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 | Ten one-mark MCQs: segments (a cost-centre component and the 75% test), Companies Act schedules and size reclassification, foreign currency advances, IFRS S1 core content and scope, two ethics conflicts and functional currency. | 10 | 71% | Paper Comments | Q1 walkthrough |
| Q2 | Income taxes (IAS 12) | Taxation note and reconciliation with a mid-year rate cut applying to the current year, PPE timing differences, a first land revaluation, a non-deductible payment, a temporarily exempt grant and a warranty provision. | 10 | 76% | Paper Comments | Q2 walkthrough |
| Q3 | Financial instruments and ECL (IFRS 9) | Two years of journal entries for a debt instrument at amortised cost, moving from 12-month to lifetime expected credit losses after a significant increase in credit risk. | 6 | 65% | Paper Comments | Q3 walkthrough |
| Q4 | Earnings per share (IAS 33) | Explain how four transactions (cumulative equity preference shares with no dividend declared, a rights issue at market price, options below average price, a bonus issue after year-end) affect basic and diluted EPS. | 8 | 63% | Paper Comments | Q4 walkthrough |
| Q5 | Intangible assets (IAS 38) | SOPL and SOFP extracts with comparatives for an internally built platform (when capitalisation and amortisation start) and a licence whose life becomes indefinite after a renewal mechanism is introduced. | 7 | 42% | Paper Comments | Q5 walkthrough |
| Q6 | Provisions and events after the reporting period (IAS 37 / IAS 10) | Provision, disclosure or nothing for three matters: contamination covered by a published policy, a legal requirement the company chose not to meet, and a closure decided before but announced after year-end. | 8 | 42% | Paper Comments | Q6 walkthrough |
| Q7 | Leases (IFRS 16) | Lessee accounting for a machine lease with half-yearly rentals in advance and a purchase option: right-of-use note under the revaluation model, and lease liability movement with current and non-current split. | 14 | 38% | Paper Comments | Q7 walkthrough |
| Q8 | Consolidation (IFRS 10 / IFRS 3) | Consolidated statement of financial position after a late-year acquisition with contingent consideration and an unrecognised brand, an associate with an asset sale, intra-group inventory and plant, an unrecorded subsidiary dividend and FVOCI investments. | 19 | 42% | Paper Comments | Q8 walkthrough |
| Q9 | Revenue (IFRS 15) | Explanations with dated journal entries for three revenue arrangements: two linked contracts priced off stand-alone values, a shelf-space payment to a customer, and a machine sale with a discounted parts option and a general voucher. | 18 | 8% | Paper Comments | Q9 walkthrough |
Marks by area
All 100 marks set, by area. MCQ items count towards their own area.
Consolidation (IFRS 10 / IFRS 3)19 marks
Revenue (IFRS 15)18 marks
Leases (IFRS 16)14 marks
Income taxes (IAS 12)10 marks
Earnings per share (IAS 33)8 marks
Intangible assets (IAS 38)7 marks
Operating segments (IFRS 8)2 marks
Foreign currency (IAS 21)2 marks
Against the syllabus weightings
| Section | Syllabus weight | Autumn 2026 marks |
|---|---|---|
| A. Financial statements and their analysis (groups, associates, EPS, local law) | 20–30% | 29 |
| B. Essential transactions, ethics and sustainability (tax, revenue, intangibles) | 35–45% | 39 |
| C. Other areas of IFRS (segments, leases, financial instruments, provisions, FX) | 30–40% | 32 |
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 · MCQs71%
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 edged up, helped by strong results in the first three questions.
- The three-part IFRS 15 question (Q9) was exceptionally weak at 8%: candidates wrote entries without explaining the principle, and mixed up material rights with general promotions.
- The examiners ask candidates to analyse the substance of each transaction, explain the treatment and give properly referenced workings for every part of the requirement.