countries. Please
a superscript K and the assessment of skills
refer to your national education framework
is denoted by the superscript S.
regulator for further information about
recognition.

3. Qualification structure

The qualification structure requires candidates who wish to be awarded the ACCA Diploma
in Financial and Management Accounting (RQF Level 3) to pass both the FA2 and MA2
examinations and successfully complete the Foundations in Professionalism module.

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 Maintaining Financial Records (FA2)

4. Guide to ACCA 5. Guide to ACCA

examination structure examination assessment
and delivery mode ACCA reserves the right to examine
The Foundations examinations contain anything contained within any study guide
100% compulsory questions to encourage within any examination session. This
candidates to study across the breadth of includes knowledge, techniques, principles,
each syllabus. theories, and concepts as specified.

All Foundations examinations are assessed For specified financial accounting, audit and
by two-hour computer-based examinations. tax examinations, except where indicated
otherwise, ACCA will publish examinable
The pass mark for all FIA examinations is documents once a year to indicate exactly
50%. what regulations and legislation could
potentially be assessed within identified
examination sessions.

For this examination, regulation issued or

legislation passed on or before 31 August
annually, will be assessed from 1 September
of the following year to 31 August of the year
after. Please refer to the examinable
documents for the exam (where relevant) for
further information.

Regulation issued or legislation passed in

accordance with the above dates may be
examinable even if the effective date is in
the future. The terms ‘issued’ or ‘passed’
relate to when regulation or legislation has
been formally approved.

The term ‘effective’ relates to when

regulation or legislation must be applied to
entity transactions and business practices.

The study guide offers more detailed

guidance on the depth and level at which the
examinable documents will be examined.
The study guide should therefore be read in
conjunction with the examinable documents
list.

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 Maintaining Financial Records (FA2)

6. Relational diagram linking Maintaining Financial Record

(FA2) with other exams

The Foundations in Accountancy suite of qualifications is designed so that a student can

progress through three discrete levels; RQF Level 2, 3, and 4. However, entry is possible at
any point. Students are recommended to enter Foundations in Accountancy at the level
which is most appropriate to their needs and abilities and to take examinations in order, but
this is not a requirement.

7. Approach to examining the syllabus

The syllabus is assessed by a two-hour computer-based examination. Questions will assess

all parts of the syllabus and will include both computational and non-computational elements.
The examination will consist of 50 two-mark questions.

8. Overall aim of the syllabus

To develop knowledge and understanding of the underlying principles and concepts relating
to maintaining financial records and technical proficiency in the use of double entry
accounting techniques including the preparation of basic financial statements.

9. Introduction to the syllabus

The syllabus for FA2, Maintaining Financial Records, introduces the context and purpose of
maintaining financial records with reference to accounts preparation. The syllabus then
concentrates in-depth on the double entry system and on recording, processing, and
reporting business transactions and events, including the specific accounting for non-current
assets. It also covers how to identify and correct errors, including the use of reconciliations,
and the posting of year-end adjustments. Finally, candidates will use the knowledge and
skills developed earlier in the syllabus to prepare financial statements for sole traders and
partnerships.

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 Maintaining Financial Records (FA2)

10. Main capabilities

On successful completion of this exam, candidates should be able to:

A Explain accounting principles, concepts and characteristics

B Describe the principles and process of basic bookkeeping
C Prepare journal entries and general ledger accounts
D Record transactions and events
E Perform reconciliations
F Prepare a trial balance (including identifying and correcting errors)
G Process year-end adjustments and prepare financial statements
H Account for partnerships.

