Free Practice Questions for Ukraine Certified Accountant

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Sample Ukraine Certified Accountant Practice Questions

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

1Under Law of Ukraine No. 996-XIV 'On Accounting and Financial Reporting in Ukraine', what is the primary objective of maintaining accounting records and compiling financial statements?

A.To provide users with complete, truthful and unbiased information about an enterprise's financial position and performance for decision-making

B.To determine taxable profit using tax rules as the sole basis for measuring every financial statement item

C.To measure only cash receipts and payments, excluding unpaid receivables and liabilities

D.To forecast next year's sales and cash requirements rather than report financial position and performance

Explanation: Article 3 of Law No. 996-XIV states the objective in terms of complete, truthful and unbiased information about financial position and performance for users' decisions. It is broader than tax calculation, cash recording or internal budgeting alone.

2For an ordinary primary document recording delivery of goods under Law No. 996-XIV, which item is not a mandatory document requisite? Assume that no special statutory documentation exception applies.

A.Title of the document and date of compilation

B.Official seal or stamp of both transacting legal entities

C.Content, volume, and unit of measurement of the business transaction

D.Personal signature or other data identifying the persons who participated in the business transaction

Explanation: Under Article 9 of Law No. 996-XIV and Order No. 88, mandatory requisites include document title, date, entity name, transaction content and volume with measurement units, and personal signatures/identifying data. Ukrainian legislation abolished mandatory corporate seals, making seals an optional attribute rather than a required statutory requisite.

3Under National Accounting Standard NP(S)BO 7 'Fixed Assets', which condition is required for an enterprise to recognize a tangible item as a fixed asset (основні засоби)?

A.The asset must be fully paid for in cash prior to initial operational commissioning

B.The asset must have an acquisition cost exceeding 50,000 UAH regardless of its useful economic life

C.The entity expects to hold and use the asset for more than one year (or one operating cycle if longer than a year) and probable future economic benefits will flow to the entity

D.The asset must be certified by a state technical inspection authority within 30 days of acquisition

Explanation: NP(S)BO 7 defines fixed assets as tangible assets held for use in production, supply of goods/services, rental, or administrative purposes with an expected useful life exceeding one year (or one normal operating cycle), provided that future economic benefits are probable and the cost can be reliably measured.

4Under the Ukrainian Chart of Accounts for enterprises and organizations (План рахунків), which class accounts for inventories such as materials, finished goods and goods for resale?

A.Class 1 (Non-current assets)

B.Class 9 (Expenses of activities)

C.Class 4 (Equity and provisions for liabilities)

D.Class 2 (Inventories)

Explanation: In Ukraine's statutory Plan of Accounts, Class 2 is designated for Inventories (Запаси), including raw materials (Account 20), low-value items (Account 22), work in progress (Account 23), finished goods (Account 26), and goods for resale (Account 28).

5An enterprise acquired production equipment for 240,000 UAH. Management determined an estimated useful life of 5 years and a residual (liquidation) value of 24,000 UAH. Using the straight-line method under NP(S)BO 7, what is the monthly depreciation expense?

A.4,000 UAH

B.3,600 UAH

C.4,320 UAH

D.3,200 UAH

Explanation: Under the straight-line method in NP(S)BO 7, depreciable cost is initial cost minus residual value: 240,000 UAH - 24,000 UAH = 216,000 UAH. Annual depreciation is 216,000 UAH / 5 years = 43,200 UAH. Monthly depreciation is 43,200 UAH / 12 months = 3,600 UAH.

6An enterprise acquired a specialized machine for 100,000 UAH with an estimated useful life of 4 years and an estimated residual value of 10,000 UAH. Under NP(S)BO 7, the annual depreciation rate under the diminishing balance method (метод зменшення залишкової вартості) is calculated as r = 1 - (Residual / Cost)^(1/n). What is the depreciation expense for the first year if the calculated annual rate is approximately 43.77%?

