CPA Canada has released the Day 1 case lineup for the September 2027 Common Final Examination (CFE), and there is good news for anyone who wrote in 2026. If you wrote the June or September 2026 CFE, you will be able to write a new Day 1 version of the same case you already know. That’s a really nice move by CPA Canada, and it gives every writer in the September 2027 sitting a fair shot.

Here’s what’s being offered, who can choose what, and how we recommend you decide.

Source: CPA Canada, CPA PEP Capstone modules.

September 2027 CFE Day 1 cases

For the September 2027 CFE, you can write one of the following Day 1 cases:

• Puck Points Video Games Inc. (PPVG) v1: the new Capstone 1 case
• Karnat Bread Company Ltd. (KBC) v2: first tested as v1 on the June 2026 CFE
• Singular Textiles Corporation (STC) v2: first tested as v1 on the September 2026 CFE

And yes, we love that the new case comes with the sound of a hockey game in the background. We also got a sneak preview of the name for the September 2028 v1 case, Q&S Choco Inc., which also seems great.

As a reminder, the Day 1 case is the Capstone 1 case carried forward a few years. The users, background and much of the situational analysis stay the same, while the strategic and operational issues are new.

A quick note on dates: CPA Canada’s schedule labels the spring 2026 sitting as May 2026, but it was written June 2 to 4, so we refer to it as the June 2026 CFE. There is also no CFE in May 2027, which makes September 2027 the only sitting next year. For the full schedule of the remaining Day 1 cases, see our post What Day 1 Cases Will Be Tested in 2026, 2027 and 2028 CFEs?

Why this matters for 2026 writers

If you were unsuccessful on Day 1 in 2026, you won’t be forced to start from scratch on an unfamiliar case:

• June 2026 writers wrote Karnat Bread v1 and can write Karnat Bread v2.
• September 2026 writers wrote Singular Textiles v1 and can write Singular Textiles v2.

Both groups get the same advantage: a second attempt on a case they already know. That keeps things level for everyone writing in September 2027.

Who can choose which case?

• First-time writers must write the case linked to the Capstone 1 module they completed, provided that case is available. For first-time writers in September 2027, that’s Puck Points Video Games v1.
• Repeat writers (previously unsuccessful on the CFE) can choose any of the cases offered for the sitting.
• Candidates challenging the CFE, such as internationally trained accountants, can also choose any of the cases offered.

Which case should you choose?

If you are eligible to choose your own Day 1 case, how do you decide which to choose? We get this question a lot. We talk more about it in this article and video. The punch line is that it doesn’t really matter. But you do still need to make a decision, so let’s talk about how to decide.

If you wrote in June or September 2026

Your preference would be to write the version 2 of the same case you wrote previously. You will already be familiar with the following:

• The Capstone case facts and the company’s history
• The industry and how the business makes money
• The users and their competing preferences
• The mission, vision, values, key success factors and board objectives
• The quantitative constraints, such as covenants and financing

That familiarity saves you real time on exam day. You’ll read faster, you’ll spot what has changed, and you can spend your energy on the new issues rather than learning a new business. If you want a fresh attempt on your case, our CFE practice cases include GCPA original Day 1 mocks. The GCPA mock exams for KBC and STC are already available, and our mock exam for the PPVG case will be available closer to July 2027.

A few things to keep in mind before you commit:

• A familiar Capstone case only helps so much. The case moves forward in time, and the issues will be new. Read it fresh and build your situational analysis from what’s in front of you.
• Watch out for anchoring. Candidates sometimes force last exam’s issues onto the new case. Answer what is actually asked.
• Expect ambiguity. Regardless of how you felt writing your previous attempt, expect this one to be quite different, especially as we’ve seen CPA write more ambiguous Day 1 cases.
• This is the last sitting for both v2 cases. Based on the CPA Canada schedule, Karnat Bread and Singular Textiles are not offered after September 2027. If you need another attempt, you’d be switching cases. Puck Points, on the other hand, returns as v2 in September 2028.

If you’re challenging the CFE or don’t have a prior case

We usually recommend choosing v1, which in this case would be Puck Points Video Games. Historically there is a slightly higher pass rate for v1 writers. The difference is barely noticeable, but it’s there. V1 also gives you a safety net, since Puck Points v2 will be offered in September 2028 if you need another attempt.

The other take, which is the counter to our opinion above, is that if you choose a v2 exam, you’ll be able to make use of the Day 1 CFE v1 that has been publicly released, which gives you an extra exam to practice with. That is indeed a valid point.

This is what takes us to our overall opinion: it doesn’t really matter.

Our honest take

At the end of the day, it matters less which case you choose and more how well you prepare for Day 1.

The candidates who pass Day 1 are the ones who:

• Move efficiently through the core of the exam
• Protect time for the overall recommendation
• Understand the case well enough to apply real judgement
• Use a decision matrix to build a cohesive plan (taught in the GCPA program)
• Practice mock Day 1 cases under exam conditions, then debrief

Pick the case you’re most comfortable with, then put your energy into your Day 1 strategy.

Day 1 strategy: further reading

Whichever case you write, these GCPA articles cover the Day 1 strategy that actually moves the needle:

• CFE Day 1: How to Approach, Outline and Solve: our step-by-step approach to reading, outlining and timing the 4-hour Day 1 case
• Marking Guide of CPA Canada CFE Day 1: how Day 1 is marked holistically, and which assessment opportunities matter most
• Ultimate Guide to the CFE of CPA Canada: how Day 1 fits with Days 2 and 3, and why the CPA Way format is key
• June 2026 CFE Debrief: our take on the KBC and VTL Day 1 cases, a must-read if you’re rewriting Karnat Bread

Looking ahead to September 2028

For planning purposes, the September 2028 CFE is scheduled to offer Puck Points Video Games v2 and a new case, Q&S Choco Inc. v1.

Extra resources

We’re the Gevorg CPA Coaching Team. If you want help preparing for Day 1, including mock exam cases and Day 1 strategy coaching, check out our CFE Review Day 1 course for a comprehensive prep package, or browse our CFE practice cases and strong answers.

Frequently asked questions

What Day 1 cases are offered on the September 2027 CFE?

Three: Puck Points Video Games Inc. v1 (the new Capstone 1 case), Karnat Bread Company Ltd. v2, and Singular Textiles Corporation v2.

Can I choose which Day 1 case I write on the September 2027 CFE?

It depends on your situation. First-time writers must write the case linked to the Capstone 1 module they completed, which for September 2027 is Puck Points v1. Repeat writers and candidates challenging the CFE, such as internationally trained accountants, can choose any of the three.

I wrote the CFE in 2026. Can I write the same Day 1 case again?

Yes. June 2026 writers can write Karnat Bread v2, and September 2026 writers can write Singular Textiles v2. The users, background and much of the situational analysis carry over, but the strategic and operational issues are new.

Should I write the v1 or v2 Day 1 case?

Honestly, it matters less than how well you prepare. If you wrote in 2026, v2 of your case saves you time because you already know the business. If you’re challenging the CFE or don’t have a prior case, we usually recommend v1 (Puck Points). It has had a slightly higher pass rate, and v2 comes back in September 2028 if you need another attempt.

Is there a May 2027 CFE?

No. September 2027 is the only CFE sitting in 2027.

Will Karnat Bread or Singular Textiles be offered again after September 2027?

No. Based on CPA Canada’s schedule, September 2027 is the last sitting for both v2 cases. If you need another attempt after that, you’d be switching cases.

What Day 1 cases are planned for the September 2028 CFE?

Puck Points Video Games v2 and a new case, Q&S Choco Inc. v1.