Financial Reporting (FR) - Association of Chartered ...

1 Financial Reporting (FR). Syllabus and study guide September 2019 to June 2020. Financial Reporting (FR). Summary of content Introduction 1. Intellectual levels 2. Learning hours and educational recognition 3. Guide to ACCA examination structure 4. Guide to ACCA examination assessment Financial Reporting syllabus 5. Relational diagram linking Financial Reporting with other exams 6. Overall aim of the syllabus 7. Main capabilities 8. Rationale 9. Approach to examining the syllabus 10. The syllabus Financial Reporting study guide 11. Detailed study guide ACCA 2018-2019 All rights reserved.

2 Financial Reporting (FR). levels hours and The syllabus is designed to education progressively broaden and deepen the recognition knowledge, skills and professional values demonstrated by the student on The ACCA qualification does not their way through the qualification. prescribe or recommend any particular number of learning hours for The specific capabilities within the examinations because study and detailed syllabuses and study guides are learning patterns and styles vary greatly assessed at one of three intellectual or between people and organisations. This cognitive levels: also recognises the wide diversity of personal, professional and educational Level 1: Knowledge and circumstances in which ACCA students comprehension find themselves.

3 Level 2: Application and analysis Level 3: Synthesis and evaluation As a member of the International Federation of Accountants, ACCA seeks Very broadly, these intellectual levels to enhance the education recognition of relate to the three cognitive levels at its qualification on both national and which the Applied Knowledge, international education frameworks, and the Applied Skills and the strategic with educational authorities and partners Professional exams globally. In doing so, ACCA aims to are assessed. ensure that its qualification is recognised and valued by governments, regulatory Each subject area in the detailed study authorities and employers across all guide included in this document is given sectors.

4 To this end, ACCA qualification a 1, 2, or 3 superscript, denoting is currently recognised on the education intellectual level, marked at the end of frameworks in several countries. Please each relevant learning outcome. This refer to your national education gives an indication of the intellectual framework regulator for further depth at which an area could be information. assessed within the examination . However, while level 1 broadly equates Each syllabus is organised into main with Applied Knowledge, level 2 subject area headings which are further equates to Applied Skills and level 3 to broken down to provide greater detail on strategic Professional, some lower level each area.

5 Skills can continue to be assessed as the student progresses through each level. This reflects that at each stage of study there will be a requirement to broaden, as well as deepen capabilities. It is also possible that occasionally some higher level capabilities may be assessed at lower levels. ACCA 2018-2019 All rights reserved. Financial Reporting (FR). to ACCA assessment methods allow ACCA to focus on testing students' technical and examination application skills, rather than, for structure and example, their ability to perform simple delivery mode calculations. The structure and delivery mode of strategic Professional examinations varies.

6 strategic Business Leader is ACCA's case study examination at strategic Applied Knowledge Professional and is examined as a The Applied Knowledge examinations closed book exam of four hours, contain 100% compulsory questions to including reading, planning and encourage candidates to study across reflection time which can be used the breadth of each syllabus. These flexibly within the examination . There is are assessed by a two-hour computer no pre-seen information and all exam based examination . related material, including case information and exhibits are available Applied Skills within the examination .

7 strategic The Corporate and Business Law exam Business Leader is an exam based on is a two-hour computer-based objective one main business scenario which test examination for English and Global. involves candidates completing several For the format and structure of the tasks within which additional material Corporate and Business Law or may be introduced. All questions are Taxation variant exams, refer to the compulsory and each examination will Approach to examining the syllabus' in contain a total of 80 technical marks and section 9 of the relevant syllabus and 20 Professional Skills marks.

8 Study guide. The other strategic Professional exams The other Applied Skills examinations are all of three hours and 15 minutes (PM, TX-UK, FR, AA, and FM) duration. All contain two Sections and contain a mix of objective and longer all questions are compulsory. These type questions with a duration of three exams all contain four professional hours for 100 marks. These are marks. assessed by a three hour computer- based exam. Prior to the start of each For September and December 2019. exam there will be time allocated for sessions, all strategic Professional students to be informed of the exam exams will be assessed by paper based instructions.

9 examination . From March 2020, these exams will become available by The longer (constructed response) computer based examination . More question types used in the Applied Skills detail regarding what is available in your exams (excluding Corporate and market will be on the ACCA global Business Law) require students to website. effectively mimic what they do in the workplace. Students will need to use a With Applied Knowledge and Applied range of digital skills and demonstrate Skills exams now assessed by computer their ability to use spreadsheets and based exam, ACCA is committed to word processing tools in producing their continuing on its journey to assess all answers, just as they would use these tools in the workplace.

10 These ACCA 2018-2019 All rights reserved. Financial Reporting (FR). exams within the ACCA Qualification using this delivery mode. The question types used at strategic Professional again require students to effectively mimic what they would do in the workplace and, with the move to CBE, these exams again offer ACCA the opportunity to focus on the application of knowledge to scenarios, using a range of tools spreadsheets, word processing and presentations - not only enabling students to demonstrate their technical and professional skills but also their use of the technology available to today's accountants.