CIMA Professional - Operational Level (F1) Financial Operations

The F1 Financial Operations course covers one of the nine units that make up the prestigious CIMA Professional Chartered Management Account qualification. It will introduce you to many essential financial principles within business accounting. • Understand the different types of tax that can be applied to an incorporated business, including direct tax on a company’s trading profits and indirect taxes collected by the company and learn about the administration of them. • Identify situations in which foreign tax obligations (reporting and liability) could arise and methods for relieving foreign tax and gain further insight into employee taxation. • Understand the need for record keeping and the importance of adhering to tax return and payment deadlines. • Learn how to prepare corporate income tax calculations and feel confident in the execution of them. • Understand why regulating accounting and financial reporting are needed; learn the role of the external auditor, the core elements of an audit report and why accurate and in-depth financial reporting equates to best practice. • Understand the CIMA Code of Ethics for Professional Accountants with relation to information reporting, assurance and taxation activities of an accountant, so that you can apply the knowledge in your future job position. • Learn how to prepare full financial statements for a single company and consolidated statements for a group. • Learn about international standards and accounting rules and how to apply them to a range of matters that you will be faced with over the course of your career