Relational diagram of main capabilities:

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 Maintaining Financial Records (FA2)

11. The syllabus 2. Trade payables account reconciliation

A Accounting principles, concepts and F Preparing a trial balance and

characteristics correcting errors

1. The key principles, concepts and 1. Preparing a trial balance

characteristics of accounting
2. Correction of errors
2. Maintaining financial records
G Preparing financial statements
3. The regulatory framework
1. Preparation of the financial statements,
B The principles and process of basic including incomplete records
bookkeeping
H Partnerships
1. The elements of financial statements
1. Partnership agreement
2. Recording financial data and the flow of
accounting information in the production 2. Partnership accounting records
of financial statements
3. Partnership financial statements and
C The preparation of journals and change in partnership
general ledger accounts

1. Preparation of journal entries

2. Preparation of general ledger accounts

D Recording transactions and events

1. Sales and purchases

2. Cash and bank

3. Inventories

4. Tangible non-current assets and

depreciation

5. Accrued expenses (accruals), prepaid

expenses (prepayments), accrued
income and deferred income

6. Receivables, payables and provisions

7. Capital and finance costs

E Reconciliations

1. Bank reconciliation

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 Maintaining Financial Records (FA2)

B The principles and process

12. Detailed study guide of basic bookkeeping

A Accounting principles, 1. The elements of financial statements

concepts and characteristics
a) Explain the meaning of the accounting
1. The key principles, concepts and equation and demonstrate its impact on
characteristics of accounting the double entry bookkeeping system.[K]

a) Explain key principles and concepts of b) Describe the meaning of income,

accounting:[K] expenses, assets, liabilities and capital
i) Going concern in an accounting context.[K]
ii) Accrual basis
iii) Materiality c) Describe the components of financial
iv) Consistency statements for a sole trader.[K]
v) Prudence
vi) Duality (dual aspect) 2. Recording financial data and the flow
vii) Business entity of accounting information in the
viii) Historical cost production of financial statements

b) Explain the qualitative characteristics of a) Explain how financial data is initially

useful financial information:[K] recorded in the accounting system.[K]
i) Relevance
ii) Faithful representation b) Identify reasons for closing off general
iii) Comparability ledger accounts and producing a trial
iv) Verifiability balance.[K]
v) Timeliness
vi) Understandability c) Explain the process of preparing a set of
financial statements from a trial
2. Maintaining financial records balance.[K]

a) Explain the importance of maintaining

financial records for internal and C The preparation of journal
external use.[K] entries and general ledger
accounts
b) Describe the type of accounting records
that a business should maintain and the 1. Preparation of journal entries
main uses of these records.[K]
a) Prepare journal entries to record
c) Describe the key features of a transactions in an appropriate format.[S]
computerised accounting system,
including the use of external servers to 2. Preparation of general ledger
store data (the cloud).[K] accounts

3. The regulatory framework a) Explain the purpose and use of general

ledger accounts.[K]
a) Describe the main requirements of
IFRS® Accounting Standards in relation b) Post journal entries into the appropriate
to syllabus area D.[K] general ledger account.[S]

c) Illustrate the year end procedures on the

general ledger accounts, bringing

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 Maintaining Financial Records (FA2)

forward and carrying forward balances j) Illustrate the main components of a

as appropriate.[S] sales tax return.[S]
k) Calculate the cash flow impact on the
business of the payment of sales tax
D Recording transactions and and the potential impact on the business
events of any changes in legislation for sales
tax.[S]
1. Sales and purchases
2. Cash and bank
a) Record sales and purchase
transactions.[S] a) Record cash and bank transactions in
general ledger accounts.[S]
b) Record sales and purchase returns.[S]
b) Report cash and bank balances in the
c) Account for discounts received. [S]
financial statements.[S]

d) Account for the following discounts 3. Inventories

allowed to customers in accordance with
IFRS 15 Revenue from Contracts with a) Describe the need for adjustments for
Customers:[S] inventories when preparing financial
(i) trade discounts statements.[K]
(ii) settlement discounts.
b) Record opening and closing
e) Identify sources of information on sales inventories.[S]
tax and explain the relationship between
the entity and the relevant government c) Identify and apply the alternative
agency.[K] methods of valuing inventories.[K]

