Nissho Bookkeeping Grade 1 study plan

Map the consolidation adjustment flow (capital elimination, intercompany receivables/payables, unrealized inventory profit) and reproduce it from memory on a blank worksheet

Compute non-controlling interests at acquisition and in subsequent profit allocation, including dividends paid to NCI

Calculate goodwill at acquisition and explain the difference between full goodwill and proportionate-share goodwill methods

Prepare the equity-method-to-consolidation reconciliation for a simple parent-subsidiary case with no minority interest complexities

Handle downstream versus upstream unrealized profit and allocate the elimination between parent and NCI

Compute consolidated retained earnings and consolidated net income when the subsidiary has pre-acquisition retained earnings

Draft elimination entries for intercompany fixed asset sales at a gain, including depreciation adjustment over remaining useful life

Reconcile consolidated statements of changes in equity with the worksheet entries

Determine acquisition-date fair value allocations and recognize identifiable intangible assets separately from goodwill

Apply the equity method to an associate, including profit/loss share, dividends, and unrealized profit on intercompany transactions

Distinguish equity method from consolidation and from fair value measurement, and justify which applies given an ownership percentage

Record step acquisition and partial disposal entries under the equity method

Apply the percentage-of-completion method using cost-to-cost input and compute the cumulative catch-up adjustment

Identify when a contract is onerous and record the provision for expected loss

Classify leases as finance or operating under lessee accounting and compute right-of-use asset and lease liability at commencement

Compute retirement benefit obligation, service cost, interest cost, and actuarial gain/loss under the corridor or immediate recognition approach

Apply impairment indicators and compute recoverable amount using the higher of value in use and fair value less costs of disposal

Allocate an impairment loss across cash-generating units and goodwill in the prescribed order

Classify financial assets into measurement categories and record fair value changes through profit or loss versus other comprehensive income

Translate foreign currency receivables and payables at spot and closing rates and record exchange differences

Record stock option expense over the vesting period and the corresponding equity components at exercise and forfeiture

Compute treasury stock transactions and their effect on capital surplus and retained earnings

Prepare a statement of changes in equity with share splits, dividends, and stock options

Handle foreign currency translation of a foreign subsidiary's financial statements into the presentation currency

Compute equivalent units under weighted-average and FIFO process costing and reconcile the two

Calculate material price and quantity variances and labor rate and efficiency variances, then decompose each into a responsible-cause explanation

Apply relevant costing to a make-or-buy or special-order decision and identify sunk and opportunity costs by name

Compute NPV, IRR, payback, and profitability index for a capital project and state when ranking conflicts arise

Build a flexible budget and separate activity-level variances from spending variances

Evaluate a division using ROI, residual income, and EVA and explain why the three can rank divisions differently

State the statutory rules on corporate formation, share issuance, capital reduction, and director liability for dividends

Identify which corporate law rule governs a given accounting scenario and name the required accounting consequence