Overview
CAF-6 Corporate Reporting covers group accounts, the main IFRSs on financial instruments, leases, revenue, tax and EPS, plus Companies Act schedules, ethics and IFRS S1. Both 2026 papers opened with ten one-mark MCQs mostly on segments, foreign currency, sustainability, ethics and the Companies Act, followed by five Section A questions and three long Section B questions.
A consolidation question (17–19 marks) appeared in both sittings, as did leases, EPS, financial instruments with expected credit losses, provisions and events after the reporting period, and income taxes. Discussion questions are where marks leak: the examiners repeatedly ask for the IFRS principle applied to the facts, not a one-line conclusion.
Written exam · 100 marks · 3 hours 15 minutes (incl. 15 minutes reading) · Section A short questions + Section B long questions
Worth knowing
- Only two sittings exist under the 2025 scheme so far, so 'every sitting' below means both 2026 papers.
Sittings and official links
Each paper link opens the official PDF on ICAP's website. Our analysis page for each sitting lists every question with its topic, marks and pass rate.
| Sitting | Exam date | Question paper | Examiners' comments | Suggested answers | Pass rate | Our analysis |
|---|---|---|---|---|---|---|
| Autumn 2026 | 25 August 2026 | Portal login required | 44% | Autumn 2026 analysis | ||
| Spring 2026 | 10 March 2026 | Portal login required | 42% | Spring 2026 analysis |
Suggested answers and marking plans sit in ICAP's student area (CRN login required).
Yearly topical index
Marks per area in each sitting, from our reading of the official papers. Most-examined areas first. MCQ items are counted under their own area. Tap an area to practise its chapter MCQs.
| Area | Spring 2026 | Autumn 2026 | Total | Sittings |
|---|---|---|---|---|
| Consolidation (IFRS 10 / IFRS 3) | 17 | 19 | 36 | 2/2 |
| Revenue (IFRS 15) | 9 | 18 | 27 | 2/2 |
| Leases (IFRS 16) | 12 | 14 | 26 | 2/2 |
| Income taxes (IAS 12) | 15 | 10 | 25 | 2/2 |
| Provisions and events after the reporting period (IAS 37 / IAS 10) | 15 | 8 | 23 | 2/2 |
| Earnings per share (IAS 33) | 9 | 8 | 17 | 2/2 |
| Financial instruments and ECL (IFRS 9) | 8 | 6 | 14 | 2/2 |
| Intangible assets (IAS 38) | – | 7 | 7 | 1/2 |
| Analysis and interpretation | 6 | – | 6 | 1/2 |
| Companies Act schedules and local requirements | 2 | 2 | 4 | 2/2 |
| Ethics in financial reporting | 2 | 2 | 4 | 2/2 |
| Foreign currency (IAS 21) | 2 | 2 | 4 | 2/2 |
| Sustainability reporting (IFRS S1) | 2 | 2 | 4 | 2/2 |
| Operating segments (IFRS 8) | 1 | 2 | 3 | 2/2 |
| Associates (IAS 28) | – | – | 0 | 0/2 |
Question-by-question index
| Sitting | Q | Main area | Marks | Pass rate | Walkthrough |
|---|---|---|---|---|---|
| Autumn 2026 | Q1 | MCQs (mixed areas) | 10 | 71% | Open |
| Autumn 2026 | Q2 | Income taxes (IAS 12) | 10 | 76% | Open |
| Autumn 2026 | Q3 | Financial instruments and ECL (IFRS 9) | 6 | 65% | Open |
| Autumn 2026 | Q4 | Earnings per share (IAS 33) | 8 | 63% | Open |
| Autumn 2026 | Q5 | Intangible assets (IAS 38) | 7 | 42% | Open |
| Autumn 2026 | Q6 | Provisions and events after the reporting period (IAS 37 / IAS 10) | 8 | 42% | Open |
| Autumn 2026 | Q7 | Leases (IFRS 16) | 14 | 38% | Open |
| Autumn 2026 | Q8 | Consolidation (IFRS 10 / IFRS 3) | 19 | 42% | Open |
| Autumn 2026 | Q9 | Revenue (IFRS 15) | 18 | 8% | Open |
| Spring 2026 | Q1 | MCQs (mixed areas) | 10 | 78% | Open |
| Spring 2026 | Q2 | Leases (IFRS 16) | 12 | 73% | Open |
| Spring 2026 | Q3 | Earnings per share (IAS 33) | 8 | 73% | Open |
| Spring 2026 | Q4 | Revenue (IFRS 15) | 9 | 3% | Open |
| Spring 2026 | Q5 | Analysis and interpretation | 6 | 24% | Open |
| Spring 2026 | Q6 | Financial instruments and ECL (IFRS 9) | 8 | 27% | Open |
| Spring 2026 | Q7 | Provisions and events after the reporting period (IAS 37 / IAS 10) | 15 | 35% | Open |
| Spring 2026 | Q8 | Consolidation (IFRS 10 / IFRS 3) | 17 | 42% | Open |
| Spring 2026 | Q9 | Income taxes (IAS 12) | 15 | 38% | Open |
Trends across sittings
Patterns in the 2 indexed sittings. With so few papers under the current scheme, treat these as patterns to inform revision, not predictions of what will be set.
