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CIMA F2 · Management Level

B. Financial reporting standards

Master IFRS financial reporting standards covering revenue recognition, lease accounting, provisions, financial instruments, intangible assets, and income tax treatments. This section develops your technical knowledge to apply accounting policies accurately and interpret their impact on financial statements.

  • 22 lessons
  • 6 modules
  • 3.6h of video
  • ~25% of the exam
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What you'll learn

By the end of B. Financial reporting standards.

  • Explain the principles of revenue recognition under IFRS 15 and apply them to complex transaction scenarios
  • Describe lease accounting treatments for both lessors and lessees under IFRS 16
  • Identify and evaluate provisions, contingent liabilities, and contingent assets in accordance with IAS 37
  • Analyse the classification, measurement, and disclosure of financial instruments under IFRS 9
  • Apply the recognition and measurement criteria for intangible assets under IAS 38
  • Evaluate current and deferred tax positions and their presentation in financial statements under IAS 12

The lessons

22 lessons, module by module.

Revenue

2 lessons
  1. 1 Revenue - part 1 10m
  2. 2 Revenue - part 2 13m

Leases: Lessor accounting

2 lessons
  1. 1 Leases - lessor accounting - part 1 8m
  2. 2 Leases - lessor accounting - part 2 13m

Provisions, contingent liabilities and contingent assets

3 lessons
  1. 1 Provisions, contingent liabilities and contingent assets - part 1 11m
  2. 2 Provisions, contingent liabilities and contingent assets - part 2 5m
  3. 3 Provisions, contingent liabilities and contingent assets - part 3 13m

Financial instruments

9 lessons
  1. 1 Financial instruments - part 1 12m
  2. 2 Financial instruments - part 2 10m
  3. 3 Financial instruments - part 3 9m
  4. 4 Financial instruments - part 4 7m
  5. 5 Financial instruments - part 5 12m
  6. 6 Financial instruments - part 6 8m
  7. 7 Financial instruments - part 7 9m
  8. 8 Financial instruments - part 8 8m
  9. 9 Financial instruments - part 9 14m

Intangible assets

3 lessons
  1. 1 Intangible assets - part 1 10m
  2. 2 Intangible assets - part 2 10m
  3. 3 Intangible assets - part 3 11m

Income taxes

3 lessons
  1. 1 Income taxes - part 1 9m
  2. 2 Income taxes - part 2 9m
  3. 3 Income taxes - part 3 7m

Questions

About B. Financial reporting standards.

What does the Financial Reporting Standards section cover?

This section covers the application of key IFRS standards essential to the CIMA syllabus, including revenue recognition under IFRS 15, lease accounting under IFRS 16, provisions and contingencies under IAS 37, financial instruments under IFRS 9, intangible assets under IAS 38, and income tax under IAS 12. You will develop technical competency in applying these standards to complex accounting scenarios and interpreting their financial statement impact.

Is this section important for the F2 exam?

Yes, this section is critical for the F2 Objective Test. Financial reporting standards form a substantial proportion of the F2 syllabus, and questions frequently test your ability to apply IFRS standards to real-world scenarios. Strong performance in this section is essential for exam success.

Will these lessons prepare me for advanced financial reporting topics?

Absolutely. This section provides the foundational and intermediate IFRS knowledge required for advanced financial reporting at the Strategic Level. The technical competency developed here directly supports consolidated financial statements, fair value measurement, and specialised accounting treatments.

Are there practice questions included with these lessons?

Yes, each module includes worked examples and practice questions aligned to the CIMA F2 Objective Test format. These enable you to apply standards-based knowledge in realistic exam scenarios and build confidence in your technical understanding.

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