2015年ACCA考試大綱發(fā)布，根據(jù)簡章獲悉，2015年ACCA F7 財務(wù)報告考試大綱出現(xiàn)了哪些小變化？針對這些變化，高頓網(wǎng)校小編為您進(jìn)行詳細(xì)解讀分析。
　　? ACCA 2014 All rights reserved.
　　Financial Reporting （F7）
　　December 2014 to June
　　2015
　　This syllabus and study guide is designed to help
　　with planning study and to provide detailed
　　information on what could be assessed in
　　any examination session.
　　THE STRUCTURE OF THE SYLLABUS AND
　　STUDY GUIDE
　　Relational diagram of paper with other papers
　　This diagram shows direct and indirect links
　　between this paper and other papers preceding or
　　following it. Some papers are directly underpinned
　　by other papers such as Advanced Performance
　　Management by Performance Management. These
　　links are shown as solid line arrows. Other papers
　　only have indirect relationships with each other
　　such as links existing between the accounting and
　　auditing papers. The links between these are shown
　　as dotted line arrows. This diagram indicates where
　　you are expected to have underpinning knowledge
　　and where it would be useful to review previous
　　learning before undertaking study.
　　Overall aim of the syllabus
　　This explains briefly the overall objective of the
　　paper and indicates in the broadest sense the
　　capabilities to be developed within the paper.
　　Main capabilities
　　This paper’s aim is broken down into several main
　　capabilities which divide the syllabus and study
　　guide into discrete sections.
　　Relational diagram of the main capabilities
　　This diagram illustrates the flows and links between
　　the main capabilities （sections） of the syllabus and
　　should be used as an aid to planning teaching and
　　learning in a structured way.
　　Syllabus rationale
　　This is a narrative explaining how the syllabus is
　　structured and how the main capabilities are linked.
　　The rationale also explains in further detail what the
　　examination intends to assess and why.
　　Detailed syllabus
　　This shows the breakdown of the main capabilities
　?。╯ections） of the syllabus into subject areas. This is
　　the blueprint for the detailed study guide.
　　Approach to examining the syllabus
　　This section briefly explains the structure of the
　　examination and how it is assessed.
　　Study Guide
　　This is the main document that students, learning
　　and content providers should use as the basis of
　　their studies, instruction and materials.
　　Examinations will be based on the detail of the
　　study guide which comprehensively identifies what
　　could be assessed in any examination session.
　　The study guide is a precise reflection and
　　breakdown of the syllabus. It is divided into sections
　　based on the main capabilities identified in the
　　syllabus. These sections are divided into subject
　　areas which relate to the sub-capabilities included
　　in the detailed syllabus. Subject areas are broken
　　down into sub-headings which describe the detailed
　　outcomes that could be assessed in examinations.
　　These outcomes are described using verbs
　　indicating what exams may require students to
　　demonstrate, and the broad intellectual level at
　　which these may need to be demonstrated
　?。?see intellectual levels below）。
　　INTELLECTUAL LEVELS
　　The syllabus is designed to progressively broaden
　　and deepen the knowledge, skills and professional
　　values demonstrated by the student on their way
　　through the qualification.
　　The specific capabilities within the detailed
　　syllabuses and study guides are assessed at one of
　　three intellectual or cognitive levels:
　　LevelⅠ: Knowledge and comprehension
　　LevelⅡ: Application and analysis
　　? ACCA 2014 All rights reserved.
　　LevelⅢ: Synthesis and *uation
　　Very broadly, these intellectual levels relate to the
　　three cognitive levels at which the Knowledge
　　module, the Skills module and the Professional level
　　are assessed.
　　Each subject area in the detailed study guide
　　included in this document is given a 1, 2, or
　　3 superscript, denoting intellectual level, marked at
　　the end of each relevant line. This gives an
　　indication of the intellectual depth at which an area
　　could be assessed within the examination. However,
　　while level 1 broadly equates with the Knowledge
　　module, level 2 equates to the Skills module and
　　level 3 to the Professional level, some lower level
　　skills can continue to be assessed as the student
　　progresses through each module and level. This
　　reflects that at each stage of study there will be a
　　requirement to broaden, as well as deepen
　　capabilities. It is also possible that occasionally
　　some higher level capabilities may be assessed at
　　lower levels.
