ACCA FR
Financial Reporting (INT)

The key syllabus areas are:

• The conceptual and regulatory framework for financial reporting
• Accounting for transactions in financial statements
• Preparation of financial statements
• Analysing and interpreting financial statements

The FR exam is a 3 hour computer based exam. All questions are compulsory and will cover numerical and discursive elements. Some questions will adopt a scenario/case study approach. 

• Section A comprises 15 objective test questions of 2 marks each. 
• Section B comprises three 10 mark case-based questions. Each case has five objective test questions of 2 marks each.
• Section C comprises two 20 marks questions.  These questions will examine the interpretation and preparation of financial statements for either a single entity or a group.
• The Section A and Section B questions can cover any area of the syllabus. 

Questions may ask a candidate to comment on the appropriateness or acceptability of management's opinion or chosen accounting treatment. An understanding of accounting principles and concepts and applying to practical examples will be tested. 

Many students find the FR exam difficult. It is quite time pressured so lots of timed question practice on the core areas is essential. The examiner is very keen that students understand and apply accounting standards rather than just rote learn them.  Examiner's reports also emphasise the need to prepare thoroughly and not just rely on knowledge acquired at AAT or Financial Accounting (FA).