f) Explain the general principles of the d) Explain and apply the requirements of
operation of a sales tax including:[K] IAS 2 Inventories for valuing
(i) requirements for registration inventories.[S]
(ii) main information to be included on
business documentation e) Identify which costs should be included
(iii) types of taxable supplies and their when valuing inventories.[K]
classification for sales tax
(iv) accounting for and payment of sales f) Explain the use of continuous and
tax period end inventory records.[K]
(v) penalties for late returns or late
payment of sales tax. g) Calculate the value of closing
inventories using FIFO (first in, first out)
g) Explain the different methods of and AVCO (average cost) - both
accounting for and reporting of sales periodic weighted average and
tax.[K] continuous weighted average.[S]

h) Identify and obtain sales tax data from h) Identify the impact of inventory valuation
the accounting system.[S] methods on profit, assets and capital,
including:[S]
i) Calculate sales tax on inputs (i) periodic weighted average
(purchases) and outputs (sales), enter (ii) continuous weighted average
the appropriate information into the (iii) FIFO
accounting system and calculate the
sales tax due to/from the business.[S] i) Report inventories in the financial
statements.[S]

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 Maintaining Financial Records (FA2)

(ii) Part exchange and cash non-current

4. Tangible non-current assets and asset purchases
depreciation (iii) Depreciation

a) Define non-current assets.[K] n) Identify and resolve any discrepancies

b) Explain the difference between current relating to the accounting records for
and non-current assets.[K] non-current assets.[S]
o) Report non-current assets and
c) Explain the difference between asset depreciation in the financial
and expense items.[K] statements.[S]

d) Classify expenditure as asset 5. Accrued expenses (accruals),

expenditure or expenses charged to prepaid expenses (prepayments),
profit or loss.[S] accrued income and deferred income

e) Explain the impact of misclassification of a) Apply the accrual basis of accounting to

asset expenditure as expenses and vice accruals, prepayments, accrued income
versa on the statement of profit or loss and deferred income.[S]
and the statement of financial position.[K]
b) Calculate the adjustments needed for
f) Prepare journal entries to record the accruals, prepayments, accrued income
acquisition and disposal of non-current and deferred income when preparing
assets (including part exchange) in financial statements.[S]
accordance with IAS 16 Property, Plant
and Equipment.[S] c) Illustrate the process of adjusting for
accruals, prepayments, accrued income
g) Calculate and record gains or losses on and deferred income when preparing
disposal of non-current assets in the financial statements.[S]
statement of profit or loss, including part
exchange transactions and scrapping of d) Prepare journal entries and update the
assets.[S] general ledger accounts for the creation
and reversal of accruals, prepayments,
h) Explain the purpose of depreciation.[K] accrued income and deferred income .[S]

i) Calculate the charge for depreciation e) Identify the impact of accruals,

using straight line and diminishing prepayments, accrued income and
(reducing) balance methods.[S] deferred income on profit, net assets
and capital.[K]
j) Identify the circumstances where
different methods of calculating f) Report accruals, prepayments, accrued
depreciation would be appropriate.[K] income and deferred income in the
financial statements.[S]
k) Illustrate how the depreciation expense
and accumulated depreciation are 6. Receivables, payables and
recorded in general ledger accounts.[S] provisions

l) Explain the purpose and function of a a) Explain and identify examples of

non-current asset register.[K] receivables and payables.[K]

m) Prepare the non-current asset register b) Prepare journal entries to write off an
for all or part of the following:[S] irrecoverable debt.[S]
(i) Acquisition, including authorisation

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 Maintaining Financial Records (FA2)

c) Record an irrecoverable debt later E Reconciliations

recovered.[S]
1. Bank reconciliation
d) Identify the impact of irrecoverable
debts on the statement of profit or loss a) Explain the purpose of reconciling the
and on the statement of financial bank general ledger account to the
position.[S] corresponding bank statement or
internet banking records.[K]
e) Calculate the movement in the
allowance for receivables and the b) Prepare the reconciliation of the bank
closing balance.[S] general ledger account to the bank
statement or internet banking records.[S]
f) Prepare journal entries to create and
adjust an allowance for receivables.[S] c) Identify errors and omissions in the
bank general ledger account and the
g) Illustrate how to include movements in bank statement or internet banking
the allowance for receivables in the records.[K]
statement of profit or loss and how the
closing balance of the allowance should d) Identify timing differences in a bank
be reported in the statement of financial reconciliation.[K]
position.[S]
e) Make correcting entries in the bank
h) Account for contras between trade general ledger account.[S]
receivables and trade payables.[S]
f) Identify the bank balance to be reported
i) Explain the nature of provisions and in the financial statements.[K]
liabilities in accordance with IAS 37
Provisions, Contingent Liabilities and 2. Trade payables account
Contingent Assets.[K] reconciliations

