Association of Chartered Certified Accountants · Applied Skills
ACCA FR Financial Reporting: mock exams and practice questions
183 original exam-style questions for ACCA FR Financial Reporting, with full timed mock exams in the real format and an explanation for every answer. Free for everyone until 31 January 2027.
- 183practice questions
- 23syllabus areas
- 3 hoursfull mock, like the real exam
ACCA FR exam format
3 hours, computer-based. The pass mark is 50%.
| Section | Format | Marks |
|---|---|---|
| A | 15 objective test questions × 2 marks | 30 |
| B | 3 OT cases × 5 questions × 2 marks | 30 |
| C | 2 constructed-response questions × 20 marks | 40 |
| Total | 100 |
Syllabus areas covered
- Conceptual Framework10 questions
- PPE (IAS 16)11 questions
- Intangibles (IAS 38)14 questions
- Government grants (IAS 20)4 questions
- Investment property (IAS 40)3 questions
- Borrowing costs (IAS 23)1 question
- Impairment (IAS 36)8 questions
- Revenue (IFRS 15)14 questions
- Inventory & agriculture (IAS 2, IAS 41)14 questions
- Provisions (IAS 37)10 questions
- Events after reporting (IAS 10)2 questions
- Taxation (IAS 12)5 questions
- Leases (IFRS 16)13 questions
- Financial instruments7 questions
- Held for sale (IFRS 5)3 questions
- Foreign currency (IAS 21)4 questions
- Policies & estimates (IAS 8)4 questions
- EPS (IAS 33)3 questions
- Interpretation & ratios23 questions
- Cash flows (IAS 7)7 questions
- Single entity statements3 questions
- Consolidation15 questions
- Associates (IAS 28)5 questions
Try 3 free ACCA FR questions
Real Fincora questions, with the full explanation. Sign up free for the full bank and timed mocks.
Sample question 1 · Conceptual Framework
Which of the following is a fundamental qualitative characteristic of useful financial information according to the IASB's Conceptual Framework for Financial Reporting?
- A Relevance
- B Comparability
- C Verifiability
- D Timeliness
Show the answer
Answer: A. The two fundamental qualitative characteristics are relevance and faithful representation. Comparability, verifiability, timeliness and understandability are enhancing characteristics.
Sample question 2 · PPE (IAS 16)
Which of the following should be capitalised as part of property, plant and equipment?
- A Repainting the outside of a factory
- B Replacing an aircraft engine with a new engine that has a separate useful life
- C The annual service of a production machine
- D Repairing a damaged roof to its original condition
Show the answer
Answer: B. Replacing a significant component with its own useful life is capitalised and the old component is derecognised. Day-to-day servicing, repairs and redecoration are expensed.
Sample question 3 · Intangibles (IAS 38)
Which of the following can be recognised as an intangible asset under IAS 38?
- A A customer list purchased from another company
- B Start-up costs of a new branch
- C The cost of training staff
- D An internally generated brand
Show the answer
Answer: A. A separately purchased customer list is identifiable and its cost can be measured reliably. IAS 38 specifically prohibits recognising internally generated brands, training costs and start-up costs.
Practise ACCA FR the way you'll sit it
Timed mocks, a question navigator and flags, then your score by syllabus area so you know what to revise next.