Most Recent CIMAPRA19-F02-1 Exam Dumps

Prepare for the CIMA F2 Advanced Financial Reporting exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.

QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the CIMAPRA19-F02-1 exam and achieve success.

The questions for CIMAPRA19-F02-1 were last updated on Feb 22, 2025.

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Question No. 1

Which of the following principles are the basic principles followed by the consolidated income statement?

Select ALL that apply.

AInclude all of the parent's income and expenses plus all of the subsidiaries' income and expenses

BIgnore investment income from subsidiary to parent (e.g. dividend payments or loan interest)

CAfter profit for the period, show the profit split between amounts attributable to the parent's shareholders and other shareholders

DInclude all of the parent's income and expenses minus all of the subsidiaries' income and expenses

EInclude investment income from subsidiary to parent (e.g. dividend payments or loan interest)

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Correct Answer: A, B, C

Question No. 2

Which THREE of the following would determine the functional currency of an overseas subsidiary in accordance with IAS 21 The Effects of Changes in Foreign Exchange Rates?

AThe currency which principally influences selling prices for goods and services.

BThe currency in which operating receipts are retained.

CThe currency that mainly influences labour, material and other costs.

DThe currency which the parent company uses to present its financial statements.

EThe currency in which all non-current assets are purchased and recognised.

FThe currency which principally influences the choice of functional currency of the parent.

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Correct Answer: A, B, C

Question No. 3

The yield to maturity of a redeemable bond is calculated as the internal rate of return of the relevant cash flows associated with the bond.

Which TWO of the following are considered relevant cash flows in this calculation?

AThe annual interest payments net of tax relief.

BThe redemption value of the bond at the date of redemption.

CThe market value of the bond now.

DThe nominal value of the bond now.

EThe value of the conversion premium on conversion to equity shares.

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Correct Answer: B, C

Question No. 4

XYZ had 600,000 ordinary shares in issue on 1 July 20X4. On 1 January 20X5, the entity made a 1 for 2 bonus issue. The profit attributable to ordinary shareholders for the year ended 30 June 20X5 was $2,925,000.

What is the basic earnings per share for the year ended 30 June 20X5?

A$3.25

B$4.88

C$1.63

D$3.90

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Correct Answer: A

Question No. 5

Which THREE of the following statements about preference shares are true?

AFor an investor, preference shares carry more risk than ordinary shares.

BUnlike ordinary shares, preference shares may be cumulative.

CThe characteristics of preference shares are closer to debt than equity.

DPreference shares cannot be issued as redeemable shares.

EPreference shareholders receive their dividend entitlement before the equity shareholders.

FPreference shareholders rank below the equity shareholders in a winding up.

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Correct Answer: B, C, E

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