ACCA FR - Financial Reporting - Free 7 Day Preview
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What You’ll Learn in ACCA Financial Reporting (FR)
The ACCA Financial Reporting (FR) exam develops your ability to understand, prepare, and interpret financial statements in accordance with International Financial Reporting Standards (IFRS). You’ll learn how to apply key accounting standards, analyse financial performance, and produce high-quality financial reports that support transparency and good governance.
FR builds on the foundations from FA and prepares you for the more advanced Strategic Professional papers such as SBR.
The financial reporting framework
Gain a deeper understanding of the regulatory and conceptual frameworks that govern financial reporting. You’ll explore the objectives of financial statements, qualitative characteristics of useful information, and the role of standard-setting bodies in creating high-quality global reporting.
Preparing and presenting financial statements
Learn to prepare full sets of financial statements for single entities — including the Statement of Financial Position, Statement of Profit or Loss and OCI, Statement of Changes in Equity, and Cash Flow Statement — in compliance with IFRS requirements.
Application of key IFRS Standards
Develop strong technical skills by applying IFRS to real accounting situations. You’ll study revenue recognition, leases, financial instruments, provisions, intangible assets, PPE, inventory, government grants, borrowing costs, impairment, and more. You’ll learn how these standards shape the recognition, measurement, and disclosure of items in financial statements.
Revenue, assets, liabilities, and equity
Broaden your understanding of how major elements of financial statements are recorded and presented. You’ll cover non-current assets, depreciation and revaluation, intangible assets, inventory valuation, equity instruments, provisions, contingent liabilities, and fair value measurement.
Group accounting and consolidation
Learn how to prepare basic consolidated financial statements for groups. You’ll cover the principles of control, calculating goodwill, intra-group adjustments, non-controlling interests, and how to combine the results of parent and subsidiary companies in a single set of accounts.
Financial statement analysis and interpretation
Develop the ability to evaluate financial performance using ratio analysis and interpret financial information from the perspective of shareholders, analysts, and lenders. You’ll explore profitability, liquidity, efficiency, gearing, and how to assess the financial health of a business.
Accounting policies, estimates, and errors
Understand how policies and estimates influence the reliability of financial information. You’ll learn how to account for changes in estimates, correct prior-period errors, and follow disclosure requirements that enhance comparability.
Disclosure, transparency, and ethics
Explore the importance of ethical behaviour and transparent reporting. You’ll examine how proper disclosure supports stakeholder confidence and how accountants must apply integrity, objectivity, and professional judgement in the reporting process.