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PAPER 2: FUNDAMENTALS OF ACCOUNTING (FOA) - FOUNDATION

• This document is a study material for Paper 2 of the Fundamentals of Accounting (FOA) course at the Foundation level.
• The syllabus is divided into two parts:
  • Fundamentals of Financial Accounting (60%)
  • Fundamentals of Cost and Management Accounting (40%)
• The assessment will be a 3-hour written exam.
• The objectives of the course are to gain a comprehensive understanding of financial statements, principles, and procedures of accounting and their application to practical situations.
• Skills required include an understanding of accounting concepts, preparing accounts for various entities, and applying basic Cost & Management Accounting principles.

Syllabus Structure / Objectives

• The learning aims of the syllabus include the following:
  • Understanding the conceptual framework of Accounting
  • Preparing accounts for various entities under different business situations
  • Mastering the basic principles of Cost & Management Accounting that are relevant for managerial decision making

Assessment Strategy

• The assessment will be a written examination of three hours.