CCFA study plan

Build a one-page map of the four primary statements and how they articulate through retained earnings, cash, and equity

Practice 30 adjusting-entry problems covering accruals, deferrals, depreciation, and inventory write-downs, and log every error by cause

Reconstruct the three statements from a trial balance for two small companies without notes

Draft a personal list of the 15 revenue-recognition and lease judgments most likely to be tested and write the decision rule for each

Compute the full ratio set (liquidity, solvency, turnover, profitability) on two annual reports and interpret each trend in two sentences

Convert an accrual-based income statement into a cash-flow view and reconcile the difference line by line

Identify at least five earnings-quality red flags in a real filing, such as receivables growing faster than revenue

Explain how inventory costing and depreciation policy choices distort comparability across two peers

Perform a DuPont decomposition and isolate which margin, turnover, or leverage driver explains a change in return on equity

Compute weighted average cost of capital for two companies, defending each input for cost of debt, beta, and the market risk premium

Calculate operating and financial leverage and explain how each amplifies earnings volatility

Work 20 problems on capital budgeting metrics, resolving conflicts between net present value and internal rate of return

Compare dividend policy, share repurchase, and debt paydown as uses of free cash flow and state the signal each sends

Value one company using discounted cash flow and one using comparable multiples, then reconcile the gap

Build a sensitivity table showing enterprise value across discount rate and terminal growth assumptions

Explain the trade-off theory and pecking order of capital structure against a real company's leverage history

Build a fully linked three-statement model with a debt schedule and circularity handled by a copy-paste or toggle approach

Drive revenue with at least two independent methods and compare the resulting forecasts

Stress the model with a downside case and confirm the balance sheet balances in every scenario

Write the assumption documentation for every driver so a reviewer can audit the model without asking questions

Build a forecast review checklist covering working capital, capital expenditure, and tax rate sanity checks, and run it on your own model

Price forward and option payoffs for a simple hedging case and explain when each instrument is preferred

Compute duration and convexity for a bond and quantify the price change for a 50 basis point rate shift

Identify the main market, credit, liquidity, and operational risks in a company you modeled and propose one mitigation each

Explain how central bank policy rates transmit to bond yields, discount rates, and equity valuations in a written chain of three steps

Interpret a yield curve shape and state the recession signal it does and does not provide

Work 15 problems on interest rate parity, purchasing power parity, and forward exchange rates

Describe how inflation and currency moves change a company's margins and which hedges address each exposure

Apply the code of ethics and standards of practice to 20 short scenarios and justify each decision in one sentence

Distinguish clearly between the standards on integrity, objectivity, and confidentiality using concrete fact patterns

Re-run your weakest two domain quizzes from weeks 1 to 6 and confirm improvement above 75%

Assemble a one-page formula and concept sheet from your error logs and rehearse it aloud twice