CA Sri Lanka Business Level Exam study plan

Map the full Financial Reporting and Accounting syllabus into a one-page topic checklist and rate your confidence on each item from 1 to 5

Work through the conceptual framework and the recognition and measurement rules for the main asset classes (PPE, intangibles, inventories, investment property) and write a half-page summary of each

Practise 20 computation items on depreciation, revaluation, impairment and inventory costing, and log every error with its cause

Draft a personal formula and journal-entry sheet for the topics covered so far

Prepare consolidated financial statements for a parent with one subsidiary, covering goodwill, non-controlling interest and intra-group eliminations

Apply LKAS 36 impairment testing and LKAS 37 provisions to two short scenarios and justify the measurement chosen

Complete 15 mixed-format questions on group accounting and liabilities under timed conditions

Rewrite every wrong answer as a corrected worked solution in your own words

Cover revenue recognition under SLFRS 15 using the five-step model and apply it to three contract scenarios

Review the presentation and disclosure requirements of LKAS 1 and SLFRS 16 and list the common exam traps

Build a costing framework covering job, process and activity-based costing, and compute overhead absorption rates

Solve 10 short costing problems and reconcile any differences between marginal and absorption profit

Compute and interpret CVP, break-even, margin of safety and operating leverage for two multi-product scenarios

Prepare a full master budget (sales, production, materials, labour, cash) for a single-product entity

Evaluate two capital investment proposals using NPV, IRR, payback and ARR, and state which method drives the decision and why

Work through 15 variance analysis items covering materials, labour and overhead

Analyse working capital, liquidity, gearing and profitability ratios for a set of financial statements and write a short interpretation

Explain the sources of short-term and long-term finance and the cost of capital, and compute WACC for a simple capital structure

Map the Sri Lankan income tax framework: residence, source, taxable income, qualifying payments, capital allowances and loss relief

Compute taxable income and tax liability for an individual and a company from given data

Apply VAT principles to input and output tax, registration thresholds and the treatment of zero-rated and exempt supplies

Summarise the core rules of the Companies Act on share capital, directors' duties and statutory filings

Review the law of contract and the Partnership Act, focusing on formation, breach and remedies

Answer 20 short scenario questions on tax and commercial law and record the legal or tax authority relied on for each answer

Work through the audit risk model: identify risks of material misstatement for a given entity and design responsive procedures

Explain the stages of the audit from planning and materiality through evidence, subsequent events and the audit report

Describe the ethical threats under the Code of Ethics and the safeguards that address them

Cover business management topics: SWOT, stakeholder analysis, corporate governance and internal control frameworks

Sit two full-length mock exams under timed conditions and score each domain separately

Revisit the error logs from weeks 1 to 7 and re-solve every item you got wrong

Condense each domain into a one-page revision card of formulas, rates and standards references

Simulate exam-day timing: allocate minutes per question and practise writing structured answers