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CIMA Financial Reporting follows objectives published by CIMA, so preparation should stay aligned with the official outline. Actual4dump organizes 247 F1 practice questions around those exam areas to support focused review.
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CIMA F1 Exam Overview:
| Certification Vendor: | CIMA (Chartered Institute of Management Accountants) |
|---|---|
| Exam Name: | Financial Reporting |
| Exam Number: | F1 |
| Real Exam Qty: | 60 |
| Available Languages: | English |
| Exam Price: | £110 / $135–$150 USD (varies by region) |
| Certificate Validity Period: | No expiry (module credit valid while qualification active) |
| Passing Score: | 100 out of 150 scaled score (~67%) |
| Exam Duration: | 90 minutes |
| Exam Format: | Multiple Choice, Objective Test, Number Entry, Multiple Response, Drag and Drop |
| Related Certifications: | CIMA Professional Qualification CGMA (Chartered Global Management Accountant) |
| Recommended Training: | CIMA Approved Learning Partners Official CIMA Study Materials |
| Exam Registration: | Official CIMA Registration & Booking Pearson VUE Exam Scheduling |
| Sample Questions: | DOWNLOAD DEMO |
| Exam Way: | Computer-based, on-demand at Pearson VUE test centers or online proctored |
| Pre Condition: | CIMA Certificate in Business Accounting (Cert BA) or relevant degree / professional qualification for exemption; basic English and mathematics proficiency |
| Official Syllabus URL: | https://www.cimaqualification.com/operational-level/f1-financial-reporting |
CIMA F1 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Principles of Taxation | 20% | - Current tax calculation - Deferred tax concepts - Indirect taxes overview - Tax system and types of taxes |
| Financial Statements | 45% | - Application of IFRS standards
- Interpretation and analysis of financial statements |
| Managing Cash and Working Capital | 25% | - Working capital cycle and objectives - Cash management and forecasting - Management of receivables, inventory and payables - Short-term financing options |
| The Regulatory Environment of Financial Reporting | 10% | - IFRS Foundation and IASB structure - Principles vs rules-based regulation - Ethics in financial reporting - Conceptual framework and regulatory bodies |
CIMA Financial Reporting: Frequently Asked Questions
The F1 exam leads to the CIMA Diploma in Management Accounting (CIMA Dip MA), CIMA Operational Level certification from CIMA (Chartered Institute of Management Accountants). It is positioned at the Operational level. The exam validates the knowledge and skills expected of candidates preparing for CIMA Financial Reporting.
Related certifications include:
- CIMA Professional Qualification
- CGMA (Chartered Global Management Accountant)
The F1 exam includes 60 questions and allows 90 minutes. Before test day, divide the available time by the number of questions in a timed practice set to establish a steady per-question pace. If a difficult item starts consuming too much time, mark it for review and move forward instead of losing momentum. A full timed practice session can help you decide when to move on, when to return, and how much buffer to reserve for a final check.
The passing score for F1 is 100 out of 150 scaled score (~67%), and the official exam fee is £110 / $135–$150 USD (varies by region). Because a retake requires paying the exam fee again, use timed practice results as a readiness check before scheduling your next attempt. If your performance remains inconsistent, continue reviewing weak domains and repeat a timed session before booking the exam.
CIMA Certificate in Business Accounting (Cert BA) or relevant degree / professional qualification for exemption; basic English and mathematics proficiency
Eligibility rules can change, so confirm the current requirements on the official exam page before registering.
You can register through the official channels listed below:
The available exam delivery method is Computer-based, on-demand at Pearson VUE test centers or online proctored.
The official training options include:
After reviewing the recommended training, reinforce what you learned with Actual4dump's 247 practice questions for F1.
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The current F1 outline is organized into 4 top-level domains. The first listed areas include:
- Principles of Taxation (20%)
- The Regulatory Environment of Financial Reporting (10%)
- Managing Cash and Working Capital (25%)
Review the Exam Topics section above for the complete outline and any nested subtopics.
CIMA Financial Reporting Sample Questions:
Question 1
Which of the following would be found under the heading "other comprehensive income" in the statement of total comprehensive income?
A. Income from investments
B. Gain or loss on revaluation of a non-current asset
C. Dividends paid
D. Increase or decrease in provision for irrecoverable debts
Question 2
Which of the following is an example of a progressive tax?
A. Personal income tax of 10% and corporate income tax of 20%
B. Corporate income tax of 20% on all earnings
C. Personal income tax of 10% on earnings up to $10,000, then at 15% over $10,001
D. Corporate income tax of 20% on earnings up to $100,000, then at 10% over $100,000
Question 3
On 1 January 20X2 an entity began work on constructing a factory. It purchased the land for $14 million, built the factory buildings for $11 million and installed plant and equipment for $7 million. The project was completed on 31 December 20X3 when the factory was deemed ready to use, however, the factory did not start operations until 1 June 20X4.
To fund the project the entity borrowed $25 million on 1 January 20X2, with interest at 10% per year.
The loan was repaid in full on 31 December 20X4.
Calculate the total amount to be added to the cost of property, plant and equipment in respect of the above development.
Give your answer to the nearest $ million.
Question 4
Which THREE of the following matters should an entity consider when determining the credit terms granted to a customer?
A. Typical credit terms operating within the industry
B. Risk of non-payment
C. Bargaining power of the customer
D. Number of suppliers
E. Discount offered by suppliers for early payment
F. Selling price of the goods being sold to the customer
Question 5
Which of the following is a feature of a direct tax?
A. It cannot be related to the individual circumstances of the tax payer.
B. It is levied on one part of the economy with the intention that it will be passed on to another.
C. It is not levied on the eventual payer of the tax.
D. The formal incidence and effective incidence are usually the same.
Solutions:
| Question 1 Answer: B | Question 2 Answer: C | Question 3 Answer: Only visible for members | Question 4 Answer: A,B,C | Question 5 Answer: D |
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