Examiner’s Report            FR 

  • Overview: FR develops knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements. It requires a strong understanding of IFRS and financial statement preparation.

  • Exam Format: A 3-hour and 15-minute computer-based exam with:

    • Section A: 15 multiple-choice questions (2 marks each).

    • Section B: Three 10-mark questions on specific financial reporting areas.

    • Section C: Two 20-mark constructed response questions involving preparation and analysis of financial statements.

  • Pass Rate: 50% (December 2024) Accountancy Age

  • Key Insights: FR requires not only technical knowledge but also the ability to apply accounting standards in practical scenarios. Regular practice and a thorough understanding of IFRS are key to success.

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