AAOIFI CPFAS study plan

Map the structure of the AAOIFI FAS series and classify each standard by the financial-statement element it primarily governs

Explain the objective, scope, and key definitions of the core presentation and disclosure standards in your own words

Define the recognition and measurement principles for the main asset categories covered by the FAS framework

Build a one-page decision tree linking a transaction type to the applicable FAS

Apply the profit-and-loss-sharing and sale-based financing measurement rules to worked numerical examples

Contrast the accounting treatment of the major Islamic financing contracts and state which FAS governs each

Trace how Shari'ah contract conditions translate into journal entries and disclosure notes

Identify and correct at least five common measurement errors in sample scenarios

Compute zakat, investment-account, and consolidation-related figures under the relevant FAS using two full scenarios

Draft the required disclosure notes for an Islamic financial institution's annual report excerpt

Reconcile differences between the FAS treatment and conventional IFRS treatment for the same transaction

Summarize the reporting requirements for specialized institutions covered by the FAS

Outline the governance architecture of an Islamic financial institution and assign each organ its duties

Explain the composition, independence, and reporting lines of the Shari'ah supervisory function

Describe the internal Shari'ah review and audit workflow from planning to reporting

Differentiate the roles of the audit committee, governance committee, and risk function

Apply the governance standards to a case by identifying at least eight compliance gaps and prescribing remedies

State the core ethical commitments of the profession and match each to a concrete reporting or disclosure behavior

Analyze ethical dilemmas involving confidentiality, conflicts of interest, and Shari'ah non-compliance, and justify a recommended course of action

Draft the disclosure content a governance report must contain

Distinguish permissible from impermissible conduct across the main ethics-standard categories

Construct a decision framework for escalating an ethical concern through the proper channels

Evaluate how independence and objectivity requirements constrain an auditor or Shari'ah reviewer

Prepare responses to short scenario prompts under time pressure

Summarize the Shari'ah rulings that determine recognition and measurement for each major contract type

Resolve conflicts between a Shari'ah ruling and an accounting treatment by explaining the reconciliation

Explain the Shari'ah basis for disclosure requirements affecting profit distribution and prohibited income

Link each Shari'ah standard to the FAS that operationalizes it

Complete two full-length timed mock exams and record a per-domain accuracy score

Re-drill every missed item until the underlying principle is explained without notes

Consolidate weak areas into a one-page rapid-review sheet per domain

Finalize an exam-day time-allocation strategy by question type