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ACCA F6 Exam Format

ACCA F7 Paper, aims 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 analyze and interpret those financial statements. The ACCA F7 exam format for Paper F7 Financial Reporting (FR) focusses on developing the further skills of applying accounting standards to the preparation and analysis of financial statements.

ACCA F7 Syllabus:

ACCA F7 syllabus, financial reporting syllabus assumes knowledge acquired in Paper F3, Financial Accounting, and develops and applies this further and in greater depth. The candidate must know about the ACCA F7 Exam Format to guide their studies accordingly.

ACCA F7 Exam Format:

ACCA F7 paper can be taken as a paper based exam. The ACCA F7 exam format paper takes into account the fact that the subject matter of the paper is mandatory as accountants and auditors can prepare or read the statements only when they are aware of the framework in which the financial reports are made. The detailed outline of ACCA F7 exam format is given below.

The syllabus is assessed by a three-hour paper-based examination. All questions are compulsory.

  • It will contain both computational and discursive elements.
  • Some questions will adopt a scenario/case study approach.
  • Section A of the exam comprises 20 multiple choice questions of 2 marks each.
  • Section B of the exam comprises two 15 mark questions and one 30 mark question.
  • The 30 mark question will examine the preparation of financial statements for either a single entity or a group. The section A question and the other questions in section B can cover any areas of the syllabus.
  • An individual question may often involve elements that relate to different subject areas of the syllabus.
  • Questions may ask candidates to comment on the appropriateness or acceptability of management’s opinion or chosen accounting treatment. An understanding of accounting principles and concepts and how these are applied to practical examples will be tested.
  • Questions on topic areas that are also included in Paper F3 will be examined at an appropriately greater depth in this paper.
  • Candidates will be expected to have an appreciation of the need for specified accounting standards and why they have been issued.
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