Summer Special Limited Time 60% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: big60

Page: 1 / 18

CIMA Operational Financial Reporting

Financial Reporting

Last Update Jul 1, 2025
Total Questions : 248

To help you prepare for the F1 CIMA exam, we are offering free F1 CIMA exam questions. All you need to do is sign up, provide your details, and prepare with the free F1 practice questions. Once you have done that, you will have access to the entire pool of Financial Reporting F1 test questions which will help you better prepare for the exam. Additionally, you can also find a range of Financial Reporting resources online to help you better understand the topics covered on the exam, such as Financial Reporting F1 video tutorials, blogs, study guides, and more. Additionally, you can also practice with realistic CIMA F1 exam simulations and get feedback on your progress. Finally, you can also share your progress with friends and family and get encouragement and support from them.

Questions 2

Which of the following is NOT a source of short-term finance?

Options:

A.  

Increase in trade receivables

B.  

Increase in trade payables

C.  

Debt factoring

D.  

Increase in a bank overdraft

Discussion 0
Questions 3

Which THREE of the following must an auditor consider in order to form an opinion on the truth and fairness of an entity's financial statements?

Options:

A.  

Whether the entity has kept proper accounting records.

B.  

Whether the entity has complied with the relevant legislator requirements in respect of the necessary disclosures.

C.  

Whether all the information and explanations necessary for the purposes of the audit have been received.

D.  

Whether every transaction that underpins the financial statements has been correctly recorded.

E.  

Whether the entity has been exposed to any fraud.

Discussion 0
Questions 4

An entity purchased equipment on 1 April 20X4 for $200,000. The equipment was depreciated using the reducing balance method at 20% a year.

Depreciation was charged up to and including 31 March 20X7. At that date the recoverable amount of the equipment was $94,000.

Calculate the impairment loss on the equipment in accordance with IAS 36 Impairment of Assets.

Give your answer to the nearest whole $.

Options:

Discussion 0
Questions 5

Statements of financial position for YZ, BC and DE at 31 March 20X2 include the following balances:

Questions 5

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 value of inventory that will be included in YZ's consolidated statement of financial position at 31 March 20X2.

Give your answer to the nearest whole $.

Options:

Discussion 0
Freddy
I passed my exam with flying colors and I'm confident who will try it surely ace the exam.
Aleksander Sep 26, 2024
Thanks for the recommendation! I'll check it out.
Yusra
I passed my exam. Cramkey Dumps provides detailed explanations for each question and answer, so you can understand the concepts better.
Alisha Aug 29, 2024
I recently used their dumps for the certification exam I took and I have to say, I was really impressed.
Nell
Are these dumps reliable?
Ernie Oct 10, 2024
Yes, very much so. Cramkey Dumps are created by experienced and certified professionals who have gone through the exams themselves. They understand the importance of providing accurate and relevant information to help you succeed.
Zayaan
Successfully aced the exam… Thanks a lot for providing amazing Exam Dumps.
Harmony Sep 10, 2024
That's fantastic! I'm glad to hear that their dumps helped you. I also used them and found it accurate.

F1
PDF

$79.6  $199

F1 Testing Engine

$90  $225

F1 PDF + Testing Engine

$99.6  $249