　　LEARNING HOURS AND EDUCATION
　　RECOGNITION
　　The ACCA qualification does not prescribe or
　　recommend any particular number of learning hours
　　for examinations because study and learning
　　patterns and styles vary greatly between people and
　　organisations. This also recognises the wide
　　diversity of personal, professional and educational
　　circumstances in which ACCA students find
　　themselves.
　　As a member of the International Federation of
　　Accountants, ACCA seeks to enhance the education
　　recognition of its qualification on both national and
　　international education frameworks, and with
　　educational authorities and partners globally. In
　　doing so, ACCA aims to ensure that its qualifications
　　are recognized and valued by governments,
　　regulatory authorities and employers across all
　　sectors. To this end, ACCA qualifications are
　　currently recognized on the education frameworks in
　　several countries. Please refer to your national
　　education framework regulator for further
　　information.
　　Each syllabus contains between 23 and 35 main
　　subject area headings depending on the nature of
　　the subject and how these areas have been broken
　　down.
　　GUIDE TO EXAM STRUCTURE
　　The structure of examinations varies within and
　　between modules and levels.
　　The Fundamentals level examinations contain
　　100% compulsory questions to encourage
　　candidates to study across the breadth of each
　　syllabus.
　　The Knowledge module is assessed by equivalent
　　two-hour paper based and computer based
　　examinations.
　　The Skills module examinations F5-F9 are all paper
　　based three-hour papers containing a mix of
　　objective and longer type questions. The Corporate
　　and Business Law （F4） paper is a two- hour
　　computer based objective test examination which is
　　also available as a paper based version from the
　　December 2014 examination session.
　　The Professional level papers are all three-hour
　　paper based examinations, all containing two
　　sections. Section A is compulsory, but there will be
　　some choice offered in Section B.
　　For all three hour examination papers, ACCA has
　　introduced 15 minutes reading and planning time.
　　This additional time is allowed at the beginning of
　　each three-hour examination to allow candidates to
　　read the questions and to begin planning their
　　answers before they start writing in their answer
　　books. This time should be used to ensure that all
　　the information and exam requirements are properly
　　read and understood.
　　During reading and planning time candidates may
　　only annotate their question paper. They may not
　　write anything in their answer booklets until told to
　　do so by the invigilator.
　　The Essentials module papers all have a Section A
　　containing a major case study question with all
　　requirements totalling 50 marks relating to this
　　case. Section B gives students a choice of two from
　　three 25 mark questions.
　　Section A of both the P4 and P5 Options papers
　　contain one 50 mark compulsory question, and
　　? ACCA 2014 All rights reserved.
　　Section B will offer a choice of two from three
　　questions each worth 25 marks each.
　　Section A of each of the P6 and P7 Options papers
　　contains 60 compulsory marks from two questions;
　　question 1 attracting 35 marks, and question 2
　　attracting 25 marks. Section B of both these
　　Options papers will offer a choice of two from three
　　questions, with each question attracting 20 marks.
　　All Professional level exams contain four
　　professional marks.
　　The pass mark for all ACCA Qualification
　　examination papers is 50%.
　　GUIDE TO EXAMINATION ASSESSMENT
　　ACCA reserves the right to examine anything
　　contained within the study guide at any examination
　　session. This includes knowledge, techniques,
　　principles, theories, and concepts as specified.
　　For the financial accounting, audit and assurance,
　　law and tax papers except where indicated
　　otherwise, ACCA will publish examinable
　　documents once a year to indicate exactly
　　what regulations and legislation could potentially be
　　assessed within identified examination sessions
　　For paper based examinations regulation issued or
　　legislation passed on or before 31st August annually,
　　will be examinable from 1st September of the
　　following year to 31st August of the year after that.
　　Please refer to the examinable documents for the
　　paper （where relevant） for further information.
　　Regulation issued or legislation passed in
　　accordance with the above dates may be
　　examinable even if the effective date is in the future.
　　The term issued or passed relates to when
　　regulation or legislation has been formally approved.
　　The term effective relates to when regulation or
　　legislation must be applied to an entity transactions
　　and business practices.
　　The study guide offers more detailed guidance on
　　the depth and level at which the examinable
　　documents will be examined. The study guide
　　should therefore be read in conjunction with the
　　examinable documents list.
　　? ACCA 2014 All rights reserved.
