Please note:
NEW Financial Reporting September 2018 Exam
We have updated our lectures and notes for the new ACCA Financial Reporting FR Exam – download the latest notes here >>
Note:
These course notes are not meant to replace study texts. To succeed in your exam it is vital to practice as much as possible and so you should buy a current edition of a Revision kit from an ACCA approved publisher – they contain lots of exam standard questions (and answers) to practice on.
Copyright: Selling or profiting in any way from these notes without our permission is prohibited. If you would like to use our course notes in your college, please check our OpenLicense for details.
Sir, I am really sorry to bother you again, after finishing chapter 5 I intend to read the following technical articles:
1) The need for and an understanding of a conceptual framework.
https://www.accaglobal.com/gb/en/student/acca-qual-student-journey/qual-resource/acca-qualification/f7/technical-articles/conceptual-framework-need.html
2) IASB’s Conceptual Framework for Financial Reporting
https://www.accaglobal.com/gb/en/student/acca-qual-student-journey/qual-resource/acca-qualification/f7/technical-articles/iasb-conceptual-framework-financial-reporting.html
The first one I think is a must read right away, but should I read the second article as well right away or maybe at a later point in time to understand it even better?
Please ignore my previous post, I read both 😀
Hi sir, I got a question just to clear my doubts. The above Technical articles I posted, do they both apply only to chapter 1(financial reporting- basic concepts which includes conceptual framework) or do they apply to chapter 2(regulatory framework) as well? Thanks 🙂
Oh Tyler! I do wish you wouldn’t ask such technical questions! All technical articles relate to the F7 exam – they could relate to chapter 1 of the notes or chapter 2 or 3, 4, 5 ……
Technical articles aimed at F7 are relevant to the exam. Please don’t try to pigeon-hole them into Chapter 1, Chapter 2 or whatever..
If it says at the top of the article “Relevant for paper F7” then it’s relevant for F7!
OK?
Yup, sorry about that sir 🙂
Sir,
You said that chapter 1 to 5, we should read by ourself. I’ve started my F7 study today and started to read chapter 1 but on first page there are 5 underlying assumptions. There just mentioned with no definition and below there’s a question which I am not being able to solve as there is no explanation for the 5 underlying assumptions. Can you kindly advise me what to do for chapter 1-5?
Thanks
Hi Tyler
Good point. On the courses that I teach the students are automatically issued with a study text so they are able to read the text for those chapters. As you get more into the notes, you will quickly realize that both the notes and the recorded lectures cover substantially ALL the “important” areas.
From that comment, you may deduce that although you really should read the text for chapters 1- 5, it’s not a deal breaker if you don’t
Incidentally, the.answer to the question in chapter 1 is in the back of the notes and expands on the 5 principles to which you refer.
Ok?
Yes, the answers are at the back. Sir, may I ask what book you use? I could purchase one for myself to use as a reference. Thank you 🙂
Hi again
I really am not willing to claim that any text is better than any other, sorry. Any text from a reputable publisher should be effectively as good as any other. The two household names in the market are BPP and Kaplan but there is. But there is no reason to suppose that any of the other publishers are any better nor any worse.
Sorry not to be more definitive
No problem sir. Thank you for your response. I have already read chapter 1-3 today and got a good grasp of the contents. As for the proformas, I’ll learn them better when I’ll practice lots of questions from past papers.
One thing though, what is meant by reduction of penumbral areas of divergent possibilities? This is the only thing I didn’t understand.
Very Best
Tyler
Tyler, NOBODY DOES! It’s a quote from legal opinion about 25 years ago when the English accountancy bodies asked legal opinion about the role of IAS / IFRS English equivalents in determining “true and fair”
It means “reducing the shady / grey areas where alternative accounting treatments were being used” and the issue of each new standard had the effect of reducing the “divergent possibilities” ie those different, inconsistent treatments. Effectively, each standard ……. standardised
Ok?
Yup got it sir, thanks 🙂
Can any pls tell me why I can not view course notes on my iPad?
Download the pdf and read it in your ibooks. Works like a charm.
will there be any new 2013 videos and course notes for f7,F5 & F4 and when???
you can start now, any new videos are unlikely
F7 notes will be on line in January, f4 & F5 are on line already
Can i use f7 complete text 2012 for 2013………???
@asadrana, You can …….but there are likely to be changes. I presume you are talking about a complete text from a publisher like BPP or Kaplan. There almost certainly will be changes but probably not much / many / major.
You would be better advised to buy a new one but, if money is tight, you can probably get away with a 2012 text – but not older than that
When will June 2013 notes be available?
February
But you can use December 2012 notes until then
where do i find course notes answers
@adeel101990, Have you looked at the back of the course notes? Try looking at page 149 and move on from there
where the downlord option?
i can’t find it..
plz help?
i tried to download the revision notes but after downloadding it doesnot opne in my computer n sars corrupt fiel plz help me as what should i do to open it
turn off download manager, just use your browser to download
@admin, how do I turn off download mgr?
@remyshittu, U cannot download these lectures…………….u constantly need to view them online ONLY…THAT IT!!!
hi niko
those chapters are not discussed in the the watch lecture,
please read directly from the notes
hi there, am wondering where is the chapter1 to 5 for F7.
please anyone has an idea the whereabout.
thanks
@niko123,
try reading it fron the notes
Will there be December 2012 exams notes, or is this it for 2012 and I should go ahead and use June 2012 for my December exam.
@imranshakoor, someone please let us know whether we should go ahead and use these notes for december 12. Thanx
@imranshakoor, These notes are fine for December 2012. Get started NOW,
I have downloaded the studynotes but it doesn’t allow me to print the notes. Any reason why? I need to be able to use them to study with. I dont have a computer or internet available always to access the stuff on. Please help
I solved the problem – exhaustion moment 🙂
All Notes are printable, please use latest version of Adobe reader to open/print pdf files
please tell me r these notes relevant for June 2012
@talhahussainchohan, there is big read title saying june 2012 exams at first page.
I have trying to down load the notes but what came are these comments and notes. Is there a problem
i’m afraid the problem is your own making,
you should click on a link where it says ‘download’
@pvenmwangura, hope you have been able to download now; if not, send your email ad, i will fwd it to you- I jst dowloaded it.
@quzeemfijabi, hi hop u are fine, am having the same problem of downloading F7 too. so please if u can forward to me I will be very grateful. my email address is (or*******@***il.com). Takecare..:)
Are the notes above for December 2011 still relevant to use for June 2012. Can anyone tell me whether they will change at all?
can i pass F7 if i only rely on OpenTuition notes? am not fully prepared i only have one month to go, in addition to this i do work so am a busy man. Also please provide with topics i should concentrate on.
for theory question if i answer the question same way as bullet point as the notes given in open tuition will i get full mark
The standards are the same and they do not change overnight. So the notes are very relevant guy, be contented.
can not download
Un able to download notes.