F1 financial operations

On completion of this paper you will have learnt from the following topics:

  • Principles of business taxation – 25%
  • Regulation and ethics of financial reporting – 15%
  • Financial accounting and reporting – 60%

Minor syllabus changes for 2013

For F1 and F2, changes to accounting standards will be fully examinable in the main diet following the date in which the standard or revisions become mandatory for reporting entities.

For example, the standards having a mandatory adoption date for financial periods beginning on or after 1 January 2013 will be examined in the financial pillar from the May 2013 diet.

Study resources

Study guides F1: syllabus guide (PDF 79KB)
F1: area A – self study guide (PDF 82KB)
F1: area B – self study guide (PDF 62KB)
F1: area C – self study guide (PDF 89KB)
Exam papers and model answers March 2013 exam paper (PDF 92KB) and answers (PDF 92KB)
November 2012 exam paper (PDF 92KB) and answers (PDF 74KB)
September 2012 exam paper (PDF 115KB) and answers (PDF 95KB)

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Post exam guides March 2013 post exam guide (PDF 107KB)   
November 2012 post exam guide (PDF 107KB)  
September 2012 post exam guide (PDF 82KB)

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Useful articles Statement of cashflows (FM, June 2012) (PDF 451KB) 
The consolidated statement of financial position (FM,October 2011) (PDF 103KB)
The consolidated income statement (FM, November 2011) (PDF 489KB)
Contract costing (FM, June 2011) (PDF 179KB)

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Reading lists Core reading
CIMA Official Study Text Financial Operations 2011-2012 edition, 1st edition

Additional reading
Roads to ruin: a study of major risk events
Exam questions by learning outcome Learning outcomes examined at all past 2010 syllabus exam sittings (PDF 99KB)
Article looking at the importance of verbs in learning outcomes and exam questions (PDF 56KB) 
Tax rules May 2013 exam tax rules (PDF 14KB)