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EXAMINER’S APPROACH: F 3, F FA Financial Accounting

EXAMINER’S APPROACH: F 3, F FA Financial Accounting. WHERE THE PAPER FITS?. Advanced Diploma in Accounting and Business (6 papers + Professional ethics module) (ACCA Fundamentals Skills Module – 6 exam papers only). Diploma in Accounting and Business (3 papers below + FiP).

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EXAMINER’S APPROACH: F 3, F FA Financial Accounting

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  1. EXAMINER’S APPROACH: F3,FFA Financial Accounting

  2. WHERE THE PAPER FITS?

  3. Advanced Diploma in Accounting and Business (6 papers + Professional ethics module) (ACCA Fundamentals Skills Module – 6 exam papers only) Diploma in Accounting and Business (3 papers below + FiP) (ACCA Fundamentals Knowledge module – 3 exam papers only) F1 Accountant in Business (FAB) F2 Management Accounting (FMA) F3 Financial Accounting (FFA)

  4. LINKS TO OTHER PARTS OF THE QUALIFICATION?

  5. F7 P2 PER

  6. OVERALL CONCEPT?

  7. Principles and concepts Technical proficiency

  8. BROAD THEMES?

  9. Context and purpose of financial reporting Basic consolidations and interpretation Preparing basic financial statements Double entry bookkeeping Recording transactions

  10. F3 CONTENT

  11. Section A Section B Section C

  12. Section D Sections E and F Section G Section H

  13. EXAM STRUCTURE?

  14. 2 hours

  15. 50 two mark All compulsory

  16. Guessing? On demand? Choice? Time allocation?

  17. EXAM TIPS

  18. Key strategy Key areas

  19. Tip1- Background! Tip2 - Breadth! Tip3 - Practice!

  20. EXAM PITFALLS

  21. Pitfall1 - Unprepared! Pitfall2 - Rushing! Pitfall 3 - Unanswered questions!

  22. Examiners’ reports Common problems

  23. TO CONCLUDE

  24. Read! Apply! Move on!

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