The ACCA Financial Reporting (FR) Syllabus 2021 includes:

A) The conceptual and regulatory framework for financial reporting

• The need for a conceptual framework and the characteristics of useful information
• Recognition and measurement
• Regulatory framework
• The concepts and principles of groups and consolidated financial statements

B) Accounting for transactions in financial statements

• Tangible non-current assets
• Intangible assets
• Impairment of assets
• Inventory and biological assets
• Financial instruments
• Leasing
• Provisions and events after the reporting period
• Taxation
• Reporting financial performance
• Revenue
• Government grants
• Foreign currency transactions

C) Analysing and interpreting the financial statements of single entities and groups

• Limitations of financial statements
• Calculation and interpretation of accounting ratios and trends to address users’ and stakeholders’ needs
• Limitations of interpretation techniques
• Specialised, not-for-profit, and public sector entities

D) Preparation of financial statements

• Preparation of single entity financial statements
• Preparation of consolidatied financial statements including an associate