KASNEB CPA Intermediate study plan
KASNEB CPA Intermediate · Give each week a clear focus.
8 weeks · About 7 hours per week
Financial Management & Financial Reporting and Analysis
Compute and interpret the full suite of financial ratios (liquidity, gearing, profitability, investor) from a set of published-style statements
Build a discounted cash flow valuation model and explain the sensitivity of NPV to the discount rate
Distinguish cash flow forecasting from profit measurement and reconcile the two for a sample firm
Map the Kenyan regulatory framework for financial reporting (IFRS adoption, Companies Act disclosure duties) to statement line items
Your checkpoint
A one-page ratio-and-valuation summary for a chosen listed company, with computed ratios, a DCF NPV, and a written reconciliation of profit to cash flow
Financial Reporting and Analysis
Prepare consolidated statements of financial position and profit or loss for a parent with one subsidiary, eliminating intra-group balances
Compute goodwill on acquisition and account for non-controlling interests at fair value
Apply IFRS 15 five-step model to allocate transaction price across performance obligations
Apply IFRS 16 to recognise right-of-use assets and lease liabilities and adjust a lessee's ratios
Your checkpoint
A worked consolidation file (parent + subsidiary) including goodwill computation, NCI, and intra-group eliminations, plus a 10-line explanation of each adjustment
Company Law
Outline the formation, registration, and constitution requirements for a Kenyan company under the Companies Act
Compare the duties, powers, and liability of directors, auditors, and the company secretary
Explain share capital, dividends, and the rules on capital maintenance and distribution
Draft the notice, agenda, and resolutions for an annual general meeting
Your checkpoint
A model AGM pack: notice, agenda, and five draft resolutions, each annotated with the statutory or common-law authority relied on
Company Law & Auditing and Assurance
Explain the legal and professional framework for statutory audit, including appointment, removal, and reporting duties
Apply ISA 315 to identify and assess risks of material misstatement for a given entity description
Design substantive audit procedures that respond to identified risks, linking each procedure to an assertion
Distinguish the auditor's responsibilities from those of management and those charged with governance
Your checkpoint
A risk-assessment and audit-plan memorandum for a hypothetical company: risk register, assertions affected, and a procedures matrix
Auditing and Assurance
Apply ISA 700/701 to draft an unmodified audit report with key audit matters
Evaluate the conditions that require a modified opinion and select the correct modification type
Explain audit sampling, materiality determination, and the use of analytical procedures as substantive tests
Outline ethical threats under the code of ethics and the safeguards available to an audit firm
Your checkpoint
Two draft audit reports (one unmodified with KAMs, one modified) with a written justification of the opinion type chosen
Management Accounting
Prepare a full absorption-costing statement and reconcile it to marginal costing profit
Compute and interpret variances for materials, labour, and overheads, and explain possible causes of each
Apply relevant costing to a short-term decision such as make-or-buy or accept-or-reject a special order
Construct a cash budget and a flexible budget from given operating data
Your checkpoint
A decision-support pack: absorption vs marginal reconciliation, a variance analysis table with cause commentary, and a short-term decision recommendation
Management Accounting & Public Finance and Taxation
Apply cost-volume-profit analysis to compute break-even, margin of safety, and target profit
Explain the Kenyan tax framework for income tax on individuals and companies, including allowable deductions and capital allowances
Compute VAT on a set of transactions, distinguishing taxable, exempt, and zero-rated supplies
Describe the public finance cycle: budgeting, expenditure control, and accountability in public entities
Your checkpoint
A worked tax-and-CVP problem set with computations shown and a one-page note on the public finance accountability chain
Company Law & Financial Management & Financial Reporting and Analysis & Auditing and Assurance & Management Accounting & Public Finance and Taxation
Synthesise cross-domain links, e.g. how a lease adjustment flows from IFRS 16 into ratios, valuation, and audit risk
Complete a timed mixed mock under exam conditions and mark it against a rubric
Diagnose the three weakest areas from the mock and re-drill targeted questions in each
Consolidate a one-page formula, statute, and standard reference sheet for final revision
Your checkpoint
A marked mock exam with a scored breakdown per domain, a list of the three weakest areas, and a completed one-page revision reference sheet
Milestones
Week 2: Produce a consolidation with goodwill and NCI unaided within 90 minutes and score at least 70% on a self-marked IFRS application quiz
Week 4: Complete a risk-assessment memo where every identified risk is linked to an assertion and at least one substantive procedure
Week 6: Reconcile absorption and marginal profit to zero difference and correctly compute all material, labour, and overhead variances on a timed exercise
Week 8: Score at least 65% overall on the mixed mock, with no single domain below 50%