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ACA Professional Level – Financial Accounting and Reporting: UK GAAP
The Financial Accounting and Reporting: UK GAAP (FAR) Course provides an advanced understanding of financial reporting under the UK Generally Accepted Accounting Practice (UK GAAP). It equips learners with the knowledge and skills necessary to prepare, interpret, and critically assess financial statements, ensuring compliance with UK financial reporting standards and regulations.
Learning Options
- Online Video-Based Learning
- Flexible Schedule
- Expert Trainers with Industry Experience
- High Pass Rates
- 24/7 Personalised Support
- Interactive Learning Materials
- Live Online Classes
- Expert Trainers with Industry Experience
- Live Assessment and Feedback
- Interactive Learning Materials
- Networking Opportunities
- High Pass Rates
Overview
The Financial Accounting and Reporting: UK GAAP (FAR) Course is designed for professionals aiming to deepen their expertise in financial reporting. As part of the ACA Professional Level qualifications, this course focuses on equipping learners with the ability to apply UK GAAP principles in preparing and interpreting complex financial statements.
This course emphasises key topics, including financial statement preparation for single entities and groups, application of UK GAAP standards, and the interpretation of financial performance and position. Learners will also develop a strong understanding of regulatory frameworks, ethical considerations, and the role of professional judgment in financial reporting.
By mastering these skills, learners will be well-prepared to support organisations in meeting their financial reporting obligations and making informed decisions based on accurate financial data.
Course Objectives
Understand the UK GAAP framework and its application in financial reporting
Develop skills to prepare financial statements for single entities and groups under UK GAAP
Gain proficiency in interpreting and analysing financial performance and position
Learn to apply specific UK GAAP standards to various transactions and reporting scenarios
Enhance understanding of regulatory compliance and ethical considerations in financial reporting
Build expertise in handling complex reporting issues, including leases, tax, and revenue recognition
Apply professional judgment in resolving financial reporting challenges
Upon completion, learners will possess the knowledge and skills to prepare and interpret financial statements effectively, ensuring compliance with UK GAAP standards and supporting strategic decision-making in their organisations.
Average completion time
1 Month
with unlimited support
100% online
Start anytime
Study At Your Own PaceCourse Includes
- Expert-led Sessions
- Digital Delegate Pack
- 24/7 Tutor Support
- Downloadable Resources & Challenges
- Interactive Learning
- Exercise Files
- Scenario-Based Learning
Course Details
Develop your understanding of essential financial, business and management accounting techniques with ACCA Applied Knowledge. You'll learn basic business and management principles and the skills required of an accountant working in business.
Entry Requirements
Certificate Level Completion: Candidates must have successfully completed the Certificate Level, demonstrating foundational knowledge in relevant subject areas.
Qualifications in Accountancy and Finance: Prior education or certifications in accountancy and finance are essential to ensure readiness for advanced topics covered in the course.
Business Knowledge: A background in business studies or equivalent qualifications is required to support understanding of strategic and operational aspects of the curriculum.
Learning Outcomes
Understand the UK GAAP Framework: Gain an in-depth understanding of the principles and objectives of UK GAAP.
Prepare Financial Statements: Develop the ability to prepare and present financial statements for single entities and groups.
Apply UK GAAP Standards: Learn to handle complex reporting issues, including revenue recognition, leases, and deferred tax.
Interpret Financial Performance: Enhance skills in analysing and interpreting financial statements to support decision-making.
Target Audience
Aspiring Financial Accountants
Financial Reporting Specialists
Audit Associates
Compliance Officers
Finance Managers
Controllers
The Financial Accounting and Reporting: UK GAAP (FAR) Course is perfect for learners aiming to advance their expertise in financial reporting or pursue roles requiring deep knowledge of UK GAAP. Below are the roles and individuals who can benefit from this course:
Course content
Accounting and reporting concepts and ethics
Single entity financial statements
Consolidated financial statements
MPES Support That Helps You Succeed
At MPES, we offer comprehensive support to help you succeed in your studies. With expert guidance and valuable resources, we help you stay on track throughout your course.
- MPES Learning offers dedicated support to help you succeed in Accounting and Finance courses.
- Get expert guidance from tutors available online to assist with your studies.
- Check your eligibility for exemptions with the relevant professional body before starting.
- Our supportive team is here to offer study advice and support throughout your course.
