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ACCA – Financial Reporting (FR)

This subject helps you develop knowledge and skills in understanding and applying IFRS

London Governance & Compliance Academy

Summary

Price
£425 inc VAT
Or £70.83/mo. for 6 months...
Study method
Distance learning
Duration
3 hours · Self-paced
Qualification
ACCA Diploma in Accounting and Business (RQF Level 4)
Regulated qualification What's this?

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)

Regulated by Ofqual

Course media

Description

Syllabus structure

    • The conceptual and regulatory framework for financial reporting

    • Accounting for transactions in financial statements

    • Analysing and interpreting the financial statements of single entities and groups

    • Preparation of financial statements

    • Employability and technology skills

Main Capabilities

On successful completion of this subject, you should be able to:

    • Discuss and apply a conceptual and regulatory framework for financial reporting

    • Account for transactions in accordance with International IFRS Standards

    • Analyse and interpret financial statements.

    • Prepare and present financial statements for single entities and business combinations in accordance with International IFRS Standards

    • Demonstrate employability and technology skills

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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Legal information

This course is advertised on reed.co.uk by the Course Provider, whose terms and conditions apply. Purchases are made directly from the Course Provider, and as such, content and materials are supplied by the Course Provider directly. Reed is acting as agent and not reseller in relation to this course. Reed's only responsibility is to facilitate your payment for the course. It is your responsibility to review and agree to the Course Provider's terms and conditions and satisfy yourself as to the suitability of the course you intend to purchase. Reed will not have any responsibility for the content of the course and/or associated materials.

FAQs

Study method describes the format in which the course will be delivered. At Reed Courses, courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on Reed Courses, many of which can be completed online.

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body's logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.
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