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About FR

Financial Reporting (F7) is a critical component of the ACCA qualification, focusing on the application and interpretation of accounting standards and the theoretical framework in the preparation of financial statements for various entities, including consolidated groups. This course, led by the Mustafa Mirchawala, offers an unparalleled opportunity to develop a deep understanding and practical skills in the world of financial reporting. 

Read FAQs for further details

About
FR

About FR

Financial Reporting (F7) is a critical component of the ACCA qualification, focusing on the application and interpretation of accounting standards and the theoretical framework in the preparation of financial statements for various entities, including consolidated groups. This course, led by the Mustafa Mirchawala, offers an unparalleled opportunity to develop a deep understanding and practical skills in the world of financial reporting. 

Read FAQ’s for further details

Exam
Structure

Exam Structure

Section A: of the exam comprises 15 objective test (OT) questions of two marks each, representing 30% of the exam. There are no partial marks for OT questions. OT questions are not always the same as traditional multiple-choice questions (MCQs), although they could take the form of an MCQ. Candidates should ensure that they are familiar with the different styles of OT that may be used. A specimen exam is available on the ACCA Practice Platform and should be accessed via the ACCA website to ensure that candidates are well-practised before the exam.

Section B: of the exam comprises three 10-mark cases. Each case has five OT questions of two marks, representing 30% of the exam. As with Section A, the OT questions could be presented in a variety of different styles.

Section C: of the exam comprises two 20-mark constructed response questions which represents 40% of the exam. These questions are expert marked – all workings and calculations produced in the response options can be viewed by the marker.

Exam Structure

Section A:

of the exam comprises 15 objective test (OT) questions of two marks each, representing 30% of the exam. There are no partial marks for OT questions. OT questions are not always the same as traditional multiple-choice questions (MCQs), although they could take the form of an MCQ. Candidates should ensure that they are familiar with the different styles of OT that may be used. A specimen exam is available on the ACCA Practice Platform and should be accessed via the ACCA website to ensure that candidates are well-practised before the exam.

Section B:

of the exam comprises three 10-mark cases. Each case has five OT questions of two marks, representing 30% of the exam. As with Section A, the OT questions could be presented in a variety of different styles.

Section C:

of the exam comprises two 20-mark constructed response questions which represents 40% of the exam. These questions are expert marked – all workings and calculations produced in the response options can be viewed by the marker.

So, why choose

Sir Mustafa
for your FR journey?

Sir Mustafa’s in-depth lectures, practice tests, self-designed notes, and examiner report breakdowns empower you to pass this exam quite easily. He has a remarkable 80% pass rate & global recognition of his students speak for themselves. He thorough understanding of past papers dissected through online recorded lectures will guarantee your success.

Watch Video

and know the expert introduction of AAA

Why Sir
Mustafa?

Qualification & Achievements

Qualified
ACCA & ICAEW

15 years

of experience

35 Nationwide Positions

by student in all offered exams

14 positions
by his AAA Students

Corporate Experience
of Big 4 & MNC

Selected multiple times for
ACCA’s officials webinars

View Instructor Profile

Position Holders

Testimonials

As a working professional in the Middle East, I found Sir Mustafa's online F7 course to be a perfect fit. His flexible schedule, readily available support, and real-world application examples made learning efficient and engaging. His focus on past papers and examiner reports helped me anticipate exam questions and ultimately achieve a top score in my region. I can't thank him enough!
Rabia
Rabia
Thanks to Sir Mustafa's in-depth lectures and meticulous practice materials, I not only passed F7 with flying colors but also secured the nationwide top rank in Pakistan! His clear explanations, personalized guidance, and constant support made the journey smooth and helped me tackle even the most challenging concepts. I highly recommend him to anyone aiming for F7 excellence.
Saud Tariq
Saud Tariq
Sir Mustafa's F7 course proved invaluable in my journey to become the F7 topper in Ireland. His engaging teaching style, comprehensive notes, and insightful exam tips kept me motivated and equipped me with the knowledge and confidence to excel. His dedication to his students is truly remarkable, and I am incredibly grateful for his guidance
Qamar Khan
Qamar Khan
Despite being from Nepal, where access to quality ACCA resources is limited, Sir Mustafa's course bridged the gap. His accessible online platform, affordable fees, and internationally relevant approach made F7 preparation achievable for me. His detailed analysis of past papers and mock exams was crucial in understanding examiner expectations, and I am proud to say I passed F7 with a great score thanks to his guidance.
Deepak Dhami
Deepak Dhami
Demo Lectures

Students are invited to join a special demo lecture on ACCA F7 financial reporting with Mustafa Mirchawala This session will give you a sneak peek into the world of international financial reporting standards, ratio interpretation and consolidation. You’ll learn about things impairment, property valuation, IAS and multiple other concepts in a way that’s easy to understand through Mustafa Mirchawala’s unique teaching style.

Select Lecture Language
Course Orientation
by Mustafa Mirchawala
Watch Lecture
Course Orientation
by Mustafa Mirchawala
Watch Lecture

Lectures

Demo Lectures

Students are invited to join a special demo lecture on ACCA F7 financial reporting with Mustafa Mirchawala This session will give you a sneak peek into the world of international financial reporting standards, ratio interpretation and consolidation. You’ll learn about things impairment, property valuation, IAS and multiple other concepts in a way that’s easy to understand through Mustafa Mirchawala’s unique teaching style.

Select Lecture Language
Course Orientation
by Mustafa Mirchawala
Watch Lecture
Course Orientation
by Mustafa Mirchawala
Watch Lecture

Lectures

Stay ahead in the Exams with Mirchawala's specialized LMS.
MHA-LMS

Our Specialised LMS provides student with the course in well structured manner which ensure effective and efficient study. Customized Testing system in our LMS helps a student to have actual exam experience while attempting homeworks and Mock Exams.

