CIMA BA3 study plan

Define the purpose and scope of financial accounting and distinguish it from management accounting and from bookkeeping tasks

Identify the main users of published financial statements and match each user group to the decisions they make and the information they need

Explain the qualitative characteristics of useful financial information and apply them to short scenarios to judge which measurement choice is preferable

Describe the regulatory framework for published accounts, including the roles of legislation, accounting standards and enforcement bodies, without naming specific standard numbers you have not verified

Set up a double-entry practice routine and record 20 simple transactions covering cash, receivables, payables and capital

Apply the accounting equation to show how each transaction affects assets, liabilities and equity

Record transactions in ledger accounts using debits and credits, including opening balances and balancing off accounts at period end

Distinguish capital expenditure from revenue expenditure and explain the effect of misclassification on profit and on the statement of financial position

Prepare an unadjusted trial balance from a list of balances and locate and correct errors where the trial balance does not agree

Post correcting entries for errors of principle, omission, commission, original entry, reversal and compensating errors, and state which errors a trial balance cannot detect

Prepare a journal to record non-routine transactions, including correction of errors and opening entries

Explain the purpose of control accounts and reconcile the receivables ledger control account to the list of ledger balances

Prepare a bank reconciliation from a cash book and bank statement, adjusting for unpresented cheques, uncredited lodgements, bank charges and standing orders

Construct and use a suspense account to clear a difference on the trial balance

Explain why a journal is the book of prime entry for adjustments and corrections rather than for routine sales or purchase transactions

Prepare the journal entries and ledger postings for accruals, prepayments, depreciation, irrecoverable debts and allowances for receivables

Distinguish capital from revenue items in a given list of expenditure and justify each classification in one sentence

Prepare an extended trial balance from a trial balance plus a list of adjustments

Draft a statement of profit or loss and a statement of financial position from an extended trial balance

Check your own draft statements for internal consistency, for example that net assets equal capital plus retained profit

Explain the difference between sole trader, partnership and company financial statements and identify which items appear only in company accounts

Prepare a partnership appropriation account and show how residual profit or loss is shared under a given profit-sharing ratio

Record the admission of a new partner, including goodwill adjustments, in the capital and current accounts

Prepare the partners' capital and current accounts and present them within a statement of financial position

Explain why partners' current accounts are used rather than adjusting capital accounts for each year's profit share

Distinguish the main sources of finance for a company and classify each as equity or debt

Record the issue of shares at par and at a premium, including the treatment of a rights issue

Account for loan notes, including issue proceeds and the finance cost for the period

Prepare the equity section of a company statement of financial position, showing share capital, share premium and retained earnings separately

Explain the purpose of reserves and distinguish a capital reserve from a revenue reserve with one example of each

Prepare a statement of cash flows using the indirect method from a statement of financial position and a statement of profit or loss

Reconcile profit before tax to cash generated from operations, adjusting for depreciation, gains and losses on disposal, and working capital movements

Interpret a set of published accounts using ratios covering profitability, liquidity, efficiency and gearing

Explain the limitations of ratio analysis, including the effect of accounting policies, seasonality and the absence of non-financial information

Practise explaining a ratio movement in two or three sentences, linking the change to a plausible business cause

Consolidate the whole syllabus into a personal one-page formula and definition sheet covering the accounting equation, control accounts, depreciation methods and the main ratios

Complete a full-length timed mock under exam conditions and mark it strictly against the published marking structure

Categorise every mock error by cause, such as misread requirement, weak double entry, timing or unfamiliar terminology

Re-work every mock question you lost marks on without looking at the answer, then compare and note the difference

Identify the three weakest topics from the mock and write a targeted 30-minute revision drill for each