Part 1-
Key Topics: Calculating net profit, petty cash imprest system, characteristics of limited liability companies, purchase calculations, trade payables, and adjustments to profit and current assets.

Concepts Covered:

• Analyzing working capital and liquidity ratios.
• Adjusting errors in profit and financial statements.
• Rent and inventory adjustments for accrual-based accounting.

Description: This video focuses on Questions 1–10 of the FA specimen exam, covering essential accounting concepts and practices. You will learn about adjusting trade payables, calculating purchases using receivables and supplier data, and making accurate profit adjustments for errors. By analyzing financial transactions step-by-step, this session builds a solid foundation for understanding core accounting principles.

Part 2-
Key Topics: Business structures, financial ratios, intangible assets, revaluations, and depreciation adjustments.

Concepts Covered:

• Comparing sole traders and limited liability companies.
• Interpreting financial ratios and revaluation gains under IAS 16.
• Adjusting prepayments, accruals, and calculating gross profit using incomplete records.

Description: This video continues with Questions 11–20, diving deeper into topics like capitalized development costs, operating expense adjustments, and gross profit calculations. Through detailed examples and breakdowns, this part enhances your understanding of advanced accounting treatments and their application in financial reporting.

Part 3-
Key Topics: Equity transactions, changes in equity, depreciation, financial performance metrics, and inventory valuation.

Concepts Covered:

• Calculating rights and bonus issues for equity.
• Evaluating depreciation for partial-year acquisitions and disposals.
• Applying IAS 2 for inventory valuation using FIFO.

Description: In this final video, Questions 21–35 are explored, focusing on advanced financial topics. Learn to calculate return on capital employed (ROCE), address contingent liabilities under IAS 37, and reconcile bank balances accurately. This session ties together complex accounting concepts to prepare you for exam success.