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I am planning to take F7 and F8 in december 2014, I studied F3 in 2008 and after that I couldn’t continue studies due to personal reasons. Now I have to study, I have pretty much forgotten what I had studied in F3 and as F3 knowledge is required in F7 and F8 do I need to study F3 first and then prepare for F7 and F8? if so which topics should I study please guide me! Please I need your help!
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F7 can be done without F3. I received exemptions into level 2 without a vast background in accounting prior to that. I acquired F3 materials thinking I would be at a disadvantage having not completed that paper, however I did not have time to refer back to F3 notes during that semester. Needless to say, I passed F7 on the first attempt, along with F6, 8 and 9 in the same sitting. Therefore, it can be done. There are a lot of horror stories about F7 but it is a very reasonable paper once you put in the work. Structure your study and pay specific attention to consolidated financials, cash flow statements, financial ratios and IAS/IFRS standards. You should be fine!
Kor, Dirkalish ir right, F7 is doable without F3. But a quick revision of F3 will make it eminently more doable. You will probably (hopefully) be very pleasantly surprised about how quickly it all comes back to you.
Dirkalish talks about not having time to go through his F3 material and, in the same breath, talks about passing 4 exams in 1 sitting!
Get the F3 material, free from this site, and quickly work through it. Trust me, it will make F7 that much easier
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