CIMA F1 Financial Reporting: Complete 10-Session Course

Overview

CIMA F1 Financial Reporting preparation and financial information

CIMA F1: Financial Reporting is the Operational Level finance subject in the CGMA Professional Qualification. It builds the reporting knowledge needed to explain routine financial information and understand how financial obligations affect a business.

For example, a reported result and the cash available to an organisation can tell different stories. F1 helps candidates connect these perspectives, so they can discuss financial information with a clearer understanding of its purpose and limits.CIMA F1 Financial Reporting study roadmap

First, connect each transaction with the reporting principle it uses. Then follow the effect through the statements. Finally, compare profit with cash and explain why a difference matters to the business.

Sessions	Topic	Practice aim
1–2	Reporting rules and statement foundations	Explain the purpose of reliable financial information.
3–5	Assets, inventory, leases and statement preparation	Trace adjustments through clear workings.
6	Cash flow statements	Reconcile reported profit with operating cash.
7–8	Tax principles, administration and ethics	Check calculations and distinguish ethical issues.
9–10	Working capital and integrated F1 revision	Review cash needs and recurring errors.

Offered By

The Chartered Institute of Management Accountants (CIMA)

The CIMA was founded in 1919. The CIMA head office is located in London, UK.

Members

In 2017, AICPA & CIMA came together to forge a powerful international alliance that promotes accounting and finance in every corner of the world. As of 2025, AICPA & CIMA serve 580,000 members, candidates, and registrants in 150 countries and territories.

Preparation goals

The preparation goal is to explain the reasoning behind a treatment or calculation. First, identify the issue and the information given. Next, apply the relevant principle and check whether the result makes sense in the business context.

What is the eligibility?

Starting point: The standard route into the Operational Level is completion of the CIMA Certificate in Business Accounting. Alternatively, CIMA-approved exemptions may permit direct entry.
Registration: Register with CIMA and confirm your approved entry level before booking F1.
Exemptions: CIMA assesses relevant qualifications and professional experience. However, exemptions are discretionary; use the official exemptions assessment to confirm whether F1 is required for your route.

Who can do?

Anyone who is interested to learn about following concepts can pursue CIMA F1: Financial Reporting:

Operational Level candidates, trainee accountants, finance assistants, financial reporting team members, accounting learners, business and finance graduates, professionals developing foundational financial reporting skills..

Individuals with the following designations:

Operational Level candidates, trainee accountants, finance assistants, reporting team members, learners building a foundation for accounting responsibilities.

Lecture plan

The CIMA F1: Financial Reporting program is structured across 10 comprehensive sessions, covering the key concepts, principles, techniques, and practical applications required for effective financial reporting and financial statement analysis. The sessions combine theoretical learning, numerical practice, accounting scenarios, financial statement preparation, and exam-focused preparation to help learners develop the knowledge and skills required for the CIMA F1 assessment.

Session 1:

Reporting regulation and governance (1)

Reporting regulators, governance and ethical responsibility. First, identify who needs the information and why trustworthy reporting matters.

Session 2:

Financial statement foundations (1)

Statement elements, recognition and measurement. Next, connect transaction facts with the figures presented to users.

Session 3:

Asset accounting (1)

Non-current assets and impairment. Work through an asset example, then explain the treatment in plain language.

Session 4:

Inventory, leases and subsequent events (1)

Inventory measurement, lessee accounting and events after the reporting period. Compare alternative treatments before selecting one.

Session 5:

Preparing financial statements (1)

Statement extracts for an individual entity. For example, trace an adjustment through the affected figures and explain your workings.

Session 6:

Cash flow statements (1)

Indirect cash flow preparation. Reconcile the movement from reported profit to operating cash and investigate differences.

Session 7:

Tax principles and calculations (1)

Business taxes and the distinction between accounting and taxable profit. Check each adjustment before calculating a liability.

Session 8:

Tax administration and ethical issues (1)

Tax rules, administration and cross-border issues. Distinguish an ethical concern from a calculation error.

Session 9:

Cash and working capital management (1)

Short-term funding and working capital cycles. For example, examine how delayed collections affect cash needs.

Session 10:

Integrated F1 revision (1)

Mixed reporting, tax and working capital practice. Finally, review the error log and revisit the reasoning behind recurring mistakes.

