ACCA SBR SPARK Notes: Section B

The Financial Reporting Framework

What you'll learn
Apply the definitions and recognition criteria for assets, liabilities, income, and expenses to practical scenarios.
Evaluate the usefulness of financial information in a given situation by applying the qualitative characteristics.
Discuss the selection of appropriate measurement bases and the principles of presentation and disclosure.
Determine the correct carrying amount of inventory in accordance with the lower of cost and net realisable value rule.

Requirements
You should have covered the ACCA SBR syllabus content.

Description
ACCA SBR SPARK Notes: Section B - The Financial Reporting FrameworkPrepare for your ACCA Strategic Business Reporting (SBR) examinations with our SPARK Notes video series. This series is led by an experienced facilitator and is designed for efficient revision, helping to enhance your technical knowledge and build confidence in your understanding of the syllabus.To help you stay ahead for the ACCA Strategic Business Reporting (SBR) September 2025 to June 2026 exam sittings, this SPARK Notes series provides focused coverage of the Conceptual Framework and its application to inventories.Led by Sunway TES CAE’s experienced facilitators, this video series is designed to cover:The IASB Conceptual Framework (2018)Review the purpose, objective, and qualitative characteristics of useful financial information.Explain the definitions of the five elements (Asset, Liability, Equity, Income, Expense) and the updated principles for recognition and derecognition.Discuss the different measurement bases (Historical Cost and Current Value) and the concepts of presentation and disclosure, including OCI.IAS 2 InventoriesExplain the core principle of inventory valuation: measuring at the lower of Cost and Net Realisable Value (NRV).Identify the components of 'Cost' (including purchase, conversion, and other costs) and the calculation of 'NRV'.Discuss the permitted cost formulas (FIFO and Weighted Average) and the recognition of inventory as an expense.This video series ensures you are focusing on what matters for these topics, providing a comprehensive summary to refresh your knowledge after you have covered the full syllabus.This SPARK Notes series is delivered in a video-only format, where the lecturer explains each component of the standard. It is ideal for students seeking a concise and effective revision tool to reinforce their learning after completing their main studies. By the end of the course, you will have a clearer understanding of these fundamental SBR topics and a stronger grasp of the key principles needed to achieve exam success.

Who this course is for
Students preparing for the ACCA SBR exam in December 2025 to June 2026.
Students aiming to acquire knowledge in ACCA SBR.