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    FR Exam Infographic v1

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    ssughra2607
    FR

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    FR Exam Infographic v1

    Uploaded by

    ssughra2607
    2 views1 page
    FR

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    FR exam infographic v1

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    FR

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    2 views1 page

    FR Exam Infographic v1

    Uploaded by

    ssughra2607
    FR

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    How to approach Financial Reporting (FR)

    What is FR about? Steps to Tackling


    Financial Reporting provides you with the skills required to success the exam
    apply accounting standards and the conceptual framework
    in the preparation of financial statements and how to analyse ✓ If possible, study with an Section A (30 marks)
    Approved Learning Partner 15 objective test (OT) questions,
    n 
    and interpret those financial statements.
    and use Approved Content each worth 2 marks
    ✓ Study the whole syllabus Section B (30 marks)
    ✓ Ensure you understand theories Three OT cases with five OT questions
    n 
    FR: An overview and techniques rather than just worth 2 marks each, 10 marks per case
    focus on how to do the calculations

    ✓ Practice exam style and standard Tips for answering


    questions, to time OT questions
    Accounting for ✓ Read the question carefully
    ✓ Develop your skills in answering
    transactions constructed response questions ✓ Adhere to the rounding instructions
    in financial for “Fill in the Blank” questions
    statements ✓ Attempt at least two full exams ✓ Answer all questions
    
    under exam conditions, debrief
    THE CONCEPTUAL
    ANALYSIS AND your answers, then focus your
    AND REGULATORY revision on weaker areas Section C (40 marks)
    INTERPRETATION
    FRAMEWORK Two scenarios which relate to one
    n 
    or more requirement(s)
    Preparing
    single entity
    financial Key Tips for answering
    Section C questions
    statements
    resources
    ✓ Be strict in allocating 36 minutes to
    n Examiner approach each question
    OF FINANCIAL
    FOR FINANCIAL ✓  Always read the requirement(s) first
    STATEMENTS n Objective test questions for
    REPORTING ✓ Present all workings – do not simply
    
    session CBEs
    Preparing “plug” results of calculations
    consolidated n Guide to session CBEs ✓  Structure narrative answers around
    financial an answer plan
    n How to approach performance
    statements appraisal questions ✓  Use headings, make clear
    statements and avoid repetition
    n Tell me a story ✓  Always include a conclusion on the
    analysis discussion
    n Read the mind of an FR marker
    ✓  Attempt all requirements
    n Examiner’s reports

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