ACCA - Financial Reporting (FR)
Exam Practice Pack
Click to practice section based questions
- Conceptual Framework
- Regulatory framework
- Accounting for inflation
- Case question
Accounting for transactions in financial statements
- Accounting for transactions in financial statements (I)
- Accounting for transactions in financial statements (II)
- Accounting for transactions in financial statements (III)
Analyzing and interpreting the financial statements of single entities and groups
- Calculating and interpretation of accounting ratios and trends
- Limitations of financial statements and interpretation techniques
- Specialised, not-for-profit and public sector entities
- Case question
Preparation of financial statements
- Consolidated statements of financial positions
- Consolidated statements of profit or loss
- Accounting for associates
- Presentation of financial statements
- Statement of cash flows
- Case question
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Introduction to Financial Reporting (FR)
Purpose of the syllabus
The aim of the syllabus is to develop knowledge and skills in understanding and applying IFRS Standards and the theoretical framework in the preparation of financial statements of entities, including groups and how to analyse and interpret those financial statements. The financial reporting syllabus assumes knowledge acquired in Financial Accounting (FA), and develops and applies this further and in greater depth.
The syllabus
The broad syllabus headings are;
A | The conceptual and regulatory framework for financial reporting
|
B | Accounting for transactions in financial statements
|
C | Analyzing and interpreting the financial statements of single entities and groups |
D | Preparation of financial statements |
The Exam
The syllabus is assessed by a three-hour computer-based examination.
The examination consists of:
| Number of marks |
Section A – Fifteen 2-mark objective test questions
| 30 |
Section B – Three Questions (5 OTQs each) 2- mark | 20 |
Section C – Two 20-mark constructed response questions
| 30 |
Time allowed
| 3 hours |
Total Marks
| 100 |
