1. This presentation uses a free template provided by FPPT.com www.free-power-point-templates.com CIMA F1 Dumps Cima F1 Exam Dumps Financial Reporting and Taxation

2. This presentation uses a free template provided by FPPT.com www.free-power-point-templates.com  Availability: on demand at any of the 5000 Pearson VUE centres around the world  Length: 90 minutes  Marking: computer marked  Results: provisional result available immediately followed by confirmation no more than 48 hours late Cima F1 Assessment Cima F1 Exam Dumps

3. This presentation uses a free template provided by FPPT.com www.free-power-point-templates.com Cima F1 Exam Dumps WeightSyllabus topic 10%A. Regulatory environment for financial reporting and corporate governance 45%B. Financial accounting and reporting 20%C. Management of working capital, cash and sources of short-term finance 25%D. Fundamentals of business taxation Summary of syllabus

4. This presentation uses a free template provided by FPPT.com www.free-power-point-templates.com Cima F1 Exam Dumps Operational level F1 Financial Reporting and Taxation F1 covers the regulation and preparation of financial statements and how the information contained in them can be used. It provides the competencies required to produce financial statements for both individual entities and groups using appropriate international financial reporting standards. It also gives insight into how to effectively source and manage cash and working capital, which are essential for both the survival and success of organizations. The final part focuses on the basic principles and application of business taxation. The competencies gained from F1 form the basis for developing further insights into producing and analyzing complex group accounts (covered in F2) and formulating and implementing financial strategy (covered in F3)

5. This presentation uses a free template provided by FPPT.com www.free-power-point-templates.com Cima F1 Exam Dumps DEMO Question: 1 Which ONE of the following assets is included in the valuation of plan assets? A.Unpaid contributions. B.Unlisted corporate bonds (redeemable but not transferable). C.A loan to the company that cannot be assigned to a third party. D.Investments in listed companies. Answer: D

6. This presentation uses a free template provided by FPPT.com www.free-power-point-templates.com Cima F1 Exam Dumps DEMO Question: 2 PNM has agreed to improve their defined benefit pension scheme. The benefit payable will be based on 30 years rather than 40 years’ service. For this reason, the defined benefit liability will increase by $15 million. The mean residual service lives of the employees are 12 years. How can PNM treat the increase in the pension liability in its financial statements? A.The past service cost should be charged against retained profit. B.The past service cost should be charged against profit or loss for the year. C.The past service cost should be spread over the remaining working lives of the employees. D.The past service cost should not be recognised. Answer: B

7. This presentation uses a free template provided by FPPT.com www.free-power-point-templates.com Cima F1 Exam Dumps DEMO Question: 3 Choose ONE correct option. For which event will there be a change in the defined benefit obligation? A.Adjustment in the discount rate for calculating defined benefit liabilities. B.Adjustment in the proportion of employees taking early retirement. C.Adjustment in the benefits that will occur in the future. D.Adjustment in the number of employees who retired versus those contributing to benefits. Answer: C

8. This presentation uses a free template provided by FPPT.com www.free-power-point-templates.com Cima F1 Exam Dumps DEMO Question: 4 Company X changed its pension plan from being a defined benefit plan to being a defined contribution plan on 1st January 2014. The defined plan still considers past service, but it does not consider future service. After the plan amendment, the net pension liability is $170 million. The net pension liability before the amendment was $220 million. How should Company X account for this change? A. Company X will recognise the gain, but it will apply a ‘10 percent corridor approach’ to it. B. Company X will not recognise a gain. C. Company X will recognise $50 million as gains over the residual service lives of the employees. D. Company X will recognise a gain of $50 million in the statement of profit and loss. Answer: D

9. This presentation uses a free template provided by FPPT.com www.free-power-point-templates.com Cima F1 Exam Dumps DEMO Question: 5 The actuarial value of Gillespie’s pension plan showed a surplus at 1 January 20X7 of $36 million. Losses of $12.5 million on re-measurement of net defined benefit asset are to be recognised in other comprehensive income. The aggregate of the current service cost, interest cost and expected return on assets amounted to a cost of $27.5 million for the year. After consulting with the actuaries, the company decided to reduce its contributions for the year to $22.5 million. At the year end, the unrecognised actuarial losses were $20 million and the present value of available future refunds and reductions in future contributions was $9 million. Calculate the closing balance of the net defined benefit asset at 31 December 20X7 ($million). $------- million. Answer: $9 million

10. This presentation uses a free template provided by FPPT.com www.free-power-point-templates.com Cima F1 Exam Dumps Cima F1 Dumps financial-reporting-and-taxation