Financial Reporting
Fully Ind AS — conceptual framework to consolidation, every working shown.
Free tier first, always. 20 MCQs a day, no card.
Full syllabus — 17 chapters
Inside Financial Reporting
- Introduction to Indian Accounting StandardsIFRS convergence, Ind AS applicability, carve-outs — tested as MCQs and as opening lines of bigger questions.
- Conceptual Framework for Financial Reporting under Ind ASDefinitions of elements, recognition criteria, measurement bases — the theory layer examiners quote in case-scenario marks.
- Ind AS on Presentation of Items in the Financial StatementsInd AS 1 & 8 — OCI classification and accounting policy changes show up in virtually every attempt.
- Ind AS on Measurement Based on Accounting PoliciesFair value (Ind AS 113), events after balance sheet, accounting estimates — measurement marks are easy to drop if concepts are blurry.
- Ind AS 115 — Revenue from Contracts with CustomersThe 5-step model — a near-certain appearance; computation and disclosure both tested most attempts.
- Ind AS on Assets of the Financial StatementsPPE, intangibles, investment property, impairment, borrowing costs — asset accounting is the single heaviest mark area in Paper 1.
- Other Indian Accounting StandardsLeases (Ind AS 116), agriculture, government grants — Ind AS 116 right-of-use workings are a fixture in recent exams.
- Ind AS on Liabilities of the Financial StatementsProvisions (Ind AS 37), employee benefits (Ind AS 19) — actuarial workings and contingencies tested every other attempt.
- Ind AS on Items Impacting the Financial StatementsIncome taxes (Ind AS 12) — deferred tax is consistently 10–14 marks and students consistently lose it; master it.
- Ind AS on Disclosures in the Financial StatementsRelated party, segment, interim reporting — disclosure-only questions are quick marks if you know the threshold criteria.
- Accounting and Reporting of Financial InstrumentsInd AS 32 & 109 — classification, ECL, hedging accounting; one of the most technical and highest-reward chapters.
- Ind AS 103 — Business CombinationsAcquisition method, goodwill computation, NCI — common as a standalone question and inside the consolidation question.
- Consolidated and Separate Financial Statements of Group EntitiesCFS with Ind AS 110/28/111 — the compulsory 20-mark question at least once per attempt; non-negotiable chapter.
- Ind AS 101 — First-time Adoption of Indian Accounting StandardsOptional and mandatory exemptions on transition — conceptual chapter, often 5–8 marks, misread by most.
- Analysis of Financial StatementsRatio analysis and DuPont — scoring chapter; interpretation marks are awarded even with minor calculation errors.
- Professional and Ethical Duty of a Chartered AccountantICAI Code, independence, NOCLAR — short-mark scenario questions; read the Code once properly and it stays.
- Accounting and TechnologyBlockchain, data analytics, ERP in FR context — newer syllabus chapter; expect 4–6 mark MCQ-style or theory questions.
Chapter list as per the current ICAI New Scheme study material. Every Pookie question cites its ICAI source; solutions follow ICAI marking-scheme structure.
How it works here
Question → your attempt → marks per step
You answer first. Then the solution opens step by step, with the marks each step carries — so you see exactly where answers gain and lose marks in the real exam.
Be first to know.
Launches are announced on the Telegram channels first. Pick yours by level — free.