Learning Methodology

Build a clear chain from the business event to its financial effect. Work through a small example before comparing alternative treatments.

Understand: Explain the purpose of a rule in plain language.
Work: Set out the calculation or accounting treatment step by step.
Check: Reconcile the result with the information given.
Compare: Explain why an alternative answer would be unsuitable.
Revisit: Attempt a fresh example after correcting an error.

Lectures

Lectures demonstrate how to move from a financial event to a supported answer. First, separate the facts that matter from background detail. Next, work through the treatment and discuss the effect of a changed assumption.

Practice Session

Use focused exercises to practise both calculations and explanations. For example, write a short reason beside each working rather than recording only the final figure. This makes a mistaken assumption easier to identify and correct.

Mock Examination

Mixed-topic objective-test practice checks whether you can recognise which principle a question needs. However, a correct guess can conceal a knowledge gap. Review the explanation for each response and track recurring errors before attempting another mock.

Berkeley Middle East Performance Standards

Review progress by checking the steps behind an answer. A useful self-review asks whether you can:

Identify the principle relevant to the requirement.
Select the information needed for a calculation.
Show clear workings and units.
Explain the effect of a treatment on financial information.
Spot an unreasonable result and investigate the cause.

Therefore, keep both the corrected working and the explanation in your revision record.

CIMA F1 examination

The objective test assesses Financial Reporting at the Operational Level. Use the official blueprint to check the scope of assessed knowledge before booking.

Assessment detail	F1 objective test
Format	Computer-based objective test with 60 questions
Duration	90 minutes
Passing score	100 out of 150 on CIMA’s scaled score; this is not a raw percentage of correct answers.
Availability	On demand in January, February, March, April, May, June, July, August, September, October, November and December, subject to appointment availability.
Location	Pearson VUE test centres or online delivery, subject to eligibility and technical requirements.

Before booking, review the official CIMA exam blueprint. In addition, check your chosen delivery option and test-day requirements through your CIMA exam booking account.

Success Stories

“As a strong advocate for education and human development, I commend Berkeley for its exceptional commitment to empowering future leaders. The institution stands as a symbol of excellence, innovation, and opportunity. Students who walk its halls are nurtured with knowledge, values, and vision—qualities that contribute to building a stronger and more prosperous future for our nation.”

- H.H. Shaikh Khalifa Al Hamid

Alumni Benefits

‣ Exclusive Networking Events: Access invitations to industry-leading events and thought-leadership gatherings featuring renowned speakers.

‣ Monthly Updates: Stay informed with a newsletter highlighting the latest research, events, and activities from the school.

‣ LinkedIn Community Access: Join the Executive Education LinkedIn group for networking and professional development opportunities.

‣ Educational Discounts: Enjoy a 20% discount on open-enrollment programs and access to workshops focused on emerging trends.

‣ Global Alumni Network: Connect with a diverse alumni community through the Berkeley School’s online network and engage in country and interest groups.

Visit Our Alumni

Career applications

Financial reporting study can support the preparation and interpretation of financial information. Practise explaining what a statement shows, which assumptions matter and what further evidence a reader needs.

For example, a finance team member may need to explain a movement in cash or a reporting adjustment. However, reporting responsibilities depend on the role and the applicable accounting requirements.

Planning your next CIMA subject

F1 develops reporting knowledge alongside the Operational Level’s enterprise and performance subjects. For example, a cash constraint can affect both operational decisions and the financial information prepared for management.

Plan F1 alongside CIMA E1: Managing Finance in a Digital World and CIMA P1: Management Accounting. These subjects can be studied in any order. However, the standard objective-test route requires completion of all three, or approved exemptions, before the CIMA Operational Case Study.

Therefore, check your approved route and remaining subjects before choosing your next course. Keep a revision record from CIMA F1 so that reporting principles remain available when you move into integrated business scenarios.

What You Earn

You will get a certificate of completion, which is highly reputed and accepted by employers.

Reporting judgement

Connect a financial reporting principle with the facts of a transaction and explain the treatment you selected.

Cash awareness

For example, distinguish a reported profit from the cash available to meet obligations. Use this distinction when discussing working capital needs.

Revision evidence

Keep worked examples and a correction log. As a result, you can revisit the reasoning behind an error and check whether your understanding has improved.

