FR | Financial Reporting

ACCA FR (Financial Reporting) is one of papers in Applied Skills Module.

Course Summary

ACCA FR (Financial Reporting) is one of papers in Applied Skills Module.  The syllabus states its aim is to 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.  

It is important to stress that the knowledge and skills in Financial Reporting are partly from Financial Accounting.  The areas such as conceptual framework for financial reporting, recording transactions and preparing financial statements.  

On top of these fundamental knowledge and skills, you are required to apply to financial reporting for single companies and for groups in accordance with generally accepted accounting principles and relevant accounting standards.  In addition, you are required to do analysis and interpret financial information from financial reports. This area leads directly to Strategic Business Reporting (SBR).

EXAM STRUCTURE

All questions are compulsory.

The 3-hour (see below) exam will assess all parts of the syllabus and will test knowledge and some comprehensive or application of this knowledge.  For paper-based exams, an extra 15 minutes is given to you to reflect the manual effort required as compared to the time needed for CBE.  Total exam time is therefore 3 hours and 15 minutes.  

Section A includes 15 two-mark objective test questions covering all areas in the syllabus.  
Section B comprises 3 ten-mark questions each containing five objective test questions.  
Section C comprises two 20 marks constructed response questions.  

The questions will examine the interpretation and preparation of financial statements for either a single entity or a group.  

Here is the link you can find Strategic Professional CBE Specimen exams: https://www.accaglobal.com/gb/en/student/exam-support-resources/strategic- professional-specimen-exams-cbe.html

SYLLABUS

ACCA FR is one of the Applied Skills Level papers in your ACCA professional qualification journey.  

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 Financial Accounting (FA) 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.

FR – FINANCIAL REPORTING
FA – FINANCIAL ACCOUNTING
SBR – STRATEGIC BUSINESS REPORTING
AA – AUDIT & ASSURANCE 

There are 5 principle areas in the syllabus, which are –

A
The conceptual and regulatory framework for financial reporting

Discuss and apply a conceptual and regulatory frameworks for financial reporting

B
Accounting for transactions in financial statements

Account for transactions in accordance with IFRS Accounting Standards 

C
Analysing and interpreting financial statements
Analyse and interpret financial statements

D
Preparation of financial statements
Prepare and present financial statements for single entities and business combinations in accordance with IFRS Accounting Standards

E
Employability and technology skills
Demonstrate employability and technology skills

F
Professional skills
Apply a range of professional skills in addressing requirements within the Advanced Financial exam, and in preparation for, or to support, current work experience.

Course Curriculum

Sarvesh Mopkar

Chrisbin Thankachan

ACCA Finalist​​

I have attended Sarvesh Sirs lectures for my Financial Reporting Paper. He is an excellent tutor. Sir has explained every topic with atmost dedication and in the simplest manner.He has motivated and guided me. I would highly recommend learning FR from Sarvesh Sir.

TIME MANAGEMENT

The general principle in ACCA Financial Reporting Paper exam is 1 mark per 1.8 minute which means you have 100 marks to complete an exam within 180 minutes.  

It is observed that many good attempts in Section A and Section B but not in Section C.  You should be careful that the time spent on Section C questions of the exam.  Examiners suggest you should allocate 72 minutes (or 40%), the minimum, of your total time in attempting Section C. It is probably more than what you need to work on objective test questions.  

HOW DO WE BUILD VALUE FOR THE ACCA - FR STUDENTS

CA Sarvesh Mopkar has been training the students to meet the specific requirements of the FR exam for the past 7 years. He is known for inculcating the following value during his trainings :-
 
1. Building a strong foundational knowledge in financial management
2. Relating complex exam scenarios with real life examples and case studies
3. Facilitating the process where the student can confidently handle the exam pressure

Course Pricing

Currently we provide ONLY recorded revision sessions for the FR paper.
You will be provided with 56 hours of recorded content which you can learn in a self-styled and self-paced manner.

One Time Purchase

6990 INR

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