ACCA – Financial Reporting (FR)
This subject helps you develop knowledge and skills in understanding and applying IFRS
London Governance & Compliance Academy
Summary
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Overview
This subject helps you develop knowledge and skills in understanding and applying IFRS Standards and the theoretical framework in the preparation of financial statements of entities, including groups and how to analyse and interpret those financial statements.
The financial reporting syllabus assumes knowledge acquired in Financial Accounting (FA) and develops and applies this further and in greater depth. 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 IFRS Standards.
The syllabus also covers the analysis and interpretation of information from financial reports. Finally, the syllabus contains outcomes relating to the demonstration of appropriate digital and employability skills in preparing for and taking the FR examination. This includes being able to interact with different question item types, manage information presented in digital format and being able to use the relevant functionality and technology to prepare and present response options in a professional manner.
Qualification
ACCA Diploma in Accounting and Business (RQF Level 4)
Course media
Description
Syllabus structure
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The conceptual and regulatory framework for financial reporting
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Accounting for transactions in financial statements
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Analysing and interpreting the financial statements of single entities and groups
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Preparation of financial statements
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Employability and technology skills
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Main Capabilities
On successful completion of this subject, you should be able to:
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Discuss and apply a conceptual and regulatory framework for financial reporting
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Account for transactions in accordance with International IFRS Standards
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Analyse and interpret financial statements.
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Prepare and present financial statements for single entities and business combinations in accordance with International IFRS Standards
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Demonstrate employability and technology skills
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Who is this course for?
The ACCA qualification is ideal for people who want a career in finance and business.
Requirements
The Financial Reporting (FR) exam is part of the Applied Knowledge Level of the ACCA qualification. If you are graduated with a degree accredited by ACCA you are exempt from this subject.
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