Syllabus of F7 Financial Reporting (FR)
The syllabus's goal is to develop knowledge and skills in the understanding and application of accounting principles as well as the theoretical framework for the preparation, analysis, and interpretation of financial statements of entities, including groups.
The Financial Reporting syllabus assumes prior knowledge of Financial Accounting (FA) and then develops and applies this in greater depth.
The syllabus begins with a reference to the qualitative characteristics of useful information and the basic accounting framework introduced in the knowledge module's Financial Accounting (FA) syllabus.
It then delves into a detailed examination of the accounting regulatory system and how it influences the standard-setting process.
The syllabus covers the reporting of financial information for single entities and groups in accordance with generally accepted accounting principles and relevant accounting standards. Finally, the syllabus discusses financial report interpretation and analysis.
Main capabilities
Candidates must be able to do the following in order to pass the exam:
- It is discussed and applied a conceptual and regulatory framework for financial reporting.
- Account for Transactions in accordance with International Accounting Standards
- Analyze and interpret financial statements.
- Prepare and present financial statements for single entities and business combinations in accordance with International Accounting Standards.
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