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.
- Principles of business taxation (25%)
- Regulation and ethics of financial reporting (15%)
- Financial accounting and reporting (60%).
- Resit exam date: 26th August 2014
- Exam booking dates: find out more
- Exam duration: 3 hours, plus 20 minutes of pre-exam reading time.
The F1 exam is divided in to 3 sections.
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.