　　Syllabus
　　AIM
　　To develop knowledge and skills in understanding
　　and applying accounting standards and the
　　theoretical framework in the preparation of financial
　　statements of entities, including groups and how to
　　analyse and interpret those financial statements.
　　.
　　MAIN CAPABILITIES
　　On successful completion of this paper candidates
　　should be able to:
　　A Discuss and apply a conceptual and regulatory
　　frameworks for financial reporting
　　B Account for transactions in accordance with
　　International accounting standards
　　C Analyse and interpret financial statements.
　　D Prepare and present financial statements
　　for single entities and business combinations in
　　accordance with International accounting
　　standards
　　RELATIONAL DIAGRAM OF MAIN CAPABILITIES
　　FR
　　（F7）
　　CR （P2）
　　FA （F3）
　　CL （F4） AA （F8）
　　BA （P3）
　　The conceptual and regulatory framework
　　for financial reporting
　?。ˋ）
　　Accounting for transactions in financial statements （B）
　　Preparation of financial statements （D）
　　Analysing
　　and
　　interpreting
　　financial
　　statements
　?。–）
　　? ACCA 2014 All rights reserved.
　　RATIONALE
　　The financial reporting syllabus assumes knowledge
　　acquired in Paper F3, Financial Accounting, and
　　develops and applies this further and in greater
　　depth.
　　The syllabus begins with the conceptual framework
　　of accounting with reference to the qualitative
　　characteristics of useful information and the
　　fundamental bases of accounting introduced in the
　　Paper F3 syllabus within the Knowledge module. It
　　then moves into a detailed examination of the
　　regulatory framework of accounting and how this
　　informs the standard setting process.
　　The main areas of the syllabus cover the reporting of
　　financial information for single companies and for
　　groups in accordance with generally accepted
　　accounting principles and relevant accounting
　　standards.
　　Finally, the syllabus covers the analysis and
　　interpretation of information from financial reports.
　　? ACCA 2014 All rights reserved.
　　DETAILED SYLLABUS
　　A The conceptual and regulatory framework for
　　financial reporting
　　1. The need for a conceptual framework and the
　　characteristics of useful information
　　2. Recognition and measurement
　　3. Specialised, not-for-profit, and public sector
　　entities
　　4. Regulatory framework
　　5. The concepts and principles of groups and
　　consolidated financial statements
　　B Accounting for transactions in financial
　　statements
　　1. Tangible non-current assets
　　2. Intangible assets
　　3. Impairment of assets
　　4. Inventory and biological assets
　　5. Financial instruments
　　6. Leasing
　　7. Provisions and events after the reporting period
　　8. Taxation
　　9. Reporting financial performance
　　10. Revenue
　　11. Government grants
　　C Analysing and interpreting financial
　　statements
　　1. Limitations of financial statements
　　2. Calculation and interpretation of accounting
　　ratios and trends to address users’ and
　　stakeholders’ needs
　　3. Limitations of interpretation techniques
　　4. Specialised, not-for-profit, and public sector
　　entities
　　D Preparation of financial statements
　　1. Preparation of single entity financial statements
　　2. Preparation of consolidated financial
　　statements including an associate
　　? ACCA 2014 All rights reserved.
　　APPROACH TO EXAMINING THE SYLLABUS
　　The syllabus is assessed by a three-hour paperbased
　　examination.
　　All questions are compulsory. It will contain both
　　computational and discursive elements.
　　Some questions will adopt a scenario/case study
　　approach.
　　Section A of the exam comprises 20 multiple choice
　　questions of 2 marks each.
　　Section B of the exam comprises two 15 mark
　　questions and one 30 mark question.
　　The 30 mark question will examine the preparation
　　of financial statements for either a single entity or a
　　group. The section A question and the other
　　questions in section B can cover any areas of the
　　syllabus.
　　An individual question may often involve elements
　　that relate to different subject areas of the syllabus.
　　For example the preparation of an entity’s financial
　　statements could include matters relating to several
　　accounting standards.
　　Questions may ask candidates to comment on the
　　appropriateness or acceptability of management’s
　　opinion or chosen accounting treatment. An
　　understanding of accounting principles and concepts
　　and how these are applied to practical examples will
　　be tested.
　　Questions on topic areas that are also included in
　　Paper F3 will be examined at an appropriately
　　greater depth in this paper.
