CIMA F2 real dump : Advanced Financial Reporting

  • Exam Code: F2
  • Exam Name: Advanced Financial Reporting
  • Updated: Nov 04, 2026
  • Q&As: 212 Questions and Answers

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CIMA F2 Exam Syllabus Topics:

SectionWeightObjectives
Financing Capital Projects15%- Sources of long-term finance
- Capital structure theories
- Cost of capital calculations
Group Accounts35%- Foreign currency consolidation
- Consolidated financial statements
- Goodwill and non-controlling interest
- Associates and joint ventures
Financial Reporting Standards25%- Revenue recognition (IFRS 15)
- IFRS framework and application
- Financial instruments (IFRS 9)
- Leases (IFRS 16)
Integrated Reporting10%- Integrated reporting framework
- Sustainability and non-financial disclosures
Analysing Financial Statements15%- Limitations of financial analysis
- Impact of accounting policies
- Ratio analysis and interpretation

CIMA Advanced Financial Reporting Sample Questions:

Question #1

ST acquired 80% of the equity shares of AB on 1 January 20X7. AB acquired 60% of the equity shares of UV on 1 January 20X8. Profit for the year ended 31 December 20X9 for AB is $160,000 and for UV is
$100,000.
Calculate the non-controlling interest figure to be included within ST's consolidated statement of profit or loss for the year ended 31 December 20X9.
Give your answer to the nearest whole number in $000s.
$ ?

Reveal Solution  Discussion  0

Correct Answer:

84000, 84

Question #2

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?

  • A. False
  • B. True
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Question #3

WX acquired 60% of the equity shares of CD on 1 January 20X3. WX sold 5% of the equity shares it held for $60,000 on 31 December 20X5. At that date the net assets of CD were $120,000 and the fair value of the non-controlling interest in CD was measured at $21,000. No goodwill arose on the original acquisition of CD.
When preparing its consoldiated financial statements, WX will process which of the following adjustments to its group retained earnings?

  • A. A debit of $54,000
  • B. A debit of $39,000
  • C. A credit of $54,000
  • D. A credit of $39,000
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Question #4

On 30 November 20X9 OPQ acquires a financial asset that is classified as Available for Sale.
Which of the following describes the value of the financial asset on the date of acquisition?

  • A. Fair value including transaction costs.
  • B. Present value excluding transaction costs.
  • C. Fair value excluding transaction costs.
  • D. Present value including transaction costs.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Question #5

Information from the financial statements of an entity for the year to 31 December 20X5:
The gearing ratio calculated as debt/equity and interest cover are:

  • A. gearing of 15% and interest cover of 4.
  • B. gearing of 16% and interest cover of 6.
  • C. gearing of 15% and interest cover of 6.
  • D. gearing of 16% and interest cover of 4.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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