ACCA Financial Reporting F7. Syllabus. Objectives. Pass rates

by Sianna Shah

The Association of Chartered Certified Accountants (ACCA) is a globally recognized accounting qualification. To become a member, students must pass a series of exams covering topics such as financial reporting. This blog post will give you an overview of what to expect from the ACCA financial reporting exam. 

The ACCA financial reporting exam tests students' ability to prepare and present financial statements following international accounting standards.

Financial Reporting helps you understand the information being presented in a way that decision-makers can use it.

 Financial statement analysis provides an understanding of how well-balanced your financial reports are and what their strengths and weaknesses might entail for prospects. 

Summary of ACCA F7

  • Also known as F7 or FR
  • Level: Applied Skill Exams
  • Compulsory subject: Yes
  • Pass rates: 42% to 48%
  • Key Topics: IFRS, Financial Reporting
  • Exam pattern: Mix of objective and case study-based questions
  • Duration: three hours and fifteen minutes
  • Number of Questions: Three sections comprising of approx 20 OT questions and two scenario-based questions

The objective of the ACCA Financial Reporting exam

This syllabus aims to develop knowledge and skills in understanding IFRS standards and the theoretical framework behind preparing financial statements. This includes learning how to analyze those reports, which can be interpreted in various ways depending on companies' needs for information or prospects they wish to explore further through an analysis now!

The financial reporting syllabus progresses from basic to more complex concepts. It assumes knowledge acquired in Financial Accounting (FA). It develops this further through various topics covered throughout the course of study while applying it within a real-world context. Hence, as not just be theory-based but also practical with application exercises at every turn!

Broad areas of the syllabus are

  1. Conceptual Framework of Financial Reporting
  2. Regulatory framework of accounting and standard-setting process
  3. Reporting of Financial information for single companies and groups
  4. Account for transactions by IFRS Standards
  5. Analysis and interpretation of data from financial statements
  6. Demonstration of appropriate digital and employability skills in preparing for and taking the FR examination.

What is the ACCA Financial Reporting Exam pattern?

A three-hour computer-based examination assesses the syllabus. All questions are compulsory. 

The exam will have both computational and discursive elements.

Section A of the exam comprises 15 objective test questions of 2 marks each. 

Section B of the exam comprises three questions, each containing five objective test questions of 2 marks each. 

Section C of the exam comprises two 20-mark constructed response questions.

The examination of financial statements will be a significant component of this test. You'll need to know how and when to prepare these documents for an individual or group entity, so we must examine the topic thoroughly here!

The particular question may often involve elements that relate to different subject areas of the syllabus. For example, preparing an entity's financial statements could include matters relating to IAS 1 through IFRS 5 and other standards.

What are ACCA financial reporting pass rates?

The pass rates for the ACCA FR exam usually range around the 50%s. Students tend to perform better at FR than other professional papers. The pass rates of the previous attempts are:

  • Jun 2021- 51%
  • Sep 2021- 48%
  • Dec 2021 - 50%
  • March 2022 - 50%
  • June 2022 - 51%

Which acca exam to do first financial reporting or audit?

There is no definite answer as to which ACCA exam you should do first, but many recommend doing the Financial Reporting exam first.

This is because understanding financial reporting is essential for audit and tax, so getting a solid foundation in this subject can be helpful before moving on to either of those areas. Additionally, the Financial Reporting exam covers topics tested in other exams, such as taxation, so passing this exam can give you an excellent general overview of the ACCA curriculum. Ultimately, it is up to each student to decide which order they want to take their exams in.

Financial reporting ACCA book and study resources

ACCA Books for FR

There are two ACCA FR books available: BPP and KAPLAN. Both of these books are excellent resources for ACCA exam preparation. However, each book has its unique approach to the material. Therefore, choosing the book best suits your learning style is essential.

For example, some students may prefer the more concise explanations in BPP, while others may find the additional practice questions in KAPLAN more helpful. Ultimately, the most important thing is to ensure you are comfortable with the material and feel confident going into your exams.

Refer to our expert blog which gives you insights on which publisher do students at Eduyush prefer

Eduyush can help you with the purchase of both these books. Use code NEWCUSTOMER for an additional discount.

The prices below are for the bundle of Workbook/study text and revision kit. 

The prices below are for the bundle of Workbook/study text and revision kit. 

  BPP Learning Media KAPLAN Publishing
Ebooks  Between INR 2000 to INR 2100 (approx 22 GBP)  Between 2900 INR to 3100 INR (approx 33 GBP)
Between INR 2900 to INR 3100 (approx 32 GBP) 
Between INR 3900 to INR 4100 (approx 42 GBP) 

Ebooks instant on payment

Paperback 4-7 days (free shipping)

Ebooks: 2-3 working days

Paperback 4-7 days (free shipping)

Link to purchase

BPP Ebooks

BPP paper

KAPLAN ebooks

KAPLAN paper


 BPP ACCA Financial reporting online coaching for FR

The BPP ECR online coaching is a great way to prepare for your SBR exams. It provides you with all the materials and support you need to succeed. The course fee includes:

- Recorded classes taught by BPP expert tutors

- Access to our extensive library of resources, including practice tests, CBE practice simulation and other Revision Aids

- Comprehensive course notes

- CBE Software practice with mock exams.

It is important to remember that the success of any exam preparation comes down to hard work and practice. The BPP online courses are designed to give you all the tools you need to succeed, but it is up to you to put in the effort required.

Students can avail of the BPP ECR from Eduyush at INR 4800 or approx 52 GBP.