IntroductionIn this blog post, we will compare two ACCA exams, Financial Reporting (FR) and Audit and Assurance (AA), and help you decide which one to take first. ACCA, the Association of Chartered Certified Accountants, is a globally recognized professional accounting qualification. Choosing the right exam to start with is an important step in your ACCA journey.Financial Reporting (FR) ExamThe FR exam focuses on the preparation and presentation of financial statements for both single and group entities. It covers the concepts, principles and practices of financial reporting and the application of International Financial Reporting Standards (IFRSs). After passing the FR exam, you will have a strong foundation in financial reporting and be well-prepared for further ACCA exams and a career in financial accounting.Pros of starting with the FR exam:
- FR exam covers the basic concepts of financial reporting which are useful for further ACCA exams.
- The exam is relatively easier than other papers and can boost your confidence in taking other exams.
- The exam is relatively easier than other papers and may not challenge you enough.
- The exam is quite theoretical, so it may not be as relevant to your job as other papers.
- AA exam covers the basic concepts of audit and assurance which are useful for further ACCA exams.
- The exam is relatively challenging and can prepare you well for other exams.
- The exam is relatively challenging and may discourage you if you don’t perform well.
- The exam is quite theoretical, so it may not be as relevant to your job as other papers.
- Your background and experience in accounting and finance
- Your interests and career aspirations
- The difficulty level of the exams
- The relevance of the exams to your current or future job
Philip Meagher
3 min read