To discover further key features of our LMS, including Access to recorded lectures library, specialized testing system, access to course attachments and comprehensive progress reports, watch our tutorial video.

Watch LMS Walkthrough

Seamless
Streaming

Access to video
lectures library

resource
libraries

testing
system

Supports Windows,
iiOS, android

Stay ahead in the world of finance with Mirchawala's innovative LMS.
MHA-LMS
Welcome to Mirchawala’s cutting-edge Learning Management System (LMS), the heartbeat of your accountancy journey! Our LMS is a dynamic platform tailored for seamless learning, offering real-time progress tracking, interactive modules, and collaborative study tools.

To discover the key features of our LMS, including personalized study plans, live webinars, resource libraries, discussion forums, and comprehensive progress reports!”

Watch LMS Walkthrough

personalized
study plans

Comprehensive
Recorded Lectures

resource
libraries

discussion
forums

Queries with
Instructor

personalized
study plans

Comprehensive
Recorded Lectures

resource
libraries

discussion
forums

Queries with
Instructor

Course Outline
The conceptual and regulatory
  • Framework for financial reporting
  • The need for a conceptual framework and the characteristics of useful information
  • Recognition and measurement
  • Regulatory Framework
  • The concepts and principles of groups and consolidated financial statements
  • Tangible non-current assets
  • Intangible assets
  • Impairment of assets
  • Inventories and agriculture
  • Financial instruments
  • Leasing
  • Provisions and events after the reporting period
  • Taxation
  • Reporting financial performance
  • Revenue
  • Government grants
  • Foreign currency transactions
  • Limitations of financial statements
  • Calculation and interpretation of accounting ratios and trends to address users’ and stakeholders’ needs
  • Limitations of interpretation techniques
  • Not-for-profit, and public sector entities
  • Preparation of single entity financial statements
  • Preparation of consolidated financial statements for a simple group
  • Use computer technology to efficiently access and manipulate relevant information.
  • Work on relevant response options, using available functions and technology, as would be required in the workplace.
  • Navigate windows and computer screens to create and amend responses to exam requirements, using the appropriate tools.
  • Present data and information effectively, using the appropriate tools.
Course Outline
The conceptual and regulatory
  • Framework for financial reporting
  • The need for a conceptual framework and the characteristics of useful information
  • Recognition and measurement
  • Regulatory Framework
  • The concepts and principles of groups and consolidated financial statements
  • Tangible non-current assets
  • Intangible assets
  • Impairment of assets
  • Inventories and agriculture
  • Financial instruments
  • Leasing
  • Provisions and events after the reporting period
  • Taxation
  • Reporting financial performance
  • Revenue
  • Government grants
  • Foreign currency transactions
  • Limitations of financial statements
  • Calculation and interpretation of accounting ratios and trends to address users’ and stakeholders’ needs
  • Limitations of interpretation techniques
  • Not-for-profit, and public sector entities
  • Preparation of single entity financial statements
  • Preparation of consolidated financial statements for a simple group
  • Use computer technology to efficiently access and manipulate relevant information.
  • Work on relevant response options, using available functions and technology, as would be required in the workplace.
  • Navigate windows and computer screens to create and amend responses to exam requirements, using the appropriate tools.
  • Present data and information effectively, using the appropriate tools.

Course Outline

Free Resources for FR by Tutor
Here are some videos & study material for FR

Free
Resources

Frequently Asked Questions
What is ACCA financial reporting?
  • Financial Reporting (F7) is a critical component of the ACCA qualification, it is a skill level paper of ACCA.
  • It is the easiest paper comparatively among all the other skill level paper of ACCA.
  • Before starting their skills level, most students had already given F3 which creates basics for financial reporting F7 paper, that’s why they prefer to commence their journey with F7 paper, since it is an easy paper with high passing ratio, scoring good marks in this paper boost up the confidence of students .
  • Practice practice practice.
  • Also it is recommended by sir Mustafa Mirchawala to read book with consistency especially the international accounting standards .
  • It is important that a candidate sitting the Financial Reporting (FR) exam has a good grasp of theoretical elements of the course as well as being able to prepare calculations, make accounting adjustments and prepare financial statements. For example, many of the outcomes in the study guide begin with ‘explain’ or ‘describe’ or ‘discuss’.
  • It will differ from question to question but the marking guide is generally weighted towards commentary that makes use of calculated ratios and the scenario details written by the examiner.Candidates are encouraged to look at the marking guides for past exams where this point is illustrated.
Frequently Asked Questions
What is ACCA financial reporting?
  • Financial Reporting (F7) is a critical component of the ACCA qualification, it is a skill level paper of ACCA.
  • It is the easiest paper comparatively among all the other skill level paper of ACCA.
  • Before starting their skills level, most students had already given F3 which creates basics for financial reporting F7 paper, that’s why they prefer to commence their journey with F7 paper, since it is an easy paper with high passing ratio, scoring good marks in this paper boost up the confidence of students .
  • Practice practice practice.
  • Also it is recommended by sir Mustafa Mirchawala to read book with consistency especially the international accounting standards .
  • It is important that a candidate sitting the Financial Reporting (FR) exam has a good grasp of theoretical elements of the course as well as being able to prepare calculations, make accounting adjustments and prepare financial statements. For example, many of the outcomes in the study guide begin with ‘explain’ or ‘describe’ or ‘discuss’.
  • It will differ from question to question but the marking guide is generally weighted towards commentary that makes use of calculated ratios and the scenario details written by the examiner.Candidates are encouraged to look at the marking guides for past exams where this point is illustrated.
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Please select the Language
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