CA Final Nov 2026 FR important questions: 10 repeat types

CA Final FR important questions for November 2026 are ten question types ICAI keeps setting: a consolidation in Question 1, a financial instrument in Question 2(a), Ind AS 115, Ind AS 101, Ind AS 19, government grants, EPS, impairment, fair value and valuation, and short theory on technology and ethics. Each was set at least twice in ICAI's last four FR papers. Below: where, the working that earns marks, and the trap.

FR is on Monday, 2 November 2026. For marks by Ind AS, see our CA Final FR chapter-wise weightage and ABC analysis; this post is about the questions inside those chapters.

Where these FR important questions come from

Every reference is from ICAI's Paper 1 suggested answers: May 2025 (PDF) (opens in a new tab), September 2025 (PDF) (opens in a new tab), January 2026 (PDF) (opens in a new tab) and May 2026 (PDF) (opens in a new tab). The amendment questions are from ICAI's RTP for November 2026, Group I (PDF) (opens in a new tab). The grouping into types is ours.

CA Final FR important questions: the 10 types at a glance

Each paper prints 114 marks; you answer 100. Question 1 and the MCQs are compulsory, then any four of Questions 2 to 6.

1. Consolidation: Question 1, every time

Question 1, compulsory and 14 marks, was group accounting in all four papers, and three of the four were step acquisitions: a stake bought first, then a second purchase that gave control.

• May 2025: 15%, then 55% more, paid in cash plus shares, with contingent consideration.
• September 2025: two purchases of R Ltd.'s shares in one year, NCI at fair value.
• January 2026: 80% for cash, shares and ₹6 lakhs payable after three years; goodwill impaired by 25%.
• May 2026: 30%, then 40% more to gain control.

What wins marks, from May 2026: remeasure the old stake at fair value on the date of control. ICAI took consideration as ₹24,00,000 for the 40% + ₹17,50,000 fair value of the 30% (cost ₹15,00,000) = ₹41,50,000, added NCI at fair value of ₹16,00,000, and deducted net identifiable assets of ₹47,00,000, including an unrecorded intangible of ₹8,50,000. Goodwill: ₹10,50,000, and a ₹2,50,000 gain on the old stake.

The trap: not everything paid to sellers is consideration. In May 2025, ₹15 lakhs to a promoter "provided he stays with the company for two years" was, per ICAI, a post-combination expense, while contingent consideration went in at present value (₹35 lakhs × 0.83 = ₹29.05 lakhs).

2. Financial instruments: Question 2(a), 10 marks

Question 2(a) was Ind AS 32 or 109 in every paper: a loan modification (May 2025), a convertible bought back early (September 2025), an interest-free loan to a subsidiary (January 2026) and convertible debentures with a put (May 2026).

What wins marks, from May 2026: 50,000 debentures of ₹100 at 6%, with the holder able to demand repayment at a 5% premium after three years, and a market rate of 10%.

The trap: ICAI measured cash flows only up to the put date (three years), not to maturity in year five. On repayment, the equity component moves within equity, never to profit or loss. In May 2025, the test was the 10% rule: the new cash flows at the original effective rate differed by 11.90%, so the old loan was extinguished, with a ₹2,54,753 loss.

3. Ind AS 115: Question 5(a), 5 marks

Q5(a) was Ind AS 115 in all four papers, each on a different part: licences (May 2025), a bonus with a contract modification (September 2025), a financing component (January 2026) and bill-and-hold (May 2026).

What wins marks: state the test, then apply it fact by fact. In January 2026, instalments of ₹2,50,438 for five years were discounted at the 10% market rate, not the 8% contract rate: transaction price ₹2,50,438 × 3.79 = ₹9,49,160, recognised as revenue at inception, with interest income over the five years.

The trap: in May 2026, ICAI found three performance obligations, not the two the question named: the machine, the spare parts (all four bill-and-hold conditions met), and the custodial service of storing the parts, recognised over one to three years.

4. Ind AS 101: Question 5(b), 5 marks

Q5(b) was first-time adoption in the last three papers. January 2026 asked for total equity at transition: ₹217.02 crores, after moving ₹25 crores of redeemable preference shares out of equity into liabilities.

The trap: in May 2026, a convertible debenture still outstanding at transition had to be split into debt and equity as if Ind AS 32 had always applied, then unwound to the transition date. ICAI's answer: liability ₹97,81,845, equity component ₹11,55,860, and ₹4,37,705 debited to retained earnings. The exemption to skip the split applies only when the liability is no longer outstanding.

5. Ind AS 19: actuarial gains and losses

Ind AS 19 appeared in three papers (8, 5 and 6 marks): defined benefit plans in September 2025 and May 2026, and compensated absences, profit-sharing and a defined contribution plan in January 2026. May 2026 Q4(a) asked for three years of actuarial gains or losses and where they go.

What wins marks: one table for the obligation and one for plan assets; actual minus expected is the actuarial gain or loss. ICAI's first-year net loss: ₹86 lakhs (₹220 lakhs loss on the obligation, ₹134 lakhs gain on assets).

The trap: the question gave a 15-year average remaining life. Remeasurements go to OCI in the year they arise; nothing is spread over 15 years.

6. Ind AS 20: five grants in one question

Government grants were an 8-mark Q4(b) in both January 2026 and May 2026. May 2026 listed five grants: one with no conditions, one for research, free land, a concessional loan, and ₹20 lakhs towards a ₹90 lakhs machine.

