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CIMA F1 · Operational Level

B. Financial statements

Master the preparation and interpretation of financial statements including income statements, balance sheets, and cash flow statements. This section covers the conceptual framework, accounting standards, non-current assets, leases, and financial statement presentation required for CIMA F1.

  • 34 lessons
  • 7 modules
  • 5.2h of video
  • ~45% of the exam
Start the first lesson → About the CIMA F1 course

What you'll learn

By the end of B. Financial statements.

  • Explain the conceptual framework underpinning financial reporting and its application to accounting standards
  • Identify and account for non-current assets including their recognition, measurement, and depreciation
  • Apply lease accounting standards to correctly classify and present lease obligations in financial statements
  • Analyse the presentation and structure of complete financial statements in accordance with reporting standards
  • Evaluate cash flow statements and their role in assessing organisational liquidity and financial performance
  • Describe the treatment of other accounting standards and their impact on financial statement preparation

The lessons

34 lessons, module by module.

The Conceptual Framework

6 lessons
  1. 1 Conceptual framework - part 1 7m
  2. 2 Conceptual framework - part 2 10m
  3. 3 Conceptual framework - part 3 7m
  4. 4 Conceptual framework - part 4 8m
  5. 5 Conceptual framework - part 5 10m
  6. 6 Conceptual framework - part 6 4m

Non-current assets

7 lessons
  1. 1 Non-current assets - part 1 9m
  2. 2 Non-current assets - part 2 5m
  3. 3 Non-current assets - part 3 10m
  4. 4 Non-current assets - part 4 12m
  5. 5 Non-current assets - part 5 8m
  6. 6 Non-current assets - part 6 11m
  7. 7 Non-current assets - part 7 5m

Leases

5 lessons
  1. 1 Leases - part 1 6m
  2. 2 Leases - part 2 10m
  3. 3 Leases - part 3 8m
  4. 4 Leases - part 4 14m
  5. 5 Leases - part 5 5m

Other Accounting Standards

6 lessons
  1. 1 Other accounting standards - part 1 9m
  2. 2 Other accounting standards - part 2 7m
  3. 3 Other accounting standards - part 3 7m
  4. 4 Other accounting standards - part 4 7m
  5. 5 Other accounting standards - part 5 10m
  6. 6 Other accounting standards - part 6 9m

Presentation of Published Financial Statements

4 lessons
  1. 1 Presentation of financial statements - part 1 10m
  2. 2 Presentation of financial statements - part 2 9m
  3. 3 Presentation of financial statements - part 3 8m
  4. 4 Presentation of financial statements - part 4 11m

Statement of Cash Flows

5 lessons
  1. 1 Cash flows - part 1 11m
  2. 2 Cash flows - part 2 9m
  3. 3 Cash flows - part 3 7m
  4. 4 Cash flows - part 4 7m
  5. 5 Cash flows - part 5 5m

*BONUS* Hotspot Webinar: Non-current assets

1 lesson
  1. 1 Hotspot webinar - non-current assets 36m

Questions

About B. Financial statements.

What are the main components of a complete set of financial statements?

A complete set includes a statement of financial position, statement of profit or loss, statement of changes in equity, cash flow statement, and notes containing accounting policies and explanatory information.

What is the purpose of the statement of financial position?

The statement of financial position shows an entitys assets, liabilities, and equity at a specific date, providing a snapshot of its financial position and helping users assess liquidity and solvency.

How does the cash flow statement differ from the profit and loss statement?

The cash flow statement shows actual cash movements across operating, investing, and financing activities, while the profit and loss statement reports earnings using accruals accounting principles.

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