ACCA Paper F7 - Financial Reporting (GBR) Practice and Revision Kit

Book excerpt: The Association of Chartered Certified Accountants (ACCA) is the global body for professional accountants. With over 100 years of providing world-class accounting and finance qualifications, the ACCA has significantly raised its international profile in recent years and now supports a BSc (Hons) in Applied Accounting and an MBA.BPP Learning Media is an ACCA Official Publisher. F7 is a demanding paper covering all the fundamentals of financial reporting. It has five main sections: 1. The conceptual framework of accounting 2. The regulatory framework 3. Preparation of financial statements which conform with IFRS 4. Preparation of consolidated financial statements 5. Analysis and interpretation of financial statementsF7 builds on knowledge from F3, or old paper 1.1. New topics introduced at this level are consolidated financial statements, construction contracts, financial instruments and leases. We also provide materials for the F7 INT variant. The most important factor in passing F7 will be lots of targeted question practice. The questions in our kit cover all areas of the F7 syllabus. The questions are laid out in sections which match the text chapters. All sections have past exam questions and some also have preparation questions which ease you into the topic. This helps you to organise your revision. You can review the text chapter, and then do the kit questions on that chapter. Our solutions are detailed and also give you advice on how to approach the question and how to get the easy marks.BPP Learning Media is the publisher of choice for many ACCA students and tuition providers worldwide. Join them and plug into a world of expertise in ACCA exams.