　　Candidates will be expected to have an appreciation
　　of the need for specified accounting standards and
　　why they have been issued. For detailed or complex
　　standards, candidates need to be aware of their
　　principles and key elements.
　　? ACCA 2014 All rights reserved.
　　Study Guide
　　A THE CONCEPTUAL AND REGULATORY
　　FRAMEWORK FOR FINANCIAL REPORTING
　　1. The need for a conceptual framework and the
　　characteristics of useful information
　　a） Describe what is meant by a conceptual
　　framework of accounting.[2]
　　b） Discuss whether a conceptual framework is
　　necessary and what an alternative system
　　might be.[2]
　　c） Discuss what is meant by relevance and
　　faithful representation and describe the
　　qualities that enhance these characteristics.[2]
　　d） Discuss whether faithful representation
　　constitutes more than compliance with
　　accounting standards.[1]
　　e） Discuss what is meant by understandability
　　and verifiability in relation to the provision of
　　financial information.[2]
　　f） Discuss the importance of comparability and
　　timeliness to users of financial statements.[2]
　　g） Discuss the principle of comparability in
　　accounting for changes its accounting
　　policies.[2]
　　2. Recognition and measurement
　　a） Define what is meant by ‘recognition’ in
　　financial statements and discuss the
　　recognition criteria.[2]
　　b） Apply the recognition criteria to: [2]
　　i） assets and liabilities.
　　ii） income and expenses
　　c） Explain the following measures and compute
　　amounts using: [2]
　　i） historical cost
　　ii） fair value/current cost
　　iii） net realisable value
　　iv） present value of future cash flows.
　　d） Discuss the advantages and disadvantages of
　　the use of historical cost accounting.
　　e） Discuss whether the use of current value
　　accounting overcomes the problems of
　　historical cost accounting.[2]
　　f） Describe the concept of financial and physical
　　capital maintenance and how this affects the
　　determination of profits.[1]
　　3. Specialised, not-for-profit and public sector
　　entities
　　a） Distinguish between the primary aims of notfor
　　profit and public sector entities and those of
　　profit oriented entities.[1]
　　b） Discuss the extent to which International
　　Financial Reporting Standards （IFRSs） are
　　relevant to specialised, not-for-profit and public
　　sector entities.[1]
　　4. Regulatory framework
　　a） Explain why a regulatory framework is needed
　　also including the advantages and
　　disadvantages of IFRS over a national
　　regulatory framework.[2]
　　b） Explain why accounting standards on their own
　　are not a complete regulatory framework.[2]
　　c） Distinguish between a principles based and a
　　rules based framework and discuss whether
　　they can be complementary.[1]
　　d） Describe the IASB’s Standard setting process
　　including revisions to and interpretations of
　　Standards.[2]
　　e） Explain the relationship of national standard
　　setters to the IASB in respect of the standard
　　setting process.[2]
　　5. The concepts and principles of groups and
　　consolidated financial statements
　　a） Describe the concept of a group as a single
　　economic unit.[2]
　　b） Explain and apply the definition of a subsidiary
　　within relevant accounting standards.[2]
　　c） Identify and outline using accounting standards
　　the circumstances in which a group is required
　　? ACCA 2014 All rights reserved.
　　to prepare consolidated financial statements as
　　required by applicable accounting standards
　　and other regulation. [2]
　　d） Describe the circumstances when a group may
　　claim exemption from the preparation of
　　consolidated financial statements.[2]
　　e） Explain why directors may not wish to
　　consolidate a subsidiary and when this is
　　permitted by accounting standards and other
　　applicable regulation.[2]
　　f） Explain the need for using coterminous year
　　ends and uniform accounting polices when
　　preparing consolidated financial statements.[2]
　　g） Explain why it is necessary to eliminate intra
　　group transactions. [2]
　　h） Explain the objective of consolidated financial
　　statements. [2]
　　i） Explain why it is necessary to use fair values
　　for the consideration for an investment in a
　　subsidiary together with the fair values of a
　　subsidiary’s identifiable assets and liabilities
　　when preparing consolidated financial
　　statements. [2]
　　j） Define an associate and explain the principles
　　and reasoning for the use of equity accounting.
