Financial Reporting and Taxation

F1 covers the regulation and preparation of financial statements and how the information contained in them can be used.
  • It provides the competencies required to produce financial statements for both individual entities and groups using appropriate international financial reporting standards.
  • It also gives insight into how to effectively source and manage cash and working capital, which are essential for both the survival and success of organisations.
  • The final part focuses on the basic principles and application of business taxation.
  • The competencies gained from F1 form the basis for developing further insights into producing and analysing complex group accounts (covered in F2) and formulating and implementing financial strategy (covered in F3)


  • Format: Computer Based Objective Test
  • Availability: On Demand at Pearson VUE centres
  • Length: 90 minutes
  • Pass mark: 70%

Objective Tests are comprised of a range of items including short multiple choice questions, number entry questions, drag and drop questions and other formats. They test all component learning outcomes across the whole subject.

Syllabus structure

Weight Syllabus topic
10% A. Regulatory environment for financial reporting and corporate governance
45% B. Financial accounting and reporting
20% C. Management of working capital, cash and sources of short-term finance
25% D. Fundamentals of business taxation

Course Information

This Objective Test course will comprise a comprehensive tuition phase followed by a question practice day to go through step by step exam technique, culminating in a timed mock.

It will be offered as either weekday or a combination of evening & weekend.


All course materials will be provided, including Textbook, Revision Kit, Passcards and Vale FT course notes.

Classroom Course
  • Integrated Tuition: 5 days
  • Question Practice : 1 day
  • Mock: invigilated & marked with feedback