j) Distinguish between a provision and a a) Explain the purpose of reconciling the

liability.[S] trade payables general ledger account
to external documents.[K]
k) Account for provisions and liabilities.[S]
b) Prepare a reconciliation of the trade
l) Report provisions and liabilities in the payables general ledger account to
financial statements.[S] supplier statements.[S]

7. Capital and finance costs c) Identify errors and omissions in the

trade payables general ledger account
a) Distinguish between capital injected by and supplier statements.[S]
the business owner(s) and amounts
received from third parties for an d) Make correcting entries in the trade
unincorporated business (sole payables general ledger account.[S]
trade/partnership).[K]
e) Identify the trade payables balance to
b) Demonstrate the impact of changes in be reported in the financial
capital on the financial statements.[K] statements.[S]

c) Prepare the capital general ledger

account for an unincorporated
business.[S]

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 Maintaining Financial Records (FA2)

F Preparing a trial balance and c) Describe the action required to correct

correcting errors errors including clearing any suspense
accounts.[K]
1. Preparing a trial balance
d) Prepare correcting journal entries and
a) Explain the purpose of the trial update the general ledger accounts and
balance.[K] trial balance for any corrections made.[S]

b) Distinguish between errors which will be e) Explain how the financial statements are
detected by extracting a trial balance affected by the correction of errors.[S]
and those which will not.[S]

c) Calculate and explain the impact of G Preparing financial

errors on the statement of profit or loss statements
and the statement of financial position.[S]
1. Preparation of the financial
d) Identify the limitations of the trial statements, including incomplete
balance.[K] records

e) Prepare the initial trial balance.[S] a) Explain the process of preparing a set of
f) Explain the process of finalising the trial financial statements from a trial
balance.[K] balance.[K]

g) Explain and record year-end b) Explain the format and purpose of the
adjustments on the trial balance, statement of profit or loss and the
including:[S] statement of financial position for a sole
(i) Inventories trader.[K]
(ii) Non-current asset transactions
(iii) Depreciation c) Prepare the financial statements for a
(iv) Accruals, prepayments, accrued sole trader from a trial balance.[S]
income and deferred income
(v) Allowance for receivables d) Describe the circumstances which lead
(vi) Irrecoverable debts to incomplete records.[K]
(vii) Provisions
e) Describe the methods of constructing
h) Prepare a final trial balance including accounts from incomplete records.[K]
calculating the final reported profit or
loss.[S] f) Prepare the financial statements or
elements thereof using incomplete
i) Prepare the opening trial balance for the record techniques such as:[S]
next accounting period.[S] (i) Mark ups and margins
(ii) General ledger accounts to derive
missing figures
2. Correction of errors (iii) Manipulation of the accounting
equation
a) Explain the purpose of, and reasons for,
creating a suspense account.[K]
H Partnerships
b) Identify different types of bookkeeping
errors including those that result in 1. Partnership agreement
suspense accounts.[K]
a) Define a partnership.[K]

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 Maintaining Financial Records (FA2)

b) Explain the purpose and content of a

partnership agreement.[K]

c) Explain, calculate and account for

appropriations of profit:[S]
(i) Salaries of partners
(ii) Interest on drawings
(iii) Interest on capital
(iv) Share of residual profit or loss

2. Partnership accounting records

a) Explain the difference between partners’

capital and current accounts.[K]

b) Prepare the partners’ capital and current

accounts.[S]

3. Partnership financial statements and

change in partnership

a) Prepare the financial statements for a

partnership.[S]

b) Explain and account for the admission

of a new partner including the treatment
of any goodwill arising.[S]

Note: Candidates will not be expected to

calculate the value of goodwill

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 Maintaining Financial Records (FA2)

13. Summary of changes to Maintaining Financial Records

(FA2)

ACCA periodically reviews its qualification syllabuses so that they fully meet the needs of
stakeholders including employers, students, regulatory and advisory bodies and learning
providers. Due to the significant changes made to the 2023/24 study guide from the 2022/23
study guide, the following detailed mapping guide has been prepared.

