Certificate in International Financial Reporting Study Guide 2026

Everything you need to pass the Certificate in International Financial Reporting exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.

Certificate in International Financial Reporting exam key facts

  • The Certificate in International Financial Reporting assessment consists of 25 multiple choice questions. Source
  • The Certificate in International Financial Reporting assessment has a time limit of 1 hour. Source
  • The pass mark for the Certificate in International Financial Reporting assessment is 50%. Source
  • The Certificate in International Financial Reporting registration fee covers three attempts to pass the assessment. Source
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📋 Certificate in International Financial Reporting Exam Format at a Glance

25
Questions
60 min
Time Limit
50.00%
Passing Score

📚 Certificate in International Financial Reporting Topics to Study (21)

✍️ Sample Certificate in International Financial Reporting Questions & Answers

1. Under IFRS 9, what is the 'SPPI' test used to determine?
✓ Whether contractual cash flows are solely payments of principal and interest

The SPPI test ensures the cash flows are consistent with a basic lending arrangement, enabling amortised cost classification.

2. Under IAS 37, a contingent liability is:
✓ Disclosed in the notes but not recognised in the financial statements

A contingent liability is disclosed rather than recognised because the outflow is possible but not probable.

3. Under IFRS 16, the lease liability is initially measured at:
✓ The present value of future lease payments not paid at commencement

IFRS 16 requires discounting future lease payments using the rate implicit in the lease or the incremental borrowing rate.

4. Under IAS 1, how should material items be presented in the financial statements?
✓ Separately disclosed

IAS 1 requires material items to be presented separately so users can assess their effect.

5. Under IAS 19, short-term employee benefits (e.g., wages, paid annual leave) are measured:
✓ At the undiscounted amount expected to be paid

Short-term benefits are not discounted because they are expected to be settled within 12 months.

6. Under IAS 36, an impairment loss is recognised when an asset's carrying amount exceeds its:
✓ Recoverable amount

IAS 36 requires recognition of an impairment loss when carrying amount exceeds the higher of fair value less costs of disposal and value in use.

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Your Certificate in International Financial Reporting Study Path
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How this page was made: written with AI tools and published by Nathan Beja, founder of Practice Test Geeks, who is responsible for its content. Exam facts are checked against the official sources listed below. Not reviewed by a subject-matter expert. Editorial policy

Sources & references

Exam facts on this page (fees, format, dates, passing scores) are checked against these official sources; the date is our last check. Editorial policy

  1. accaglobal.com — Passing score, registration, retake policy, test dates, time limit, test delivery, exam format, fees, eligibility, exam information · verified Oct 2026