ICAB CL Accounting study plan

Map the full Financial Accounting syllabus into a one-page topic checklist and rate your confidence on each item from 1 to 5.

Prepare journal entries, ledger postings and a trial balance for a full accounting cycle scenario without referring to notes.

Apply accrual, prepayment, depreciation and bad-debt adjustments and explain in writing why each adjustment affects profit and the statement of financial position.

Solve 15 adjusting-entry and error-correction items under a 45-minute timer and log every mistake by cause.

Prepare a statement of financial position and statement of profit or loss for a sole trader and a limited company from a trial balance.

Compute and interpret at least six ratios covering liquidity, profitability and gearing, and write two sentences of interpretation for each.

Reconcile a bank statement and a control account, identifying and classifying every difference.

Draft the disclosure notes for property, plant and equipment showing cost, additions, disposals and depreciation.

Classify costs into direct, indirect, fixed, variable and semi-variable categories for three different business scenarios.

Prepare a cost of production and cost of goods sold statement from raw material, labour and overhead data.

Apportion and reapportion overheads using the repeated distribution and simultaneous equation methods, then reconcile the two results.

Calculate and explain over- and under-absorption of overheads with a numerical example.

Prepare a marginal costing statement and reconcile the profit difference against an absorption costing statement for the same data.

Compute break-even point, margin of safety and target profit, and explain the assumptions behind cost-volume-profit analysis.

Apply process costing with normal loss, abnormal loss and work-in-progress equivalent units.

Evaluate a make-or-buy or accept-or-reject decision using relevant costing and justify the recommendation in writing.

Outline the stages of an audit from engagement acceptance to final review, stating the objective and key documentation of each stage.

Assess audit risk for a given entity by identifying inherent, control and detection risk factors and linking each to a planned response.

Design substantive procedures for revenue, receivables and inventory that respond to identified risks.

Distinguish the types of audit opinion and select the correct opinion for four short scenarios with justification.

Compute income tax liability for an individual and a company using current rates and allowable deductions, showing every step.

Explain the administrative obligations of a company, including filing deadlines, registers and statutory meetings.

Identify the duties and potential liabilities of directors in three short governance scenarios.

Summarise the key compliance requirements of at least four corporate laws on the syllabus in a comparison table.

Apply a recognised ethical decision-making framework to three dilemmas and state the correct course of action with reasoning.

Explain the roles of internal control, segregation of duties and the control environment in preventing fraud.

Describe how an accounting information system processes a transaction from source document to general ledger, and name two controls at each stage.

Compare management styles and motivation theories and apply one to a workplace performance scenario.

Complete two full-length timed mock exams under exam conditions and record the score per domain.

Re-teach your three weakest topics from memory in writing, then verify against source material.

Consolidate a one-page formula and rule sheet per domain for final revision.

Review the error logs from weeks 1 to 7 and confirm that every recurring error has been resolved.