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CIMA F2 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Integrated Reporting | 10% | - Integrated reporting framework - Sustainability and non-financial disclosures |
| Financing Capital Projects | 15% | - Capital structure theories - Sources of long-term finance - Cost of capital calculations |
| Financial Reporting Standards | 25% | - Leases (IFRS 16) - Financial instruments (IFRS 9) - IFRS framework and application - Revenue recognition (IFRS 15) |
| Analysing Financial Statements | 15% | - Impact of accounting policies - Ratio analysis and interpretation - Limitations of financial analysis |
| Group Accounts | 35% | - Foreign currency consolidation - Associates and joint ventures - Goodwill and non-controlling interest - Consolidated financial statements |
CIMA Advanced Financial Reporting Sample Questions:
YZ issued $100,000 6% convertible bonds at par on 1 January 20X5. The bondholders have the option to convert into equity shares in 3 years' time or redeem at par for cash on the same date.
Interest is paid annually in arrears and bonds issued by similar entities without conversion rights pay interest at 8%.
What is the value of equity to be recognised in YZ's statement of financial position as at 31 December
20X5?
Give your answer to the nearest whole $.
$?
Correct Answer:
5138
RS has issued an instrument with a nominal value of $1 million, at a discount of 2.5%, and a coupon rate of 6%. The terms of the issue are that the instrument must either be redeemed at par, at the option of the holder, in three years' time, or alternatively converted into equity shares in RS.
The characteristics of this instrument taken as a whole indicates that it would be classified as which of the following?
- A. Equity instrument
- B. Debt instrument
- C. Compound instrument
- D. Discounted instrument
Correct Answer: C 🗳️
LM acquired 15% of the equity share capital of ST on 1 January 20X6 for $18 million. LM acquired a further 50% of the equity share capital of ST for $50 million on 1 January 20X7 when the fair value of ST's net assets was $82 million. The original 15% investment in ST had a fair value of $20 million at 1 January 20X7. The non controlling interest in ST was measured at its fair value of $30 million at the date control in ST was acquired.
Calculate the goodwill arising on the acquisition of ST that LM included in its consolidated financial statements at 31 December 20X7.
Give your answer to the nearest $ million.
$ ? million
Correct Answer:
18, 18000000
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. 29.4 cents
- B. 26.3 cents
- C. 36.8 cents
- D. 23.8 cents
Correct Answer: A 🗳️
Which of the following are limitations of financial statement figures for ratio analysis? Select the ALL that apply.
- A. Provide only summarised information
- B. Only provides historic data
- C. Contains complicated information that needs to be summarised
- D. Only provides financial information
- E. Limited information to identify trends over time
- F. Only provides forecast data
Correct Answer: A,B,D,E 🗳️
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