Which ACCA exam to do first Financial Reporting or Audit

by Eduyush Team

Why Taking the Financial Reporting Exam First Makes Sense for ACCA Candidates

If you're an ACCA candidate, you may be wondering which exam to take first: Financial Reporting or Audit Assurance. While both exams are essential, we believe that taking the financial reporting exam first makes sense for several reasons. Keep reading to learn more.

Top reasons why taking the FR paper prior to AA paper is better

  • The Financial Reporting Exam Covers More Ground - The financial reporting exam covers various topics, from accounting Standards to ratios and company reporting. As a result, it provides a solid foundation to build your knowledge of auditing. The audit exam, on the other hand, focuses solely on auditing standards and procedures. 
  • You Can Apply Your Financial Reporting Knowledge to the Audit Exam. Because the financial reporting exam covers a broad range of topics, you'll be able to apply much of what you learned to the audit exam. This will make studying for the audit exam easier and help you better understand the material.
  • The Audit Exam is More Difficult Than the Financial reporting Exam. While both exams are challenging, the audit exam is generally more complex than the Financial reporting exam. As a result, we believe it's best to save the audit exam for last. This way, you can use your previous experience with ACCA exams to your advantage and confidently approach the audit exam. 
  • You'll better understand Financial Statements if You Take the Financial Reporting Exam First. The financial reporting exam covers financial statements in depth. As a result, you'll develop a strong understanding of how they work and how to interpret them. This knowledge will be beneficial when it comes time to take the audit exam.
  • Our analysis of Eduyush students who enrolled for the online training on both courses also suggests this. Almost 87% of students opted in to take the FR paper first and came back to enrol with us in the subsequent quarter for the AA paper.
  • Analysis of pass rates for FR and AA

We analyse the pass rates of the previous few attempts for both FR and AA

Exam  Financial reporting % Audit Assurance %
Dec 20 48 39
Mar 21 47 43
Jun 21 51 39
Sep 21 48 39
Dec 21 50 38
Mar 22 50 44
Jun 22 51 39
Sep 22 50 44


The pass rates indicate that the FR papers have a relatively higher pass rates ranging around the 50% mark while the AA papers range in the high 30% mark.

Do read our blog on how to pass the AA paper

As you can see, there are several reasons why taking the financial reporting exam first makes sense for ACCA candidates. By taking this approach, you'll develop a solid foundation to build your knowledge of auditing and gain valuable experience that will help you succeed in future exams. So what are you waiting for? Get started today!

Closing comments

In conclusion, we believe that taking the Financial Reporting exam first is the better option for ACCA candidates. The skills and knowledge you will learn in this exam are essential for success on the Audit Assurance paper.

If you need to speak to our counsellor, visit Eduyush.com today to learn more about BPP Training and BPP books. We wish you all the best as you prepare for your exams!

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There are several ways to prepare for the ACCA exams, including studying the exam syllabus and practicing past exam questions. You can also attend review courses or hire a tutor to help you prepare. It's also a good idea to create a study schedule and stick to it, and to take breaks and pace yourself during your studies.

If you fail an ACCA exam, you will need to re-register and pay the exam fees again. You may also want to consider reviewing the exam syllabus and studying more before attempting the exam again. It's also a good idea to talk to your tutor or mentor for guidance and to get feedback on where you may have gone wrong.

There is no limit to the number of times you can attempt the ACCA exams, but you will need to pay the exam fees each time you register. It's a good idea to carefully review the exam syllabus and consider seeking additional help if you are struggling to pass the exams after multiple attempts.

ACCA Exams are held four times a year for skill level and strategic level exams. These are held every quarter

March, June, September and December

The CA (Chartered Accountant) qualification is offered by the Institute of Chartered Accountants of India (ICAI). The ACCA qualification is offered by the Association of Chartered Certified Accountants (ACCA).

The CA qualification has been in existence for over 150 years, and is a globally recognised qualification. The ACCA qualification has been in existence for over 100 years, and is also a globally recognised qualification.

The CA qualification is available in India only, while the ACCA qualification is available in over 180 countries.

The ACCA subjects are assessed on a 100-point scale. The pass mark is 50 points. A score of 60 or more is required to achieve the grades of distinction, credit, and merit.

Yes. Passing all exams with a high percentage is an excellent accomplishment and demonstrates that you have a high level of understanding of the material. Employers will see this as evidence of your competence and be likely to consider you for a position if you are looking for work in the accounting field.

The hardest ACCA paper is the F5 performance management paper. This is because it requires a detailed knowledge of financial accounting and management accounting in order to pass.

Other papers that are difficult include the F7 financial reporting paper and the P2 advanced auditing and assurance paper. However, all of the ACCA papers are challenging, so it is important to thoroughly prepare for each one before sitting the exam.