CA Final · September 2025 · Paper 1
CA Final Financial Reporting September 2025: paper analysis
Our own analysis of the official paper, as of 12 October 2026. The questions and answers belong to ICAI; read them on ICAI's website.
Chapter-wise marks
Where the marks were in this paper (out of 100; internal-choice alternatives not double counted).
What each question tested
In our words, by question number. Open the official paper for the full question.
| Q | Marks | Tests | Chapter |
|---|---|---|---|
| 1 | 14 | Consolidated balance sheet with step acquisition, preference shares, pre-acquisition dividend and asset revaluation adjustments | Ind AS 110 Consolidation Procedure for Subsidiaries |
| 2(a) | 10 | Compound convertible debentures: initial split, effective interest schedule and accounting for repurchase | Financial Instruments: Equity and Financial Liabilities |
| 2(b) | 4 | Effect of foreign exchange gains and losses on cash flows under the indirect method | Ind AS 7 Statement of Cash Flows |
| 3(a) | 8 | Defined benefit plan movements: service cost, net interest, remeasurement and plan assets | Ind AS 19 Employee Benefits |
| 3(b) | 6 | Basic and diluted EPS with employee share options and warrants outstanding | Ind AS 33 Earnings per Share |
| 4(a) | 6 | Capitalisation of specific and general borrowing costs on a qualifying building across several years | Ind AS 23 Borrowing Costs |
| 4(b) | 8 | Foreign currency loan at amortised cost: interest and exchange differences | Ind AS 21 The Effects of Changes in Foreign Exchange Rates |
| 5(a) | 5 | Variable consideration from a performance bonus and the effect of a contract modification | Ind AS 115 Revenue from Contracts with Customers |
| 5(b) | 5 | Transition adjustments and exemptions for property, goodwill and loans on first-time adoption | Ind AS 101 First-time Adoption of Ind AS |
| 5(c) | 4 | Presentation of exceptional and material items under Ind AS versus statutory requirements | Ind AS 1 Presentation of Financial Statements |
| 5(c) OR | 4 | Definitions of equity, income and expenses and their usefulness to users | Conceptual Framework for Financial Reporting under Indian Accounting Standards (Ind AS) |
| 6(a) | 5 | Choosing suitable technologies to automate group consolidation and protect sensitive data | Accounting and Technology |
| 6(b) | 5 | Impairment of a revalued machine using value in use and fair value less costs of disposal | Ind AS 36 Impairment of Assets |
| 6(c) | 4 | Correcting prior period errors discovered in the following year | Ind AS 8 Accounting Policies, Changes in Accounting Estimates and Errors |
What stood out
- The MCQ section was the broadest of the three attempts, touching 15 different chapters with no chapter repeated.
- Consolidation was the compulsory question, this time with a step acquisition and preference capital.
- Employee benefits, compound instruments and borrowing costs were the main numerical blocks outside consolidation.
- Less common areas such as Ind AS 41, Ind AS 102 and commodity derivative contracts appeared in MCQs.
- Accounting and Technology appeared in Question 6(a), and recurred in May 2026, confirming it as a regular 5-mark item.
Practise the chapters that carried the marks
Ind AS 110 Consolidation Procedure for Subsidiaries, Financial Instruments: Equity and Financial Liabilities, Ind AS 19 Employee Benefits: study guides and practice questions in the CA Final format.