FRJournal entries

I'm not quite sure what you're asking - the syllabus doesn't specifically mention "journal entries" - which is a way of recording "debits and credits" - this is the foundation of financial ACCOUNTING (as opposed to financial REPORTING) and is assumed knowledge of Financial Accounting. What is it you don't understand?

For instance: Dr. Current tax Cr. Deferred tax liability Cr. Current tax payables It all seems confusing to me. So I just wanted to know how important is it to understand debit and credit for FR

It depends on whether you are seeing it as someone's explanation of something - or you are seeing it in a published answer to a past Q. If you're seeing it in answer to any of the questions in the practice platform you should really be understanding it. If there is more than one Dr/Cr it means the entries are being summarised. For example: Current tax for the year is 100: Dr Tax expense (P/L) 100 Cr Current tax liability (SoFP) 100 Deferred tax for the year is 200: Dr Tax expense (P/L ..... but could be OCI in the case of revaluation) 200 Cr Deferred tax liability (SoFP) 200 So over journal: Dr Tax expense (P/L) 300 Cr Current tax liability (SoFP) 100 Cr Deferred tax liability (SoFP) 200