F7 - [2020] - Financial Reporting (FR) - STUDY TEXT and EXAM KIT - BPP

Syllabus of F7 Financial Reporting (FR)

The purpose of the syllabus is to build knowledge and skills in the understanding and application of accounting principles and the theoretical framework for the preparation and analysis and interpretation of financial statements of entities, including groups.

The syllabus for Financial Reporting assumes carry forward knowledge of Financial Accounting (FA) and then develops and applies this in greater detail.

The syllabus starts with the Financial Reporting conceptual framework with 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 goes into a detailed examination of the accounting regulatory system and how the standard setting process is influenced by this.

The key areas of the syllabus include the reporting of financial information, in compliance with generally accepted accounting principles and relevant accounting standards, for single entities and groups. At last, the syllabus covers the interpretation and analysis of financial report reports.

Main capabilities

To Completion the exam successfully, candidates should be able to:

• A conceptual and regulatory framework for financial reporting is discussed and applied.
• Transaction Account in compliance with International Accounting Standards
• Analyze financial statements and interpret them.
• Prepare and present financial statements according to International Accounting Standards for single entities and business combinations

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