Questions in this paper
Our own one-line description of what each question tests. "Paper" jumps to the question's page in the official PDF; "Comments" to the examiners' notes on it.
| Q | Area | What it tests | Marks | Pass rate | Official | Walkthrough |
|---|---|---|---|---|---|---|
| Q1 | MCQs | Nine MCQs (10 marks): club subscription income, preference shares in the SOCE, produce after harvest, interest cover, impairment indicators, interim dividends, the IFRS Interpretations Committee, bearer assets and gearing effects. | 10 | 57% | Paper Comments | Q1 walkthrough |
| Q2 | Borrowing costs (IAS 23) | Borrowing costs on a production facility funded by a specific loan and two general loans, with a strike stoppage and a completion date before final finishing work. | 7 | 61% | Paper Comments | Q2 walkthrough |
| Q3 | Government grants (IAS 20) | Three years of journal entries for a plant bought with a deferred-income grant: availability-for-use date, a later component that extends life, and partial repayment of the grant. | 8 | 77% | Paper Comments | Q3 walkthrough |
| Q4 | Conceptual and regulatory framework | Explain how assets and liabilities are measured under each measurement basis in the Conceptual Framework. | 8 | 26% | Paper Comments | Q4 walkthrough |
| Q5 | Policies, estimates and errors (IAS 8) | IAS 8 disclosure notes for a change in depreciation method on a building and a change of inventory cost formula with three years of values. | 8 | 26% | Paper Comments | Q5 walkthrough |
| Q6 | Ratio analysis and working capital | Cash operating cycle from sales, mark-up and balances, then four short-term window-dressing steps that would flatter it at year-end. | 8 | 43% | Paper Comments | Q6 walkthrough |
| Q7 | Statement of cash flows (IAS 7) | Statement of cash flows (indirect method) from two balance sheets and notes on PPE, capital work-in-progress, investment property, impairment, interest, tax and dividends. | 16 | 59% | Paper Comments | Q7 walkthrough |
| Q8 | Preparing the SOFP and SOPL (IAS 1) | SOPL and SOFP from a trial balance with a suspense account, inventory write-down, loan interest accrual and current portion, capitalised interest, an unrecorded drop-shipment sale and depreciation allocation. | 20 | 12% | Paper Comments | Q8 walkthrough |
| Q9 | Property, plant and equipment (IAS 16) | Notes on PPE and investment property: a revalued production facility with changing residual values, and a multi-unit building split between own use and letting under the fair value model. | 15 | 45% | Paper Comments | Q9 walkthrough |
Marks by area
All 100 marks set, by area. MCQ items count towards their own area.
Statement of cash flows (IAS 7)16 marks
Ratio analysis and working capital10 marks
Government grants (IAS 20)8 marks
Borrowing costs (IAS 23)7 marks
Equity transactions and SOCE2 marks
Agriculture (IAS 41)2 marks
Heavier and lighter than usual
Compared with the average across all 2 indexed sittings of CAF-1 (differences of 5 marks or more).
Heavier
- Property, plant and equipment (IAS 16): 15 marks vs 8.5 average
- Ratio analysis and working capital: 10 marks vs 5 average
Lighter
- Intangible assets (IAS 38): 0 marks vs 7.5 average
- Equity transactions and SOCE: 2 marks vs 9 average
- Investment property (IAS 40): 0 marks vs 5 average
Against the syllabus weightings
| Section | Syllabus weight | Autumn 2026 marks |
|---|---|---|
| A. Preparation of statements of financial position and profit or loss | 30–40% | 31 |
| B. Statements of changes in equity and cash flows (incl. IAS 8, ratios) | 30–40% | 36 |
| C. Accounting for non-current assets | 25–35% | 33 |
Section totals use our classification of each question's area into the syllabus grid.
Pass rate by question
Published in the examiners' comments for this sitting.
Q1 · MCQs57%
What the examiners said
The main themes of the official examiners' comments, summarised in our own words. Read the full report for question-by-question detail.
- The pass rate rose again, but the trial-balance statements question (Q8) was once more the weakest, at 12%.
- Theory questions on measurement bases and on IAS 8 disclosures were often skipped or answered superficially; around half of candidates scored nothing on measurement bases.
- Final figures without workings again limited partial credit; the examiners recommend a referenced, systematic approach to adjustments.