This page is for accountants, finance staff and students preparing for ACCA's IFRS certificate assessment, which is an online exam of 25 multiple-choice questions with a 1 hour limit. It gives you free practice sets by topic, worked explanations of sample questions, a study plan, and the fee and format facts we could confirm from ACCA.
According to ACCA, “one hour online exam which consists of 25 multiple choice questions”[1]
The ACCA Certificate in International Financial Reporting (CertIFR) is the assessment this page is built around. It suits people who prepare or read financial statements and want a recognised grounding in IFRS Accounting Standards. It is delivered online and on demand, so you can apply at any time rather than waiting for a fixed sitting.
The assessment is an online exam of 25 multiple-choice questions with a time limit of 1 hour. The course and assessment are sold together for £310, or £230 for ACCA members. If you only need the assessment, the assessment-only option costs £200, or £150 for ACCA members. That is also the figure to check if you need to sit again.
ACCA's older Malaysia listing for a Certificate in IFRS for SMEs shows £235 for course and assessment together, or £130 each, with member prices of £180, or £95 each. Fees change and differ by region, so confirm the current price on the ACCA site.
This page does not state the pass mark, how results are reported, eligibility conditions or retake limits, because none of those appear in the sources we checked. Read ACCA's date and fee page before you apply, and treat our questions as practice written by us, not as real exam items.
Numbers in brackets link to the official sources listed under Sources & last verified. Dates that have passed are removed automatically.
| Item | Detail | Source · Verified |
|---|---|---|
| Number of questions (ACCA Certificate in International Financial Reporting (CertIFR)) | 25 multiple-choice questions[1] | ACCA · Oct 25, 2026 |
| Time limit (ACCA Certificate in International Financial Reporting (CertIFR)) | 1 hour[1] | ACCA · Oct 25, 2026 |
| Exam fee (ACCA Certificate in International Financial Reporting (CertIFR)) | £310 course + assessment (£230 for ACCA members)[2] | ACCA · Oct 25, 2026 |
| Exam fee (Certificate in IFRS for SMEs (legacy ACCA Malaysia listing)) | £235 course + assessment, or £130 each; members £180, or £95 each[3] | ACCA · Oct 25, 2026 |
| Retake fee (ACCA Certificate in International Financial Reporting (CertIFR)) | Assessment only: £200 (£150 for ACCA members)[2] | ACCA · Oct 25, 2026 |
| Delivery (ACCA Certificate in International Financial Reporting (CertIFR)) | Online, on demand (apply at any time)[2] | ACCA · Oct 25, 2026 |
The content areas below are copied from the official IFRS for SMEs) content outline published by ACCA. The right-hand column shows which of our practice sets covers it.
| Official content area | Practice on this site |
|---|---|
| Accounting for assets, impairments and grants[4] | IFRS for SMEs) IFRS for SMEs Property and ... Practise when an asset is written down, how impairment is recognised, and how grants are matched to the costs they cover. |
| Accounting for financial instruments[4] | IFRS for SMEs) IFRS for SMEs Financial Ins... Practise telling basic instruments from more complex ones and choosing the right measurement basis. |
| Accounting for leases and specialised assets[4] | IFRS for SMEs) IFRS for SMEs Leases and Se... Practise classifying leases and recognising the entries each party makes, including service concession arrangements. |
| Accounting for liabilities[4] | IFRS for SMEs) IFRS for SMEs Employee Bene... Practise when a liability or provision is recognised, with employee benefits and share-based payment as worked cases. |
| Accounting for non-current assets[4] | IFRS for SMEs) IFRS for SMEs Property and ... Practise initial cost, depreciation and later measurement of property, plant and equipment. |
| Disclosure standards and first-time adoption[4] | IFRS for SMEs) IFRS for SMEs Disclosure Re... Practise what the notes must explain and what changes when a business adopts the standard for the first time. |
| Group accounting – part 1[4] | IFRS for SMEs) IFRS for SMEs Consolidation... Practise deciding which entities are consolidated and how intra-group balances are removed. |
| Group accounting – part 2[4] | IFRS for SMEs) IFRS for SMEs Business Comb... Practise acquisition accounting, goodwill and non-controlling interests. |
| IFRS Accounting Standards and other reporting frameworks[4] | IFRS for SMEs) IFRS for SMEs Framework and... Practise which entities may use the standard for smaller entities and how it differs from full IFRS Accounting Standards. |
| IFRS Accounting Standards - global convergence and continued development[4] | Mixed practice tests above Read ACCA's learning material on how standards are adopted across jurisdictions and revised over time, since we have no dedicated set. |
| Revenue, presentation and profit[4] | IFRS for SMEs) IFRS for SMEs Revenue and E... Practise when revenue is recognised and how the primary statements present profit and equity movements. |
| The International Accounting Standards Board and IFRS Accounting Standards[4] | IFRS for SMEs) IFRS for SMEs Recognition a... Practise the recognition and measurement principles that the Board's standards are built on. |
Prepare for the IFRS for SMEs) exam with our free practice test modules. Each quiz covers key topics to help you pass on your first try.
