ACCA F3

ACCA F3

IMPORTANT INFORMATION
ACCA F3 EXAMINER
The examiner is Nicola Ventress. Nicola is a freelance lecturer and
author in financial reporting.

ACCA F3 SCOPE OF STUDY
Financial Accounting introduces students to financial accounting, explaining its context and purpose and focusing on recording, processing and reporting business transactions and events

ACCA F3 TYPE OF EXAM
The Knowledge module exam is two hours long and are available both as computer-based exams (CBEs) – providing automatic marking and immediate results – and also as traditional paper based exam.

Some of these ACCA f3 Financial accounting interactive exam questions are available from my website; please follow this link:
ACCA F3 Financial Accounting MCQ
(They are free and no registration required!)

ACCA F3 OVERALL CONCEPT
F3 gives students who may have no previous accounting experience broad grounding in the fundamentals of recording transactions and events.

ACCA F3 EXAM FORMAT
F3 is a wholly objective testing paper, so students must answer short questions by selecting the right option from a choice of two, three, or four alternatives. Where there are two or three alternatives, each question will attract one mark; all other questions will attract two marks.

The paper contains 40 two mark and 10 one mark questions which test knowledge, comprehension and some application where relevant. All questions must be answered and there is no choice available. The pass mark is 45 out of 90 or 50%..

In an objective test, nothing is gained by leaving any question unanswered. Therefore, if the student does not know the answer, or they find themselves running out of time, it is recommend strongly that they guess and select one option rather than skipping any question..

ACCA F3 WHY STUDENTS FAILED
Students come into the exam unprepared; without a sufficient knowledge or understanding of certain areas of the syllabus.

Rushing through questions through fear of not completing all 50 in the allotted time. Without taking care to read and fully understand the question, including the question statement where relevant, to give themselves the best chance of answering questions correctly.

Leaving questions unanswered through lack of time or knowledge.

Dwell for too long on any question that they are not sure about.

ACCA F3 HOW TO PASS THE EXAM
Need to gain an understanding of the background to, and reasons for, financial accounting.
Make sure you don’t learn any one section or subject area of the syllabus to the exclusion of other areas.

Practise questions as much as possible. There is no substitute for actually attempting exam style questions – from the official texts or on the website – or for experiencing the computerised exam simulation if taking the computer based Version.

This is an extract from the interview with the AccA F3 examiner.

ACCA F3