Prepare with CIMA F2 exam practice material, pass for sure
Updated: Sep 22, 2026
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CIMA F2 Exam Overview:
| Certification Vendor: | CIMA (Chartered Institute of Management Accountants) |
|---|---|
| Exam Name: | Advanced Financial Reporting |
| Exam Number: | F2 |
| Available Languages: | English |
| Exam Price: | Varies by region (approximately GBP 120–180) |
| Exam Format: | Multiple Choice Questions, Computer-Based Exam, Objective Test (OT) |
| Passing Score: | 100/150 (scaled score) |
| Exam Duration: | 90 minutes |
| Certificate Validity Period: | No fixed expiry for individual exam pass; counts toward full CIMA qualification progression |
| Real Exam Qty: | 60 (objective test, multiple choice) |
| Related Certifications: | CIMA P2 Advanced Management Accounting CIMA Management Level CIMA E2 Enterprise Management |
| Recommended Training: | Kaplan CIMA Courses CGMA Official Learning Resources BPP CIMA Training |
| Exam Registration: | CIMA Exam Booking CIMA Official Qualification Information |
| Sample Questions: | CIMA F2 Sample Questions |
| Exam Way: | Computer-based exam delivered via Pearson VUE test centers and online proctoring where available |
| Pre Condition: | No strict prerequisite; typically taken within CIMA Management Level (E2, P2, F2) progression after or alongside Operational Level |
| Official Syllabus URL: | https://www.cimaglobal.com/Qualifications/CIMA-Professional-Qualification/ |
CIMA F2 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Group Financial Statements | - Business combinations - Associates and joint arrangements - Consolidated financial statements |
| Interpretation of Financial Statements | - Performance evaluation - Financial ratio analysis |
| Financial Reporting Framework | - Conceptual framework of financial reporting - Regulatory environment and standards (IFRS overview) |
| Financial Statements | - Preparation and presentation of financial statements - Statement of cash flows |
| Specialised Financial Reporting Topics | - Financial instruments - Changes in accounting policies and estimates - Events after reporting period |
CIMA Advanced Financial Reporting Sample Questions:
AB and CD are separate entities that prepare financial statements to 31 May using international accounting standards. AB and CD provide technical support services to the financial services industry and operate in the same country. The financial statements are identical except for the following:
* AB purchased all operating equipment, paying $100,000, using a 5 year bank loan. The useful life of the equipment was 5 years.
* CD signed an operating lease agreement for all operating equipment for 5 years paying
$20,000 per year.
Both entities charge all expenses relating to the equipment to cost of sales.
From the information provided, which of the following ratios would be reliably comparable for AB and CD?
- A. Non current asset turnover
- B. Profit before tax margin
- C. Gross profit margin
- D. Return on capital employed
Correct Answer: C 🗳️
AB acquired 10% of the equity share capital of XY on 1 January 20X7 for $180,000 when the fair value of XY's net assets was $190,000. On 1 January 20X9 AB purchased a further 50% of the equity share capital for $550,000 when the fair value of XY's net assets was $820,000.
The original 10% investment had a fair value of $200,000 at the date control of XY was gained. The non controlling interest in XY was measured at its fair value of $300,000 at 1 January 20X9.
Which of the following represents the correct value of goodwill arising on the acquisition of XY that would have been included by AB when it prepared its consolidated financial statements at 31 December
20X9?
- A. $230,000
- B. $210,000
- C. $40,000
- D. $30,000
Correct Answer: A 🗳️
Which of the following are limitations of financial statement figures for ratio analysis? Select the ALL that apply.
- A. Only provides historic data
- B. Contains complicated information that needs to be summarised
- C. Only provides financial information
- D. Provide only summarised information
- E. Only provides forecast data
- F. Limited information to identify trends over time
Correct Answer: A,C,D,F 🗳️
W and Y are very similar entities with the same level of profit before interest and tax. However, W has gearing of 95% and Y has gearing of 30%.
Which of the following statements is true?
- A. Y has a greater commitment to meet interest payments than W.
- B. Investors in Y will expect a higher return than investors in W.
- C. A greater proportion of profit will be available out of which to declare a dividend in W.
- D. Investing in W carries a higher level of risk than investing in Y.
Correct Answer: D 🗳️
Which THREE of the following would typically indicate a finance lease?
- A. A leased asset has been specifically modified for the lessee's use.
- B. The lease contract for an asset includes an upgrade to the asset every two years.
- C. The lessor is responsible for the annual maintenance of the asset.
- D. The lessee has the option to buy the asset at the end of the lease for $1.
- E. An asset with a useful life of ten years is being leased for ten years.
Correct Answer: A,D,E 🗳️
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