In every sitting (12)
- Consolidation (IFRS 10 / IFRS 3) – 18 marks on average
- Revenue (IFRS 15) – 13.5 marks on average
- Leases (IFRS 16) – 13 marks on average
- Income taxes (IAS 12) – 12.5 marks on average
- Provisions and events after the reporting period (IAS 37 / IAS 10) – 11.5 marks on average
- Earnings per share (IAS 33) – 8.5 marks on average
- Financial instruments and ECL (IFRS 9) – 7 marks on average
- Companies Act schedules and local requirements – 2 marks on average
- Ethics in financial reporting – 2 marks on average
- Foreign currency (IAS 21) – 2 marks on average
- Sustainability reporting (IFRS S1) – 2 marks on average
- Operating segments (IFRS 8) – 1.5 marks on average
Rotating (2)
- Intangible assets (IAS 38) – Autumn 2026
- Analysis and interpretation – Spring 2026
Not yet examined (1)
- Associates (IAS 28)
Examined before but absent from Autumn 2026: Analysis and interpretation. A skipped area is a reasonable candidate to revise early, but a gap in a handful of papers predicts nothing, so don't drop any syllabus area.
Average marks by area
Average marks per sitting across the indexed papers.
What to prioritise
- Heaviest areas. Consolidation (IFRS 10 / IFRS 3) (18 marks a sitting); Revenue (IFRS 15) (13.5 marks a sitting); Leases (IFRS 16) (13 marks a sitting); Income taxes (IAS 12) (12.5 marks a sitting). Between them these carry about 57 of every 100 marks.
- Where candidates lose the most. The lowest published pass rates were Spring 2026 Q4 (Revenue (IFRS 15), 3%); Autumn 2026 Q9 (Revenue (IFRS 15), 8%); Spring 2026 Q5 (Analysis and interpretation, 24%); Spring 2026 Q6 (Financial instruments and ECL (IFRS 9), 27%). Work through those walkthroughs first.
- Don't skip the short areas. The MCQs and shorter questions regularly test smaller areas such as Intangible assets (IAS 38), Analysis and interpretation. Chapter MCQs are the fastest way to cover them.
- Check the syllabus. Only two sittings exist under the 2025 scheme so far, so 'every sitting' below means both 2026 papers.
Syllabus weightings
Weightings from ICAP's published syllabus, against the marks actually set in each sitting (our classification of each question into a syllabus section).
| Section | Syllabus weight | Spring 2026 | Autumn 2026 |
|---|---|---|---|
| A. Financial statements and their analysis (groups, associates, EPS, local law) | 20–30% | 34 | 29 |
| B. Essential transactions, ethics and sustainability (tax, revenue, intangibles) | 35–45% | 28 | 39 |
| C. Other areas of IFRS (segments, leases, financial instruments, provisions, FX) | 30–40% | 38 | 32 |
Practice questions on the most-examined areas
Original exam-style questions written by us, with our own numbers. Try each before opening the solution.
Original practice question
Contingent consideration and a bargain purchase
P acquires 60% of S on 1 July 2025 for Rs 300m cash plus contingent consideration with a fair value of Rs 80m (Rs 95m at 31 December 2025). NCI's fair value is Rs 180m. S's net assets are Rs 550m at book value plus an unrecognised brand worth Rs 50m (5-year life). P also holds 30% of associate A and sold A a machine on 1 October 2025 at a Rs 10m gain (5 years' life left). On 31 December S declared a dividend of Rs 20m, unrecorded by S; P has recorded its Rs 12m receivable.
Required: Calculate goodwill, the contingent consideration effect, the brand amortisation, the associate adjustment and the dividend effect.
