AAOIFI CPAAGE study plan
AAOIFI CPAAGE · Give each week a clear focus.
8 weeks · About 7 hours per week
Shari'ah Standards
Map the structure of the Shari'ah Standards framework and list the standard categories that carry the most exam weight
Define core prohibitions (riba, gharar, maysir) and write a one-sentence operational test for each
Classify the main contract types (murabaha, mudaraba, musharaka, ijarah, salam, istisna, sukuk) by risk and profit-sharing profile from memory
Build a personal glossary of 40 Shari'ah terms with definitions you can restate without notes
Your checkpoint
A one-page contract-type comparison table plus a 40-term glossary, self-quizzed to 80% recall
Shari'ah Standards
Apply murabaha, ijarah, and salam rules to short scenario stems and identify the compliance defect in each
Distinguish Shari'ah-compliant profit mechanics from disguised riba in three worked examples
Explain the role and boundaries of the Shari'ah supervisory board in product approval
Draft 15 original practice questions on Shari'ah rules and answer them closed-book
Your checkpoint
A 15-question self-authored Shari'ah quiz with answer rationales, scored at 70% or better
Accounting Standards
Outline the AAOIFI financial accounting statement set and state the objective and scope of each
Trace how murabaha and ijarah transactions are recognized, measured, and derecognized under the standards
Prepare journal entries for a simple murabaha sale and an ijarah contract from a written fact pattern
Reconcile differences between conventional and Islamic presentation requirements for key line items
Your checkpoint
A worked accounting case (one murabaha, one ijarah) with full journal entries and a presentation note
Accounting Standards
Apply measurement rules for mudaraba, musharaka, and investment account holders to numeric scenarios
Compute zakat and profit-distribution figures in a two-part exercise
Identify disclosure requirements for restricted and unrestricted investment accounts
Complete a timed 25-question accounting set and log every error by cause
Your checkpoint
Timed 25-question accounting set completed with an error log; target 65% or better
Governance Standards
Describe the governance framework's scope and the responsibilities it assigns to each organ of an Islamic financial institution
Distinguish the roles of the board of directors, Shari'ah supervisory board, and internal Shari'ah review function
Explain Shari'ah compliance review, audit, and reporting lines in your own words
Analyze a short governance failure scenario and prescribe the control that was missing
Your checkpoint
A one-page governance responsibility matrix plus a 300-word scenario analysis
Governance Standards & Ethics Standards
Map the Ethics Standard's core principles to concrete conduct rules for practitioners
Apply ethical decision steps to three dilemmas involving conflicts of interest, confidentiality, and Shari'ah non-compliance pressure
State independence and objectivity requirements for Shari'ah board members and auditors
Identify the professional and organizational consequences of ethical breaches
Your checkpoint
Three written dilemma responses using a consistent decision framework, each under 250 words
Ethics Standards & Shari'ah Standards & Accounting Standards
Revisit the two weakest topics from weeks 1-6 and close each gap with a written correction summary
Integrate ethics into Shari'ah and accounting scenarios by answering 20 mixed-domain questions
Explain how ethical obligations shape reporting judgments in at least two accounting contexts
Refine your glossary and error log into a single condensed review sheet
Your checkpoint
A two-page condensed review sheet plus 20 mixed-domain questions answered at 70% or better
Shari'ah Standards & Accounting Standards & Governance Standards & Ethics Standards
Take two full-length timed mock exams under exam conditions and score each by domain
Rank domains by score gap and re-drill only the bottom two
Recite key definitions and rules aloud from the condensed review sheet until fluent
Finalize an exam-day time-allocation and question-triage strategy
Your checkpoint
Two completed mock exams with a domain scorecard showing improvement on the weakest domain
Milestones
Week 2: Shari'ah self-quiz scored at 70% or better and glossary recalled at 80%
Week 4: Timed accounting set completed at 65% or better with error log reviewed
Week 6: Governance matrix and all three ethics dilemma responses written and self-graded against a rubric
Week 8: Both mock exams completed; weakest-domain score improved versus the first mock