Unofficial practice for the ACCA Financial Reporting (FR) exam. Not affiliated with or endorsed by ACCA.
ACCA charges a one-off registration fee and an annual subscription. Each exam also has an entry fee, which this page does not quote: check the current figure on ACCA's fees page before you enter.
| Initial registration | £89, once |
|---|---|
| Annual subscription 2026 | £140 |
| Exam entry fee | Check ACCA's fees page |
| Sessions | March, June, September and December |
ACCA's fees page lists a one-time initial registration fee of £89 when you register as a student, and an annual subscription of £140 for 2026 to keep your student status active.
FR is sat in sessions (March, June, September and December), with results about 6 weeks later. A resit means entering a later session, so it pays to enter once your timed practice is comfortably above half marks.
ACCA says its Study Hub, with syllabus coverage, quizzes and practice questions, is free to students through MyACCA.
Inventories and agriculture
Elsworth Co has an item of inventory that cost $48,000. It would normally sell for $70,000 but was damaged before the year end. It will now need repairs costing $15,000 and will then sell for only $60,000, with a sales commission of 5% of the selling price.
At what amount should the item be stated in the statement of financial position? (2 marks)
Leases
On 1 January 20X5 Belmont Co leased equipment for five years, paying $600,000 each 31 December. The interest rate implicit in the lease is 6%, and the present value of the payments at 1 January 20X5 was $2,527,200.
What is the carrying amount of the lease liability at 31 December 20X5? (2 marks)
Groups and associates
On 31 December 2026 Norcott Co sold its entire 80% holding in Orwell Co for $14,000,000 in cash. Norcott Co had bought the holding for $9,000,000.
At 31 December 2026 Orwell Co's net assets were $12,000,000 (no fair value adjustments remain), goodwill on the acquisition after impairment was $2,500,000, and the non-controlling interest, measured at fair value at acquisition and updated for its share of post-acquisition changes and impairment, was $3,100,000. Ignore tax.
What profit on disposal is reported in the consolidated statement of profit or loss for the year ended 31 December 2026? (2 marks)
ACCA's fees page lists a one-time initial registration fee of £89.
£140 for 2026, according to ACCA's fees page.
ACCA says results for session exams come about 6 weeks after the exam.