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CPA FR Actual Tests : Financial Reporting
About Best CPA FR Exam Practice Material
In 2026, failing the FR exam still means paying the registration fee all over again. A Actual4test practice package with 80 up-to-date CPA Financial Reporting questions costs far less than a single retake.
CPA FR Exam Overview:
| Certification Vendor: | ACCA |
|---|---|
| Exam Name: | ACCA Financial Reporting (FR) Exam |
| Exam Number: | FR (Financial Reporting) |
| Exam Format: | Computer-based exam (CBE), Constructed response questions, Objective test questions (OTQ) |
| Exam Duration: | 180 minutes |
| Exam Price: | Varies by country and exam entry period (typically £100–£200 equivalent) |
| Available Languages: | English |
| Real Exam Qty: | Variable (Section A OTQ + Section B multi-part constructed response questions) |
| Certificate Validity Period: | Does not expire as part of ACCA qualification progression |
| Passing Score: | 50% |
| Related Certifications: | ACCA Applied Skills Financial Accounting (FA) Strategic Business Reporting (SBR) ACCA Applied Knowledge |
| Recommended Training: | ACCA Approved Learning Providers ACCA Study Hub |
| Exam Registration: | ACCA Official Registration ACCA Exams Booking |
| Sample Questions: | CPA FR Sample Questions |
| Exam Way: | Computer-based exam delivered at approved ACCA exam centers or remote CBEs where available |
| Pre Condition: | Recommended: ACCA Financial Accounting (FA) or equivalent basic accounting knowledge |
| Official Syllabus URL: | https://www.accaglobal.com |
CPA FR Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| International Financial Reporting Standards (IFRS) | - IAS/IFRS Application
|
| Financial Reporting Framework | - Conceptual Framework for Financial Reporting
|
| Group Financial Statements | - Consolidation
|
| Analysis and Interpretation | - Financial statement analysis
|
| Financial Statements Preparation | - Preparation of financial statements
|
Common Questions Candidates Ask About FR
The FR exam (Financial Reporting) is the official CPA exam that leads to the ACCA Qualification certification, a credential at the Professional level. Related certifications include ACCA Applied Knowledge, ACCA Applied Skills, Financial Accounting (FA), Strategic Business Reporting (SBR). Actual4test provides 80 practice questions to help you prepare for it with confidence.
The FR exam contains Variable (Section A OTQ + Section B multi-part constructed response questions) questions and gives you 180 minutes to finish them. Before exam day, divide the total time by the question count so you know the pace you need to keep, and flag difficult items instead of getting stuck on them. Running at least one full timed session in the Actual4test test engine is the best way to make that time pressure feel familiar.
You need 50% to pass, and the official registration fee is Varies by country and exam entry period (typically £100–£200 equivalent). Keep in mind that a failed attempt means paying that fee in full again, so it pays to test yourself first. When your scores on the Actual4test timed practice tests stay consistently above the passing line, you are ready to book the exam.
Recommended: ACCA Financial Accounting (FA) or equivalent basic accounting knowledge Requirements can change over time, so always double-check the latest eligibility rules before you register on the official CPA exam page.
You can book your exam through the official registration channels:
The exam is delivered in the following way: Computer-based exam delivered at approved ACCA exam centers or remote CBEs where available.
CPA recommends the following training options for this exam:
Official courses build the foundation, and the 80 FR practice questions from Actual4test help you turn that knowledge into exam-day performance.
Yes. Actual4test offers a free FR PDF demo so you can check the quality of the practice questions before purchasing. After you buy, your product comes with 365 days of free updates, and if it expires you can renew the update service at a 50% discount from your member zone.
Your purchase is protected by our 100% Money Back Guarantee. If you take the corresponding FR exam within 60 days of purchase and do not pass, send us a scan of your enrollment slip and the official Score Report PDF within two days of the exam, and the full refund will be processed within seven days. The candidate name must match the payer name; exams taken within three days of purchase, free materials, and expired orders are not eligible. If you would rather not refund, you can exchange your product for two free products of equal value and keep the update service on your original purchase. Delivery itself is instant: your material is available for download and is emailed to you within one minute of payment. If nothing arrives within two hours, contact our support team. There is no limit on how many computers you may install it on.