Show worked solution
| Working | Rs m |
|---|---|
| Goodwill: 300 + 80 + 180 − 600 | (40) → bargain purchase gain |
| Contingent consideration increase (P&L) | 15 |
| Brand amortisation: 50 ÷ 5 × 6/12 | 5 |
| Unrealised gain on sale to A: (10 − 10 ÷ 5 × 3/12) × 30% | 2.85 |
| Dividend: S liability | 20 (12 eliminated, 8 owed to NCI) |
Answer: Gain on bargain purchase Rs 40m in P&L after reassessment; contingent consideration liability Rs 95m; reduce the associate by Rs 2.85m; show Rs 8m dividend payable to NCI.
Topic seen in CAF-6 Autumn 2026 Q8 – full walkthrough there.
Original practice question
Three IFRS 15 arrangements
(a) A package of goods (SSP Rs 45m) and two years' support (SSP Rs 15m) is sold for Rs 50m in total; goods delivered and support started on 1 November 2025. (b) The company paid a customer Rs 3m on 1 July 2025 for 12 months of display space; it expects Rs 60m of sales to that customer over the 12 months, Rs 20m of which fell in 2025. (c) A machine (SSP Rs 20m) sold for Rs 20m on 1 October 2025 includes an option to buy up to 500 kits at Rs 6,000 (SSP Rs 10,000); 400 are expected to be bought. 100 were bought by year-end.
Required: Calculate 2025 revenue for each.
Show worked solution
| Part | Working | Rs m |
|---|---|---|
| (a) Goods | 50 × 45 ÷ 60 | 37.50 |
| (a) Support allocated | 50 × 15 ÷ 60 = 12.5; 2025: × 2/24 | 1.04 |
| (b) Revenue reduction | 3 × 20 ÷ 60 (rest is a prepayment) | (1.00) |
| (c) Option SSP | 400 × (10,000 − 6,000) = 1.6 | |
| (c) Machine | 20 × 20 ÷ 21.6 | 18.52 |
| (c) Kits | 100 × 6,000 + 1.48 × 100 ÷ 400 | 0.97 |
Answer: (a) Rs 38.54m with Rs 11.46m deferred; (b) revenue reduced by Rs 1m, Rs 2m prepaid; (c) Rs 19.49m with Rs 1.11m of the option still deferred.
Topic seen in CAF-6 Autumn 2026 Q9 – full walkthrough there.
Original practice question
Lease with rentals in advance and a purchase option
From 1 January 2024 a company leases a machine: five half-yearly rentals of Rs 20m in advance (1 January 2024 to 1 January 2026) and a purchase option of Rs 30m on 30 June 2026 that it will exercise. Rate 4% per half-year. Initial direct costs Rs 2m. Useful life 6 years, residual Rs 5m. Revaluation model: fair value Rs 85m at 31 December 2024 and Rs 75m at 31 December 2025.
Required: Calculate the ROU asset and lease liability figures for 2024 and 2025.
Show worked solution
| Lease liability | Rs m |
|---|---|
| PV at 1 Jan 2024 of 4 rentals + option | 97.256 |
| Interest 2024 | 7.136 |
| Paid 1 Jul 2024 | (20.000) |
| 31 Dec 2024 | 84.392 |
| … current (paid off by 1 Jul 2025) | 37.424 |
| … non-current | 46.967 |
| Interest 2025 | 4.454 |
| Paid 1 Jan and 1 Jul 2025 | (40.000) |
| 31 Dec 2025 (all current) | 48.846 |
| ROU asset | Rs m |
|---|---|
| Cost: 97.256 + 20 + 2 | 119.256 |
| Depreciation 2024: (119.256 − 5) ÷ 6 | (19.043) |
| Carrying amount before revaluation | 100.213 |
| Revaluation loss 2024 to P&L | (15.213) |
| 31 Dec 2024 | 85.000 |
| Depreciation 2025: (85 − 5) ÷ 5 | (16.000) |
| Revaluation gain 2025 to P&L (reverses part of 2024 loss) | 6.000 |
| 31 Dec 2025 | 75.000 |
Answer: Liability Rs 84.392m (2024) and Rs 48.846m (2025); ROU asset Rs 85m and Rs 75m.
Topic seen in CAF-6 Autumn 2026 Q7 – full walkthrough there.
CAF-6 chapter MCQs
Free MCQs with explanations for every area in the index.
Official resources
- CAF syllabus (Spring 2027)
- CAF-6 examiners' comments (all sittings)
- CAF-6 suggested answers – ICAP student login required
- ICAP CAF-6 official page