ACCA publishes the standards each exam can test. For FR in the September 2026, December 2026, March 2027 and June 2027 sessions, the list includes IFRS 18 on presentation, and IAS 1 is not on it.
Sessions
September 2026, December 2026, March 2027, June 2027
Cut-off
Documents issued by 31 August 2025
Presentation
IFRS 18 Presentation and Disclosure in Financial Statements
Not examinable in FR
IAS 1, IAS 19, IAS 24, IAS 34, IFRS 1, 2, 8, 11, 12 and 19, IFRS S2 and the IFRS for SMEs
The standards on the list
IAS 2, 7, 8 (now titled Basis of Preparation of Financial Statements), 10, 12, 16, 20, 21, 23, 27, 28, 32, 33, 36, 37, 38, 40 and 41.
IFRS 3, 5, 7, 9, 10, 13, 15, 16 and 18.
IFRS S1 and the Conceptual Framework for Financial Reporting.
What IFRS 18 changes
IFRS 18 replaces IAS 1 for the statement of profit or loss. Income and expenses are classified into categories, chiefly operating, investing and financing, and the statement shows two new subtotals: operating profit, and profit before financing and income taxes.
For FR practice, that means laying out a statement of profit or loss in those categories and knowing where items such as interest, investment income and income tax go.
How this course follows it
Every question and lesson here is written to the examinable documents for these sessions, with presentation under IFRS 18 rather than IAS 1.
Try 3 questions
Question 1 · Section A · Syllabus B92 marks
Reporting financial performance
Penrith Co's profit for the year ended 31 December 20X6 was $4,620,000. It paid dividends of $300,000 on irredeemable preference shares, which are classified as equity.
On 1 January 20X6 it had 6,000,000 ordinary shares in issue. On 1 October 20X6 it issued a further 2,400,000 ordinary shares for cash at full market price.
What is Penrith Co's basic earnings per share for the year ended 31 December 20X6, in cents to one decimal place? (2 marks)
$
Question 2 · Section A · Syllabus B112 marks
Government grants
On 1 April 20X6 Belmont Co bought a machine for $800,000 and received a government grant of 25% of its cost. The machine has a useful life of 8 years with no residual value. Belmont Co presents grants related to assets as deferred income, released on the same basis as the machine is depreciated.
What amount should be shown as non-current deferred income at 31 December 20X6? (2 marks)
$
Question 3 · Section A · Syllabus B122 marks
Foreign currency transactions
Penrith Co's functional currency is the dollar ($). Each of the following items is denominated in a foreign currency.
Which TWO of the following items are retranslated at the closing rate at the year end? (2 marks)