Learn with CIMA : F1 training material for 100% pass
Updated: Jul 28, 2026
No. of Questions: 247 Questions & Answers with Testing Engine
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CIMA F1 Exam Overview:
| Certification Vendor: | CIMA (Chartered Institute of Management Accountants) |
| Exam Name: | Financial Reporting |
| Exam Number: | F1 |
| Passing Score: | Scaled score of 100 out of 150 (≈67%) |
| Real Exam Qty: | 60 |
| Related Certifications: | CIMA E1 Managing Finance in a Digital World CIMA P1 Management Accounting CIMA OCS Operational Case Study |
| Available Languages: | English |
| Exam Duration: | 90 minutes |
| Exam Format: | Computer-based objective test, Multiple choice, Multiple response, Fill-in-the-blank (number entry), Drag-and-drop |
| Sample Questions: | CIMA F1 Sample Questions |
| Exam Way: | Computer-based objective test available on demand at Pearson VUE test centres worldwide or online |
| Pre Condition: | Completion of CIMA Certificate in Business Accounting (Cert BA) or equivalent foundational accounting qualification recommended |
| Official Syllabus URL: | https://hub.cimaglobal.com/proqual/2019/operational/F1 |
CIMA F1 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Regulatory Environment of Financial Reporting | 10% | - Regulators and their role
|
| Topic 2: Principles of Taxation | 20% | - Taxation fundamentals
|
| Topic 3: Financial Statements | 45% | - Statement preparation and IFRS application
|
| Topic 4: Managing Cash and Working Capital | 25% | - Cash and working capital management
|
CIMA Financial Reporting Sample Questions:
1. Statements of financial position for YZ, BC and DE at 31 March 20X2 include the following balances:
YZ purchased 90% of BC's equity shares for $508,000 on 1 January 20X2. On 1 January 20X2 BC's retained earnings were $183,000. YZ uses the proportion of net assets method to value non-controlling interest at acquisition.
YZ purchased 30% of DE's equity shares on 1 April 20X1 for $112,000. DE's retained earnings at 1 April
20X1 were $88,000.
On 1 February 20X2 YZ sold goods to BC for $28,000 at a mark up of 25% on cost. All the goods were still in BC's inventory at 31 March 20X2.
Calculate the amount of the non-controlling interest to be included in YZ's consolidated statement of financial position at 31 March 20X2.
Give your answer to the nearest whole $.
2. Indicate the possible reasons for the changes identified below to working capital ratios by placing the appropriate reason against each change.
3. Mr K is being pressured by his manager to change figures in his report so that it will improve his manager's bonus.
His manager has promised Mr K a promotion if he agrees to do this.
What threats is Mr K facing?
A) Intimidation and self-interest
B) Intimidation and familiarity
C) Self-review and advocacy
D) Familiarity and self-interest
4. Select THREE actions that should be taken by a business offering credit to its customers to ensure that amounts owing are collected as quickly as possible.
A) Issue invoices quickly.
B) Monitor outstanding trade receivables.
C) Take longer to settle trade payables than collect trade receivables.
D) Monitor outstanding trade payables.
E) Extend the credit terms available to customers.
F) Chase up slow payers with reminder letters.
5. An entity acquires 100% of the equity shares in another entity.
The consideration paid for the shares is less than the fair value of the net assets acquired.
Which of the following is the correct accounting treatment for the difference between the consideration paid and the fair value of the net assets acquired, in accordance with IFRS 3 Business Combinations?
A) Recognise as a deduction from goodwill in the consolidated statement of financial position.
B) Recognise as a gain in the consolidated statement of profit or loss.
C) Recognise as a gain in the statement of changes in equity.
D) Recognise as a deferred credit and release to consolidated profit or loss over its useful economic life.
Solutions:
| Question # 1 Answer: Only visible for members | Question # 2 Answer: Only visible for members | Question # 3 Answer: A | Question # 4 Answer: A,B,F | Question # 5 Answer: B |
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