What wins marks: for each grant, say when it hits profit and how it is shown. For the machine, either keep ₹20 lakhs as deferred income and release it over 10 years, or deduct it from cost so depreciation becomes ₹7 lakhs a year.

The trap: treating every grant alike. ICAI took the unconditional ₹40 lakhs to profit at once, spread the research grant over two years, put the free land in at its ₹15 lakhs fair value (or nominal value), and treated the below-market loan's benefit as a grant.

7. EPS: dilution from options and convertibles

Basic and diluted EPS was a 6-mark Q3(b) in May 2025 and September 2025, and an MCQ in May 2026.

What wins marks, from September 2025: profit ₹91,20,000; 5,00,000 shares; 1,40,000 options at ₹112 and 2,00,000 warrants at ₹84; average price ₹140.

• Basic EPS: ₹91,20,000 ÷ 5,00,000 = ₹18.24
• Options: 1,40,000 − (1,40,000 × 112 ÷ 140) = 28,000 free shares
• Warrants: 2,00,000 − (2,00,000 × 84 ÷ 140) = 80,000 free shares
• Diluted EPS: ₹91,20,000 ÷ 6,08,000 = ₹15

The trap: adding all 3,40,000 potential shares. Only the shares deemed issued for nothing dilute.

8. Ind AS 36: value in use and the CGU

Impairment was an 8-mark CGU question in May 2025 Q3(a) (a subsidiary with ₹13 crores of goodwill) and a 5-mark machine in September 2025 Q6(b).

What wins marks: recoverable amount is the higher of value in use and fair value less costs. In September 2025, value in use was ₹62,23,400 against fair value less costs of ₹48,50,000; on a carrying amount of ₹68,20,000 the impairment was ₹5,96,600.

The trap: where the loss goes. ICAI first set ₹3,80,000 against the machine's revaluation surplus and charged only ₹2,16,600 to profit and loss.

9. Fair value and valuation: Question 6(c)

Q6(c), 4 marks, was a valuation question in three papers: value per share by the income approach for an acquisition (May 2025), fair value per share from the market and income approaches weighted equally (January 2026), and Ind AS 113's principal market (May 2026).

The trap, from May 2026: Market C pays ₹88 (transaction costs ₹9, transport ₹6); Market D pays ₹85 (₹3 and ₹6). If C is the principal market, fair value is ₹88 − ₹6 = ₹82. If neither is, D is the most advantageous (₹76 net against ₹73), but fair value is ₹85 − ₹6 = ₹79. Transaction costs choose the market; they never come off the fair value. Transport costs do.

10. FR important topics for theory

Every paper had a 5-mark Q6(a) and a 4-mark either/or Q5(c):

• Technology: blockchain's impact on reporting (May 2025), which technology fits which task (September 2025), cloud computing (May 2026)
• Ethics: a new CFO facing channel stuffing (January 2026)
• Framework: limitations of general-purpose reporting (May 2025), enhancing qualitative characteristics (May 2026), the need for Ind AS (January 2026)

Write points with headings, tied to the case's facts.

The two amendment questions in the Nov 2026 RTP

The RTP tests two 2025 changes:

• Q12, Ind AS 1 covenants: a covenant tested after the reporting date does not make a loan current; it is disclosed instead. Only covenants due on or before the reporting date affect classification.
• Q13, Ind AS 21 lack of exchangeability: decide whether a currency is exchangeable and, if not, estimate the spot rate.

How to revise them quickly is in how to revise amendments for CA exams.

How to practise them

1. One type a day, oldest paper to newest, then the RTP question; the four-week order is in our CA Final FR preparation strategy.
2. Number your working notes so a wrong figure keeps the method marks (step marking in CA exams).
3. Time every question. A 14-mark question is worth about 25 minutes (how to attempt a CA Final paper in 3 hours); a consolidation often needs 30–35, so take the time back from short theory parts.

ICAI's papers are on our CA Final past year question papers page.

Important questions for other CA Final papers

• CA Final AFM important questions: forex hedges, option valuation, mutual fund NAV and the other AFM types ICAI repeats
• CA Final Audit important questions: SA case studies, professional ethics and CARO
• CA Final DT important questions: the computation and international tax questions ICAI repeats
• CA Final IDT important questions: GST, customs and FTP question types
• CA Final IBS important questions: the questions ICAI sets inside its case studies

Frequently asked questions

What are the FR important questions for Nov 2026?

The ten types above, plus the RTP's Ind AS 1 and Ind AS 21 amendment questions.

Which FR important topics come in every paper?

Consolidation (Q1), financial instruments (Q2(a)) and Ind AS 115 (Q5(a)), each in the same slot all four times.

Is the RTP enough for FR?

No. Use it for the amendment questions and one extra question per type.

Put the ten types into one paper

A timed paper shows which type still costs you marks. Our CA Final FR mock tests are full-syllabus papers on ICAI's latest pattern, 100 marks in 3 hours, with every amendment applicable for November 2026 tested.

You write by hand and upload one PDF; your checked copy comes back within 24 hours with ICAI-style step-wise marks and the reason for every mark cut. You can read preview pages of the first mock before you buy. For a dated plan to 2 November, see our CA Final revision planner, and for every subject, our CA test series and CA mock tests.