Related courses

CIMA - Chartered Institute of Management Accountants

The CIMA qualification is a globally recognized certification in management accounting, focusing on business strategy, performance management, and financial decision-making.

CIMA BA1: Fundamentals of Business Economics

BA1: Fundamentals of Business Economics introduces the core economic principles businesses use to understand markets, resources, costs, demand, supply, and decision-making.

CIMA BA2: Fundamentals of Management Accounting

BA2: Fundamentals of Management Accounting develops essential knowledge of management accounting, costing, budgeting, and financial information for effective business decision-making.

CIMA BA3: Fundamentals of Financial Accounting

BA3: Fundamentals of Financial Accounting develops essential knowledge of financial accounting principles, financial statements, accounting records, and reporting practices for business decision-making.

CIMA BA4: Fundamentals of Ethics, Corporate Governance and Business Law

BA4: Fundamentals of Ethics, Corporate Governance and Business Law develops essential knowledge of ethical principles, corporate governance, business law, and responsible professional conduct.

CIMA E1: Managing Finance in a Digital World

CIMA E1: Managing Finance in a Digital World explores how finance teams use data and technology. Build judgement for digital finance processes and business collaboration.

CIMA P1: Management Accounting

CIMA P1: Management Accounting connects costs, budgets and uncertainty with short-term decisions. Build the reasoning needed to compare options and explain an operational recommendation.

CIMA Operational Case Study

The Operational Case Study applies CIMA knowledge and skills to realistic business scenarios, assessing learners' ability to analyze information, make decisions, and provide practical business solutions.

CIMA E2: Managing Performance

CIMA E2: Managing Performance connects organisational goals with decisions about people and projects. Develop an enterprise perspective for practical management situations.

CIMA P2: Advanced Management Accounting

CIMA P2: Advanced Management Accounting connects cost choices, investment appraisal and unit performance. Learn to test assumptions and explain the risks behind a recommendation.

CIMA F2: Advanced Financial Reporting

CIMA F2: Advanced Financial Reporting connects reported figures with business understanding. Build clear workings, question comparisons and explain what financial information can and cannot show.

CIMA Management Case Study

The CIMA Management Case Study integrates E2, P2, and F2 knowledge, assessing learners' ability to apply management accounting, performance management, and financial reporting skills to realistic business situations.

CIMA E3: Strategic Management

E3: Strategic Management develops advanced skills in strategic analysis, leadership, business strategy, organizational change, and long-term decision-making.

CIMA P3: Risk Management

P3: Risk Management develops advanced skills in identifying, assessing, managing, and responding to financial and business risks to support effective strategic decision-making.

CIMA F3: Financial Strategy

F3: Financial Strategy develops advanced skills in financial strategy, investment decisions, financing, valuation, and financial risk management to support long-term business objectives.

CIMA Strategic Case Study

The CIMA Strategic Case Study integrates E3, P3, and F3 knowledge, assessing learners' ability to apply strategic management, risk management, and financial strategy skills to complex business situations.

FAQ: CIMA F1: Financial Reporting

How can I practise recognising a reporting issue?

What should I do when an accounting treatment feels unclear?

Why might profit and cash move differently?

How should I use a worked solution?

Why is it useful to state units in calculations?

How can I study alongside a reporting role?

Where should I check assessment arrangements?

How can I avoid memorising answers without understanding them?

What is a useful way to revise taxation?

How can I review a working capital problem?

What should I record after a mock?

Does passing CIMA F1 grant CIMA membership?

BERKELEY SCHOOL OF BUSINESS, ARTS & SCIENCES

CIMA F1: Financial Reporting

Overview

Table of contents

Offered By

Members

Preparation goals

What is the eligibility?

Who can do?

Lecture plan

Session 1:

Session 2:

Session 3:

Session 4:

Session 5:

Session 6:

Session 7:

Session 8:

Session 9:

Session 10:

Learning Methodology

Berkeley Middle East Performance Standards

CIMA F1 examination

Success Stories

Alumni Benefits

Career applications

Planning your next CIMA subject

What You Earn

Reporting judgement

Cash awareness

Revision evidence

Related courses

The CIMA qualification is a globally recognized certification in management accounting, focusing on business strategy, performance management, and financial decision-making.

FAQ: CIMA F1: Financial Reporting

Contact Us