CIMA CIMAPRA19-F02-1 Exam Actual Questions

Name: F2 Advanced Financial Reporting
Brand: QA4Exam
SKU: CIMAPRA19-F02-1
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The questions for CIMAPRA19-F02-1 were last updated on Sep 22, 2024.

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Question No. 1

The IAS definitions of financial instruments dictate their classification between debt and equity. Which of of the following factors might this classification impact?

Select ALL that apply.

AFinancial risk

BProfitability

CProfit distribution

DLiquidity

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Correct Answer: A

Question No. 2

Which of the following statements are INCORRECT with regards to impairment of financial instruments; Select ALL that apply.

AHeld to maturity instruments and available for sale assets are both measured at amortised cost and are therefore impacted by impairment.

BIf a loss is suspected following an impairment review, a financial asset is written down to its fair value.

CIf a contract relating to a financial instrument is breached then this might be an indication of impairment.

DIn the result of an impairment loss, the carrying amount of the asset is directly reduced, or reduced through an allowance account.

EThe impairment loss on held to maturity instruments is the difference between the assets carrying amount and the present value of its future cashflows.

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Correct Answer: A, B

Question No. 3

Mr. Rodgers is an accountant for JK Pic. He is asked to record a particular share-based payment in the company's accounts and obliges by debiting as an expense the first relevant account and crediting the corresponding double-entry as a liability.

Which type of share-based payment has Mr. Rodgers recorded?

ACash-settled in the future

BCash-settled immediately

CEquity-settled immediately

DEquity-settled in the future

ENeither cash nor equity-settled

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Correct Answer: A

Question No. 4

The basic earning per share computed by a company for year ended 31st March 20X7 is 2 per share. The company had certain convertible debentures outstanding as on 31st March 20X7. The conversion of debentures to equity shares would result in the earnings per share to be 2.2. Which of the following should the company disclose?

ABasic earnings per share only

BDiluted earnings per share only

CBoth basic and diluted earnings per share

DNeither basic nor diluted earnings per share

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Correct Answer: A

Question No. 5

Which of the following are limitations of financial statement figures for ratio analysis? Select the ALL that apply.

AOnly provides historic data

BOnly provides financial information

CLimited information to identify trends over time

DProvide only summarised information

EContains complicated information that needs to be summarised

FOnly provides forecast data

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Correct Answer: A, B, C, D

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