ACCA FA Formula Sheet
The key formulas for ACCA FA (Financial Accounting) on a single A4 page, free to download and print. Built to the paper's current examinable scope.
FA Formula Sheet · PDF · 1 page · A4 · print-ready
Download the FA formula sheetThe formulas on the FA sheet
The full sheet, reproduced as text so you can revise on screen. Last checked September 2026. Spotted an error? Report it and it will be corrected.
Accounting Equation & Double Entry
- Assets = Liabilities + Equity
- Debit increases: Assets · Expenses · Drawings
- Credit increases: Liabilities · Equity · Income
Depreciation
- Straight-line = (Cost − Residual value) ÷ Useful life
- Reducing balance = Carrying amount × Rate %
- Carrying amount = Cost − Accumulated depreciation
Inventory (IAS 2)
- Value at: lower of cost and net realisable value
- NRV = Selling price − Costs to complete − Selling costs
- Cost of sales = Opening inventory + Purchases − Closing inventory
Accruals & Prepayments
- Accrual: Dr Expense Cr Accruals (expense incurred, not yet paid)
- Prepayment: Dr Prepayment Cr Expense (paid in advance)
- Accrued income: Dr Accrued income Cr Income
- Deferred income: Dr Income Cr Deferred income
Receivables & Irrecoverable Debts
- Write off: Dr Irrecoverable debt expense Cr Receivables
- Allowance increase: Dr Irrecoverable debt expense Cr Allowance
- Allowance decrease: Dr Allowance Cr Irrecoverable debt expense
Bank Reconciliation
- Balance per bank statement
- + Deposits in transit (receipts not yet on bank statement)
- − Outstanding cheques (payments not yet on bank statement)
- ± Bank errors = Corrected bank balance
- Must equal the corrected cash book balance
Trial Balance — Errors
- Affect the TB: single-sided entry, unequal amounts
- Do NOT affect: omission, reversal, compensating, wrong account, principle
- Require journal correction — may need a suspense account
Statement of Cash Flows — Indirect
- Profit before tax + Depreciation + Impairment − Profit on disposal
- ± Working capital: ↑Inventory − · ↑Receivables − · ↑Payables +
- Investing: asset purchases/disposals · Financing: debt/equity/dividends
IFRS 18 — Statement Structure
- SFP: NCA | CA | Equity | NCL | CL
- P&L categories: Operating | Investing | Financing | Discontinued | Tax
- Finance costs below operating profit, in the Financing category
Consolidation — Basic
- Goodwill = Consideration + NCI at acquisition − FV net assets acquired
- NCI (proportionate) = FV of net assets at acquisition × NCI %
- Group RE = Parent RE + Parent % × sub post-acquisition RE
- Eliminate: intragroup sales, balances, unrealised profit on inventory
Events After the Reporting Period
- Adjusting: conditions existing at the reporting date
- Non-adjusting: conditions arising after the reporting date
- Disclose non-adjusting events if material — do not adjust figures
Interpretation — Key Ratios
- ROCE = PBIT ÷ Capital employed × 100
- Gross margin = Gross profit ÷ Revenue × 100
- Net margin = PBIT ÷ Revenue × 100
- Asset turnover = Revenue ÷ Capital employed
- ROCE = Profit margin × Asset turnover
- Current ratio = Current assets ÷ Current liabilities
- Quick ratio = (Current assets − Inventory) ÷ Current liabilities
- Gearing = Debt ÷ (Debt + Equity) × 100
- Interest cover = PBIT ÷ Finance costs
- Receivable days = Receivables ÷ Revenue × 365
- Payable days = Payables ÷ Cost of sales × 365
- Inventory days = Inventory ÷ Cost of sales × 365
Incomplete Records
- Opening capital = Assets − Liabilities
- Profit = Closing capital − Opening capital + Drawings − Capital introduced
- Missing figure: use the accounting equation to find the unknown
How to use it
A formula sheet is a revision aid, not a substitute for practice. Reading formulas builds recognition; applying them under time pressure builds recall, and it's recall the exam tests. The most effective way to use this sheet is alongside questions: attempt a question first, then check the sheet only when you're stuck, rather than working with it open in front of you.
Print it and keep it beside you while you work through FA questions. Once you stop reaching for it, you know the formulas are in place.
Test yourself on FA with 150 free practice questions, worked explanations for every answer, and a timed mock exam mode. Start FA practice →
This sheet is an original compilation of standard formulas mapped to ACCA FA's current examinable scope. It is a revision aid only and is not a substitute for the official formulae and rates provided in your exam. Looking for another paper? See all ACCA formula sheets. GoQualified is not affiliated with ACCA.