ICAEW ACA Accounting (ICAEW) study guide
ICAEW ACA Accounting · Work through your exam, one topic at a time.
The ICAEW ACA is the Institute of Chartered Accountants in England and Wales' chartered accountancy qualification, and Accounting is one of its Certificate Level modules. This page is an independent study resource for candidates preparing for that module; it is not affiliated with, endorsed by, or operated by ICAEW. The ICAEW ACA Accounting study guide has 5 sections and about 1,894 words.
01Recording financial transactions and double-entry bookkeeping
This domain tests whether you can record transactions using the dual-effect convention, use the books of prime entry and ledgers, and prove the records with a trial balance. Questions often require journal entries, ledger postings or correction of an imbalance.
396 words, about 2 min02Preparation of financial statements (sole traders, partnerships, companies)
This domain tests preparation of the statement of profit or loss (SPL) and statement of financial position (SFP) for sole traders, partnerships and companies, including capital and equity movements. You must distinguish expenses from drawings and dividends and apply the correct ownership structure.
398 words, about 2 min03Adjustments and accounting principles (accruals, prepayments, depreciation, irrecoverable debts)
This domain tests year-end adjustments under the accruals basis: accruals, prepayments, depreciation, disposals, irrecoverable debts and allowances for receivables. You must adjust the SPL and SFP and understand the matching principle.
377 words, about 2 min04Preparation and interpretation of statements of cash flows
This domain tests preparation of a statement of cash flows under IAS 7 using the indirect method, and interpretation of cash generation. You must classify operating, investing and financing activities and adjust profit for non-cash and working-capital movements.
373 words, about 2 min05Interpretation of financial statements and ethical considerations
This domain tests ratio analysis and the ethical framework applied to accounting decisions. You must calculate and interpret profitability, liquidity, efficiency and gearing ratios, and identify ethical threats and safeguards.
350 words, about 2 min