CIMA F1 Formula Sheet
The key formulas for CIMA F1 (Financial Reporting) on a single A4 page, free to download and print. Built to the paper's current examinable scope.
F1 Formula Sheet · PDF · 1 page · A4 · print-ready
Download the F1 formula sheetUpdated 25 September 2026: the sheet has been re-typeset with proper maths symbols, and the early settlement discount note now states that d is a decimal. If you printed an earlier copy, please download it again.
The formulas on the F1 sheet
The full sheet, reproduced as text so you can revise on screen. Last checked September 2026. Spotted an error? Report it and it will be corrected.
IAS 16 — Depreciation
- Straight-line = (Cost − Residual value) ÷ Useful life
- Reducing balance = NBV × Depreciation rate %
IAS 36 — Impairment
- Recoverable amount = higher of (Fair value − costs of disposal) and Value in use
- Impairment loss = Carrying amount − Recoverable amount
IFRS 16 — Leases (lessee only)
- Lease liability (initial) = PV of lease payments outstanding at commencement
- ROU asset (initial) = Lease liability + payments before commencement
- + initial direct costs − lease incentives received
- Finance charge (period) = Opening liability balance × discount rate
IAS 2 — Inventories
- Cost = Purchase price + import duties + directly attributable costs
- NRV = Estimated selling price − costs to complete − costs to sell
- Inventory valued at: lower of Cost and NRV
Principles of Taxation — Corporate Tax
- Taxable profit = Accounting profit ± tax adjustments
- Corporation tax liability = Taxable profit × Tax rate
- Capital allowances reduce taxable profit (accounting depreciation added back instead)
Cash & Working Capital
- Operating cycle (days) = Inventory days + Receivables days − Payables days
- Inventory days = Inventory ÷ Cost of sales × 365
- Receivables days = Trade receivables ÷ Credit sales × 365
- Payables days = Trade payables ÷ Credit purchases × 365
Inventory Management (EOQ)
- EOQ = √(2 × Co × D ÷ Ch)
- Co = order cost, D = annual demand, Ch = holding cost/unit/year
Early Settlement Discount Evaluation
- Annualised cost of NOT taking discount = (d ÷ (1−d)) × (365 ÷ (t − p))
- d = discount as a decimal, t = normal payment days, p = discount payment days
- Take discount if its annualised cost exceeds the cost of short-term finance
Cash Budgeting
- Closing cash balance = Opening balance + Receipts − Payments
How to use it
A formula sheet is a revision aid, not a substitute for practice. Reading formulas builds recognition; applying them under time pressure builds recall, and it's recall the exam tests. The most effective way to use this sheet is alongside questions: attempt a question first, then check the sheet only when you're stuck, rather than working with it open in front of you.
Print it and keep it beside you while you work through F1 questions. Once you stop reaching for it, you know the formulas are in place.
Test yourself on F1 with 150 free practice questions, worked explanations for every answer, and a timed mock exam mode. Start F1 practice →
This sheet is an original compilation of standard formulas mapped to CIMA F1's current examinable scope. It is a revision aid only and is not a substitute for the official formulae and rates provided in your exam. Looking for another paper? See all CIMA formula sheets. GoQualified is not affiliated with CIMA.