ACCA Financial Reporting Course

Introduction

Instructor: Chris Barlow

• You will interact with Chris throughout the course.
• Chris will handle lectures, class notes, practice questions, and forum queries.
• Aim: Make the journey enjoyable and successful.

Overview of Content

1. Syllabus Introduction (Sep 2019 onwards)

   • Briefing on prior knowledge (Financial Accounting - F3 or equivalent).
   • Exam Structure and Pass Rates.
   • Available Resources.
   • Keys to Success.

2. Syllabus Details

   • Minor updates: Conceptual and Regulatory Framework.
   • Focus on application of accounting standards (IFRS/IAS).
   • Exam Areas:
     • Revenue (IFRS 15)
     • Leases (IFRS 16)
     • Financial Statements Analysis (including ratio analysis).
     • Financial Statements Preparation (single entities, groups).

Exam Structure

• Section A: 15 MCQs, 2 marks each (30 marks total).
• Section B: 3 scenarios with 5 related MCQs each (10 marks per scenario, 30 marks total).
• Section C: 2 questions (20 marks each, 40 marks total).
  • Financial Statements Preparation.
  • Financial Statements Interpretation.

Timing: 3 hours total (1.8 minutes per mark).

Pass Rates

• Consistent pass rates: 47%-51%.

Resources

• ACCA Website: Syllabus, past papers, specimen exams, technical articles.
• Open Tuition: Class notes, lectures, practice questions, flashcards, revision videos.
• Ask the Tutor Forum: Use for queries and ensure you check if your question was already asked.

Keys to Success

1. **Work Hard

   • Understand basics and cover entire syllabus.

2. Exam Strategy

   • Focus on easier parts first. Don’t aim for 100%.
   • Follow the rule of diminishing returns: move on when the time is up.

3. Question Practice

   • Do past questions under timed conditions.
   • Avoid looking at answers immediately.

4. Utilize Resources

   • Use ACCA and Open Tuition materials.
   • Seek help on forums.

Final Remarks

• Follow the course steps.
• Good luck and enjoy the course!