The examination is a three-hour paper. Most questions will contain a mix of computational and discursive elements. Some questions will adopt a scenario/case study approach.

All questions are compulsory. The first question will attract 40 marks. It will involve preparation of one or more of the consolidated financial statements that are explainable within the syllabus. This question will include several issues that will need to be addressed prior to performing the consolidation procedures.

Generally these issues will relate to the financial statements of the parent prior to their consolidation. The other three questions will attract 20 marks each. These will often be related to a scenario in which questions arise regarding the appropriate accounting treatment and or disclosure of a range of issues.

In such questions candidates may be expected to comment on management’s chosen accounting treatment and determine a more appropriate one, based on circumstances described in the question. Often one of the questions will focus more specifically on the requirements of one specific International Financial Reporting Standard.

For more details visit IFRS course by EY