Detailed mapping for FA2 from September 2022/23 to September 2023/24

Key
The 2022/23 learning outcome has not been remapped for 2023/24,
although changes may have been made to the wording
The learning outcome is new for 2023/24
The 2022/23 learning outcome has been remapped for 2023/24 and
changes may or may not have been made to the wording
The 2022/23 learning outcome has been removed from the 2023/24
syllabus

2022/23 Learning 2023/24 Learning Summary of changes

Outcome Outcome
A A Changed 'Generally accepted accounting principles
and concepts' to 'Accounting principles, concepts
and characteristics'
A1 A1 Added ', concepts'
A1(a) A1(a) Changed 'the principles' to 'key principles'; added
'and concepts'; re-ordered parts of the sub-learning
outcome; changed 'Accruals' to 'Accrual basis');
changed 'Double entry' to 'Duality (dual aspect)';
changed 'Business entity concept' to 'Business entity'
A1(b) A1(b) Changed 'accounting characteristics relating to' to
'characteristics of useful financial information'
A2 A2 No changes
A2(a) A2(a) No changes
A2(b) A2(b) Changed 'of each' to 'of these records'
NEW FOR 2023/24 A2(c) New for 2023/24
A3 A3 No changes
A3(a) A3(a) Changed 'accounting standards' to 'IFRS®
Accounting Standards)'
B B No changes
B1 B1 No changes
B1(a) B1(a) Added 'and demonstrate its impact on the double
entry bookkeeping system'
B1(b) B1(b) Added 'income, expenses'
B1(c) B1(c) No changes
B2 B2 Changed 'Books of prime entry' to 'Recording
financial data'
B2(a) REMOVED Removed

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 Maintaining Financial Records (FA2)

NEW FOR 2023/24 B2(a) New for 2023/24

B2(b) B2(b) Added 'general ledger'
B2(c) B2(c) Changed 'final accounts' to 'financial statements'
C C Changed 'journals' to 'journal entries'; added
'general'
C1 C1 Changed 'journals from the books of prime entry' to
'journal entries'
C1(a) A1(a) Remapped - included as part of A1(a)(vi) in S23
C1(b) C1(a) Remapped - changed 'journals' to 'journal entries'
C2 C2 Added 'general'
C2(a) C2(a) Added 'general'
C2(b) C2(b) Changed 'journals and other entries' to 'journal
entries'; added 'general'
C2(c) C2(c) Changed 'Balance the ledger accounts carrying
down and bringing forward' to 'Illustrate the year end
procedures on the general ledger accounts, bringing
forward and carrying forward'
D D No changes
D1 D1 No changes
D1(a) D1(a) Changed 'sale and purchases' to 'sales and
purchase'; deleted 'in ledger accounts'
D1(b) D1(b) No changes
D1(c) REMOVED Removed
NEW FOR 2023/24 D1(c) New for 2023/24
NEW FOR 2023/24 D1(d) New for 2023/24
D1(d) D1(e) Remapped - no changes to wording
D1(e) D1(f) Remapped - no changes to wording
D1(f) D1(g) Remapped - no changes to wording
D1(g) D1(h) Remapped - no changes to wording
D1(h) D1(i) Remapped - combined with D1(i) in the S23
syllabus; added '(purchases)' and '(sales)'
D1(i) D1(i) Combined with D1(h) from the S22 syllabus;
changed 'Record the consequent accounting entries'
to 'enter the appropriate information into the
accounting system'
D1(j) REMOVED Removed
NEW FOR 2023/24 D1(j) New for 2023/24
D1(k) REMOVED Removed
D1(l) D1(k) Remapped - no changes to wording
D2 D2 No changes
D2(a) D2(a) Added 'general'
D2(b) D2(b) Changed 'final accounts' to 'financial statements'
D3 D3 Changed 'inventory' to 'inventories'
D3(a) D3(a) Changed 'Recognised' to 'Describe'
D3(b) D3(b) Changed 'inventory' to 'inventories'
D3(c) D3(c) Changed 'inventory' to 'inventories'
D3(d) D3(d) Changed 'the IASB requirements' to 'the
requirements of IAS 2 Inventories'

