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: functional currency, segment 75% rule, inventory bought in foreign currency, IFRS S1 objective and materiality, Fourth Schedule line items, donation disclosure, two ethics principles and restated EPS. | 10 | 78% | Paper Comments | Q1 walkthrough |
| Q2 | Leases (IFRS 16) | Extracts from both the lessor's and lessee's statements for one finance lease, with guaranteed and unguaranteed residual values, initial direct costs and different discount rates. | 12 | 73% | Paper Comments | Q2 walkthrough |
| Q3 | Earnings per share (IAS 33) | Basic and diluted EPS with a rights issue below market price, a later bonus issue, share warrants and convertible bonds issued part-way through the year. | 8 | 73% | Paper Comments | Q3 walkthrough |
| Q4 | Revenue (IFRS 15) | Discussion of how two sales incentives (long interest-free credit for retail buyers and a full-refund return right for wholesalers) affect revenue recognition and measurement. | 9 | 3% | Paper Comments | Q4 walkthrough |
| Q5 | Analysis and interpretation | Discussion of how three board decisions (deposits into an associate, a short lease turned long, adopting revaluation) move six ratios. | 6 | 24% | Paper Comments | Q5 walkthrough |
| Q6 | Financial instruments and ECL (IFRS 9) | SOPL/OCI and SOFP extracts with comparatives for bonds held at fair value through OCI whose credit risk rose significantly, with 12-month and lifetime ECL figures. | 8 | 27% | Paper Comments | Q6 walkthrough |
| Q7 | Provisions and events after the reporting period (IAS 37 / IAS 10) | Discussion of four independent year-end matters for a listed manufacturer: a lawsuit updated after year-end, a possible environmental penalty with prejudicial disclosure, an extended warranty, and a customer's post-year-end bankruptcy. | 15 | 35% | Paper Comments | Q7 walkthrough |
| Q8 | Consolidation (IFRS 10 / IFRS 3) | Consolidated statement of profit or loss for a parent with a subsidiary acquired at the start of the year and an associate acquired mid-year: deferred and share consideration, fair value adjustments, disposal of revalued vehicles, intra-group trading and loan, goodwill impairment. | 17 | 42% | Paper Comments | Q8 walkthrough |
| Q9 | Income taxes (IAS 12) | Taxation note with a tax rate reconciliation for a loss-making year, plus deferred tax on each temporary difference: investment property at fair value, rent-free lease income, development costs, PPE, unused losses and a rate cut. | 15 | 38% | 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)17 marks
Income taxes (IAS 12)15 marks
Leases (IFRS 16)12 marks
Earnings per share (IAS 33)9 marks
Revenue (IFRS 15)9 marks
Analysis and interpretation6 marks
Foreign currency (IAS 21)2 marks
Operating segments (IFRS 8)1 marks
Against the syllabus weightings
| Section | Syllabus weight | Spring 2026 marks |
|---|---|---|
| A. Financial statements and their analysis (groups, associates, EPS, local law) | 20–30% | 34 |
| B. Essential transactions, ethics and sustainability (tax, revenue, intangibles) | 35–45% | 28 |
| C. Other areas of IFRS (segments, leases, financial instruments, provisions, FX) | 30–40% | 38 |
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 · MCQs78%
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 overall pass rate held steady, close to the five-session average, but question results varied widely.
- Candidates handled structured, familiar computations well and struggled with discussion and interpretation; the IFRS 15 discussion question had a 3% pass rate.
- Generic answers that did not connect the standard to the scenario, and numbers without workings, were the recurring reasons for lost marks.