The ACCA Financial Reporting (FR) exam has three sections: Section A (15 objective test questions), Section B (three scenarios with five questions each), and Section C (two long-form questions worth 20 marks each). Section A tests knowledge across many small topics, Section B focuses on applying knowledge in scenarios, and Section C requires detailed calculations and written discussion, often involving consolidation. The exam is computer-based, so knowing how to use the platform effectively is just as important as knowing the syllabus.
The FR exam has three parts, with different types of questions and marks:
Section A is made up of 15 objective test (OT) questions. These are short questions that cover a wide range of the syllabus.
These questions often test quick knowledge. Practice doing them without hesitation. Do not spend too long on one question, as all of them are worth only 2 marks. Use the flagging tool to come back later.
Section B contains three scenarios. Each one has a short story about a company or a situation, followed by five objective questions (2 marks each)
For example, you might be asked to calculate a figure for a financial statement, interpret a ratio, or judge whether something meets the definition of a discontinued operation.
Many students rush through the scenario. Remember, all the information you need is in the text, but sometimes you need to scroll down to see everything. Missing part of the case is a very common mistake.
Section C is the most important part of the exam. It has two long-form questions worth 20 marks each. These usually involve:
Here, you may see questions on:
You need to show your workings step by step. Do not just write the final number. A good model answer looks like a list: goodwill, net assets, adjustments, final figure.
Leave enough space when entering numbers in the spreadsheet. You cannot insert new lines later. Plan your layout before you start typing.
The FR exam is computer-based. This means you must be comfortable using the exam software. Some key points:
Think of the exam as a 3-hour (180 minutes) journey. Here’s a simple plan:
📌 Quick Stat Box
From years of teaching students for this exam, here are some golden rules:
The ACCA FR exam is challenging, but very manageable if you know the structure and practice on the computer platform. Sections A and B test your speed and understanding, while Section C tests your ability to apply accounting in real detail. Focus on time management, clear workings, and exam technique, and you will greatly improve your chances of success.
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