Available Number of Questions: Maximum of
248 Questions
Exam Name: F2 Advanced Financial Reporting
Related Certification(s):
CIMA Professional Qualification Certification
CIMA CIMAPRA19-F02-1 Exam Topics - You’ll Be Tested in Actual Exam
The CIMA CIMAPRA19-F02-1 exam covers a range of critical topics that are essential for aspiring management accountants. It delves into the fundamentals of financial accounting, where you'll learn to interpret and analyze financial statements, understand the principles of accounting standards, and apply these concepts to make informed business decisions. Building on this foundation, the exam explores the crucial role of management accounting in strategic decision-making. You'll discover how to use management accounting techniques to evaluate performance, allocate resources effectively, and provide valuable insights to support organizational strategies. Additionally, the CIMAPRA19-F02-1 exam emphasizes the importance of governance, risk, and ethics in the field of management accounting. You'll study the frameworks and practices that ensure ethical conduct, mitigate risks, and promote good governance within organizations. By understanding these concepts, you can contribute to the development of robust risk management strategies and maintain high standards of integrity in your professional practice. Furthermore, the exam covers the application of technology and digital solutions in management accounting. It explores how technology can enhance efficiency, accuracy, and decision-making processes. You'll learn about the latest tools and systems used in management accounting, such as ERP systems and data analytics, and how they can be leveraged to drive organizational success. Finally, the CIMAPRA19-F02-1 exam assesses your understanding of performance management and the techniques used to measure and improve organizational performance. You'll study key performance indicators, balanced scorecards, and other tools that enable organizations to track progress, identify areas for improvement, and make data-driven decisions. By mastering these topics, you'll be well-equipped to contribute to the strategic direction of organizations and drive their success through effective management accounting practices.
CIMA CIMAPRA19-F02-1 Exam Short Quiz
Attempt this CIMA CIMAPRA19-F02-1 exam quiz to self-assess your preparation for the actual CIMA F2 Advanced Financial Reporting exam. CertBoosters also provides premium CIMA CIMAPRA19-F02-1 exam questions to pass the CIMA F2 Advanced Financial Reporting exam in the shortest possible time. Be sure to try our free practice exam software for the CIMA CIMAPRA19-F02-1 exam.
1of 0 questions |
CIMA CIMAPRA19-F02-1 Exam Quiz
✓ 0 answered
🔖 0 bookmarked
CIMACIMAPRA19-F02-1
Q1:
Operating segments are separately reportable where they exceed 15% of revenue / profits / assets. These must in total cover 80% of total revenue. Is this statement true or false?
○
ATrue
○
BFalse
CIMACIMAPRA19-F02-1
Q2:
ST has sold its main office property, which had a carrying value of $360,000,to AB, a property management entity.
The property was sold for $400,000 which isequal to itsfair value and was immediately leased back under an operating lease agreement.
Which of the following journals will record this transaction?
○
AOption
○
BOption
○
COption
CIMACIMAPRA19-F02-1
Q3:
AB acquired a financial investment on 1 January 20X9, incurring $5,000 related agency fees. AB initially classified the investment as held for trading, in accordance with IAS 32 Financial Instruments: Presentation.
Which of the following statements reflects the accounting treatment that AB adopted in respect of this investment when it prepared its financial statements to 31 December 20X9?
○
AAgency fees were recorded as an expense and the gain/loss on the remeasurement of the investment at the year end was recorded in profit or loss for the year.
○
BAgency fees were recorded as an expense and the gain/loss on the remeasurement of the investment at the year end was recorded in other comprehensive income.
○
CAgency fees were added to the cost of the investment and the gain/loss on the remeasurement of the investment at the year end was recorded in profit or loss for the year.
○
DAgency fees were added to the cost of the investment and the gain/loss on the remeasurement of the investment at the year end was recorded in other comprehensive income.
CIMACIMAPRA19-F02-1
Q4:
Which THREE of the following statements are true in relation to financial assets designated as fair value through profit or loss under IAS 39 Financial Instruments: Recognition andMeasurement?
☐
ASharesin another entity held for short term trading purposes fall within this category.
☐
BTransaction costs in relation to these assets are expensed to profit or loss on acquisition.
☐
CTransaction costs in relation to these assets areadded to theinitial cost of the asset on acquisition.
☐
DThe gainor loss on thesubsequent measurement of these assetsisrecordedwithin other comprehensive income.
☐
EThe gain or loss on the subsequent measurement of these assets is recorded within profit for the year.
☐
FOncethe asset has beensubsequentlymeasured to fair value an impairment review is undertaken.
CIMACIMAPRA19-F02-1
Q5:
RST sells computer equipment and prepares its financial statements to 31 December.
On 30 September 20X5 RST soldcomputer software along with a two year maintenance package to a customer. The customer is given the right to return the goods within six months and claim a full refund if they are not satisfied with the computer software. The risk of return is considered to be insignificant for RST.
How should the revenue from this transaction and the right of return be recognised in thefinancial statements for the year ended 31 December 20X5?
○
ARecognise 100% of the revenue from both the sale of goods and the maintenance contract and create aprovision for the anticipated level of returns.
○
BDo not recognise any revenue from the sale of goods or the maintenance contract and do not create aprovision for the anticipated level of returns.
○
CRecognise 12.5% of the revenue from both the sale of goods and the maintenance contract and do not create aprovision for the anticipated level of returns.
○
DRecognise 100% of the revenue from the sale of goods,12.5% of the revenue from the maintenance contract and create aprovision for the anticipated level of returns.
