F7财务报告

考试框架

Section A–15道主观测试题，每题2分。

Section B–3道主观测试题，每道含有一个案例和5道每题2分的主观测试题。

Section C-2道大题，每题20分，一题考察财报的编制，另一题考察财报的解释。

Meet the new examiner

新的考官，大约一年前取代Steve Scott的，他非常鼓励学生可以爱上IFRSs！他说ACCA考生需要能够可以谈论F7的27条准则的关键部分，Section A的考题几乎可以覆盖整个考纲的内容。

谈到Section C，他透露他出的考题可能是单个公司的财务报表，也可能是合并公司报表，单独公司报表的话，可能会出关于损益表的一些调节，或者是损益表的一部分内容，而不是考单独的一个准则，现金流量表的一些知识点也会考察，如果是合并报表的话，会要求写出整个详细的损益表或资产负债表，通常情况下，不会让考生同时写出两张合并报表，考生还要注意的是，在这部分的大题，会有要讨论的也就是文字的部分。

考官强调，Section C两道大题要求解释报表的那道题目通常都不是答的很好，如果是单个公司财报的话，通常在计算ratios前，会让你重新计算和调整报表中的一些数字，如果仅仅只是写出大概的报表的话，通常不会得到很好的分数。

考官指出，对于合并报表的分析的话，主要集中在集团内部之间的一些问题。

考官还透露，三个部分的考题都要做到，这会有助于提高通过的几率，而且现在问题的完成度已经比过去好了很多。

Problem areas

考官强调，Section A和Section B的题目通常会包括一些‘干扰选项’，所以考生在答题的时候还是要花费一些时间的，考生做题时比较为难和挣扎的地方是，对于一些损益表科目的调整，和年中兼并公司要做合并报表时的时间划分。

考生确实需要提高他们的解释报表的技巧，考官强调教科书中的答案有参考价值但是也有局限性–你还是需要利用题目给出的信息来构建你的答案。

机考的考生任然需要展示他们ratios计算的整个过程，因为考官要知道你的答案是从哪里来的。

Looking ahead

从2017年九月开始，IFRS 16 Leases会取代IAS 17，对于lease liabilities的计算还是比较类似的，而且对于low-value/short-term leases不需要计算lease liabilities了，考官也承认F7中不会考一整道现金流量表的大题。

EXAM TIPS

强调：

我们发布本ACCA exam tips不是用来给你押题的，是汇总本次F7考试的重要关键信息。文中有部分知识点的整理，更重要的是考试答题技巧的汇总，以及考前准备。押题复习不可取，大家借助本文参考资深考官给出的考试答题技巧更加重要。备考的你一定要全面复习，方可战胜ACCA这个小贱人！

Kaplan

MCQ’s can come from any syllabus area.

Consolidation of Financial Statements

For the consolidation question you will benefit from having the proforma/standard workings of your final answer set up first.For example if the question requires a consolidated SFP then drawing up the SFP with open brackets beside those numbers that do not need a standard working can get all the easy adding across 100%of the Parent and subsidiary figures.The other headings can have the standard working number written beside them instead.A couple of lines would need to be left for each section of the SFP in case other things come up in the additional information.

In addition to this setting up the standard workings can also be done.The subsidiaries’share capital figures and the year end retained earnings can be put into these without reading any of the additional information.In addition to this the parents retained earnings figure can also be put into W5（Retained earnings）without reading any additional narrative.

With all of the proformas and standard workings set up,it means that you are able to tackle the issues in the order that they are presented in the question.It also allows you to deal with both sides of any adjustments as everywhere is set up to make the adjustments.It hopefully prevents non-balancing accounts and means that each issue only has to be addressed once;thus helping with time management.Also if you run out of time,you will get full credit for all that you have already done provided everything is referenced through.

A similar process can be applied to the income statement equivalent of setting up final answer and workings to help tackle the issues that come up.

Single Company Financial Statements

As with the groups question,it may be possible to get the proforma of the final answer set up,particularly if the data in the question is set up with the draft financial statements rather than the trial balance.If possible it then means that open brackets can be used and the draft figures placed in them,ready for adjustments as they arise.Generally speaking there are often more adjustments required for cost of sales figure in the income statement and the PPE figure in the SFP.As such I would suggest these are likely to need separate workings rather than just a bracket beside the final answer.

If there is a topic/adjustment that you are unsure of,come back to it.You are better to get the adjustments that you are comfortable with done first.It is easy to get bogged down and waste time on a difficult adjustment at the expense of doing an easier one that appears later in the question.

Performance Appraisal

With a performance appraisal question you may be asked to calculate ratios or prepare a statement of cash flow or both.When calculating ratios,if you are unsure of a particular calculation always have a go,as even if the calculation is incorrect you will be awarded merit for your discussion of the incorrect number in the written section of the question.It also really helps the marker if you note your formula down so that your working is clearly identified.

When preparing a statement of cash flow setup you proforma immediately and begin to get the easy marks in the cash flow such as finding the movement in the cash and cash equivalent balance,and finding the movements on basic shares and loans.You will also find the operating activities section familiar and useful for scoring marks.If there are any cash items that you are unfamiliar with come back to these at the end after you have dealt with the items that you can do.

Finally,when appraising the performance of a company ensure that you always refer to the scenario provided to ensure maximum credit is awarded.

LSBF

For the 60 marks of MCQs in section A&B,the entire syllabus must be covered,including the more obscure standards（recent questions have covered R&D,government grants,borrowing costs,investment properties,etc）。Also important are depreciation and revaluation,deferred tax,associates,effect of company payment policies,etc on working capital ratios.Watch out also for objective test questions,ie where no alternative answers are given to guide you,usually in numerical questions.

For Section C:Ratios&interpretation,including adjustments to be made before comparison to last year or a different company;published accounts with standards,including cash flow aspects;consolidations.

BPP

Section A–a wide range of topics including several on consolidation and interpretation of financial statements.And expect a few questions on no—core areas such as inflation,&specialised entities.

Section B–scenario will usually consist of two/three calculations and two/three narratives.The questions are not dependent on each other and can be answered in any order.

Longer questions–two 20 mark questions,one covering interpretations and the other preparation of financial statements.

One question likely to be in context of a single company and one in the context of a group,so you could have a single company interpretation and a groups preparation or vice versa.

An accounts prep question may include extracts or stand alone calculations or full statements of profit or loss and other comprehensive income and/or statement of financial position.

Both questions will cover the accounting for items from other areas of the syllabus.

May include a short separate part,eg with a statement of changes in equity,statement of cash flows extract,earnings per share calculation or linked written topic.

A consolidation question would include one subsidiary and often an associate,with adjustments,eg fair values,deferred/contingent consideration,PUP on inventories/PPE,interagroup trading and balances,goods/cash in transit.

A single entity question could be preparation from a trial balance or restatement of given financial statements with the usual adjustments for depreciation,revaluation and current/deferred tax（including deferred tax on revaluations）plus a mixture of adjustments on other syllabus area,eg leases,substance over form issues,financial instruments（change in fair value or amortised cost），share issues,government grants,inventory valuation,revenue recognition ort construction contracts.

Interpretation questions are unlikely to be straightforward and you should be prepared to analyse a group or a single company with a significant change in the year.

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