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Financial Accounting and Tax Principles

We have developed a range of support downloads based on different aspects of the qualification. The study guides below are useful if you are studying paper P7 Financial Accounting and Tax Principles.

You will need Adobe Acrobat software to view the PDF files. If you do not have this installed on your computer, you can download it free from the Adobe website.

Guide 1 - Syllabus overview and transition arrangements (PDF 90KB)

Guide 8 - Notes for students planning to sit paper P7 Financial Accounting and Tax Principles (PDF 72KB)

Guide 13 - Suggested study routes (PDF 74KB)

Guide 14 - Verbs, learning outcomes and syllabus content (PDF 53KB)

Guide 15 - International Financial Reporting Standards and Interpretations in relation to the CIMA syllabus and exams (PDF 59KB)

P7 - questions from tutors and examiner's answers (PDF 119KB)

The following three Managerial level exam papers will have new section weightings as from the May 2007 diet:

Paper P1 Management Accounting Performance Evaluation
Paper P4 Organisational Management and Information Systems
Paper P7 Financial Accounting and Tax Principles

The new section weightings for these three exam papers will be as follows:

Section A - 40 marks (previously 50 marks)
Section B - 30 marks (previously 30 marks)
Section C - 30 marks (previously 20 marks)

From the May 2007 exam diet, Section C of Paper P7 Financial Accounting and Tax Principles will contain one compulsory question covering the preparation of at least two of the three key financial reporting statements - the income statement, balance sheet and cash flow statement.

This change to section C of paper P7 is the only change to the assessment format for any exam papers. The assessment format for sections A and B of paper P7 will remain unchanged.

Download examples below:

P7 - example questions and answers for new compulsory section C effective from May 2007 (PDF 248KB)

Note: For papers P1 and P4, the assessment format for sections A, B and C remains unchanged and is as follows:

• Section A - a variety of compulsory objective test questions each worth between two and four marks
• Section B - six compulsory short answer questions, each worth five marks
• Section C - one question from a choice of two
  

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