CIMA F1 : Financial Reporting

F1 real exams

Exam Code: F1

Exam Name: Financial Reporting

Updated: Jun 02, 2026

Q & A: 247 Questions and Answers

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CIMA Financial Reporting Sample Questions:

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

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


2. An entity has a working capital cycle of 120 days which has been calculated in part from the following data:

What is the stock holding period on the basis of 365 days in a year?
Give your answer to the nearest whole day.


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 familiarity
B) Familiarity and self-interest
C) Intimidation and self-interest
D) Self-review and advocacy


4. In accordance with the Conceptual Framework for Financial Reporting, which of the following describes the historical cost measurement basis for an asset?

A) The amount that would be received on the sale of the asset.
B) The amount paid when the asset was purchased.
C) The cost to acquire an equivalent asset at the measurement date.
D) The present value of future cash flows generated from the asset.


5. Which of the following does the phrase 'events after the reporting period' refer to?

A) Material events which occur before the statement of financial position date
B) Material events which occur after the release of the statement of financial position
C) Material events which occur between the statement of financial position date and the date on which the financial statements are approved
D) Material events which occur between the income statement date and the statement of financial position date


Solutions:

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

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