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CIMA F1 – Financial Operations

CIMA Paper F1 forms part of the Operational Level. You can sit this paper with any other Operational or Management level paper.

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F1 Syllabus Information

Aim of the syllabus

This paper's core objectives are preparation of full financial statements for a single company and the principal consolidated financial statements for a simple group.

Coverage of a wide range of international standards is implicit in these objectives. The understanding the regulatory and ethical context of financial reporting is vital.

Principles of taxation are included.

Topics covered

  • Principles of business taxation (25%)
  • Regulation and ethics of financial reporting (15%)
  • Financial accounting and reporting (60%).
  • Exam date: 20th November 2014
  • Exam booking dates: find out more
  • Exam duration: 3 hours, plus 20 minutes of pre-exam reading time.

Section A 20 marks: a variety of compulsory objective test questions, each worth between two and four marks. Mini scenarios may be given, to which a group of questions relate.

Section B 30 marks: six compulsory short answer questions, each worth five marks. A short scenario may be given, to which some or all questions relate.

Section C 50 marks: one or two compulsory questions. Short scenarios may be given, to which questions relate.

The required pass mark is 50%.

  • You must complete all 5 papers in the Certificate Level before progressing on to the CIMA Professional Qualification
  • AAT qualified students will be exempt from the Certificate Level and proceed straight to the Operational Level
  • Degree students may qualify for exemptions from the Operational Level depending on the content of your degree.
  • It is recommended that you sit and pass paper F1 before attempting F2.

Find out more about exemptions.

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F1 Financial Operations