(Posted October 2026)
If you’re gearing up for the September 2027 CPA Common Final Examination (CFE) as an experienced writer, you already know the drill: immense pressure, and a Day 1 case that sets the tone for the rest of the exam. That holds true whether you’re rewriting all three days or you’ve already passed Day 2 and/or Day 3 and are only rewriting Day 1. Either way, what you might not know yet is that you actually have a decision to make before you even open a simulation – which Day 1 case you’ll write.
For the September 2027 CFE, experienced writers have three options for Day 1:
- Karnat Bread Company (KBC) – V2 of the January 2026 Capstone 1case
- Singular Textiles (STC) – V2 of the May 2026 Capstone 1 case
- Puck Points Video Games – V1 of the May 2027 Capstone 1 case
On the surface, this looks like a simple preference question. In practice, it has real implications for your study plan, your budget, and most importantly your comfort level walking into the exam.
Our Recommendation – Start With the Case You Already Wrote
If you sat the CFE previously and you wrote Version 1 of KBC or STC, our first recommendation is straightforward: stick with the same case and write Version 2.
This isn’t just because it’s the easiest recommendation – there are three concrete reasons why this is usually the smart move.
Familiarity is a real advantage. You’ve already lived inside this case’s industry, its key players, its financial statements, and its recurring issues. You know how the business operates, who the stakeholders are, and what the conflicting objectives tend to be. That familiarity doesn’t guarantee a pass, but it does mean less time spent on basic orientation and more time spent on refining your quantitative and qualitative analysis and overall recommendations, which are usually the actual reasons candidates come up short on Day 1.
There’s no reason to assume Version 2 (V2) is harder than Version 1 (V1) you already attempted. V2 is not designed to be a harder scenario than V1, just different. In fact, the Board of Examiners ensures that Version 2 is equated with Version 1. Betting on a new, untested Capstone 1 case being “safer” than a case you’ve already got real experience with doesn’t have much evidence behind it.
You already own the resources. If you wrote KBC or STC previously, you likely already purchased or were issued the relevant CPA Capstone 2 materials for that case. Sticking with the same case means you don’t need to spend more money to obtain the same Capstone 2 materials for a new case.
You’ll have an extra practice case available. Since V1 has been written and will be publicly available once the CFE Reports are released, you benefit from having that prior-year case available as an additional, realistic practice resource.
What If Your Original Capstone 1 Case Isn’t Available?
Choose KBC or STC over the new Capstone 1 case. Why? Because both KBC and STC now come with a built-in practice advantage: an extra year of released, real CFE case material to write, mark and debrief. Since these cases have already been tested on the CFE as V1 and will be publicly available, you benefit from having that prior year, actual CFE case available. That’s essentially a free chance to write a real CFE case under exam-like conditions, something Puck Points Video Games, the new May 2027 Capstone 1 case, simply cannot offer because it has not yet been tested on the CFE.
If you are re-writing Day 1 of the CFE and are looking for the Capstone 2 Day 1 practice cases (Module Workshop, Week 3, and Week 6) for additional Day 1 practice as part of your study plan, you can purchase just the Capstone 2 materials separately (instead of re-taking the entire module). Email your provincial CPA institute and request to purchase the Capstone 2 review materials. This is required regardless of which of the three options you pick because your original Capstone 1 case is no longer available, so it shouldn’t factor into the decision itself, but it’s worth budgeting for early rather than scrambling close to the exam.
The Bottom Line
- Wrote KBC or STC before? Stay put. Familiarity, no evidence of a harder Version 2, free access to related Capstone 2 practice material, and the extra prior CFE practice case make this the lowest-risk path.
- Capstone 1 case no longer available? Pick KBC or STC over the new Capstone 1 case, purely because you gain an extra practice case that represents how Day 1 is tested on the CFE.
Choosing your Day 1 case isn’t about gaming the system to pick the ‘easiest’ option. It’s about stacking the odds in your favour by maximizing familiarity and practice opportunities. Get this decision right early, and you’ll free up your energy for what actually matters: sharpening your issue identification and critical reading skills, practicing your writing efficiency, refining your quantitative and qualitative analysis, focusing on your overall recommendations, and walking into September 2027 with a clear head and a solid plan.