ACCA Financial Reporting Module - ACCA FR F7

This ACCA FR F6 Financial Reporting module is designed to develop your understanding of how to apply IFRS standards and the frameworks involved in preparing financial statements. During this course, you'll learn more about the regulatory framework for accountancy and how this helps to set standards. You'll also learn how to analyse and interpret financial statements and how to demonstrate your employability and technology skills. To achieve the full ACCA membership qualification you will need to complete this course, as well as 12 other modules. Alternatively, you can complete this module, plus the following five modules to achieve the ACCA Fundamentals - Applied Skills qualification:

• ACCA LW F4 Corporate and Business Law
• ACCA PM F5 Performance Management
• ACCA TX F6 Taxation
• ACCA AA F8 Audit and Assurance
• ACCA FM F9 Financial Management

Or, if you're looking to simply develop your knowledge of business environments, you can also study this course on its own. Read our guide to the ACCA course and modules.

Course Content

Section A The conceptual and regulatory framework for financial reporting

• The need for a conceptual framework and the characteristics of useful information
• Recognition and measurement
• Regulatory framework
• The concepts and principles of groups and consolidated financial statements

Section B Accounting for transactions in financial statements

• Tangible non-current assets
• Intangible assets
• Impairment of assets
• Inventory and biological assets
• Finaicla instruments
• Leasing
• Provisions and events after the reporting period
• Taxation
• Reporting financial performance
• Revenue
• Government grants
• Foreign currency transactions

Section C Analysing and interpreting the financial statements of single entities and groups

• Limitations of financial statements
• Calculation and interpretation of accounting ratios and trends to address users' and stakeholders' needs
• Limitations of interpretation techniques
• Specialised, not-for-profit, and public sector entities

Section D Preparation of financial statements

• Preparation of single entity financial statements
• Preparation of consolidated financial statements including an associate

Section E Employability and technology skills

• Use computer technology to efficiently access and manipulate relevant information
• Work on relevant response options, using available functions and technology, as would be required in the workplace
• Navigate windows and computer screens to create and amend responses to exam requirements, using the appropriate tools
• Present data and information effectively, using the appropriate tools