A.39,393 UAH

B.43,770 UAH

C.50,000 UAH

D.22,500 UAH

Explanation: Under the stated diminishing-balance formula, the annual rate of 43.77% applies to the beginning carrying amount. For the first full year this is the initial cost of 100,000 UAH, so depreciation is 100,000 * 43.77% = 43,770 UAH.

7A company acquires a delivery vehicle for 150,000 UAH with a 4-year useful life and an estimated residual value of 15,000 UAH. Using the cumulative method (кумулятивний метод / sum-of-the-years'-digits) under NP(S)BO 7, what is the depreciation charge for the first year of operation?

A.40,500 UAH

B.60,000 UAH

C.54,000 UAH

D.33,750 UAH

Explanation: Under the cumulative method in NP(S)BO 7, the depreciable base is 150,000 UAH - 15,000 UAH = 135,000 UAH. The sum of digits for 4 years is 1 + 2 + 3 + 4 = 10. The cumulative coefficient for Year 1 is 4/10. Depreciation for Year 1 is 135,000 UAH * (4/10) = 54,000 UAH.

8A manufacturer purchases an industrial bottling line for 600,000 UAH, estimating a liquidation value of 50,000 UAH and total lifetime production capacity of 220,000 units. During May, the machine produced 8,400 units. Using the production method (виробничий метод) under NP(S)BO 7, what is the depreciation expense for May?

A.19,250 UAH

B.22,909 UAH

C.25,200 UAH

D.21,000 UAH

Explanation: Under the production method of NP(S)BO 7, the production depreciation rate per unit is (Initial Cost - Residual Value) / Total Expected Units = (600,000 - 50,000) / 220,000 = 550,000 / 220,000 = 2.50 UAH per unit. For May output of 8,400 units, depreciation expense is 8,400 * 2.50 UAH = 21,000 UAH.

9Under NP(S)BO 7, how should an enterprise account for subsequent expenditures on fixed assets that result in an increase in future economic benefits initially expected from their use (e.g., modernization or reconstruction)?

A.Capitalize the expenditures by increasing the initial carrying cost of the fixed asset

B.Recognize the full expenditure as an operating expense in the period incurred (Account 92 or 93)

C.Record the expenditure directly as a reduction in retained earnings (Account 44)

D.Defer the expenditure as prepaid expenses (Account 39) and amortize it over exactly 12 calendar months

Explanation: Under NP(S)BO 7, improvement expenditure that increases the future economic benefits initially expected from an asset is added to its cost. Routine maintenance that merely keeps the asset in its working condition is expensed instead.

10An enterprise revalues a building with an initial cost of 200,000 UAH and accumulated depreciation of 80,000 UAH. Its fair value is 150,000 UAH. There are no previous revaluation decreases or impairment losses to reverse. Ignoring deferred tax, what revaluation increase is credited to equity under NP(S)BO 7?

A.30,000 UAH

B.50,000 UAH

C.70,000 UAH

D.20,000 UAH

Explanation: Carrying amount before revaluation is 200,000 UAH - 80,000 UAH = 120,000 UAH. Revaluation index is Fair Value / Carrying Amount = 150,000 / 120,000 = 1.25. Revalued initial cost is 200,000 * 1.25 = 250,000 UAH, and revalued depreciation is 80,000 * 1.25 = 100,000 UAH. The revaluation surplus is 150,000 - 120,000 = 30,000 UAH, credited to Account 411 'Revaluation of fixed assets'.

About the Ukraine Certified Accountant Exam

Free independent practice by OpenExamPrep for Ukraine's Бухгалтер дипломований qualification. This English-language MCQ study adaptation covers Ukrainian national accounting standards (NP(S)BO), IFRS, Ukrainian Tax Code provisions, cost accounting, financial analysis, and ethics. It is not an official translation, format simulation, or substitute for hands-on accounting practice and practical case solutions.

