ACCA-FR-Financial Reporting

Course description:

The syllabus for Paper F7, Financial Reporting, builds on the knowledge gained in Paper F3, Financial Accounting and seek to examine candidates’ understanding and applying accounting standards as well as developing the knowledge of theoretical framework in the preparation of financial statements of entities. The learning also extended to interpretation of these financial statements.

The syllabus begins with the conceptual framework for financial reporting with reference to the qualitative characteristics of useful information and the fundamental bases of accounting introduced in the Paper F3 syllabus within the Knowledge module. It then moves into a detailed examination of the regulatory framework of accounting and how this informs the standard setting process.

The main areas of the syllabus cover the reporting of financial information for single companies and for groups in accordance with generally accepted accounting principles and relevant accounting standards.

Finally, the syllabus covers the analysis and interpretation of information from financial reports. This papers is assessed by 3 hours computer based examination (Session CBE) and examines both computational and interpretational skills. The pass mark is 50%.

Certification:

You won’t get any certificate on completion of this paper. However, this is a mandatory module to pass to complete your ACCA qualification. However, students will be awarded “Advanced Diploma in Accounting and Business” when they have successfully completed (either passed or exempt) Papers F4-F9. A positive result is required for all nine F1 to F9 papers in order for the Advanced Diploma in Accounting and Business certificate to be awarded.

 Learning outcomes:

On successful completion of this paper, candidates should be able to:

1. Discuss and apply a conceptual and regulatory frameworks for financial reporting.
2. Account for transactions in accordance with International accounting standards.
3. Analyse and interpret financial statements.
4. Prepare and present financial statements for single entities and business combinations in accordance with International accounting standards.

Course features:

• Lectures : 23
• Revision class: 2
• Mock Tests : 2
• Duration: 4 Months
• Course level : Skill level
• Language : English
• Students: 30
• Certificate: No
• Assessments: Computer Based Exam

Performance Objectives
Essential	Technical
PO1 – Professionalism and Ethics	PO6 – Record and Process transactions and events
PO2 – Stakeholder Relationship Management	PO7 – Prepare external financial reports
	PO8 – Analyse and interpret financial reports