AAT Level 3 Diploma in Accounting (Q2022) - Financial Accounting: Preparing Financial Statements (FAPS) Vocabulary Game
Exam terms with clues and explanations by OpenExamPrep.
About the AAT Level 3 Diploma in Accounting (Q2022) - Financial Accounting: Preparing Financial Statements (FAPS) Vocabulary Game
A free word game for the AAT Level 3 Diploma in Accounting (Q2022) - Financial Accounting: Preparing Financial Statements (FAPS) exam. Each round shows a clue for one of 19 exam terms across 9 topics. Recall the term, spell it out, then read a short explanation. Rounds pick a random term, so you can keep playing as long as you like.
How to Play
- 1Read the clue and type a term with the right number of letters (3 to 6). Abbreviations count: type the letters only.
- 2Press Check Answer or Enter. Each letter changes color to show how close you are.
- 3You have 6 tries. Stuck? Need a hint? asks the AI tutor for a nudge without giving the term away, and Skip moves to a new term.
- 4After the round, read the explanation, ask the AI to explain it, share your result, or press Next.
- ARight letter, right spot
- AIn the term, wrong spot
- ANot in the term
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Topics in the AAT Level 3 Diploma in Accounting (Q2022) - Financial Accounting: Preparing Financial Statements (FAPS) Vocabulary Game
Accounting principles
Double-entry bookkeeping
Capital expenditure
Depreciation
Period-end adjustments
Balance extraction
Sole trader statements
Profitability ratios
Incomplete records
Sources for these terms (5)
- AAT Level 3 Diploma in Accounting Qualification Specification, Version 5.13 · Source checked 2026-11-03
- Conceptual Framework for Financial Reporting (March 2018) · Source checked 2026-11-03
- IAS 16 Property, Plant and Equipment (2026 issued) · Source checked 2026-11-03
- IAS 2 Inventories (2026 issued) · Source checked 2026-11-03
- VAT Notice 700: the VAT guide · Source checked 2026-11-03
About the AAT Level 3 FAPS Exam
FAPS is the Financial Accounting: Preparing Financial Statements unit within AAT Level 3. It covers nine learning outcomes: accounting principles, advanced bookkeeping, asset acquisition/disposal, depreciation, adjustments, sole trader extended trial balance, sole trader and partnership statements, profitability ratios, and incomplete records.
Exam sponsor: Association of Accounting Technicians (AAT). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.
Assessment
Question count not published by the exam provider
Time Limit
2 hours 30 minutes
Passing Score
70% unit pass mark
Exam / Certification Fees
£67 AAT assessment fee; venue charges may apply. Remote invigilation adds £41 where offered.
Exam sponsor websiteReported exam pass rate: Current cohort figure not quoted. No current FAPS cohort pass-rate figure is quoted; the unit pass mark is 70%. Exam sponsor website
Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.
Frequently Asked Questions
Is the AAT FAPS vocabulary game free?
Yes. The game is free to play with no sign-up. Signing in adds AI explanations for any term.
How does the AAT FAPS vocabulary game work?
Each round shows a clue for one of 19 AAT FAPS terms. Guess the term in six tries: green means the right letter in the right spot, yellow means the letter is in the term but in another spot, and gray means it is not in the term. After the round, read the explanation and play the next term.
Where do the AAT FAPS terms come from?
OpenExamPrep researched each term from the Association of Accounting Technicians (AAT) content outline and primary sources, listed under Sources on this page. The game is independent study material, not an official exam resource.
What are the FAPS assessment format, time and pass mark?
AAT specifies a computer-based, computer-marked assessment lasting 2 hours 30 minutes, with a 70% pass mark. The qualification specification does not give a fixed total question count; use AAT practice assessments to learn the task interface.
Is FAPS the whole AAT Level 3 Diploma in Accounting?
No. FAPS contributes 40% of the diploma grade. The other mandatory units are Business Awareness (15%), Management Accounting Techniques (30%) and Tax Processes for Businesses (15%). Completing FAPS and TPFB alone does not complete the four-unit diploma.