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%.
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.
On successful completion of this paper, candidates should be able to:
- Discuss and apply a conceptual and regulatory frameworks for financial reporting.
- Account for transactions in accordance with International accounting standards.
- Analyse and interpret financial statements.
- Prepare and present financial statements for single entities and business combinations in accordance with International accounting standards.
- 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
|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|
- Lectures 22
- Quizzes 2
- Duration 4 Months
- Skill level Skill levels
- Language English
- Students 2
- Assessments Yes
- Introduction & Basic Consolidation SOFP
- Consolidation – SOFP
- Consolidation – SOPL
- Consolidation – Mixed
- Consolidation – Mixed & MCQs
- IAS 21, IAS 16
- IAS 2, IAS 40
- IAS 36, IAS 10
- IAS 37, IAS 20
- IAS 23, IFRS 5, IAS 38
- IFRS 15
- IFRS 16, IAS 41
- Cash Flows
- Cash Flows continued, Analysing Financial Statements
- Analysing Financial Statements
- Analysing Financial Statements, Conceptual Framework
- IAS 33
- IAS 8, IFRS 9
- IFRS 9 (continued), IAS 12
- Single Entity
- Mock exam 1
- Mock exam review session
- Mock exam 2
- Mock exam review session