　　[2]
　　B ACCOUNTING FOR TRANSACTIONS IN
　　FINANCIAL STATEMENTS
　　1. Tangible non-current assets
　　a） Define and compute the initial measurement of
　　a non-current （including a self-constructed and
　　borrowing costs） asset.[2]
　　b） Identify subsequent expenditure that may be
　　capitalised, distinguishing between capital and
　　revenue items.[2]
　　c） Discuss the requirements of relevant
　　accounting standards in relation to the
　　r*uation of non-current assets.[2]
　　d） Account for r*uation and disposal gains and
　　losses for non-current assets.[2]
　　e） Compute depreciation based on the cost and
　　r*uation models and on assets that have
　　two or more significant parts （complex
　　assets）。[2]
　　f） Discuss why the treatment of investment
　　properties should differ from other properties.[2]
　　g） Apply the requirements of relevant accounting
　　standards for investment property.[2]
　　2. Intangible non-current assets
　　a） Discuss the nature and accounting treatment of
　　internally generated and purchased
　　intangibles.[2]
　　b） Distinguish between goodwill and other
　　intangible assets.[2]
　　c） Describe the criteria for the initial recognition
　　and measurement of intangible assets.[2]
　　d） Describe the subsequent accounting treatment,
　　including the principle of impairment tests in
　　relation to goodwill.[2]
　　e） Indicate why the value of purchase
　　consideration for an investment may be less
　　than the value of the acquired identifiable net
　　assets and how the difference should be
　　accounted for.[2]
　　f） Describe and apply the requirements of
　　relevant accounting standards to research and
　　development expenditure.[2]
　　3. Impairment of assets
　　a） Define an impairment loss.[2]
　　b） Identify the circumstances that may indicate
　　impairments to assets.[2]
　　c） Describe what is meant by a cash generating
　　unit.[2]
　　d） State the basis on which impairment losses
　　should be allocated, and allocate an
　　impairment loss to the assets of a cash
　　generating unit.[2]
　　? ACCA 2014 All rights reserved.
　　4. Inventory and biological assets
　　a） Describe and apply the principles of inventory
　　valuation.[2]
　　b） Apply the requirements of relevant accounting
　　standards for biological assets.[2]
　　5 Financial instruments
　　a） Explain the need for an accounting standard on
　　financial instruments.[1]
　　b） Define financial instruments in terms of
　　financial assets and financial liabilities.[1]
　　c） Indicate for the following categories of financial
　　instruments how they should be measured and
　　how any gains and losses from subsequent
　　measurement should be treated in the financial
　　statements: [1]
　　i） amortised cost
　　ii） fair value （ including option to elect to
　　present gains and losses on
　　equity instruments in other
　　comprehensive income） [2]
　　d） Distinguish between debt and equity capital.[2]
　　e） Apply the requirements of relevant accounting
　　standards to the issue and finance costs of: [2]
　　i） equity
　　ii） redeemable preference shares and debt
　　instruments with no conversion rights
　　（principle of amortised cost）
　　iii） convertible debt
　　6. Leasing
　　a） Explain why recording the legal form of a
　　finance lease can be misleading to users
　?。╮eferring to the commercial substance of such
　　leases）。[2]
　　b） Describe and apply the method of determining
　　a lease type （i.e. an operating or finance
　　lease）。[2]
　　c） Discuss the effect on the financial statements
　　of a finance lease being incorrectly treated as
　　an operating lease.[2]
　　d） Account for assets financed by finance leases
　　in the records of the lessee.[2]
　　e） Account for operating leases in the records of
　　the lessee.[2]
　　7. Provisions and events after the reporting period
　　a） Explain why an accounting standard on
　　provisions is necessary.[2]
　　b） Distinguish between legal and constructive
　　obligations.[2]
　　c） State when provisions may and may not be
　　made and demonstrate how they should be
　　accounted for.[2]
　　d） Explain how provisions should be measured.[1]
　　e） Define contingent assets and liabilities and
　　describe their accounting treatment.[2]
　　f） Identify and account for: [2]
　　i） warranties/guarantees
　　ii） onerous contracts
　　iii） environmental and similar provisions
　　iv） provisions for future repairs or
　　refurbishments.
　　g） Events after the reporting period
　　i） distinguish between and account for
　　adjusting and non-adjusting events after the
　　reporting period [2]
　　ii） Identify items requiring separate disclosure,
　　including their accounting treatment and
　　required disclosures[2]
　　8. Taxation
　　a） Account for current taxation in accordance with
　　relevant accounting standards.[2]
　　b） Explain the effect of taxable temporary
　　differences on accounting and taxable profits.[2]
　　c） Compute and record deferred tax amounts in
　　the financial statements.[2]
　　? ACCA 2014 All rights reserved.
