CIMA F1 - Financial Reporting and Taxation

CIMA F1 - Financial Reporting and Taxation

The Financial Reporting and Taxation (F1) certificate is an entry-level qualification in the CIMA Professional Qualification. It covers financial reporting, planning, control, and taxation

Focus

The CIMA F1 - Financial Reporting and Taxation certification focuses on Financial reporting, accounting standards, taxation, and control procedures

Exam Duration

The CIMA F1 - Financial Reporting and Taxation exam duration is 2.5 hours

Num of Question

The exam contains a total of 100 multiple-choice questions

Exam Fee

The exam fee is Depending on the country and location, the fee can be between £120 and £150.

Exam Validity

The CCRN-Pediatric certification is valid for However, please confirm with CIMA for their valid duration.

Prior Certification

• Nil prerequisites, although students may find it helpful to hold a Level 4 qualification in business and finance or an equivalent

Exam Format

The CIMA F1 - Financial Reporting and Taxation exam is a Computer-based assessment

Passing Conditions

To pass CIMA F1 - Financial Reporting and Taxation exam, applicants must achieve a minimum score of Pass the exam within 3 sittings, scored out of 100

Who Should Take

Individuals with a background in accounting and finance looking to develop skills in financial reporting, accounting standards, taxation, and control procedures

• Financial Analyst
• Accountant
• Financial Manager

Prerequisites

No direct work experience is required

Or can substitute with certifications:

• AAT Level 4 Diploma in Accounting or equivalent qualification
• The Association of International Accountants (AIA) or Institute of Certified Practising Accountants (ICPA Australia) qualification

Certification Process

• Step 1: Register for the exam with CIMA
• Step 2: Complete the exam within the allowed time frame and three sittings

Domains with Weights

• Business and Finance Information (20%): This domain is about being able to identify, gather, analyse, evaluate, and apply necessary financial, external and management accounting and financial management information from internal sources of information.
• Financial Reporting and Performance (40%): This domain covers the requirements for reporting and presenting financial and management information, preparing and presenting reports, assessing performance and making business judgment.
• Business Planning, Control and Taxation (30%): This domain requires students to be familiar with the taxation system, including calculating corporate taxes, plus developing knowledge of business planning, a general overview of management accounting areas, such as financial and cost control and using accounting data to make business decisions.