CPA Financial Reporting study plan

Map each element of the conceptual framework (recognition, measurement, derecognition, disclosure) to a worked transaction so every definition is linked to an entry

Apply the five-step revenue model to three contract scenarios containing variable consideration, a significant financing component and a principal-versus-agent judgement

Compute cost of sales and closing inventory under FIFO, weighted average and specific identification, and reconcile the three figures

Write the adjusting entries for inventory written down to net realisable value and state the conditions under which a reversal is permitted

Determine initial and subsequent measurement of property, plant and equipment, including which borrowing costs are capitalised and how the revaluation model is applied

Compute depreciation under straight-line, reducing-balance and units-of-production methods and account prospectively for a change in useful-life estimate

Test a cash-generating unit for impairment, allocate any loss across assets in the unit and account for a permitted reversal

Distinguish research from development expenditure and apply the capitalisation criteria to internally generated intangibles

Classify an obligation as a provision, a contingent liability or neither, and measure a provision using best estimate, expected value and discounting

Compute the lease liability and right-of-use asset at commencement as lessee, including initial direct costs and lease incentives received

Prepare the lessee's subsequent measurement schedule, splitting each payment into interest and principal

Remeasure a lease for a change in lease term and for a change in an index or rate, and record the adjustment

Reconcile the movement in the defined benefit obligation and the plan assets, separating service cost, net interest and remeasurements into profit or loss and OCI

Classify financial assets as amortised cost, FVOCI or FVTPL by applying the business-model and contractual-cash-flow tests to given facts

Calculate an expected credit loss allowance using a simplified provision matrix and record the movement for the year

Split a compound instrument into its liability and equity components at issuance and accrue the liability to maturity

Apply the acquisition method: identify the acquirer and acquisition date, then recognise and measure identifiable net assets at fair value

Compute goodwill or a bargain purchase gain under both the fair-value and proportionate-share methods of measuring non-controlling interest

Prepare consolidation eliminations for intra-group sales, intra-group receivables and payables, and unrealised profit in closing inventory

Account for contingent consideration, acquisition-related costs and a step acquisition where control is obtained in stages

Record equity transactions including share issues, treasury shares, dividends and the closing balance of retained earnings

Prepare a statement of cash flows under the indirect method from a trial balance, reconciling profit to operating cash flow

Assign assets and liabilities to the correct level of the fair value hierarchy and measure them using the market, income and cost approaches

Draft a statement of changes in equity and reconcile its closing total to the statement of financial position

Run spaced-retrieval practice across all five domains and log accuracy by domain to identify the two weakest

Diagnose and correct the ten error types that recur most often in the weeks 1-6 error logs

Complete 40 mixed questions under timed conditions, allocating time per question before starting

Write the key disclosure notes for three selected topics from memory, then check against the standard's requirements

Sit two full-length timed mock examinations under exam conditions with no notes and no pauses

Analyse each mock by domain and re-teach the two lowest-scoring areas with fresh worked examples

Recite from memory the core recognition and measurement criteria for revenue, leases, impairment, provisions and business combinations

Condense the whole syllabus into a one-page revision sheet limited to criteria, formulas and presentation traps