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CIMA F2 Exam With Confidence Using Practice Dumps

Exam Code:
F2
Exam Name:
Advanced Financial Reporting
Certification:
Vendor:
Questions:
248
Last Updated:
Apr 26, 2025
Exam Status:
Stable
CIMA F2

F2: CIMA Management Exam 2025 Study Guide Pdf and Test Engine

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Advanced Financial Reporting Questions and Answers

Question 1

KL acquired 75% of the equity share capital of MN on 1 January 20X8. The group's policy is to value non-controlling interest at fair value at the date of acquisition. MN acquired 60% of the equity share capital of PQ on 1 January 20X9 for $360 million.

At 1 January 20X9 the fair value of the non-controlling interest in PQ was $220 million and the fair value of the net assets of PQ at 1 January 20X9 were $320 million.

Calculate the goodwill arising on the acquisition of PQ at 1 January 20X9.

Give your answer to the nearest million.

$  ?   million

Options:

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Question 2

ST acquired two financial investments in the year to 31 December 20X8.  One of these investments was initially classified as held for trading, the other as available for sale.  ST remeasured both investments at fair value at 31 December 20X8 in accordance with IAS 39 Financial Instruments: Recognition and Measurement.  The resulting gains were calculated as follows:

• Gain on held for trading investment $50,000 

• Gain on available for sale investment $40,000

What was the value of the gain that ST presented in its other comprehensive income when it prepared its financial statements for the year to 31 December 20X8?

Give your answer to the nearest $000.

$ ?  000

Options:

Question 3

GG's gearing is currently 50% compared to the industry average of 40% (both measured as debt/equity). GG's debt is all in the form of a single bank loan that is repayable in five years' time. The directors of GG are seeking to raise finance for a new project and they are considering an additional bank loan from the same bank.

Which of the following would prevent the bank from lending the finance for the project in the form of a new bank loan?

Options:

A.

A covenant on the existing bank loan that restricts the level of dividend that can be paid.

B.

A projected decrease in interest cover that would breach a covenant on the existing loan.

C.

The revaluation of GG's property that shows an increase in its value since the existing bank loan was taken out.

D.

A projected lack of profits to be able to claim tax relief on the additional interest arising from the new loan.