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Sample IPB Chief Accountant Practice Questions

Try these sample questions to review concepts for the IPB Chief Accountant exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under ФСБУ 6/2020 'Fixed Assets', how is the cost threshold for classifying items as fixed assets established by a commercial organization?

A.The organization establishes the cost limit independently in its accounting policy, considering materiality, with low-value items expensed as incurred.

B.The organization must strictly apply the statutory threshold of 100,000 RUB prescribed by the Tax Code of the Russian Federation.

C.The threshold is fixed uniformly by the Ministry of Finance at 40,000 RUB for all commercial enterprises.

D.The organization cannot set any cost threshold, as all tangible assets with a useful life exceeding 12 months must be capitalized as fixed assets.

Explanation: Under paragraph 5 of ФСБУ 6/2020, an organization has the right to decide independently whether to set a value limit for fixed assets, taking into account the criteria of materiality of information. Assets whose value is below the established limit are recognized as expenses in the period in which the capital investments in them were completed.

2Which amount remains to be depreciated over the remaining useful life of a fixed asset under ФСБУ 6/2020, assuming no impairment or subsequent additions?

A.The initial cost without deducting any liquidation or residual value

B.The initial or revalued cost minus accumulated depreciation and minus the estimated liquidation value

C.The current market replacement value minus estimated selling commissions

D.The tax base of the asset determined under Chapter 25 of the Russian Tax Code

Explanation: The remaining depreciable amount is the current carrying amount less liquidation value. With no impairment, carrying amount is initial or revalued cost less accumulated depreciation. Do not confuse this remaining amount with the asset's original total depreciable amount, which does not deduct depreciation already charged.

3An organization acquired manufacturing equipment for 1,200,000 RUB (excluding VAT). The expected useful life is 5 years, depreciation is calculated using the straight-line method, and the estimated liquidation value at the end of year 5 is determined to be 200,000 RUB. What is the annual depreciation charge under ФСБУ 6/2020?

A.160,000 RUB

B.240,000 RUB

C.200,000 RUB

D.280,000 RUB

Explanation: Under ФСБУ 6/2020, straight-line depreciation is calculated on the depreciable amount, which is initial cost minus liquidation value: (1,200,000 RUB - 200,000 RUB) = 1,000,000 RUB. Dividing this by the 5-year useful life yields an annual depreciation charge of 200,000 RUB.

4When a commercial organization applies the revaluation model under ФСБУ 6/2020, how is an initial upward revaluation (surplus) of a fixed asset recognized in the financial statements?

A.Deducted directly from retained earnings on Account 84 to preserve statutory capital reserves

B.Credited immediately to current period other income in the Statement of Financial Performance (Account 91)

C.Recognized as deferred revenue under Account 98 and amortized over the remaining useful life

D.Credited to other comprehensive equity (Account 83 'Additional Capital') without affecting current profit or loss

Explanation: An upward FSBU 6/2020 revaluation ordinarily increases the revaluation component of equity through Account 83. A reversal of a previous decrease charged to profit or loss is recognized in profit or loss to that extent. Track the history of the same asset rather than offsetting unrelated assets' surpluses and deficits.

5Under ФСБУ 26/2020 'Capital Investments', which of the following costs must NOT be capitalized into the cost of capital investments?

A.General management and administrative overhead expenses not directly related to asset acquisition or construction

B.Amounts paid to contractors for installation, assembly, and testing of equipment

C.Direct transportation, insurance, and delivery costs incurred prior to putting the asset into service

D.Borrowing costs directly attributable to the acquisition or construction of a qualifying asset

Explanation: FSBU 26/2020 excludes general management costs unless directly related to the capital investment. Qualifying acquisition, construction and preparation costs are assessed separately. A general overhead allocation does not make unrelated administrative costs directly attributable.

6How are costs incurred during the research phase of an internal research and development project accounted for under ФСБУ 26/2020?

A.Capitalized as capital investments on Account 08 until commercial feasibility is determined

B.Expensed in profit or loss in the period incurred, as research expenditures can never be capitalized

C.Deferred on Account 97 as deferred expenses and amortized over a standard 5-year period

D.Recognized in equity as a reduction of additional capital under Account 83

Explanation: Research-stage expenditure is expensed under FSBU 26/2020's intangible-investment rules. Development expenditure requires a separate assessment of the specified recognition conditions. A later successful project does not automatically turn earlier expensed research into an asset.

7Under ФСБУ 25/2018 'Lease Accounting', what balance sheet items must a lessee recognize at the commencement date of a lease?

