Financial Reporting (F1)
150 questions mapped to the current AICPA & CIMA Operational Level blueprint (2026/27). Covers the regulatory and conceptual framework, accounting for transactions under key IFRS standards (IAS 2, 8, 10, 12, 16, 21, 36, 37, 38, 40; IFRS 3, 9, 15, 16), business taxation and working capital management, and preparation of group financial statements including goodwill and non-controlling interests. Switch to Exam Sim mode for a timed CIMA F1 mock exam: 60 questions, 90 minutes.
→ F1 Common Mistakes & Exam Technique: the errors that catch F1 students out, and how to avoid them.
The F1 exam format
| Format | Computer-based objective test. All questions are compulsory. |
|---|---|
| Length | 90 minutes, 60 questions. |
| Scoring | Reported as a scaled score from 0 to 150. Questions are weighted by difficulty, so the scaled score is not a straight percentage of questions answered correctly. |
| Pass mark | 100 out of 150. |
| Case Study | Separate from this exam. The Operational Case Study is sat after the three operational-level objective tests and has its own pass mark of 80 out of 150. |
Always check the current exam format on the AICPA & CIMA website before you sit.
F1 Formula Sheet: all key formulas on one printable A4 page. Free to download, or see what's on it.
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