Finance & securities

ACCA Financial Accounting (FA): 320 Practice Questions

Prepare for FA/F3 and FFA with six practice tests, worked explanations, accounts preparation and basic consolidation

Finance & SecuritiesAmerican English6 practice tests

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ACCA Financial Accounting (FA): 320 Practice Questions

Overview

What you’ll practice

Questions and explanations: American English

Exam referenceFinance & securities
Course version published
Review official exam information

Check the provider’s current objectives before booking your exam. This is independent practice material.

  • Apply reporting principles, source-document controls and double-entry bookkeeping to practical transactions.
  • Calculate inventory, depreciation, amortisation, accruals, receivables and provision adjustments.
  • Reconcile bank and supplier balances and correct trial-balance and suspense-account errors.
  • Prepare financial statement and cash-flow extracts using the current FA reporting framework.
  • Calculate basic goodwill, group balances, unrealised profit and mid-year consolidation adjustments.
  • Interpret accounting ratios and explain why profit, liquidity and cash can point in different directions.

More about this course

This course contains the use of artificial intelligence.

Build your financial accounting judgement with 320 original English practice questions across six tests. The course follows the ACCA Financial Accounting (FA, formerly F3) and shared FFA syllabus for September 2026 to June 2027. It focuses on foundational financial accounting rather than the separate Financial Reporting (FR) exam.

Practise the full accounting process

Work from source documents and double-entry records through adjustments, reconciliations and financial statements. Questions cover reporting concepts and users, accounting systems, sales tax and discounts, inventory methods, tangible and intangible assets, accruals and prepayments, receivables, provisions, company finance, trial balances and error correction.

Then connect the numbers: prepare statement extracts, distinguish adjusting events, construct direct and indirect cash-flow information, complete basic group-accounting calculations and interpret profitability, liquidity, efficiency and financial position. The applicable FA treatment of IFRS 18 and updated IAS 7 is used, including operating profit as the indirect-method starting point for the ordinary trading businesses described.

Six tests with a clear progression

  • Test 1: foundations, reporting and bookkeeping — 55 questions.
  • Test 2: transactions, assets and adjustments — 65 questions.
  • Test 3: reconciliations, errors and equity — 50 questions.
  • Test 4: statements, groups and ratio analysis — 50 questions.
  • Test 5: adapted timed practice — 35 independent questions plus two shared cases with eight and seven tasks, 120 minutes.
  • Test 6: adapted timed practice — the same 50-item format, with different conditions and cash-flow and mid-year group cases, 120 minutes.

Every answer option has feedback. Overall explanations show the relevant reasoning or calculation, and a short study tip helps you decide what to revisit. The cases connect several adjustments within one business, so you can practise how individual entries affect profit, assets, cash and equity together.

Understand the practice format

The official two-hour exam has 35 two-mark objective-test questions and two 15-mark multi-task questions, with a 50/100 pass mark. These Udemy tests use single- and multiple-response choices, including numerical answers presented as choices. Shared cases are split into separate, equally weighted Udemy questions. They do not reproduce the official CBE interface, task interactions or scoring weights. The course's 70% threshold is a practice benchmark, not an official pass prediction or a conversion to an ACCA mark.

Use the first four tests to identify gaps, review the explanations and revisit your study materials before attempting the two timed tests. This is a question-based supplement, not a complete taught syllabus or the official exam practice platform. It provides no professional qualification, guaranteed result or official endorsement. ACCA is the relevant examination body's name; this independently prepared course is not affiliated with or approved by ACCA.

Practice sets

6 practice tests. 320 questions.

01

Foundations, Reporting and Bookkeeping

55 questions90 minutes

02

Transactions, Assets and Adjustments

65 questions105 minutes

03

Reconciliations, Errors and Equity

50 questions90 minutes

04

Statements, Groups and Ratio Analysis

50 questions90 minutes

05

Timed Practice 1: Accounts and Full-Year Group

50 questions120 minutes

06

Timed Practice 2: Cash Flows and Mid-Year Group

50 questions120 minutes

FREE COURSE PREVIEW

Try it. Then understand it.

Three original single-answer questions from this course. Your answers stay in this page and are cleared when you leave.

Choose one answer1 of 3

A sole trader invests $9,000 of personal savings in the business bank account. What is the effect in the business records?

Before you begin

  • Basic arithmetic, percentages and willingness to work through debit and credit entries.
  • Access to your FA/FFA syllabus and study materials; this practice course supplements study rather than replacing it.
  • A calculator and paper or a spreadsheet for workings; no specialist software purchase is required.
  • Ability to read accounting questions and explanations in English.

Who this is for

  • Students preparing for ACCA Financial Accounting (FA/F3) or FFA in the September 2026 to June 2027 syllabus period.
  • Learners who have studied the foundations and want structured question practice with explanations.
  • Students who want to connect individual accounting adjustments with statements, cash flows and basic groups.

Questions

Before you take the next step.

Where do I buy and take the course?

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Is the course included with a Udemy subscription?

Inclusion can vary by course, plan and location. Check the current course page and your Udemy plan before purchasing.

Does this include the official certification exam?

No. This is independent preparation material. Certification registration, exam fees and credentials are managed by the exam provider.

Can I switch the course language?

Check the course language label. Available language editions are listed on each course page and have separate Udemy links. The website language switch changes navigation, not course content.

Finance & securities320 questions
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