High passing rate, high hit rate

Our product boosts both the high passing rate which is about 98%-100% and the high hit rate to have few difficulties to pass the test. Our F1 exam simulation is compiled based on the resources from the authorized experts' diligent working and the real exam and confer to the past years' exam papers thus they are very practical. The content of the questions and answers of F1 exam questions: Financial Reporting is refined and focuses on the most important information. To let the clients be familiar with the atmosphere and pace of the real exam we provide the function of stimulating the exam. Our expert team updates the F1 study guide frequently to let the clients practice more. So the quality of our product is very high and we can guarantee to you that you will have few difficulties to pass the exam.

Convenient and fast refund procedures

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Little time and energy needed

The clients only need 20-30 hours to learn the F1 exam questions: Financial Reporting and prepare for the test. Many people may complain that we have to prepare for the test but on the other side they have to spend most of their time on their most important things such as their jobs, learning and families. But if you buy our F1 study guide you can both do your most important thing well and pass the test easily because the preparation for the test costs you little time and energy.

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CIMA F1 Exam Syllabus Topics:

CIMA Financial Reporting Sample Questions:

1. T T T is an online retailer. It has 1,000 units of Product X in inventory at the year end. The following information relates to Product X:

What is the amount that should be included in the cost of TTT's inventory of Product X?

A) $25,350
B) $20,000
C) $22,150
D) $20,450

2. In an entity's statement of profit or loss and other comprehensive income, which of the following would be presented as other comprehensive income?

A) An increase in the depreciation charge resulting from the revaluation of a non-current asset.
B) An impairment loss relating to a non-current asset that had not previously been revalued.
C) The profit on the disposal of a non-current asset
D) The increase in the value of a non-current asset following a revaluation.

3. The IV Group is formed of I Ltd and its subsidiary company V Ltd. I Ltd purchased 67% of V Ltd's ordinary share capital on 31 March 20X3.
The purchase cost I Ltd £129,000. At the date of purchase V Ltd's net assets were £155,000 while its share capital was £37,000. NCI fair value on the date of acquisition was £31,000.
What was the amount of goodwill I Ltd paid as part of the acquisition. Calculate this figure using both the proportion of net assets method and the full good will method for valuing the non-controlling interest.

A) Full goodwill method = £57,000
B) Proportion of net assets method = £5,000
C) Proportion of net assets method = £25,150
D) Full goodwill method = £25,150
E) Full goodwill method = £5,000
F) Proportion of net assets method = £77,150

4. UV has recently been having cash flow issues due to its credit customers paying after the credit period they have been granted.
UV is looking into factoring the receivables to a factoring company on a recourse basis to improve its cash flow.
Which TWO of the following will UV encounter as a result of employing the factoring company?

A) Reduction in bank overdraft charges
B) No irrecoverable debts
C) Reduction in the need for management control
D) Reduction in payables days
E) Increase in cash sales

5. When a trading loss is incurred by an entity, the entity may be able to claim loss relief. The way in which loss relief is claimed vanes from country to country.
Which of the following is NOT normally a way of claiming loss relief for a trading loss?

A) Offset the trading loss against group entity profits.
B) Carry the trading loss backwards against trading profits in previous periods.
C) Offset The trading loss against its trading profits in future periods
D) Offset the trading loss against capital gams in previous periods

Solutions: