CMA Inter Paper 6 study plan

Build a one-page map of the conceptual framework: objective of financial statements, qualitative characteristics, elements, recognition and measurement bases, and capital maintenance concepts.

Apply the accrual, going concern, consistency and prudence conventions to ten short scenarios and state which convention governs each adjustment.

Draft the full final accounts of a sole proprietor from a given trial balance, including manufacturing account, trading account, profit and loss account and balance sheet, and classify each item correctly.

Prepare a corrected profit figure after identifying eight deliberate errors in a trial balance and show the journal entries for each correction.

Compute and record depreciation under straight-line and written-down-value methods, including the asset-disposal account and profit or loss on sale.

Prepare adjustment entries for outstanding expenses, prepaid expenses, accrued income, income received in advance and provision for doubtful debts, and show their effect on the balance sheet.

Draw up a partnership profit and loss appropriation account covering interest on capital, interest on drawings, salary to a partner and division of residual profit.

Solve admission, retirement and death-of-partner cases involving goodwill valuation, sacrifice and gain ratios, revaluation of assets and liabilities, and adjustment of reserves.

Prepare a consignment account, consignee's account and consignor's account, treating expenses, commission, abnormal loss, normal loss and stock on consignment correctly.

Draft a joint venture memorandum account and a separate set of venture accounts under the separate-book method, and compare the two presentations.

Compute the value of stock lost by fire and the insurance claim under a loss-of-profit policy, including the short-sales clause and average clause.

Record transactions under the self-balancing ledger system and reconcile the general ledger adjustment account with the debtors, creditors and other subsidiary ledgers.

Prepare branch accounts under the debtors system and the stock-and-debtors system, including goods in transit and unrealised profit on closing stock.

Apply the accounting treatment for bills of exchange: discounting, endorsement, dishonour, noting charges, retirement and renewal, including accommodation bills.

Pass journal entries for issue of shares at par and at a premium, calls in arrears, calls in advance, forfeiture of shares and reissue of forfeited shares.

Prepare the underwriters' account and compute the liability of each underwriter under a marked and unmarked application arrangement.

Compute the amount available for preferential and equity dividends from a given schedule of profits and losses, and prepare the relevant accounts.

Prepare the statement of profit and loss and the balance sheet of a company in the prescribed vertical form, classifying items into the correct headings and sub-headings.

Compute managerial remuneration and net profits under the relevant statutory ceiling, adjusting for depreciation, directors' fees and prior-period items.

Pass entries for issue and redemption of debentures, including own debentures, cum-interest and ex-interest purchases, and sinking fund treatment.

Prepare the profit prior to incorporation and post-incorporation profit statement by apportioning expenses on a time and turnover basis.

Draft the final accounts of a company from a trial balance, including provision for tax, transfer to reserves and proposed dividend disclosure.

Prepare the profit and loss account and balance sheet of a banking company in the prescribed format, classifying advances, investments and deposits correctly and computing provisions and NPAs.

Compute the operating profit and net profit of a general insurance company, distinguishing between fire, marine and miscellaneous business, and prepare the revenue account and profit and loss account.

Draft the financial statements of a not-for-profit entity, including the receipts and payments account, income and expenditure account and balance sheet, and treat subscriptions, donations and legacies correctly.

Prepare a simple electricity or other regulated-entity revenue account showing the treatment of capital expenditure and consumer contributions.

Summarise the scope, objective, key definitions and disclosure requirements of the accounting standards on inventories, property plant and equipment, revenue, and provisions and contingencies, and apply each to a short numerical case.

Explain the treatment of prior-period items, extraordinary items and changes in accounting policies, and show how each is presented.

Apply the standards on accounting for leases, borrowing costs and impairment to given fact patterns and compute the amounts to be recognised.

Describe the structure and role of the standard-setting and regulatory framework, and state the effect of the relevant provisions of the Companies Act on presentation and disclosure.

Solve two full-length mock papers under timed conditions and score each against the official marking scheme.

List every error from the mocks, tag it to a domain, and rework each wrong answer until it is correct without reference notes.

Revise the conceptual framework and the presentation formats of company, banking and insurance accounts from your own condensed notes.

Build a one-page formula and format sheet covering depreciation, goodwill, loss of profit, dividend and managerial remuneration.