CIMA F1 Q&A - in .pdf

  • F1 pdf
  • Exam Code: F1
  • Exam Name: Financial Reporting
  • Updated: Aug 03, 2026
  • Q & A: 247 Questions and Answers
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  • Exam Code: F1
  • Exam Name: Financial Reporting
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  • Updated: Aug 03, 2026
  • Q & A: 247 Questions and Answers
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CIMA F1 Q&A - Testing Engine

  • F1 Testing Engine
  • Exam Code: F1
  • Exam Name: Financial Reporting
  • Updated: Aug 03, 2026
  • Q & A: 247 Questions and Answers
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CIMA F1 Exam Syllabus Topics:

SectionWeightObjectives
Principles of Taxation20%- Current tax calculation
- Deferred tax concepts
- Indirect taxes overview
- Tax system and types of taxes
Financial Statements45%- Basic consolidated financial statements
- Application of IFRS standards
  • 1. IAS 2 Inventories
    • 2. IAS 16 Property, Plant and Equipment
      • 3. IAS 36 Impairment of Assets
        • 4. IFRS 16 Leases
          - Interpretation and analysis of financial statements
          - Preparation of single entity financial statements
          • 1. Statement of changes in equity
            • 2. Statement of profit or loss
              • 3. Statement of cash flows
                • 4. Statement of financial position
                  Managing Cash and Working Capital25%- Working capital cycle and objectives
                  - Management of receivables, inventory and payables
                  - Cash management and forecasting
                  - Short-term financing options
                  The Regulatory Environment of Financial Reporting10%- Ethics in financial reporting
                  - Principles vs rules-based regulation
                  - Conceptual framework and regulatory bodies
                  - IFRS Foundation and IASB structure

                  CIMA Financial Reporting Sample Questions:

                  1. Which of the following is NOT a principle in the CIMA Code of Ethics for Professional Accountants?

                  A) Timeliness
                  B) Integrity
                  C) Objectivity
                  D) Professional competence and due care


                  2. AA manufactures computers. These are sold to BB at $100 a computer plus a 5% sales tax. BB subsequently sells the computers to CC for $200 a computer plus a 5% sales tax. C sells the computers to customers at $300 a computer plus a 5% sales tax.
                  The total tax received by the tax authority is $30.
                  Which type of tax is described above?

                  A) Value added tax
                  B) Multi-stage cumulative sales tax
                  C) Retail tax
                  D) Single-stage sales tax


                  3. STU has a non-current asset which originally cost $250,000, has an expected life of 8 years and an estimated residual value of $25,000. The asset is depreciated at 25% a year on a reducing balance basis On 1 July 20X5 the accumulated depreciation for this asset is $109,375 What is the depreciation charge for the year ending 30 June 20X6?
                  Give your answer to the nearest whole number.


                  4. Identify whether the scenarios below are examples of tax evasion or tax avoidance, by placing either tax evasion of tax avoidance against each one.


                  5. ABC has the following working capital ratios at 31 December 20X2:
                  During the year ended 31 December 20X4 credit purchases were $1,700,000 and at 31 December 20X4 the outstanding trade payables balance was $340,000

                  Calculate the working capital cycle for ABC.
                  Give your answer to the nearest whole number of days and assume there are 365 days in a year.


                  Solutions:

                  Question # 1
                  Answer: A
                  Question # 2
                  Answer: B
                  Question # 3
                  Answer: Only visible for members
                  Question # 4
                  Answer: Only visible for members
                  Question # 5
                  Answer: Only visible for members

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