Mind the Gap - AIM Academyaimacademy.com.mt/.../2015/06/Mind_the_Gap_F3_to_F7_ACCA_pap… · F1...
Transcript of Mind the Gap - AIM Academyaimacademy.com.mt/.../2015/06/Mind_the_Gap_F3_to_F7_ACCA_pap… · F1...
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ACCA Paper F7 – Financial Reporting INT
Mind the GapMay 2011 Exam
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Tutor Contact Details
• Tutor Name – Monique Micallef
• Email – [email protected]
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Links to other parts of the qualification
Professional LevelEssentials (3 papers)P1 - Professional AccountantP2 - Corporate ReportingP3 - Business Analysis
Options module (2 papers out of a choice of 4)P4 - Advanced Financial ManagementP5 - Advanced Performance ManagementP6 - Advanced TaxationP7 - Advanced Audit & Assurance
Professional LevelEssentials (3 papers)P1 - Professional AccountantP2 - Corporate ReportingP3 - Business Analysis
Options module (2 papers out of a choice of 4)P4 - Advanced Financial ManagementP5 - Advanced Performance ManagementP6 - Advanced TaxationP7 - Advanced Audit & Assurance
Fundamentals LevelKnowledge (3 papers)F1 Accountant in BusinessF2 Management AccountingF3 Financial Accounting
Skills (6 papers)F4 Corporate and Business LawF5 Performance ManagementF6 TaxationF7 Financial ReportingF8 Audit and AssuranceF9 Financial Management
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F3 syllabus content
Structured into 6 main sections:
1. Section A Purpose of financial reporting
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F3 syllabus content
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F3 syllabus content
Structured into 6 main sections:
1. Section A
2. Section BCharacteristics of useful
financial information
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F3 syllabus content
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F3 syllabus content
Structured into 6 main sections:
1. Section A
2. Section B
3. Section CDouble entry book keeping
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F3 syllabus content
Structured into 6 main sections:
1. Section A
2. Section B
3. Section C
4. Section D
Recording types of transactions.
Topics covered in more detail
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F3 syllabus content
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F3 syllabus content
Structured into 6 main sections:
1. Section A
2. Section B
3. Section C
4. Section D
5. Section E Checks and reconciliations
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F3 syllabus content
Structured into 6 main sections:
1. Section A
2. Section B
3. Section C
4. Section D
5. Section E
6. Section FBasic financial statements
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F3 syllabus content
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F7 syllabus content
Structured into 5 main sections:
1. Section A Conceptual framework for financial reporting
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F7 syllabus content
Structured into 5 main sections:
1. Section A
2. Section B Regulatory framework
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F7 syllabus content
Structured into 5 main sections:
1. Section A
2. Section B
3. Section C
Preparation and presentation of financial statements
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F7 syllabus content
Structured into 5 main sections:
1. Section A
2. Section B
3. Section C
4. Section D
Accounting for business combinations
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F7 syllabus content
Structured into 5 main sections:
1. Section A
2. Section B
3. Section C
4. Section D
5. Section E
Analysing and interpreting financial statements
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F3 Exam Structure
• Completion time for exam is 2 hours.
• Short questions : multiple choice
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F7 Exam Structure
• Completion time for exam is 3 hours.
• 5 compulsory questions
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F7 Exam Structure
Question 1
• 25-mark question: business combinations.
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F7 Exam Structure
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F7 Exam Structure
Question 2
• 25-mark question: preparation (or restatement) of a single entity’s financial statements.
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F7 Exam Structure
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F7 Exam Structure
Question 3
• 25-mark question: analysis and interpretation of financial statements.
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F7 Exam Structure
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F7 Exam Structure
Questions 4 and 5
• Questions 4 (15 marks) and 5 (10 marks): remainder of the syllabus.
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F7 Exam Structure