The Syllabus for ACCA F7, financial reporting, assumes knowledge acquired in Paper F3,
Financial Accounting, and develops and applies this further and in greater depth.
The F7 syllabus begins with the conceptual framework of accounting with reference to the
qualitative characteristics of useful information and the fundamental bases of accounting
introduced in the Paper F3 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 ACCA F7 syllabus cover the reporting of financial information
for single companies and for groups in accordance with generally accepted accounting
principles and relevant accounting standards. Finally, the syllabus covers the analysis and
interpretation of information from financial reports
Download: ACCA F7 Syllabus
ACCA F7 Syllabus assessment:
The F7 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
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. For example the preparation of an entityâ€™s financial statements could
include matters relating to several accounting standards.
Questions may ask candidates to comment on the appropriateness or acceptability of
managementâ€™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.
For detailed or complex standards, candidates need to be aware of their principles and key