　　9. Reporting financial performance
　　a） Discuss the importance of identifying and
　　reporting the results of discontinued
　　operations.[2]
　　b） Define and account for non-current assets held
　　for sale and discontinued operations.[2]
　　c） Indicate the circumstances where separate
　　disclosure of material items of income and
　　expense is required.[2]
　　d） Account for changes in accounting estimates,
　　changes in accounting policy and correction of
　　prior period errors
　　e） Earnings per share （eps）
　　i） calculate the eps in accordance with
　　relevant accounting standards （dealing with
　　bonus issues, full market value issues and
　　rights issues） [2]
　　ii） explain the relevance of the diluted eps and
　　calculate the diluted eps involving
　　convertible debt and share options
　　（warrants） [2]
　　10. Revenue
　　a） Apply the principle of substance over form to
　　the recognition of revenue.[2]
　　b） Explain the importance of recording the
　　commercial substance rather than the legal
　　form of transactions – give examples where
　　recording the legal form of transactions may be
　　misleading.[2]
　　c） Describe the features which may indicate that
　　the substance of transactions differs from their
　　legal form.[2]
　　d） Apply the principle of substance over form to
　　the recognition and derecognition of assets and
　　liabilities.[2]
　　e） Recognise the substance of transactions in
　　general, and specifically account for the
　　following types of transaction: [2]
　　i） goods sold on sale or return/consignment
　　inventory
　　ii） sale and repurchase/leaseback agreements
　　iii） factoring of receivables.
　　f） Define a construction contract and discuss the
　　role of accounting concepts in the recognition
　　of profit.[2]
　　g） Describe the acceptable methods of
　　determining the stage （percentage） of
　　completion of a contract.[2]
　　h） Prepare financial statement extracts for
　　construction contracts.[2]
　　11. Government grants
　　a） Apply the provisions of relevant accounting
　　standards in relation to accounting for
　　government grants.[2]
　　C ANALYSING AND INTERPRETING FINANCIAL
　　STATEMENTS
　　1. Limitations of financial statements
　　a） Indicate the problems of using historic
　　information to predict future performance and
　　trends.[2]
　　b） Discuss how financial statements may be
　　manipulated to produce a desired effect
　　（creative accounting, window dressing）。[2]
　　c） Explain why figures in a statement of financial
　　position may not be representative of average
　　values throughout the period for example, due
　　to: [2]
　　i） seasonal trading
　　ii） major asset acquisitions near the end of the
　　accounting period.
　　2 Calculation and interpretation of accounting
　　ratios and trends to address users’ and
　　stakeholders’ needs
　　a） Define and compute relevant financial ratios.[2]
　　b） Explain what aspects of performance specific
　　ratios are intended to assess.[2]
　　c） Analyse and interpret ratios to give an
　　assessment of an entity’s performance and
　　financial position in comparison with: [2]
　　i） an entity’s previous period’s financial
　　statements
　　? ACCA 2014 All rights reserved.
　　ii） another similar entity for the same reporting
　　period
　　iii） industry average ratios.