These are practice questions written for this site, not questions from the real exam. Each explanation shows why the right answer is right and why the others are wrong.
Question: What does the statement of changes in equity report?
Answer: A. Changes in equity, including retained earnings and dividends
Explanation:
The correct answer is that the statement of changes in equity reports changes in equity, including retained earnings and dividends. It reconciles the opening and closing balance of each component of equity, so profit or loss, other comprehensive income, dividends and owner contributions all appear in it.
The option about only net income is wrong because profit is just one movement among several. The option about only cash transactions is wrong because the statement is not on a cash basis; the cash flow statement covers cash. The option about financial liabilities is wrong because liabilities belong in the statement of financial position.
Rule to remember: this statement explains how the owners' stake moved between two dates.
Question: Under IFRS for SMEs, if share options are granted with no vesting conditions (immediately vested), the expense is recognized:
Answer: A. Immediately on the grant date
Explanation:
The correct answer is that the expense is recognised immediately on the grant date. When options vest immediately, the counterparty is treated as having already provided the service, so there is nothing left to spread over time.
Spreading the cost over an assumed vesting period is wrong because no period is assumed when there are no vesting conditions. Recognising the cost when options are exercised is wrong because exercise is a later event that affects equity and cash, not the timing of the expense. Deferring the cost until the option expires is wrong for the same reason, since expiry has no bearing on when the service was received.
Rule to remember: the expense follows when the service is received, and with immediate vesting that is the grant date.
Question: What is the purpose of notes to financial statements?
Answer: A. To explain accounting methods, assumptions, and estimates
Explanation:
The correct answer is that notes explain accounting methods, assumptions and estimates. They add context to the figures in the primary statements, including the accounting policies chosen, significant judgments and sources of estimation uncertainty.
Summarising revenue transactions is wrong because that is a job for the income statement and, where needed, a revenue disclosure, not the purpose of notes as a whole. Replacing the cash flow statement is wrong because notes support the primary statements and never substitute for one. Reducing the number of reports is wrong because required statements stay required whatever the notes say.
Rule to remember: the primary statements give the numbers, and the notes explain how those numbers were produced.
Start with ACCA's own learning material for the certificate so you know the content areas and the style of the assessment. Then use the table above to match each area to a practice set.
Take a set cold, without notes, and read the explanation for every question, including the ones you got right. Write down the rule behind each miss in a single line, in your own words. Return to those lines before your next session and retry the set that produced them.
Give extra time to the areas that feel abstract: groups and goodwill, financial instruments, and the link between recognition and disclosure. Work through the questions on the notes and the statement of changes in equity as well, because they test definitions that cost easy marks when ignored.
Before you book, run a few sets in a row under the 1 hour limit, aiming for the pace of 25 questions. Confirm the current fee and format on the ACCA site, since our questions are practice material written by us and are not real exam items.
ACCA describes the Certificate in International Financial Reporting assessment as an online exam of 25 multiple-choice questions with a time limit of 1 hour. Check ACCA's learning pack page for the current wording before you book, as formats can be updated.
ACCA lists the course and assessment together for £310, or £230 for ACCA members. The assessment-only option is £200, or £150 for members. An older Malaysia listing for a Certificate in IFRS for SMEs shows different prices, so confirm your region's fee on ACCA's site.
Yes. ACCA states that you can apply to do the Certificate in International Financial Reporting online at any time, and it is delivered online on demand. You do not need to wait for a fixed exam window, though you should read ACCA's current booking steps.
We do not state a pass mark because it is not in the sources we verified. Check ACCA's official certificate pages for the current requirement and how results are reported. Our practice sets show your score on each set, but that is not a prediction of your result.
No. The questions are written by us using AI tools and are practice material only, not real exam items. They are meant to test the same topics and build the reasoning habits you need, so use them alongside ACCA's own learning material.
How we verify: editorial & fact-checking policy. Report an error: contact us.