- Access a range of materials to help enhance your learning experience. These resources include practice exercises and additional reading to support your progress.
ACA Salary Growth
Career Growth Stories
Discover how MPES Learning transforms careers with real success stories.
Arvy Pasanting
As a qualified accountant, studying at MPES has been a very rewarding experience. Its team of passionate and dedicated mentors gave me the confidence and knowledge I needed to not just excel at my current role as an auditor, but also inspired me to expand my horizons.
Arvy Pasanting
David Ford
I was recommended MPES after searching for a way to pursue a career in the accounting profession, I have studied with them throughout my journey utilising both their “in class” and online learning opportunities that fit around the needs of my employer, I have found them to be consummate professionals delivering first class accounting courses with support always available.
David Ford
Aaron Allcote
As a finance officer, MPES has been a huge help in understanding the process of recording and processing transactions from all different perspectives. The courses are very easy to follow, and the training they provide can be applied to real-life scenarios. The courses have been a huge help for me, and I would highly recommend them.
Aaron Allcote
Bob Beaumont
I completed all of my ACA studies with MPES and I think you would struggle to find a better training provider anywhere in the British Isles. MPES' tutors are excellent both at delivering training and giving individualised feedback and coaching. the supporting materials and the out of class support are also great.
Bob Beaumont
George Evans
The Financial Risk Management Course at MPES was invaluable in deepening my understanding of risk assessment and mitigation strategies. The hands-on learning approach allowed me to apply new concepts directly to my work. I highly recommend it for professionals in finance.
George Evans
James Robinson
As a financial consultant, I am always seeking ways to enhance my expertise. The Investment Analysis Course at MPES exceeded my expectations, offering practical skills and knowledge that I can apply immediately in my consulting work. It's an outstanding choice for professionals in finance.
James Robinson
Laura Bennett
The Corporate Finance Course I attended at MPES was transformative. The depth of knowledge shared by the instructors and the relevance of the topics covered have directly impacted on our financial strategy. I strongly endorse this program for anyone in a leadership position in finance.
Laura Bennett
Emma Johnson
The Financial Modeling and Valuation Course at MPES was incredibly insightful. The practical applications and real-world examples helped solidify my understanding of complex concepts. I highly recommend this course to anyone looking to enhance their financial acumen.
Emma JohnsonACA Roadmap
Have Questions? We’ve Got You
If you have any questions, we’re here to help. Find the answers you need in the MPES detailed FAQ section.
Q. What is the focus of the ACA Financial Accounting and Reporting: UK GAAP course?
The course focuses on understanding UK GAAP principles, preparing financial statements, and ensuring compliance with UK-specific reporting standards.
Q. Who should join this course?
This course is ideal for accountants, auditors, financial analysts, and professionals managing or analysing financial reports under UK GAAP.
Q. How will this course benefit my career?
This course enhances the learner’s knowledge of financial reporting, compliance, and decision-making, preparing you for advanced professional roles in financial management.
Q. Is prior knowledge required for this course?
Yes, a basic understanding of accounting principles is recommended for optimal learning outcomes.
Q. What learning outcomes can I expect?
You’ll gain skills in preparing financial statements, interpreting reports, ensuring compliance, and solving financial reporting challenges effectively.
Q. What topics are covered in the Financial Accounting and Reporting: UK GAAP (FAR) Course?
The course covers the UK GAAP framework, preparation of single entity and group financial statements, application of key standards, regulatory compliance, and interpretation of financial performance and position.
Q. How is the course assessed?
The FAR Course is assessed through a written exam that tests theoretical understanding and practical application of UK GAAP principles in financial reporting scenarios.
Q. What career opportunities does the course prepare learners for?
Completing the FAR Course equips learners with advanced knowledge to pursue roles in financial reporting, audit, and compliance, such as financial accountant, financial reporting specialist, or audit associate.
Q. What learning materials are provided during the course?
Learners receive comprehensive study guides, practice exams, access to interactive e-learning resources, and materials to ensure a well-rounded understanding of the subject matter.
Q. How does this course fit into the broader ACA Qualification framework?
The Financial Accounting and Reporting: UK GAAP (FAR) Course is part of the ACA Professional Level qualifications and provides the groundwork for more advanced ACA modules, building towards full ICAEW membership.
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Resources
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