Exam sponsor: Qualification centre of ТОВ «Аудит Консалтинг Центр» (Audit Consulting Center LLC), accredited by NQA under Certificate No. 787. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

The centre's procedure requires an admission interview about acquired competencies and occupational safety. Its full assessment has a two-hour theory stage and three-hour practical stage, including primary documents, accounting records, management accounting, financial/tax reporting and analysis. Prior evidence may affect the individual assessment plan. No take-home assignment is specified in the reviewed documents. Permitted assessment/response languages remain unconfirmed.

Time Limit

5 hours for the published full assessment (2 theory + 3 practical); admission interview time not specified

Passing Score

60 out of 100 marks (60%)

Exam / Certification Fees

Numeric fee not published in the reviewed documents; the centre sets and communicates its assessment price before the service

Exam sponsor website

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

Official sources

Professional Standard «Бухгалтер дипломований» (ОСНАД decision No. 2.2/9/85) · Source checked 2026-10-24Approved 15 July 2025; defines NQF Level 7 competencies, work functions, and qualification requirements.
Audit Consulting Center qualification assessment structure · Source checked 2026-10-24Specifies 70 knowledge items, 6 situational tasks, 100 total marks, and the 60-mark pass mark.
Procedure for awarding and confirming the professional qualification · Source checked 2026-10-24Pages 2–3 require an admission interview; page 6 gives two hours theory and three hours practical. Page 5 permits prior-evidence recognition and contains older eligibility terms that differ from the June sheet. No complete assessment-language policy was established.
Admission requirements for professional certification (June 2026) · Source checked 2026-10-24Specifies education and accounting experience pathways for candidate admission.
NQA qualification centers register · Source checked 2026-10-24Lists the centre for Бухгалтер дипломований, with accreditation expiry on 6 April 2031.
Centre's 2026 assessment schedule and documents · Source checked 2026-10-24Lists 2026 sittings through December and links the qualification documents.
Centre's preparation-topic list · Source checked 2026-10-24Official preparation topics; no topic-percentage blueprint was found. Practice percentages are OpenExamPrep's allocation.
Centre's public services contract · Source checked 2026-10-24Section 5.1 says the provider determines and communicates the price before the service; no numeric assessment fee is stated.
ОСНАД clarification on accountant certification · Source checked 2026-10-24The qualifications register does not introduce universal mandatory accountant certification.
IFRS Foundation: IFRS 16 Leases · Source checked 2026-10-24Source for the IFRS lessee recognition model; do not conflate it with NP(S)BO 14.
State Tax Service: interest deductibility under Article 140.2 · Source checked 2026-10-242026 explanation of qualifying non-resident debt, the 3.5 debt/equity trigger and the 30% statutory interest limit.
State Tax Service: military levy in 2026 · Source checked 2026-10-24General 5% levy and exceptions; salary calculation questions state their applicable rates.
IFRS Foundation: IAS 10 Events after the Reporting Period · Source checked 2026-10-24Adjusting versus non-adjusting events and required treatment.
IESBA: International Code of Ethics for Professional Accountants · Source checked 2026-10-24Fundamental principles and self-interest, self-review, advocacy, familiarity and intimidation threats.

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.

30% of this practice bank; no official topic percentage published

Accounting organization and financial accounting

Accounting policy, chart of accounts, primary documentation, asset, liability, equity, revenue, and expense accounting under NP(S)BO and IFRS; 30 practice questions.

25% of this practice bank; no official topic percentage published

Tax accounting and tax reporting

Corporate income tax adjustments, VAT mechanisms and electronic administration, payroll taxation, single tax, and tax dispute principles; 25 practice questions.

16% of this practice bank; no official topic percentage published

Financial reporting and closing procedures

Balance Sheet, Income Statement, Statement of Cash Flows, Statement of Changes in Equity, inventory reconciliations, liability derecognition and IFRS disclosures; 16 practice questions.

15% of this practice bank; no official topic percentage published

Management accounting and budgeting

Cost classification, cost allocation, CVP analysis, operational budgeting, and variance analysis; 15 practice questions.

14% of this practice bank; no official topic percentage published

Financial analysis, internal control, and professional ethics

Liquidity, solvency, and profitability ratios, internal controls, asset safeguarding, anti-money laundering (AML), and ethical codes; 14 practice questions.

