This module prepares you for the ACCA Professional Paper F7 examination.

The aim is to develop knowledge and understanding of accounting principles and concepts and their application in a practical context.

On completion of this paper candidates should be able to:

• describe and evaluate the role and authority of the International Accounting Standards Committee
• prepare financial statements for different entities to comply with current lnternational Accounting Standards and related pronouncements
• prepare simple group financial statements
• analyse, interpret and report on financial statements and related information to a variety of user groups
• evaluate and apply the requirements of other specified International Accounting Standards and
• demonstrate the skills expected in Part 2.

Prepare you for ACCA Paper F7 exam.

Important Notes: Some of the screens in the lessons may bear marks referring to course code prior to the December 2007 syllabus. While there is a revamp of the ACCA syllabus, many of the topics, especially those addressing generic areas are still the same. Our instructors had reviewed the syllabus, and had taken out topics that are no longer relevant, and inserted or replaced lessons to address new topics. The lessons in the module therefore fully addressed the post December 2007 syllabus.

Accounting principles, concepts and theory including price level changes, agency theory.

Framework the structure and processes of the IASC, appraisal and application of ‘The Framework for the Preparation and Presentation of Financial Statements’, the role of IOSCO.

Preparation and presentation of financial statements for limited liability companies and other entities accounting for capital and capital instruments, net current assets, tangible and intangible non-current assets, earnings per share, taxation in company accounts, revenue recognition and the concept of distributable profit, other specified IAS’s and pronouncements of the Standing Interpretations Committee (SIC).

Preparation of consolidated income statements and balance sheets intra- group transactions, basic fair value adjustments, associated companies, joint ventures, substance of, and accounting for, a Uniting of Interests.

Analysis and interpretation financial statements and related information performance reports for various user groups, reporting financial performance, cash flow statements of a single company, analysis of corporate information, related party transactions.

Lecturer: Ms Carol Zhou

Ms Carol Zhou holds a bachelor degree in International Finance from the University of International Business and Economics (UIBE) in 2001. In the same year, she was also bestowed the “Best Graduates” award from the Beijing City Municipal. She is currently in the final stages of completing her PhD studies in Finance and Accounting in Singapore. Ms Zhou is well versed in the latest accounting standards. More importantly she understands how to do well and coach students to do well in examinations. During the last three years, she is a free lance teacher, conducting financial accounting lessons for accounting undergraduates of the National University of Singapore. She is a highly valued teacher, winning many commendations from her students.

Included with this subscription are the following.

1. Access to Outreach virtual classroom lessons
2. Online assessment tests
3. PDF copies of lecture notes.

Click here to download sample lesson. Save the downloaded executable file to your local harddisk. Double click on the file to run and view lesson. The file about 6 - 8MB in size and may take a while to download for slow Internet links.
Note that NOTHING will be installed on your computer when you run this file. Simply delete this file when you do not need it anymore.

Terms and Conditions:
For the subscription price stated below, you will have unlimited access to all the lessons in this module, during the access period (as stated below).

Note that the subscription price DOES NOT include ACCA membership fees or examination fees. You will have to liase with ACCA UK, and any membership and examination fees shall be paid directly to ACCA UK.

Refund: For refund request after purchase, please refer to our Refund Policy listed on our home page.

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