CS Executive CAFM study plan

Build a one-page formula sheet for cost accounting: material variances (price, usage, mix, yield), labour variances (rate, efficiency, idle time), and overhead variances (expenditure, volume, efficiency, capacity).

Solve 15 variance problems from scratch without looking at solutions, then reconcile each total variance to the sum of its components.

Distinguish clearly between marginal costing and absorption costing by preparing a profit reconciliation statement under both methods for a single product with opening and closing stock.

Compute break-even point, margin of safety, P/V ratio, and required sales for target profit, including multi-product CVP using a weighted contribution approach.

Prepare a full cost sheet for a manufacturing entity, classifying prime cost, works cost, cost of production, cost of sales, and profit, handling scrap, defectives, and abnormal losses.

Apply process costing with normal loss, abnormal loss, and abnormal gain, including equivalent production under FIFO and weighted average for work-in-progress.

Work through job, batch, and contract costing, computing notional profit, retention money, and profit to be recognised on incomplete contracts.

Explain activity-based costing cost drivers and contrast ABC with traditional absorption costing on a small numerical example.

Derive and apply the time value of money: compounding, discounting, annuities, perpetuity, and sinking fund factors, solving 20 mixed problems.

Compute cost of each capital component (debt net of tax, preference, equity via dividend growth and CAPM, retained earnings) and the weighted average cost of capital using book and market weights.

Calculate operating, financial, and combined leverage and interpret how each magnifies EPS volatility.

Explain capital structure theories (NI, NOI, traditional, MM with and without tax) and state each theory's assumptions.

Apply capital budgeting techniques - payback, discounted payback, NPV, IRR, MIRR, profitability index - to the same cash-flow stream and reconcile ranking conflicts.

Handle relevant cash flows correctly: incremental analysis, depreciation tax shield, working capital changes, salvage value, and opportunity cost.

Compute NPV under capital rationing using profitability index ranking and explain the limitations of IRR for non-conventional cash flows.

Distinguish between replacement, expansion, and mutually exclusive project decisions and select the correct appraisal method for each.

Compute expected return, variance, standard deviation, and covariance for a two-asset portfolio, then extend to the portfolio variance formula with correlation coefficients of +1, 0, and -1.

Apply CAPM to derive required return, alpha, and the security market line, and interpret beta as a measure of systematic risk.

Calculate and interpret key valuation ratios and fundamental metrics: EPS, P/E, P/B, dividend yield, and intrinsic value via dividend discount and free cash flow models.

Explain the efficient market hypothesis in its weak, semi-strong, and strong forms and identify which form each piece of evidence challenges.

Compute the operating cycle and cash conversion cycle from a given balance sheet and propose two concrete levers to shorten each component.

Apply working capital estimation methods (percentage of sales, regression, operating cycle approach) and determine the financing mix of permanent versus temporary current assets.

Explain bond duration, modified duration, and the relationship between yield changes and price changes, computing approximate price change from duration.

Distinguish money market and capital market instruments and state the risk-return and liquidity profile of each.

Evaluate receivable management decisions: credit standards, credit terms, and collection policy, using incremental cost-benefit analysis including bad debts and discount costs.

Apply inventory management models: EOQ with and without discounts, reorder level, safety stock, and ABC analysis classification.

Describe the primary market mechanism - IPO, book building, rights issue, preferential allotment - and the role of merchant bankers and registrars.

Explain the functions of SEBI, stock exchanges, depositories, and credit rating agencies, and outline the mechanics of leasing, hire purchase, and factoring as financing services.

Consolidate all formula sheets into a single indexed reference and re-derive each formula from first principles to confirm retention.

Complete two full-length timed mock tests under exam conditions and record a domain-wise accuracy score for each.

Re-work every question missed in the mocks, writing the correct method beside the original attempt rather than just the answer.

Identify the two weakest sub-topics from mock data and solve ten targeted problems in each before exam day.