Financial Reporting (ACCA F7)

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ACCA F7 (FR) Highlights

You’ll develop knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements of entities, including groups and how to analyse and interpret those financial statements.

Exam Duration
3 hours

Passing Marks
50/100
Mode Of Exam
Online
Attempts Mar|Jun|Sep|Dec

ACCA F7 (FR) Syllabus

A. The conceptual and regulatory framework for financial reporting

1. The need for a conceptual framework and the characteristics of useful information
2. Recognition and measurement
3. Regulatory framework
4. The concepts and principles of groups and consolidated financial statements

B. Accounting for transactions in financial statements

1. Tangible non-current assets
2. Intangible assets
3. Impairment of assets
4. Inventory and biological assets
5. Financial instruments
6. Leasing
7. Provisions and events after the reporting period
8. Taxation
9. Reporting financial performance
10. Revenue
11. Government grants
12. Foreign currency transactions

C. Analysing and interpreting the financial statements of single entities and groups

1. Limitations of financial statements
2. Calculation and interpretation of
accounting ratios and trends to address users’ and stakeholders’ needs
3. Limitations of interpretation techniques
4. Specialised, not-for-profit, and public sector entities

 

D. Preparation of financial statements

1. Preparation of single entity financial statements
2. Preparation of consolidatied financial statements including an associate

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