ICAM CA(M) study guide
ICAM CA(M) · Work through your exam, one topic at a time.
The CA (M) is the chartered accountancy qualification of the Institute of Chartered Accountants in Malawi (ICAM), the national professional body listed at icam.mw. The site presents the CA (M) Completion route alongside ICAM's other study paths - the CIFA Certificate in Financial Accounting, the Technician Diploma in Accounting and the Diploma qualification - plus student resources such as a student portal, student magazine and student FAQs. The ICAM CA(M) study guide has 4 sections and about 1,614 words.
01Financial Accounting and Reporting
Financial Accounting and Reporting at CA(M) level examines whether you can prepare, adjust and interpret financial statements for Malawian entities under IFRS as adopted by ICAM, alongside the presentation and disclosure requirements of the Companies Act 2013. Expect consolidation adjustments, deferred tax, foreign-currency translation and ratio interpretation, not just single-entity bookkeeping.
417 words, about 2 min02Audit and Assurance
Audit and Assurance tests your ability to design a risk-based audit using ISAs, as adopted by ICAM, within Malawi's regulatory framework: the Companies Act 2013 audit requirement, statutory oversight of the profession by the Malawi Accountants Board under the Public Accountants and Auditors Act, and the IESBA Code of Ethics as the basis for independence judgements. Risk assessment (ISA 315): understand the entity and its environment, including the IT environment and internal controls, then identify risks of material misstatement at the assertion level.
404 words, about 2 min03Taxation
Taxation in CA(M) covers Malawi income tax on companies and individuals, VAT, withholding taxes and the administration of the Malawi Revenue Authority (MRA). You are expected to compute taxable income from accounting profit, handle capital allowances, and apply the 30% corporate rate and 16.5% VAT rate under the Taxation Act and annual Finance Acts.
391 words, about 2 min04Management Accounting and Business Finance
This domain tests decision support: cost behaviour and relevant costing, budgeting and variance analysis, short-term decisions, and long-term investment appraisal using NPV, IRR and payback. Business finance extends this to the cost of capital, gearing and working capital management - examined in a Malawian context of high borrowing costs, kwacha volatility and foreign-exchange scarcity.
402 words, about 2 min