ACCA F7 and F8

Glynis
Glynis Registered Posts: 488 Dedicated contributor ๐Ÿฆ‰
edited June 18 in AAT member discussion
I am putting in for my December exams and thinking about doing 2 to try and catch up. Is F7 easy to study for? I know it's all IFRS but just wondered if anyone found it easy. I will be studying it at home also.

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  • Richard
    Richard Registered Posts: 368 Dedicated contributor ๐Ÿฆ‰
    Glynis wrote: ยป
    Is F7 easy to study for? I know it's all IFRS but just wondered if anyone found it easy.

    Hi Glynis,

    No ACCA papers are easy! I quite enjoyed studying for F7, much more so than F8 which I hated.

    To give you an idea of what it is like, how did you do with the DFS paper at AAT? It is very similar to that style of paper, but is examined in much more detail. You need to be able to produce a Statement of Financial Position (Balance sheet), Income statement (P&L), cash flow statement and ratio analysis. Consolidation techniques also feature heavily. Unlike the AAT exams, a template will not be provided.

    You also need to ensure that you understand the principles of double entry, as you will be required to produce journals, and carry these through to the financial statements.

    This really is a paper where practise is the key to being successful.

    I would give careful consideration to starting F7 now. You will be placing yourself under further stress, as you would really only have about 5 weeks to study, before you start moving onto the revision stage. I would concentrate on F8 for the December sitting, and maybe look to start F7 in the new year while you are waiting for your results.
  • uknitty
    uknitty Registered Posts: 581 Epic contributor ๐Ÿ˜
    Oh my word - I only recently studied FNST and thought that was a real slog. This paper sounds like it is very intense.
  • Richard
    Richard Registered Posts: 368 Dedicated contributor ๐Ÿฆ‰
    Just wait until P2, that's when the fun really starts!! They don't call it 'The Beast' for nothing!
  • Glynis
    Glynis Registered Posts: 488 Dedicated contributor ๐Ÿฆ‰
    Well I think I will leave it until June. I had planned to attend a course organised by ACCA with Steve Collings but there is no way on earth I am paying ยฃ65 to attend it. I believe things like that should be free of charge to students seeing as it's there exams you are paying to sit. I'll stick to F8 for now.
  • uknitty
    uknitty Registered Posts: 581 Epic contributor ๐Ÿ˜
    Steve has already explained this is not an event aimed at students. Also - why on earth should he be expected to lecture for free ?

    You are studying to gain knowledge. Once you have this knowledge then you expect to be paid and earn a salary for using it (by charging clients who don't have the knowledge you do). Unless of course you plan to do all your work for free once you are qualified ?

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