CA ANZ Core 1 study plan

Map the financial-reporting framework: list the qualitative characteristics of useful information and explain how each constrains measurement choices

Apply double-entry mechanics to record 15 representative transactions and produce a trial balance that balances without plugging

Prepare an accrual-to-cash reconciliation and explain two adjustments that differ between accrual profit and operating cash flow

Draft a one-page summary of the elements of financial statements and the recognition criteria for each

Construct an income statement, balance sheet and statement of cash flows from a single trial balance within a 45-minute timed attempt

Compute and interpret at least six ratios spanning profitability, liquidity and gearing, and state one limitation of each

Record depreciation, inventory write-down and doubtful-debt adjustments and trace their effect through all three statements

Explain the difference between a principle-based and a rule-based reporting regime in your own words

Classify ten listed costs as fixed, variable or mixed and justify each classification with a stated cost driver

Prepare a manufacturing statement that separates prime cost from conversion cost and reconciles to cost of goods sold

Apply job and process costing to two short scenarios and explain when each method is appropriate

Calculate and interpret a break-even point, margin of safety and degree of operating leverage for one scenario

Build a static budget and a flexible budget for the same period and isolate the volume effect from the spending effect

Compute direct-material and direct-labour price and efficiency variances and label each as favourable or unfavourable with a reason

Calculate net present value, internal rate of return and payback for two competing projects and recommend one with justification

Explain why a positive net present value project may still be rejected on qualitative grounds

Compute the weighted average cost of capital for a scenario and explain how a change in gearing moves it

Distinguish systematic from unsystematic risk and explain diversification using a worked two-asset example

Describe the role of an accounting information system in the transaction cycle from source document to general ledger

Identify four general controls and four application controls in a described system and state the risk each mitigates

Explain data integrity, segregation of duties and access control as they apply to a computerised ledger

Trace a transaction end to end through a described system and identify three points where error or fraud could enter

Distinguish the objectives of an external audit from those of an internal audit function in a short written comparison

Apply the audit risk model to a scenario by identifying inherent, control and detection risk factors

Explain the purpose of an audit opinion and identify the circumstances that lead to a modified opinion

Design a five-step substantive test for a receivables balance, stating the assertion each step addresses

Compute taxable income from accounting profit by adjusting for at least five common differences and explain each

Distinguish assessable income from exempt income and capital from revenue in three short examples

Explain the core duties of a company director and apply them to two short fact patterns

Apply a professional code of ethics to a conflict-of-interest scenario and justify the recommended course of action

Identify the elements required to form a valid contract and apply them to one disputed scenario

Complete two full-length timed practice papers under exam conditions and log every error by domain

Re-study the two domains with the lowest practice accuracy until you can explain the underlying rule unaided

Practise allocating case-study reading time and structuring answers to match the marks available

Summarise each domain onto a single revision sheet of no more than one page