The aims of F7,Financial Reportingare to develop knowledge and skills in understanding and applying accounting standards and the conceptual and regulatory frameworks in the preparation of financial statements of single and group entities. The analysis and interpretation of the operating performance and ...
Figure 1 shows an example of an MCQ from the Paper FA1 pilot exam. In a multiple-response question, you are required to select more than one response from the options provided by clicking the appropriate tick boxes. Questions typically have four answer option...
This article focuses on some of the main principles of consolidated financial statements that a candidate must be able to understand and gives examples of how they may be tested in objective test questions (OTs) and multi-task questions (...
Number entry (NE) – This type of question is for Papers F2, Management Accounting, and F3, Financial Accounting, where a candidate has to complete a calculation and enter the resulting figure in an answer box; this type of question is worth two mar...
While a longer question may provide the opportunity to critically examine the underlying assumptions, this is not possible in an MCQ and the question should be answered on the basis of the data provided. Second, only the data included in a question is ...