FA frequently asked questions (FAQs)

What is the format of the FA exam?

All questions in the exam are compulsory. The exam contains 35 objective test (OT) questions which are each worth 2 marks. There are also two 15-mark multi-task questions (MTQ). The exam is a computer-based exam. The MTQs cover financial statements preparation for either a sole trader or a company, (statement of profit or loss, statement of financial position, statement of cash flows and the statement of changes in equity) and group accounting.

How do I know what is in the syllabus?

Candidates and tuition providers are advised to regularly review the syllabus guidance published on the ACCA website.

How do candidates know which IFRS will be examinable in FA?

The ACCA website contains a list of examinable documents for FA Financial Accounting.  

Will IFRS15 be examinable in FA?

Yes.  IFRS15 Revenue from Contracts with Customers is listed as an examinable document for FA and it will be applied when looking at how to account for sales.

Will IFRS16 be examinable in FA?

No.  Although IFRS16 Leases was issued in January 2016, it is not examinable in FA.  It is an examinable document for FR and SBR.

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