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CIMAPRA19-F01-1 Exam Dumps

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Description

Exam Name: F1 Financial Reporting
Exam Code: CIMAPRA19-F01-1
Related Certification(s): CIMA Professional Qualification Certification
Certification Provider: CIMA
Number of CIMAPRA19-F01-1 practice questions in our database: 248
Expected CIMAPRA19-F01-1 Exam Topics, as suggested by CIMA :

  • Module 1: Explain specific financial reporting standards/ Managing cash and working capital
  • Module 2: Idendtify regulators and describe their role/ Explain and calculate operating and cash cycles
  • Module 3: Apply different techniques used to manage working capital/ Regulatory environment of financial reporting
  • Module 4: Distinguish between the types and sources of short-term finance/ Apply corporate governance principales to financial reporting
  • Module 5: Apply financial reporting standards to prepare basic financial statements/ End of topic revision and question practice
  • Module 6: Indentify the main elements of financial statements/ Revise and practice questions under exam conditions

Description

Exam Name: F1 Financial Reporting
Exam Code: CIMAPRA19-F01-1
Related Certification(s): CIMA Professional Qualification Certification
Certification Provider: CIMA
Number of CIMAPRA19-F01-1 practice questions in our database: 248
Expected CIMAPRA19-F01-1 Exam Topics, as suggested by CIMA :

  • Module 1: Explain specific financial reporting standards/ Managing cash and working capital
  • Module 2: Idendtify regulators and describe their role/ Explain and calculate operating and cash cycles
  • Module 3: Apply different techniques used to manage working capital/ Regulatory environment of financial reporting
  • Module 4: Distinguish between the types and sources of short-term finance/ Apply corporate governance principales to financial reporting
  • Module 5: Apply financial reporting standards to prepare basic financial statements/ End of topic revision and question practice
  • Module 6: Indentify the main elements of financial statements/ Revise and practice questions under exam conditions

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Q1. An entity has an inventory holding period of 52 days. This means that the inventory:

A.takes 52 days to arrive after it has been ordered.

B. stays in the entity's warehouse for an average of 52 days before it is sold.

C. takes 52 days to manufacture.

D. takes 52 days to be paid for.

Correct Answer: B

Q2. An entity acquires 100% of the equity shares in another entity. The consideration paid for the shares is less than the fair value of the net assets acquired. Which of the following is the correct accounting treatment for the difference between the consideration paid and the fair value of the net assets acquired, in accordance with IFRS 3 Business Combinations?

A.Recognise as a gain in the consolidated statement of profit or loss.

B. Recognise as a deferred credit and release to consolidated profit or loss over its useful economic life.

C. Recognise as a deduction from goodwill in the consolidated statement of financial position.

D. Recognise as a gain in the statement of changes in equity.

Correct Answer: A

Q3. Which of the following is NOT a primary need for regulating financial reporting information of incorporated entities?

A.To improve the reliability of information for users.

B. To make information more consistent.

C. To make information more comparable.

D. To ensure that information is consistent with its legal form.

Correct Answer: D

$ 39

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