　　d） Interpret an entity’s financial statements to give
　　advice from the perspectives of different
　　stakeholders.[2]
　　e） Discuss how the interpretation of current value
　　based financial statements would differ from
　　those using historical cost based accounts.[1]
　　3. Limitations of interpretation techniques
　　a） Discuss the limitations in the use of ratio
　　analysis for assessing corporate performance.[2]
　　b） Discuss the effect that changes in accounting
　　policies or the use of different accounting
　　polices between entities can have on the ability
　　to interpret performance.[2]
　　c） Indicate other information, including nonfinancial
　　information, that may be of relevance
　　to the assessment of an entity’s performance.[1]
　　d） Compare the usefulness of cash flow
　　information with that of a statement of profit or
　　loss or a statement of profit or loss and other
　　comprehensive income.[2]
　　e） Interpret a statement of cash flows （together
　　with other financial information） to assess the
　　performance and financial position of an entity.[2]
　　f） i） explain why the trend of eps may be a
　　more accurate indicator of performance
　　than a company’s profit trend and the
　　importance of eps as a stock market
　　indicator [2]
　　ii） discuss the limitations of using eps as a
　　performance measure.[3]
　　4. Specialised, not-for-profit and public sector
　　entities
　　a） Discuss the different approaches that may be
　　required when assessing the performance of
　　specialised, not-for-profit and public sector
　　organisations.[1]
　　D PREPARATION OF FINANCIAL STATEMENTS
　　1. Preparation of single entity financial statements
　　a） Prepare an entity’s statement of financial
　　position and statement of profit or loss and
　　other comprehensive income in accordance
　　with the structure prescribed within IFRS and
　　content drawing on accounting treatments as
　　identified within A, B and C.[2]
　　b） Prepare and explain the contents and purpose
　　of the statement of changes in equity.[2]
　　c） Prepare a statement of cash flows for a single
　　entity （not a group） in accordance with relevant
　　accounting standards using the direct and the
　　indirect method .[2]
　　2. Preparation of consolidated financial
　　statements including an associate
　　a） Prepare a consolidated statement of financial
　　position for a simple group （parent and one
　　subsidiary and associate） dealing with pre and
　　post acquisition profits, non-controlling
　　interests and consolidated goodwill.[2]
　　b） Prepare a consolidated statement of profit or
　　loss and consolidated statement of profit or
　　loss and other comprehensive income for a
　　simple group dealing with an acquisition in the
　　period and non-controlling interest.[2]
　　c） Explain and account for other reserves （e.g.
　　share premium and r*uation reserves）。[1]
　　d） Account for the effects in the financial
　　statements of intra-group trading.[2]
　　e） Account for the effects of fair value
　　adjustments （including their effect on
　　consolidated goodwill） to: [2]
　　i） depreciating and non-depreciating noncurrent
　　assets
　　ii） inventory
　　iii） monetary liabilities
　　iv） assets and liabilities not included in the
　　subsidiary’s own statement of financial
　　position, including contingent assets and
　　liabilities
　　? ACCA 2014 All rights reserved.
　　f） Account for goodwill impairment.[2]
　　g） Describe and apply the required accounting
　　treatment of consolidated goodwill.[2]
　　? ACCA 2014 All rights reserved.
　　SUMMARY OF CHANGES TO F7
　　RATIONALE FOR CHANGES
　　ACCA periodically reviews its qualification syllabuses so that they fully meet the needs of stakeholders such as
　　employers, students, regulatory and advisory bodies and learning providers.
　　Note of significant changes to study guide Paper F7
　　The main areas to be added or deleted from the syllabus from that date are shown in Table 1 and 2 below:
　　Table 1 – Additions to F7
　　B4（b） Apply the requirements of relevant accounting standards for
　　biological assets
　　The principles of IAS 41 Agriculture
　　have been introduced to the F7
　　syllabus
　　Table 2 – Deletions to F7
　　There have been some minor deletions to the study guide for the exam year commencing 1 September 2014.
　　These have been made to remove outcomes that overlap with others within F7 or with outcomes fully examined
　　in paper F3.
　　Ref in prior year
　　study guide
　　A1c） Indicate the circumstances and required
　　disclosures where a ‘true and fair’ override may
　　apply
　　B2a） Describe the structure and objectives of the
　　IFRS Foundation, the International Accounting
　　Standards Board （IASB）， the IFRS Advisory
　　Council （IFRS AC） and the IFRS
　　Interpretations Committee （IFRS IC）。[2]
　　B9b） Record entries relating to income tax in the
　　accounting records
　　E1 c） Recognise how related party relationships
　　have the potential to mislead users
　　This has been removed to clarify
　　that no knowledge of disclosure of
　　related parties is required.
　　Table 2 – Changes to the structure of the syllabus of F7
　　There have been changes to how certain outcomes are grouped into sections within the syllabus.
　　The outline of these changes are outlined below:
　　? The conceptual and regulatory framework outcomes have been combined into one section. This section,
　　A, also now includes the concepts relating to group accounting
　　? The outcomes relating to substance over form, revenue and construction contracts have been grouped
　　together in subject area B10
　　? The outcome relating to government grants （previously grouped with the non-current assets outcomes）
　　has been separately classified as subject area B11 to clarify that both revenue based and capital grants
　　can be examined.
　　? Preparation of financial statements of both single entities and groups are now combined within section
　　D.