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 Maintaining Financial Records (FA2)

D3(e) D3(e) Changed 'Recognise' to 'Identify'

D3(f) D3(f) No changes
D3(g) D3(g) Changed 'inventory' to 'inventories'
D3(h) D3(h) No changes
D3(i) D3(i) Changed 'inventory' to 'inventories'
D4 D4 No changes
D4(a) D4(a) No changes
D4(b) D4(b) Changed 'Recognise' to 'Explain'
D4(c) D4(c) No changes
D4(d) D4(d) No changes
D4(e) D4(e) No changes
D4(f) D4(f) Changed 'journal and ledger entries' to 'journal
entries'; added 'in accordance with IAS 16 Property,
Plant and Equipment'
D4(g) D4(g) Changed 'profits' to 'gains'
D4(h) D4(h) No changes
D4(i) D4(i) Changed 'reducing balance' to 'diminishing
(reducing) balance'
D4(j) D4(j) No changes
D4(k) D4(k) Added 'general'
D4(l) D4(l) Changed ‘an asset’ to ‘a non-current asset’
D4(m) D4(m) Deleted 'accounting'
D4(n) D4(n) No changes
D4(o) D4(o) Changed 'final accounts' to 'financial statements'
D5 D5 Changed 'Accruals and prepayments' to 'Accrued
expenses (accruals), prepaid expenses
(prepayments), accrued income and deferred
income'
D5(a) D5(a) Changed 'matching concept' to 'accrual basis of
accounting'; added 'accrued income and deferred
income'
D5(b) D5(b) Deleted 'Identify and'; added 'accrued income and
deferred income'
D5(c) D5(c) Added 'accrued income and deferred income'
D5(d) D5(d) Changed 'the journal entries and ledger entries' to
'journal entries and update the general ledger
accounts'; added 'and reversal'; added 'accrued
income and deferred income'
D5(e) D5(e) Changed 'on profit, net assets and capital of accruals
and prepayments' to 'of accruals, prepayments,
accrued income and deferred income on profit, net
assets and capital'
D5(f) D5(f) Added 'accrued income and deferred income';
changed 'final accounts' to 'financial statements'
D6 D6 No changes
D6(a) D6(a) No changes
D6(b) D6(b) Changed 'the bookkeeping entries' to 'journal entries'
D6(c) D6(c) Added 'later'
D6(d) D6(d) No changes

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 Maintaining Financial Records (FA2)

D6(e) D6(e) No changes

D6(f) D6(f) Changed 'the bookkeeping entries' to 'journal entries'
D6(g) D6(g) No changes
D6(h) D6(h) Added 'trade'
D6(i) D6(i) Added 'in accordance with IAS 37 Provisions,
Contingent Liabilities and Contingent Assets'
D6(j) D6(j) No changes
D6(k) D6(k) No changes
D6(l) D6(l) Changed 'final accounts' to 'financial statements'
D7 D7 No changes
D7(a) D7(a) Added 'amounts received from'; added '(sole
trade/partnership)'
D7(b) REMOVED Removed
NEW FOR 2023/24 D7(b) New for 2023/24
D7(c) D7(c) Added 'general'
E F Remapped - no changes to wording
E1 F1 Remapped - changed 'Trial balance' to 'Preparing a
trial balance'
E1(a) F1(a) Remapped - no changes to wording
E1(b) F1(b) Remapped - no changes to wording
E1(c) F1(c) Remapped - no changes to wording
E1(d) F1(d) Remapped - no changes to wording
E1(e) F1(e) Remapped - no changes to wording
NEW FOR 2023/24 F1(f) New for 2023/24
NEW FOR 2023/24 F1(h) New for 2023/24
E2 F2 Remapped - no changes to wording
E2(a) F2(a) Remapped - no changes to wording
E2(b) F2(b) Remapped - no changes to wording
E2(c) F2(c) Remapped - changed 'Identify and explain' to
'Describe'
E2(d) F2(d) Remapped - combined with E2(e) from the S22
syllabus by adding 'and update the general ledger
accounts and trial balance for any corrections made'
E2(e) F2(d) Remapped - combined with F2(d) in the S23
syllabus
E2(f) F2(e) Remapped - changed 'Demonstrate' to 'Explain;
changed 'final accounts' to 'financial statements'
F E Remapped - no changes to wording
F1 REMOVED Removed
F1(a) REMOVED Removed
F1(b) REMOVED Removed
F1(c) REMOVED Removed
F1(d) REMOVED Removed
F1(e) REMOVED Removed
F1(f) REMOVED Removed
F2 E1 Remapped - no changes to wording

