Exam Name: Financial Reporting
Certification Provider: CPA
Corresponding Certification: Certified Public Accountant
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Instant Download CPA : FR Questions & Answers as PDF & Test Engine
Updated: Sep 12, 2026
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- Total Questions: 80
- Updated on: Sep 12, 2026
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- Total Questions: 80
- Updated on: Sep 12, 2026
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- Total Questions: 80
- Updated on: Sep 12, 2026
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CPA FR Exam Overview:
| Certification Vendor: | ACCA |
|---|---|
| Exam Name: | ACCA Financial Reporting (FR) Exam |
| Exam Number: | FR (Financial Reporting) |
| Real Exam Qty: | Variable (Section A OTQ + Section B multi-part constructed response questions) |
| Available Languages: | English |
| Certificate Validity Period: | Does not expire as part of ACCA qualification progression |
| Exam Format: | Computer-based exam (CBE), Objective test questions (OTQ), Constructed response questions |
| Exam Price: | Varies by country and exam entry period (typically £100–£200 equivalent) |
| Exam Duration: | 180 minutes |
| Passing Score: | 50% |
| Related Certifications: | ACCA Applied Skills Strategic Business Reporting (SBR) Financial Accounting (FA) ACCA Applied Knowledge |
| Recommended Training: | ACCA Study Hub ACCA Approved Learning Providers |
| Exam Registration: | ACCA Exams Booking ACCA Official Registration |
| Sample Questions: | DOWNLOAD DEMO |
| Exam Way: | Computer-based exam delivered at approved ACCA exam centers or remote CBEs where available |
| Pre Condition: | Recommended: ACCA Financial Accounting (FA) or equivalent basic accounting knowledge |
| Official Syllabus URL: | https://www.accaglobal.com |
CPA FR Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Analysis and Interpretation | - Financial statement analysis
|
| Topic 2: Financial Statements Preparation | - Preparation of financial statements
|
| Topic 3: Group Financial Statements | - Consolidation
|
| Topic 4: International Financial Reporting Standards (IFRS) | - IAS/IFRS Application
|
| Topic 5: Financial Reporting Framework | - Conceptual Framework for Financial Reporting
|
CPA Financial Reporting: Frequently Asked Questions
The FR exam leads to the ACCA Qualification certification from ACCA. It is positioned at the Professional level. The exam validates the knowledge and skills expected of candidates preparing for CPA Financial Reporting.
Related certifications include:
- ACCA Applied Knowledge
- ACCA Applied Skills
- Financial Accounting (FA)
- Strategic Business Reporting (SBR)
The FR exam includes Variable (Section A OTQ + Section B multi-part constructed response questions) questions and allows 180 minutes. Before test day, divide the available time by the number of questions in a timed practice set to establish a steady per-question pace. If a difficult item starts consuming too much time, mark it for review and move forward instead of losing momentum. A full timed practice session can help you decide when to move on, when to return, and how much buffer to reserve for a final check.
The passing score for FR is 50%, and the official exam fee is Varies by country and exam entry period (typically £100–£200 equivalent). Because a retake requires paying the exam fee again, use timed practice results as a readiness check before scheduling your next attempt. If your performance remains inconsistent, continue reviewing weak domains and repeat a timed session before booking the exam.
Recommended: ACCA Financial Accounting (FA) or equivalent basic accounting knowledge
Eligibility rules can change, so confirm the current requirements on the official exam page before registering.
You can register through the official channels listed below:
The available exam delivery method is Computer-based exam delivered at approved ACCA exam centers or remote CBEs where available.
The official training options include:
After reviewing the recommended training, reinforce what you learned with Actual4dump's 80 practice questions for FR.
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If you purchase the corresponding FR preparation material and do not pass that exam within 60 days of purchase, you may apply for a full refund under the 100% Money Back Guarantee. The request requires a scanned exam enrollment slip and the official Score Report PDF, submitted within two days after the exam. Eligible requests are processed within seven days.
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The current FR outline is organized into 5 top-level domains. The first listed areas include:
- Financial Reporting Framework
- Financial Statements Preparation
- International Financial Reporting Standards (IFRS)
Review the Exam Topics section above for the complete outline and any nested subtopics.
CPA Financial Reporting Sample Questions:
IAS 19 is intended to prescribe when the cost of employee benefits should berecognizedas a liability or an expense and the amount of the liability or expense that should berecognized.
Which of the following statements regarding IAS 19 is correct?
i)A liability should berecognizedwhen an employee has provided a service in exchange for benefits to be received by the employee at some time in the future.
ii)An expense should berecognizedwhen the entity enjoys the economic benefits from a service provided by an employee regardless of when the employee received or will receive the benefits from providing the service.
- A. (i) is incorrect but (ii) is correct
- B. (i) and (ii) both are correct
- C. (i) and (ii) both are incorrect
- D. (i) is correct but (ii) is incorrect
Sparrow plc owns a building, currently carried in its accounting records at $800,000. It has agreed to exchange this building for a building owned by Turner Ltd. The building currently owned by Sparrow plc has a fair value of $1 million. The building currently owned by Turner Ltd has a fair value of $1.1 million. Sparrow plc has agreed to pay the legal costs of the transfer which amount to $10,000.
According to IAS 16 Property, Plant and Equipment, at what value should the building currently owned by Turner Ltd be recorded initially in Sparrow plc's accounting records?
- A. $990,000
- B. $800,000
- C. $1.1 million
- D. $1 million
Jamal Co buys some goods from SA of France on 30 September (year end is 31 December). The invoice value is EUR40,000 and is due for settlement in equalinstallmentson 30 November and 31 January. The exchange rate moved as follows:
EUR = $1 30-Sep1.60 30-Nov1.80 31-Dec1.90 31-Jan1.85
What are the total exchange gains / (losses) that will be included in the operating profit of Jamal Co for the year ended 31 December 2012?
- A. A gain of $3,078
- B. A gain of $3,363
- C. A gain of $1,389
- D. A loss of $1,689
The aim of IAS 7 is to provide information to users of financial statements about the entity's ability to generate cash and cash equivalents, as well as indicating the cash needs of the entity.
Which one of the following statements gives the best definition of cash equivalents as set out in IAS 7 Statement of Cash Flows?
- A. Cash equivalents are investments which are traded in an active market
- B. Cash equivalents are short-term highly liquid investments subject to insignificant risks of change in value
- C. Cash equivalents are cash, overdrafts, short-term deposits, options and other financial instruments and equities traded in an active market
- D. Cash equivalents are readily disposable investments
Ant plc purchased 80% of Pillar Ltd's ordinary shares on 1 July 2010 for $2,360,000 when the fair value of Corfu Ltd's net assets was $2,240,000.
As at 30 June 2012 Ant plc hadrecognizedimpairments in respect of goodwill arising on the acquisition of Pillar Ltd amounting to $100,000.
On 30 June 2013, Ant plc sold all its shares in Pillar Ltd for $3,600,000. The net assets of Pillar Ltd were $3,310,000 at the date of disposal.
What is the profit on disposal of the shares in Pillar Ltd which should be included in the consolidated income statement of Ant plc for the year ended 30 June 2013?
- A. $384,000
- B. $484,000
- C. $270,000
- D. $952,000
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