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Mai Studies Original · Accounting & Finance

ACCA Study Support: Financial Reporting (FR)

A Mai Studies study-support programme written for learners preparing for the ACCA Applied Skills paper Financial Reporting. Every module contains original written notes with worked examples, a tutor-voice classroom transcript, a practical activity with a worked solution, a mock test with explained answers and a marked written assignment. Mai Studies is an independent provider: it is not ACCA, is not an ACCA Approved Learning Partner, and this programme carries no exam credit or exemption. The notes explain general reporting principles for study purposes; no standard text is reproduced.

10 weeks 60 guided hours Intermediate
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No account needed to buy. Pay with your card and we create your student account from the email you enter, with this programme ready inside it for twelve months.

ACCA Study Support: Financial Reporting (FR) course artwork

What you will achieve

  • Explain the conceptual framework and the qualities of useful information
  • Apply the five step approach to recognising revenue
  • Account for tangible and intangible assets, including impairment
  • Account for leases, provisions and contingencies
  • Prepare a basic consolidated statement of financial position and profit or loss
  • Interpret financial statements using ratios and explain their limitations

Entry guidance

  • — Confident with double entry and basic financial statements
  • — Access to a spreadsheet
  • — Around six study hours each week

Original Mai Studies learning material. This is a professional completion programme, not a regulated qualification or university accreditation.

Programme syllabus

6 applied modules

Lessons
6
Assessed tasks
6
Practice questions
120
Timed mock papers
2
01

The conceptual framework and reporting principles

Why the framework exists, the qualities of useful information, and how substance drives recognition.

1 lesson · 20 practice questions · 1 assessed task

  1. 1. What financial statements are for39 min study · 3 learning objectives · practical activity

    The purpose of general purpose financial reporting, the qualities that make information useful, and the elements recognised.

  • Report on the substance of a transaction — marked out of 100, pass at 80%
02

Revenue and contracts with customers

The five step approach, performance obligations, timing of recognition and common practical problems.

1 lesson · 20 practice questions · 1 assessed task

  1. 1. Recognising revenue in the right period38 min study · 3 learning objectives · practical activity

    The five step approach to contracts with customers and the judgements that most often go wrong.

  • Apply the five step revenue model — marked out of 100, pass at 80%
03

Tangible and intangible assets

Initial cost, depreciation and amortisation, revaluation, borrowing costs, development costs and impairment.

1 lesson · 20 practice questions · 1 assessed task

  1. 1. Assets: carrying them at the right amount39 min study · 3 learning objectives · practical activity

    Recognition and measurement of property, plant and equipment and intangibles, and the impairment test.

  • Account for a revaluation and an impairment — marked out of 100, pass at 80%
04

Leases, provisions and contingencies

Right of use assets and lease liabilities, and when an obligation is a provision, a contingency or nothing at all.

1 lesson · 20 practice questions · 1 assessed task

  1. 1. Leases, provisions and contingencies36 min study · 3 learning objectives · practical activity

    Bringing leases onto the statement of financial position, and deciding when an uncertain obligation is recognised.

  • Prepare a lease table and advise on a provision — marked out of 100, pass at 80%
05

Group accounts: the basics of consolidation

Control, goodwill, non-controlling interests, intra-group trading and unrealised profit.

1 lesson · 20 practice questions · 1 assessed task

  1. 1. Consolidation from first principles38 min study · 3 learning objectives · practical activity

    Why groups prepare one set of statements, and how goodwill, non-controlling interests and intra-group items are handled.

  • Prepare consolidation workings — marked out of 100, pass at 80%
06

Interpreting financial statements

Ratio analysis by category, linking ratios to the story behind the numbers, and the limits of comparison.

1 lesson · 20 practice questions · 1 assessed task

  1. 1. Reading the statements properly38 min study · 3 learning objectives · practical activity

    Using ratios to build an explanation of performance and position, and knowing what ratios cannot tell you.

  • Interpret a set of financial statements — marked out of 100, pass at 80%

Timed mock papers

  • ACCA Study Support: Financial Reporting (FR): timed mock paper 1 — 180 minutes, 50 objective questions plus written and computational tasks
  • ACCA Study Support: Financial Reporting (FR): timed mock paper 2 — 180 minutes, 50 objective questions plus written and computational tasks

Lesson pages, assessed tasks and mock papers open the moment you join this programme. Teaching material is studied online; the notes you write are yours to download.

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