Level I · 2026 curriculum · 11–14% of the exam
Financial Statement Analysis
Financial Statement Analysis is one of the heaviest topics: reading, adjusting and comparing the income statement, balance sheet and cash flow statement under IFRS and US GAAP.
Exam weight11–14%
≈ Questions in a 180-question exam22
What the questions cover
- Revenue and expense recognition, and earnings per share
- Balance sheet classification and measurement
- Cash flow statements (direct and indirect) and free cash flow
- Ratio analysis, including DuPont analysis
- Inventories, long-lived assets, income taxes and long-term liabilities
- Financial reporting quality and warning signs
- Differences between IFRS and US GAAP
How to study it
- For every accounting choice, ask how it moves income, assets, cash flow and the key ratios.
- Keep a one-page list of IFRS vs US GAAP differences and revise it often.
- Table questions reward a steady routine: identify the line items you need first, then calculate.
See how you do on Financial Statement Analysis under exam conditions
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