The FR syllabus is organized into 5 exam domains. Among the first three are Analysis and Interpretation, Group Financial Statements, Financial Statements Preparation. For the complete breakdown of topics and subtopics, see the Exam Topics section above.
CPA Financial Reporting Sample Questions:
Richard Ltd and McMagoo Inc. trades in shares and securities and are close rivals for many years. Richard Ltd accuses McMagoo Inc. of providing false information related to a particular PH plc's share; though Richard Ltd knows it is not true. McMagoo Inc. sues Richard Ltd. for defamation. Richard's and McMagoo Inc's lawyers agree that it is likely that McMagoo Inc. will win the case and receive damages of an amount of $1.5m. There is no possibility of the case being resolved before the financial statements are finished.
How the above litigation will be represented in the financial statements of both Richard Ltd and McMagoo Inc.?
- A. Richard Ltd should provide for $1.5m. McMagoo Inc. should ignore as this is too remote.
- B. Richard Ltd should ignore as this is too remote. McMagoo Inc. has a contingent asset and should disclose in the financial statements.
- C. Richard Ltd should provide for $1.5m. McMagoo Inc. has a contingent asset and should disclose in the financial statements.
- D. Richard Ltd should have a contingent asset and should disclose in the financial statements. McMagoo Inc. should provide for $1.5m.
Correct Answer: C 🗳️
Debra Ltd. has the following loan finance in place during the year ended 31 December 2012:
$2 million of 6% loan finance
$4 million of 8% loan finance
It constructed a new factory which cost $900,000 and this was funded out of the existing loan finance.
The factory took eight months to complete.
What borrowing costs should be capitalised in the year ended 31 December 2012?
- A. $36,000
- B. $43,980
- C. $30,000
- D. $65,970
Correct Answer: B 🗳️
Robert plc, which has many subsidiaries, acquired 90% of the ordinary shares of Newey Ltd in 2008. On 31 December 2011 Newey Ltd's net assets amounted to $300,000. On 30 September 2012 Robert plc sold all of its shares in Newey Ltd. Newey Ltd's profit for the year to 31 December 2012 was $60,000, which accrued evenly over that year.
What amount will appear as a deduction from the non-controlling interest column in Robert plc's consolidated statement of changes in equity for the year ended 31 December 2012 in respect of Newey Ltd?
- A. $36,000
- B. $4,500
- C. $34,500
- D. $30,000
Correct Answer: C 🗳️
Rochester pIc has entered into a fixed price contract for the provision of services to Adele Ltd. The contract commenced in September 2012 and will be completed in 2013.
The contract price is $2 million and costs are recoverable as incurred. At 31 December 2012, Rochester plc's year ends, costs of $500,000 have been incurred.
The contract has been assessed as 30% complete; however, costs to complete cannot be estimated reliably.
In accordance with IAS 18 Revenue, how much revenue should be included in Rochester plc's statement of comprehensive income for the year ended 31 December 2012 in respect of this contract?
- A. Nil
- B. $2 million
- C. $600,000
- D. $500,000
Correct Answer: D 🗳️
The aim of IAS 7 is to provide information to users of financial statements about the entity's ability to generate cash and cash equivalents, as well as indicating the cash needs of the entity.
Which one of the following statements gives the best definition of cash equivalents as set out in IAS 7 Statement of Cash Flows?
- A. Cash equivalents are readily disposable investments
- B. Cash equivalents are investments which are traded in an active market
- C. Cash equivalents are short-term highly liquid investments subject to insignificant risks of change in value
- D. Cash equivalents are cash, overdrafts, short-term deposits, options and other financial instruments and equities traded in an active market
Correct Answer: C 🗳️
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