17 © ACCA 2023-2024 All rights reserved

 Maintaining Financial Records (FA2)

F2(a) E1(a) Remapped - added 'general'; added 'or internet

banking record'
F2(b) E1(c) Remapped - added 'general'; added 'the'; added 'or
internet banking records'
F2(c) E1(d) Remapped - added 'in a bank reconciliation'
F2(d) E1(e) Remapped - deleted 'the'; added 'general'
F2(e) E1(b) Remapped - changed 'reconciliation between the
bank statement balance and the corrected bank
ledger account' to 'reconciliation of the bank general
ledger account to the bank statement or internet
banking records'
F2(f) E1(f) Remapped - changed 'final accounts' to 'financial
statements'
NEW FOR 2023/24 E2 New for 2023/24
NEW FOR 2023/24 E2(a) New for 2023/24
NEW FOR 2023/24 E2(b) New for 2023/24
NEW FOR 2023/24 E2(c) New for 2023/24
NEW FOR 2023/24 E2(d) New for 2023/24
NEW FOR 2023/24 E2(e) New for 2023/24
G G Changed 'Extending the trial balance' to 'Preparing
financial statements'
G1 REMOVED Removed
G1(a) REMOVED Removed
G1(b) REMOVED Removed
G1(c) F1(g) Remapped - changed 'post trial balance' to 'year-
end'; deleted 'extended'; added 'including'; changed
the order of the sub-learning outcomes; added
'accrued income and deferred income'; changed
'Closing inventory' to 'Inventories'
G1(d) REMOVED Removed
G1(e) F1(i) Remapped - no changes to wording
G2 G1 Remapped - changed 'final accounts' to 'financial
statements'
G2(a) G1(a) Remapped - changed 'final accounts' to 'financial
statements'
G2(b) G1(b) Remapped - added 'the'
G2(c)(i) REMOVED Removed
G2(c)(ii) REMOVED Removed
G2(c)(iii) G1(c) Remapped - moved the sub-learning outcome from
S22 G2(c)(iii) to its own learning outcome of G1(c) in
S23; changed 'final accounts' to 'financial
statements'
G2(d) G1(d) Remapped - no changes to wording
G2(e) G1(e) Remapped - no changes to wording
G2(f) G1(f) Remapped - changed 'final accounts' to 'financial
statements'; added 'General'
H H No changes
H1 H1 No changes
H1(a) H1(a) No changes

18 © ACCA 2023-2024 All rights reserved

 Maintaining Financial Records (FA2)

H1(b) H1(b) No changes

H1(c) H1(c) Added 'or loss'; deleted '(the amount of profit
available to be shared between the partners in the
profit or loss sharing ratio, after all other
appropriations have been made)'
H2 H2 No changes
H2(a) H2(a) No changes
H2(b) H2(b) No changes
H3 H3 No changes
H3(a) H3(a) Changed 'final accounts' to 'financial statements'
H3(b) H3(b) No changes

19 © ACCA 2023-2024 All rights reserved