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CIMA F2 Exam Overview:
| Certification Vendor: | Chartered Institute of Management Accountants (CIMA) |
| Exam Name: | Advanced Financial Reporting |
| Exam Number: | F2 |
| Exam Price: | Varies by region/centre (bookable via CIMA/Pearson VUE) |
| Exam Duration: | 90 minutes |
| Passing Score: | 100 out of 150 (scaled ~67%) |
| Real Exam Qty: | 60 |
| Certificate Validity Period: | N/A |
| Exam Format: | Computer-based Objective Test (multiple choice, multiple response, fill-in, drag-and-drop) |
| Available Languages: | English |
| Related Certifications: | CIMA CGMA Professional Qualification CIMA Advanced Diploma in Management Accounting |
| Sample Questions: | CIMA F2 Sample Questions |
| Exam Way: | Computer-based Objective Test via Pearson VUE centres worldwide or online |
| Pre Condition: | Completion of CIMA Operational Level (E1, P1, F1 and Operational Case Study) or equivalent exemption |
| Official Syllabus URL: | https://www.aicpa-cima.com/resources/landing/management-level |
CIMA F2 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Financial reporting standards | 25% | |
| Topic 2: Integrated reporting and sustainability reporting | 10% | |
| Topic 3: Analysing financial statements | 25% | |
| Topic 4: Group accounts | 25% | |
| Topic 5: Financing capital projects | 15% |
CIMA Advanced Financial Reporting Sample Questions:
1. XY has in issue a 6% convertible bond which is redeemable at par or convertible into equity shares in one year's time. The conversion terms are 20 equity shares for each $100 of convertible bond. The conversion value in one year's time is expected to be $105 per $100 nominal of the bond based on the current share price of $5.25.
Which of the following statements about the bond is correct?
A) If the bond is redeemed rather than converted that means that the investor will receive $105 for each
$100 of nominal value.
B) The yield to maturity of the convertible bond is a constant 6%.
C) XY's post tax cost of debt for the convertible bond will be higher than the yield to maturity.
D) The bond will be converted into equity shares in one year's time if the share price does not change.
2. MN had the following profit figures for the year ended 30 November 20X6:
MN's statement of financial position at 30 November 20X6 included the following:
Calculate return on capital employed for MN for the year ended 30 November 20X6.
Give your answer to one decimal place.
? %
3. The basic earning per share computed by a company for year ended 31st March 20X7 is £2 per share.
The company had certain convertible debentures outstanding as on 31st March 20X7. The conversion of debentures to equity shares would result in the earnings per share to be £2.2. Which of the following should the company disclose?
A) Diluted earnings per share only
B) Neither basic nor diluted earnings per share
C) Both basic and diluted earnings per share
D) Basic earnings per share only
4. Taking each statement individually, which of the following explains the movement in the gross profit margin from 20X4 to 20X5 as calculated by the analysts?
A) Reduction in the cost of raw materials NOT passed onto customers.
B) Increase in the levels of closing inventory of raw materials.
C) Increase in the volume of sales over the year.
D) Prompt payment discounts no longer offered to customers.
5. On 1 January 20X4 JK had 1,500,000 ordinary shares in issue. On 1 September 20X4 JK issued 600,000 ordinary shares at the market value of $2.50 a share. For the financial year ended 31 December 20X4 the statement of profit or loss shows profit before tax of $625,000 and profit after tax of $500,000.
What is the earnings per share for the year ended 31 December 20X4?
A) 26.3 cents
B) 23.8 cents
C) 36.8 cents
D) 29.4 cents
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: Only visible for members | Question # 3 Answer: D | Question # 4 Answer: A | Question # 5 Answer: D |
By Merle