Preparing for the Ukraine Certified Accountant Exam

What You Need to Know

Passing score: 60 out of 100 marks (60%)
Assessment: The centre's procedure requires an admission interview about acquired competencies and occupational safety. Its full assessment has a two-hour theory stage and three-hour practical stage, including primary documents, accounting records, management accounting, financial/tax reporting and analysis. Prior evidence may affect the individual assessment plan. No take-home assignment is specified in the reviewed documents. Permitted assessment/response languages remain unconfirmed.
Time limit: 5 hours for the published full assessment (2 theory + 3 practical); admission interview time not specified
Exam / certification fees: Numeric fee not published in the reviewed documents; the centre sets and communicates its assessment price before the service Official sources

Using Our Practice Resources

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Ukraine Certified Accountant: Suggested Study Strategy

1Master the differences between Ukrainian National Accounting Standards (NP(S)BO) and International Financial Reporting Standards (IFRS), especially regarding asset impairment, leases, and revenue recognition.

2Review Tax Code of Ukraine (ПКУ) provisions on corporate income tax differences (Article 138 depreciation differences, Article 139 reserve differences, and Article 140 thin capitalization rules).

3Practice working with VAT mechanics, including tax invoice registration in the Unified Register (ЄРПН), electronic VAT administration (СЕА ПДВ), and compensating liabilities under Article 198.5 and Article 199.

4Solve quantitative problems in cost-volume-profit (CVP) analysis, flexible budgeting, standard cost variance analysis, and cash flow calculations under both direct and indirect methods.

5Understand the ethical framework of the Code of Ethics for Professional Accountants, including fundamental principles, threat evaluation, and anti-money laundering (AML) monitoring requirements under Law No. 361-IX.

Frequently Asked Questions

What is the «Бухгалтер дипломований» qualification?

It is a Level 7 professional qualification on Ukraine's National Qualifications Framework (NQF / НРК), developed under a professional standard approved on 15 July 2025. It certifies comprehensive professional competencies in accounting organization, financial reporting under NP(S)BO and IFRS, taxation, cost management, and financial analysis.

Is certification mandatory for all accountants in Ukraine?

No. Universal statutory certification is not mandatory for all commercial accountants. The qualification is voluntary and confers recognized professional qualification status through accredited qualification centres under the National Qualifications Agency (NQA / НАК).

Who administers the examination?

Accredited qualification centres listed in the NQA register administer the assessment. For example, LLC 'Audit Consulting Center' operates under NQA accreditation certificate No. 787 issued on 6 April 2026.

What is the official examination format and passing score?

At Audit Consulting Center, the published full assessment has 70 knowledge items (30 single-answer, 20 multiple-answer, 20 short-answer) in two hours and six practical tasks in three hours. The pass threshold is 60/100. There is also an admission interview, and the procedure permits prior-evidence recognition when setting an individual's assessment plan.

What are the eligibility requirements to sit for the assessment?

The June 2026 sheet lists three routes: Бухгалтер qualification plus five years of accounting experience; a Bachelor's degree in Business, Administration and Law plus two years of accounting employment or internship; or a Master's degree in that field. The older procedure also requires experience for Master's applicants, so confirm how the centre applies its current admission requirements.

What is the examination fee?

A numeric assessment fee was not found in the reviewed provider documents. Section 5.1 of the centre's public contract says it determines and communicates the price before providing the service. Ask the centre for its current assessment quote.

Which languages does the official assessment permit?

The reviewed provider documents do not expressly confirm the permitted delivery and response languages. Their Ukrainian wording alone does not establish the full language policy. Confirm the available language with the centre; this page provides an independent English-language MCQ study adaptation, not an official translation or language-environment simulation.

How should learners use this practice question bank?

This resource provides an independent English-language MCQ study adaptation for accounting concepts, standards, tax rules and calculations. It is not an official translation, format simulation or substitute for the admission interview and practical accounting tasks. Work full practical cases and confirm the centre's assessment-language requirements.