This exam is for students at the Applied Skills level, building on knowledge from Financial Accounting (FA). Passing is essential for progressing to the Strategic Professional level, particularly the Strategic Business Reporting (SBR) paper.
Pass mark 50/72120 minutesReal test fee approxAssociation of Chartered Certified Accountants (ACCA)How many can I get wrong?
About this practice. Revision Robin is built and maintained by Bloor Engineering Ltd, a UK-registered company. Our ACCA Financial Reporting (FR) questions are written and reviewed in-house to match the current syllabus, each with a plain-English worked explanation. They are original practice material, not the official exam questions and not affiliated with or endorsed by Association of Chartered Certified Accountants (ACCA). Always confirm current test rules, fees and content with the official provider. See our Terms and Privacy.
Little and often beats one big session. Five minutes on the bus counts.
Free practice questions
Try 3 real ACCA Financial Reporting (FR) questions
Have a go, then reveal the worked explanation. A taster from a bank of 207 original questions. Unlock for unlimited drills and full timed mocks.
Q1. According to the IASB's Conceptual Framework for Financial Reporting, which of the following is a fundamental qualitative characteristic of useful financial information?
A. Comparability
B. Timeliness
C. Relevance
D. Verifiability
Show answer & explanation
✓ Answer: C. Relevance
Relevance and faithful representation are the two fundamental qualitative characteristics. The others listed are enhancing qualitative characteristics.
Q2. Which of the following conditions must ALL be met for a company to recognise a provision under IAS 37?
A. A present obligation, a probable outflow of resources, and the amount can be measured.
B. A past event has occurred and it is more likely than not that an outflow will occur.
C. A present obligation (legal or constructive) as a result of a past event, a probable outflow of economic benefits, and a reliable estimate can be made of the amount.
D. A possible obligation, a probable outflow of economic benefits, and a reliable estimate can be made.
Show answer & explanation
✓ Answer: C. A present obligation (legal or constructive) as a result of a past event, a probable outflow of economic benefits, and a reliable estimate can be made of the amount.
IAS 37 specifies three criteria for recognising a provision: a present obligation from a past event, a probable outflow of economic benefits, and a reliable estimate of the amount. A 'possible' obligation is a contingent liability.
Q3. A company uses the fair value model for its investment properties. An investment property had a fair value of £1,000,000 at 31 December 20X1. During the year to 31 December 20X2, the company spent £50,000 on enhancing the property. The property's fair value at 31 December 20X2 was £1,120,000. What is the total gain to be recognised in profit or loss for the year ended 31 December 20X2?
A. £120,000
B. £70,000
C. £170,000
D. £50,000
Show answer & explanation
✓ Answer: B. £70,000
Under the fair value model, capital expenditure is not added to the carrying amount. The movement in fair value is recognised in profit or loss. Gain = Closing fair value (£1,120,000) - Opening fair value (£1,000,000) - Capital expenditure (£50,000) = £70,000.
Exam mode
Full mock exam
72 random questions, real timing, marked against the official pass mark. Different every time.
The first 8 of 72 questions are free, with your score on them. Finishing the paper, your result against the pass mark and every answer explained come with the paid version.
Try it free
Topic drills
Ten quick questions on one topic, marked instantly with explanations.
1 free drill left.
Who has to sit the ACCA Financial Reporting (FR)
Who needs a ACCA Financial Reporting (FR)?
Candidates progressing through ACCA Applied Skills level, building on FA, and preparing for SBR.
The real ACCA Financial Reporting (FR): format
How many questions are in the ACCA Financial Reporting (FR)?
The real ACCA Financial Reporting (FR) has 32 questions and lasts 180 minutes. Our mock uses 72 questions in 120 minutes.
What is the ACCA Financial Reporting (FR) pass mark?
Real exam pass mark: 50%. Our mock marks you at 50 out of 72, the threshold we mark against.
What it costs, and what a resit costs
How much does the ACCA Financial Reporting (FR) cost?
Rebooking after a fail: Wait until the next exam sitting (March, June, Sept, Dec); approx. 2-4 months.
How hard is it
What is the ACCA Financial Reporting (FR) pass rate?
Real exam first-time pass rate: Typically 45-52% (recent sittings 49-52%). Difficulty: High - one of the more challenging Applied Skills papers, particularly group consolidations.
Why people fail it
Why do people fail the ACCA Financial Reporting (FR)?
Poor time management, especially in Section C, leading to incomplete answers.
Weak group accounting skills and insufficient practice of complex consolidations.
Memorizing IFRS standards without understanding application and misinterpreting questions.
Figures for the real exam from vertexaisearch.cloud.google.com, google.com, checked October 2026. Fees and rules change, so confirm with the test provider before you book.
ACCA Financial Reporting (FR): common questions
Frequently asked
How long do you get?
The test is timed at 120 minutes. Our full mock runs on the same clock so you can practise your pacing.
Are these the real exam questions?
No. Our questions are original and written to match the current syllabus, so they give realistic practice without copying the official paper. Every answer comes with a plain-English explanation. Always confirm current rules and content with Association of Chartered Certified Accountants (ACCA).