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ACCA: FR (F7) Financial Reporting
Rating: 4.1 out of 5(80 ratings)
554 students

ACCA: FR (F7) Financial Reporting

Financial Reporting
Created byRowan Malherbe
Last updated 1/2019
English

What you'll learn

  • Obtain an in depth understanding of accounting and Financial Reporting.
  • How to analysis a Statement of Financial Position and Statement of Comprehensive income.
  • How to calculate a Statement of Cash Flows correctly.
  • Understand Consolidations and the Consolidated Financial Statements.
  • How to disclose various items within the Annual Financial Statements correctly.
  • Understand various International Accounting Standards (IAS) as well as the International Financial Reporting Standards (IFRS).
  • Ability to discuss and apply a conceptual and regulatory frameworks for financial reporting.
  • Account for transactions in accordance with International accounting standards.
  • Analyse and interpret financial statements.
  • Prepare and present financial statements for single entities and business combinations in accordance with International accounting standards.
  • And much much more...

Course content

1 section • 25 lectures • 5h 39m total length

  • Introduction4:18
  • Tangible non-current assets (IAS 16)22:19
  • Investment property (IAS 40)13:03

    Explore the scope and recognition of investment property under IAS 40, including cost and face value models, and transfers to and from property, plant and equipment.

  • Borrowing Costs (IAS 23)4:16

    Capitalize only borrowing costs directly attributable to qualifying assets with a substantial preparation period under IAS 23. Identify qualifying assets, such as inventories, manufacturing plants, intangible assets, and investment properties.

  • Intangible assets (IAS 38)12:13

    Explore IAS 38 intangible assets, non-monetary assets with no physical substance, covering recognition criteria, development versus research phases, internal generation, and cost or revaluation measurement through to amortization and disposal.

  • Impairment of assets (IAS 36)9:45
  • Inventories (IAS 2)10:48
  • Leases (IAS 17)24:04

    Explore IAS 17 leases: distinguish finance and operating leases, apply substance over legal form, classify land and buildings, and learn accounting treatments and examples.

  • FInancial Instruments (IAS 32, IFRS & IFRS 9)19:30
  • Government Grants (IAS 20)2:29
  • Revenue (IFRS 15)16:43

    Explains IFRS 15 revenue recognition: identify contracts and distinct performance obligations, allocate the transaction price, and recognize revenue when obligations are satisfied, either over time or at a point.

  • Taxation (IAS 12)38:01

    Apply IAS 12 to current and deferred tax, computing taxable profits and temporary differences. Recognize tax assets and liabilities and reflect effects in profit or loss or in equity.

  • Provisions, contingent liabilities and contingent assets (IAS 37)12:22

    Explain provisions under IAS 37, including recognition criteria, measurement using present value, unwinding of discount, and disclosure of contingent liabilities and assets.

  • Events after the reporting period (IAS 10)7:35
  • Earnings per share (IAS 33)15:36

    Explain earnings per share under IAS 33, including basic and diluted EPS calculations from net profit and weighted average shares, with effects of bonus, rights, and conversions.

  • Introduction to groups7:51
  • The consolidated statement of financial position (IFRS 10)22:51
  • The consolidated statement of profit or loss and other comprehensive income7:31
  • Accounting for associates (IAS 28)12:24
  • Presentation of published financial statements (IAS 1)10:56
  • Reporting financial performance (IAS8 & IFRS 5)17:07
  • Calculation and interpretation of accounting ratios and trends20:52
  • Limitations of financial statements and interpretation techniques10:48
  • Statement of Cash Flows (IAS 7)7:29
  • Specialized, not-for-profit and public sector entities8:35

    Analyze not for profit and public sector entities, their cash to accrual shift, budgeting, accountability, funding sources, stakeholders, and performance metrics focused on economy, efficiency, and effectiveness.

  • Quiz 1

Requirements

  • A basic understanding of accounting.
  • We would recommend looking at our ACCA F3 Financial Accounting course.
  • Pen and paper

Description

This comprehensive course is strategically crafted to cultivate both knowledge and skills essential for understanding and applying accounting standards and the theoretical framework in the meticulous preparation of financial statements for various entities, including groups. Delving into the intricacies of both International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS), the course aims to provide participants with a nuanced understanding of complex financial reporting requirements.

Key Learning Components:

  1. Accounting Standards and Theoretical Framework: Develop a comprehensive understanding of accounting standards and the theoretical framework that underpins the preparation of financial statements. Participants will gain insights into the principles governing financial reporting.

  2. Application of IAS and IFRS: Explore and analyze the intricacies of International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS), with a focus on navigating the complexities of adhering to global reporting standards.

  3. Financial Statement Analysis and Interpretation: Acquire the skills necessary to analyze and interpret financial statements, enhancing participants' ability to derive meaningful insights from financial data.

  4. Preparation for Financial Challenges: Upon completion of this course, participants will possess a broader and in-depth understanding of accounting and financial reporting. This knowledge will empower them to proactively navigate the challenges within the dynamic realm of finance, making informed decisions with confidence.

By seamlessly integrating theoretical knowledge with practical application, this course ensures that participants not only grasp the intricacies of accounting standards but also develop the skills needed to apply this knowledge effectively. The overarching goal is to equip participants with the expertise required to tackle diverse financial reporting challenges in a rapidly evolving global financial landscape.

Who this course is for:

  • People and students who are looking at expanding their knowledge on the accounting principles.

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