1Course Overview

ACCA Financial Reporting Module - ACCA FR F7

Course code: EXP007

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Work towards your ACCA qualification and membership with this Financial Reporting module.

Read our guide to the ACCA course and modules here.

This module is one of 13 you will need to complete in order to fully qualify as an ACCA member. It is part of ACCA Fundamentals - Applied Skills, which consists of 6 modules overall. Students who complete the Applied Skills section of the overall course along with the Applied Knowledge modules and Ethics and Professional Skills module will achieve an ACCA Advanced Diploma in Accounting and Business.

The ACCA Qualification has a strong focus on professional values, ethics and governance. These are skills which are considered to be essential for today’s accountants, as the accountancy profession generally moves towards an increased focus on professionalism and ethics.

ACCA membership is for those accountants who:

  • Want to work anywhere in the world - ACCA has a worldwide reputation for excellence and their rigorous qualifications are recognised and respected across the globe. When you join them, you become part of our diverse body of more than 208,000 members and 503,000 students in 179 countries.
  • Want to stand out to the best employers - employers across the globe seek out ACCA-trained professionals – because they know they have the strategic thinking, technical skills and professional values to drive their organisations forward. ACCA work with more than 7,400 Approved Employers and 80 accountancy partnerships worldwide – and connect their members with thousands of vacancies through the ACCA Careers Job Board.
  • Want the support they need to succeed - the ACCA dedicated, 24-hour support service is available to answer questions or give advice. ACCA also provides its members with free, dedicated resources and materials through their website.  
  • Want to join a global network - meet valuable contacts at networking events and chat to fellow students on the ACCA virtual learning community. Member will join a network of over 200,000 like-minded finance professionals across the globe.
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2Course Content

The Financial Reporting module covers the following subjects:

  • The conceptual and regulatory framework for financial reporting
  • Accounting for transactions in financial statements
  • Analysing and interpreting the financial statements of single entities and groups
  • Preparation of financial statements
3Other Information

You will need to sit an exam at the end of the module in order to achieve a pass towards your overall qualification. Exams are not included in the cost of this module. You will need to book your exams directly with ACCA.

Course Duration

You will need to complete a total of 13 modules in order to pass your overall ACCA qualifications. Deadlines are set by ACCA according to their timetables. Please contact us for more information.

Study Method

This course is offered on a distance learning basis, with access to required study materials and unlimited support from your personal tutor via email. Study at your own pace, wherever and whenever you choose.

Course Outcome

At the end of this module successful learners will receive a pass in the Financial Reporting module. This pass will count towards your overall ACCA membership.

Students who complete all 6 modules in the Applied Skills section of the overall course (this module, plus Corporate and Business Law, Performance Management, Taxation, Audit and Assurance and Financial Management) along with the Applied Knowledge modules and Ethics and Professional Skills module will achieve an ACCA Advanced Diploma in Accounting and Business.

The ACCA (Association of Chartered Certified Accountants) is a global body for professional accountants. It is currently the world’s largest accountancy body, with nearly 700,000 members and students in 180 countries.

With a network of 83 offices and active centres around the world, the ACCA also have 57 global accountancy partnerships. Within Europe they are a recognised supervisory body for the purposes of licensing auditors and finance professionals in the European Union.


Your Questions Answered

What are the entry requirements for this course?

You must already have to have either of the following in order to take this course:

- Completed the ACCA Applied Knowledge exams

- Achieved ACCA Diploma in accounting and Business (RQF Level 4)

- Relevant accounting or finance degree level qualification

Please note: It is your responsibility (as the student) to check the entry requirements for your course with ACCA Directly.

Proof of these qualifications will should be provided when registering with ACCA as a student.

What practical experience is needed to achieve the full qualification?

Students will need to complete work experience to pass their full ACCA qualification. They will need to complete 36 months’ supervised experience in a relevant accounting or finance role. This work will need to be supervised and signed off by a practical experience supervisor.  https://www.accaglobal.com/uk/en/student/practical-experience/36-months-practical-experience.html

I've already got a degree or qualification in accounting - do I still have to complete all modules and exams?

There may be exemptions depedning on what qualifications you already have. 

To find out if you are eligible to claim for an exemption use the ACCA exemptions calculator that can be found here:


Students will be required to pay a fee for each exam exemption, and these can only be awarded by ACCA directly. Students will therefore need to check this before commencing their studies.

Is there a deadline for the completion of this module?

Deadlines are set by ACCA according to their timetables. Please contact us for more information.

What is included in the cost of my course?
  • Complete tuition stage video tutorials covering the entire syllabus
  • Complete practice stage video tutorials covering exam standard questions to ensure you are 100% ready for your exam
  • Focussed energisers and webinars to keep you on track for exam success
  • Learning reinforcement exercises for you to track how well you are doing
  • Exam simulation matching the ACCA format (both paper and CBE style)
  • Your own unique personalised study plan
  • Online learning platform
  • Personal tutor support
  • Dedicated student support
  • FREE CV writing service
Are there any additional costs?

Exams are not included in the cost of this course. You will need to book and pay for your exams

What if I still have questions?

That’s not a problem. We want to make sure you’re 100% confident about enrolling on the course and starting your study. So, just give our Student Support Team a call on 03300 563 100 and they’ll do their best to help.

Finance options

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The total course fee includes a loan arrangement fee. Your initial deposit payment will be used towards this fee, any remaining fee balance will be added the loan amount.

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Our finance option is provided in partnership with AffordItNow.
For your finance application to be considered you must meet the following criteria:

  • Be over 18 years old
  • Be employed for at least 16 hours a week or retired and in receipt of a private or company pension. Certain state benefit schemes may also be considered.
  • Be a permanent UK resident with a 3 year address history
  • Have a good credit history with no late payments, debt relief orders or bankruptcies
  • Have a valid email address and can access it

Please note that meeting the above criteria does not guarantee finance acceptance.

Open Study College, 6140 Knights Court, Birmingham Business Park, Birmingham B37 7WY is a licensed credit broker, authorised and regulated by The Financial Conduct Authority (licence number 724179 with FCA).