CA ANZ Core 5 study guide
CA ANZ Core 5 · Work through your exam, one topic at a time.
CA ANZ Core 5 is a capstone-style unit in the Chartered Accountants Australia and New Zealand program, sitting at the point where technical knowledge is expected to be integrated rather than recalled in isolation. It suits candidates who have completed the technical modules and are moving toward practical, judgement-based work: analysing a business situation, weighing competing considerations, and communicating a defensible recommendation. The CA ANZ Core 5 study guide has 8 sections and about 2,199 words.
01Financial Accounting and Reporting
Candidates must understand the objective of general purpose financial reports, the qualitative characteristics (relevance, faithful representation, comparability, verifiability, timeliness, understandability), and the definitions of assets, liabilities, equity, income and expenses. The framework underpins all standards; questions often test whether an item meets the definition of an asset (e.g., control, future economic benefits).
299 words, about 1 min02Management Accounting and Performance Measurement
Understand fixed, variable, mixed costs; relevant costing (incremental costs and opportunity costs); and cost allocation. Candidates must be able to compute contribution margin, break-even point, and margin of safety.
294 words, about 1 min03Audit and Assurance
Understand the purpose of an audit (reasonable assurance), the audit risk model (inherent risk × control risk × detection risk), and the phases: planning, risk assessment, response, reporting. Candidates must know how to assess materiality (overall materiality, performance materiality) and the concept of professional scepticism.
284 words, about 1 min04Taxation
Candidates must understand the concepts of assessable income (ordinary income and statutory income) and deductions (general and specific). Key topics: goods and services tax (GST), capital gains tax (CGT), fringe benefits tax (FBT), and company tax.
265 words, about 1 min05Business Finance and Treasury
The primary objective is to maximise shareholder wealth. Understand the agency problem and corporate governance mechanisms.
299 words, about 1 min06Strategy, Governance and Risk Management
Understand the strategic planning process: vision, mission, objectives, SWOT analysis, PESTLE analysis, and Porter's Five Forces. Know generic strategies (cost leadership, differentiation, focus).
241 words, about 1 min07Business Law and Ethics
Elements of a valid contract: offer, acceptance, consideration, intention to create legal relations, capacity, and legality. Understand terms (conditions, warranties, innominate terms) and remedies for breach (damages, specific performance, injunction).
269 words, about 1 min08Information Systems and Data Analytics
Understand the role of information systems in supporting business processes, decision-making, and competitive advantage. Types of systems: transaction processing systems (TPS), management information systems (MIS), decision support systems (DSS), executive information systems (EIS).
248 words, about 1 min