Acca f7 new syllabus

The ACCA F7 Financial Reporting (New Syllabus) exam!

Here's an overview of the exam and some key points to help you prepare:

Exam Overview

The ACCA F7 Financial Reporting (New Syllabus) exam is a 2-hour exam that tests your knowledge and skills in financial reporting, including the preparation of financial statements, accounting standards, and regulatory requirements.

Exam Syllabus

The new syllabus for F7 Financial Reporting is effective from September 2019 and consists of the following topics:

1. Financial Reporting Framework (15% of the exam)
   • Financial reporting framework and regulatory environment
   • Accounting standards and regulatory requirements
2. Financial Statements (40% of the exam)
   • Balance sheet
   • Income statement
   • Cash flow statement
   • Notes to the financial statements
3. Accounting Standards (20% of the exam)
   • International Financial Reporting Standards (IFRS)
   • International Accounting Standards (IAS)
   • UK Generally Accepted Accounting Practice (UK GAAP)
4. Regulatory Requirements (15% of the exam)
   • Company Law
   • Financial Services and Markets Act 2000
   • Financial Conduct Authority (FCA) requirements
5. Financial Reporting Issues (10% of the exam)
   • Complex financial reporting issues
   • Emerging issues in financial reporting

Exam Format

The exam consists of 15 multiple-choice questions and 2 case studies. The multiple-choice questions are divided into two sections:

• Section A: 10 questions, each worth 2 marks (total 20 marks)
• Section B: 5 questions, each worth 4 marks (total 20 marks)

The case studies are worth 40 marks each and require you to apply your knowledge and skills to real-life scenarios.

Tips for Preparation

1. Familiarize yourself with the new syllabus and exam format.
2. Review the ACCA's study materials, including the F7 Financial Reporting study guide and practice questions.
3. Focus on the key topics and areas of the syllabus, such as financial reporting framework, financial statements, and accounting standards.
4. Practice, practice, practice! Use online resources, such as practice exams and case studies, to test your knowledge and skills.
5. Join a study group or online community to discuss the exam and share resources with other students.