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CIMAPRA19-F01-1 Exam Questions
- Topic 1: Explain specific financial reporting standards/ Managing cash and working capital
- Topic 2: Idendtify regulators and describe their role/ Explain and calculate operating and cash cycles
- Topic 3: Apply different techniques used to manage working capital/ Regulatory environment of financial reporting
- Topic 4: Distinguish between the types and sources of short-term finance/ Apply corporate governance principales to financial reporting
- Topic 5: Apply financial reporting standards to prepare basic financial statements/ End of topic revision and question practice
- Topic 6: Indentify the main elements of financial statements/ Revise and practice questions under exam conditions
Free CIMA CIMAPRA19-F01-1 Exam Actual Questions
Note: Premium Questions for CIMAPRA19-F01-1 were last updated On Mar. 25, 2025 (see below)
The tax rules in a country state that all tax returns must be filed by 31 March each year and that any outstanding tax balance must be paid by 14 April each year. An entity filed its tax return on 10 April 20X2 and paid the outstanding tax on 20 April 20X2.
Which TWO of the following powers is the tax authority likely to have in respect of these actions by the entity?
The following information is extracted from OO's statement of financial position at 31 March:
Included in other payables is interest payable of $80,000 at 31 March 20X2 and $73,000 at 31 March 20X1.
The following information if included within OO's statement of profit or loss for the year ended 31 March 20X2:
Included within finance cost is $124,000 which relates to interest paid on a finance lease. 00 includes finance lease interest within financing activities on its statement of cash flows.________________
Within OO's statement of cash flow for the year ended 31 March 20X2 which figures should be included to reflect the changes in working capital within the net cash flow from operating activities?
An entity has an inventory holding period of 52 days.
This means that the inventory:
The statement of profit or loss for PQ, ST and AB for the year ended 31 December 20X0 are shown below:
1. PQ acquired 80% of its subsidiary, ST, on 1 January 20X0 and 40% of its associate, AB, on 1 September 20X0.
2. Since acquistion PQ has sold goods to ST and AB for $20,000 and $30,000 respectively. At the year end both ST and AB have 50% of these goods remaining in inventory. PQ uses a mark-up of 20% on all of its sales.
3. Since acquisition the goodwill in respect of ST has been impaired by $8,000 and the investment in AB has been impaired by $2,000.
4. PQ uses the fair value method for non-controlling interest at acquisition.
Calculate the amount that will be shown as the share of profit of associate in PQ's consolidated statement of profit or loss for the year ended 31 December 20X0.
An entity acquires 100% of the equity shares in another entity.
The consideration paid for the shares is less than the fair value of the net assets acquired.
Which of the following is the correct accounting treatment for the difference between the consideration paid and the fair value of the net assets acquired, in accordance with IFRS 3 Business Combinations?
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