A.The full legal title of the leased equipment as a standard fixed asset on Account 01

B.Only future lease rental commitments as off-balance sheet contingent obligations

C.A Right-of-Use Asset (ППА) and a Lease Liability (ОА)

D.A prepaid expense on Account 97 offset against trade payables on Account 60

Explanation: The general FSBU 25/2018 lessee model recognizes a right-of-use asset and lease liability at commencement. The asset represents use rights rather than legal ownership of the underlying property. Applicable exemptions must be considered separately.

8How is the discount rate determined by a lessee when calculating the present value of lease payments under ФСБУ 25/2018?

A.The average return on equity of the commercial organization for the preceding calendar year.

B.The statutory refinancing rate (key rate) set by the Central Bank of Russia without modification.

C.A fixed rate of 10% per annum established by the Federal Tax Service for leasing transactions.

D.The interest rate implicit in the lease; if that cannot be readily determined, the lessee's incremental borrowing rate is used.

Explanation: Paragraph 15 of ФСБУ 25/2018 states that lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, the lessee uses its incremental borrowing rate (the rate at which it could borrow funds to acquire a similar asset over a similar term).

9A three-year lease requires 500,000 RUB at each year end. The implicit rate cannot be determined, so the lessee uses its 10% incremental borrowing rate. Using the supplied three-period annuity factor of 2.48685, what is the initial FSBU 25/2018 lease liability?

A.1,243,425 RUB

B.1,500,000 RUB

C.1,363,636 RUB

D.1,150,000 RUB

Explanation: Using the supplied annuity factor, the liability is 500,000 × 2.48685 = 1,243,425 RUB. Discounting reflects the time value of the three year-end payments. The undiscounted 1,500,000 RUB total therefore overstates the initial liability.

10A lessee uses Account 76 for lease liabilities. No qualifying investment asset requires interest capitalization. Under FSBU 25/2018, which entry accrues periodic interest on the lease liability?

A.Debit Account 01 'Fixed Assets' and Credit Account 76 'Lease Liabilities'

B.Debit Account 91-2 'Other Expenses' (interest expense) and Credit Account 76 'Lease Liabilities'

C.Debit Account 76 'Lease Liabilities' and Credit Account 51 'Settlement Account'

D.Debit Account 20 'Main Production' and Credit Account 02 'Depreciation of Fixed Assets'

Explanation: Under paragraph 18 of ФСБУ 25/2018, the carrying amount of the lease liability increases by accrued interest using the effective interest rate, recognized as interest expense in profit or loss (Debit 91-2, Credit 76 subaccount 'Lease Liabilities'). Actual rental payments then reduce the liability (Debit 76, Credit 51).

About the IPB Chief Accountant Exam

Independent English-language MCQ study adaptation for Главный бухгалтер коммерческой организации, qualification level 6. It is not an official translation or an official-format simulation and does not replace preparing financial and tax reports. A formal assessment-language rule was not verified; confirm permitted languages with IPB Russia.

Exam sponsor: Institute of Professional Accountants and Auditors of Russia (ИПБ России). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

Regular route: 24 questions, 90 minutes, pass 17; then one financial-and-tax-reporting task, 90 minutes, pass 17 of 24 points. The 3 September–4 November 2026 campaign uses one practical task, 90 minutes, pass 17 points. Member and exemption routes differ. No separate oral defense is specified.

Time Limit

Regular route: 90 + 90 minutes; campaign: 90 minutes

Passing Score

Regular route: 17/24 in each component; campaign task: 17 points

Exam / Certification Fees

No single all-inclusive fee verified; ask IPB Russia for the applicable assessment and membership charges separately from tuition.

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Official sources

IPB Level 6 chief accountant scope and eligibility · Source checked 2026-10-11
IPB assessment structure · Source checked 2026-10-11
IPB merged assessment tables · Source checked 2026-10-11
IPB one-step campaign · Source checked 2026-10-11
IPB 2026 programme update · Source checked 2026-10-11
IPB current accounting-method guidance · Source checked 2026-10-11
FNS 2026 tax changes · Source checked 2026-10-11
FNS statutory Tax Code service · Source checked 2026-10-11
IFRS Foundation standards · Source checked 2026-10-11
IPB professional ethics code, May 2025 edition · Source checked 2026-10-11
IPB FSBU capital-investment and fixed-asset guidance · Source checked 2026-10-11
FNS Article 54.1 practical guidance · Source checked 2026-10-11

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.