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CIMA F2 Advanced Financial Reporting — Information & Free Practice

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About CIMA F2 Advanced Financial Reporting

CIMA F2 Advanced Financial Reporting · GB

Key exam facts

Provider
The Chartered Institute of Management Accountants (CIMA), within AICPA & CIMA, provides the CGMA Professional Qualification F2 Objective Test; Pearson VUE delivers test-centre and online assessments.
Format
On-demand, computer-based, computer-marked Objective Test at Pearson VUE centres or online. Item formats include multiple choice, multiple response, number entry and drag and drop.
Exam questions
Total questions: 60.
Time limit
90 minutes of examination time; the 15-minute pre-examination tutorial is separate.
Passing score
A scaled score of 100 or above on the 0–150 scale; this is not a percentage-correct pass mark.
Exam fee
United Kingdom (Tier 1): GBP180 per Management Level Objective Test from 1 January 2026; GBP187 from 1 January 2027. Registration, subscriptions and tuition are separate charges.

Topics covered

  • Financing Capital Projects (15%)

    • Types and sources of long-term funds
    • Long-term debt and equity finance
    • Markets for long-term funds
    • Cost of long-term funds
    • Cost of equity
    • Cost of debt
    • Weighted average cost of capital

  • Financial Reporting Standards (25%)

    • Relevant financial reporting standards for revenue, leases, financial instruments, intangible assets and provisions
    • Revenue
    • Leases
    • Provisions
    • Financial instruments
    • Intangible assets
    • Income taxes
    • Changes in foreign currency rates
    • Relevant financial reporting standards for group accounts
    • Relevant IFRS for each

  • Group Accounts (25%)

    • Group accounts based on IFRS
    • Statement of financial position, statement of profit or loss and other comprehensive income, statement of changes in equity, and statement of cash flows
    • Additional disclosure issues related to the group accounts
    • Transactions between related parties
    • Earnings per share

  • Integrated Reporting and Sustainability Reporting (10%)

    • The Integrated Reporting Framework and accounting for sustainability
    • The role of the standard setting bodies for sustainability reporting
    • Integrated thinking
    • The Integrated Reporting Framework
    • The six capitals of integrated reporting
    • The measurement and disclosure issues of financial capital, manufactured capital, intellectual capital, human capital, social and relational capital, and natural capital
    • Sustainability reporting
    • IFRS Sustainability disclosure standards

  • Working with Financial Statements (25%)

    • Financial statements
    • Performance, position, adaptability, and prospects
    • Actions based on insights from the interpretation of financial statements
    • Recommend actions
    • The limitations of the tools used for interpreting financial statements
    • Data limitations and limitations of ratio analysis

How to prepare

Work through the topics, read the explanation after each answer, and revisit the areas where you miss questions. Use the official outline and reference materials below to guide your study.

These independent practice questions are not actual exam items and do not guarantee a passing result.

Frequently asked questions

What is the exam format?

On-demand, computer-based, computer-marked Objective Test at Pearson VUE centres or online. Item formats include multiple choice, multiple response, number entry and drag and drop.

How many questions are on the exam?

Total questions: 60.

How long is the exam?

90 minutes of examination time; the 15-minute pre-examination tutorial is separate.

What is the passing score?

A scaled score of 100 or above on the 0–150 scale; this is not a percentage-correct pass mark.

How much does the exam cost?

United Kingdom (Tier 1): GBP180 per Management Level Objective Test from 1 January 2026; GBP187 from 1 January 2027. Registration, subscriptions and tuition are separate charges.

Official sources and references

Confirm current exam arrangements with the exam provider.