Korea Accounting Manager Level 2 study plan
Korea Accounting Manager Level 2 · Give each week a clear focus.
8 weeks · About 6 hours per week
Financial Accounting Fundamentals
Explain the purpose and qualitative characteristics of financial accounting information and distinguish it from managerial accounting
Apply the accounting equation to record the effect of at least 20 representative transactions on assets, liabilities and equity
Prepare a simple trial balance from a list of account balances and identify which errors it will and will not detect
Classify accounts by financial statement element and normal balance (debit or credit) without reference notes
Your checkpoint
A one-page account classification table covering at least 30 accounts with element, normal balance and statement placement, plus a solved 20-transaction equation worksheet
Financial Accounting Fundamentals
Apply accrual basis, revenue recognition and matching to decide the correct period for at least 15 scenario items
Record adjusting entries for prepayments, accruals, depreciation and unearned revenue
Close temporary accounts and explain the purpose of the closing process
Reconcile cash book to bank statement and prepare a bank reconciliation with at least three reconciling items
Your checkpoint
A timed 25-item adjusting and closing entry set scored against a self-built answer key, with every missed item corrected in writing
Financial Accounting Fundamentals & Recording Transactions and Journal Entries
Journalize the full accounting cycle for a small trading entity from opening balances to post-closing trial balance
Post journal entries to T-accounts and trace a balance from ledger to trial balance
Prepare a cost-of-goods-sold computation under a periodic inventory system
Distinguish perpetual from periodic inventory recording and choose the correct entries for each
Your checkpoint
A complete month-end accounting cycle workbook for a sample entity, ending in a balanced post-closing trial balance
Accounting Principles and Concepts & Recording Transactions and Journal Entries
Apply the conceptual framework definitions of asset, liability, income and expense to classify borderline items
Justify measurement choices under historical cost versus fair value for given scenarios
Identify and correct errors of principle, omission, commission and compensating error in journal entries
Record entries for notes receivable, notes payable and interest accrual
Your checkpoint
A written error-correction case file with at least 10 flawed journal entries, each with diagnosis, corrected entry and the conceptual principle applied
Accounting Principles and Concepts & Financial Statements Preparation and Analysis
Prepare a classified statement of financial position and a multi-step income statement from a trial balance
Compute and interpret gross margin, operating margin, current ratio, quick ratio and inventory turnover
Explain the effect of depreciation method choice and inventory cost-flow assumption on reported profit
Prepare a statement of changes in equity from opening balances and period movements
Your checkpoint
A full financial statement package for one sample entity with a ratio analysis sheet and a short written interpretation of at least 200 words
Financial Statements Preparation and Analysis & Cost and Managerial Accounting Basics
Prepare a statement of cash flows using the indirect method and reconcile it to the change in cash
Distinguish product costs from period costs and classify at least 20 cost items
Compute cost of goods manufactured for a manufacturing entity
Perform cost-volume-profit analysis to find break-even point and target-profit volume
Your checkpoint
A cash flow statement plus a CVP worksheet for a sample manufacturer, with break-even units and margin of safety shown and checked
Cost and Managerial Accounting Basics & Tax and Business Law Fundamentals
Allocate overhead using a predetermined rate and explain the treatment of under- and over-applied overhead
Prepare a simple job order cost sheet and a basic process costing equivalent-unit calculation
Distinguish value-added tax treatment of input and output VAT on typical business transactions
Identify the corporate income tax basics affecting book profit versus taxable income, including non-deductible items
Your checkpoint
A mixed problem set of 20 items spanning overhead allocation, equivalent units and tax adjustments, scored with a written note on every error
Financial Accounting Fundamentals & Accounting Principles and Concepts & Recording Transactions and Journal Entries & Financial Statements Preparation and Analysis & Cost and Managerial Accounting Basics & Tax and Business Law Fundamentals
Complete a full-length timed mock exam under exam conditions and score it by domain
Rank domains by score percentage and re-drill the two weakest with targeted questions
Reconstruct from memory the journal entries and formulas most frequently missed across weeks 1 to 7
Finalize a one-page formula and entry cheat sheet covering all six domains
Your checkpoint
A scored mock exam report showing per-domain percentages, a list of the 15 most missed items with corrected reasoning, and the final one-page cheat sheet
Milestones
Week 2: Score at least 80% on a self-made 25-item adjusting and closing entry quiz within 40 minutes, with no notes
Week 4: Produce a balanced post-closing trial balance and correctly diagnose at least 8 of 10 planted journal entry errors
Week 6: Prepare a complete financial statement set plus indirect-method cash flow statement that reconciles to the actual change in cash without assistance
Week 8: Score at least 70% overall on the timed mock exam with no domain below 60%, and show improvement over the week 4 baseline