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HI
I HAVE JUST COMPLETED F3, N THUS THE END OF FIA. I ONLY HAVE A CHOICE OF PICKING UP ONE PAPER FOR MY JUNE EXAMS DUE TO MY DELIVERY IN MAY 23RD, MY QUESTION IS, SINCE I HAVE JUST COMPLETED THE FINANCIAL ACCOUNTING AND ALL MY KNOWLEDGE N UNDERSTANDING ABOUT THE KEY AREAS OF THIS SUBJECT IS FRESH, SO CAN I CHOOSE FINANCIAL REPORTING F7 FOR MY NEXT PAPER AS MAJORITY OF ITS KEY AREAS ARE THE ADVANCED FORM OF F3?KINDLY ADVICE WITH EXPERIENCE.
Hi/Salam,
First to tell you that F7 is not wholly F3, it does share some basics and Requires Core Concepts of F3 but in reality it has many different topics, you can start from F7 and If you have atleast a sound knowledge of Double Entry,Deprecation, Amortisation (which are also in F7) then you are quite ready to go, otherwise it is very different from F3 and has some complex topics like Tax Accounting, Government Grants, Consolidation e.t.c……
Secondly If you have a choice of one paper only I advice you to choose between F5 or F7 because these papers requires a lot of time and practice, and contains very logical concepts which may take some serious time. Like F7, you can call F5 a Successor of F2 and contains many topics of F2 which are advanced in it (F5). Since you will pick just one paper, I advice you to choose the most difficult one because you can then only focus on one paper and there is alot of time in which you can master yourself in difficult areas. IF you found Management Accounting (F2) more difficult then go with F5 and if you were struggling more in Financial Accounting (F3) then go with F7. Choice is yours
Hammad
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