ICAM CA(M) study plan

ICAM CA(M) · Give each week a clear focus.

8 weeks · About 7 hours per week

Week 1

Financial Accounting and Reporting

Build a one-page IFRS/GAAP framework map covering recognition, measurement, and disclosure for revenue, leases, and financial instruments
Solve 40 computational problems on adjusting entries, accruals, and depreciation without notes, then rework every error
Draft a personal error log template that records the standard cited, the reasoning gap, and the correction for each miss

A completed error log with at least 30 entries and a scored 40-question computational set at 70% or better

Week 2

Prepare consolidated statements for a parent-subsidiary scenario including intercompany elimination and non-controlling interest
Reconcile a trial balance to a full set of financial statements and articulate each classification decision aloud
Explain the treatment of deferred tax, impairment, and provisions in writing to a hypothetical client

One full consolidation worked end to end with a 300-word technical memo justifying each elimination

Week 3

Map the audit risk model onto a mock manufacturing client and document inherent, control, and detection risk assessments
Design substantive procedures for revenue and inventory that respond to the identified risks
Draft audit sampling selections and evaluate misstatements against materiality

A risk assessment and audit program for one mock client with procedures explicitly linked to each assessed risk

Week 4

Complete a timed 60-question mixed set across financial reporting and audit under exam conditions
Review every missed item and tag it to a root cause category in the error log
Rewrite weak topic summaries for the three lowest-scoring subtopics

A timed mock score report with root-cause tags for all misses and rewritten summaries for three subtopics

Week 5

Compute taxable income from accounting profit by adjusting for permanent and temporary differences
Calculate current and deferred tax balances and present them per the applicable standard
Apply indirect tax rules to a set of transaction scenarios and identify registration and reporting obligations

A tax computation workbook with at least five scenarios showing book-to-tax reconciliation and deferred tax roll-forward

Week 6

Prepare a capital gains and relief computation for a disposal scenario with supporting workings
Build a variance analysis that decomposes profit deviation into price, volume, and mix components
Evaluate an investment appraisal using NPV, IRR, and payback, and justify the preferred method

A combined tax and appraisal memo of 600 words with full workings and a clear recommendation

Week 7

Construct a cash budget and a set of pro forma statements from given assumptions
Compute and interpret working capital ratios and recommend corrective actions
Assess financing options by comparing cost of capital, gearing impact, and covenant risk

A budgeting and financing pack with pro forma statements, ratio dashboard, and a one-page recommendation

Week 8

Sit two full-length timed mocks and record section-level timing and accuracy
Drill the 20 highest-frequency error types from the error log to automaticity
Rehearse written response structure for scenario questions under a strict time limit

Two completed mock exams with a final revision sheet of 20 error patterns and target scores met

Week 2: Score at least 70% on an untimed 40-question financial reporting set and explain every consolidation elimination without notes

Week 4: Timed mixed mock at 65% or better with a completed root-cause log for every missed question

Week 6: Produce a correct book-to-tax reconciliation and deferred tax computation unaided within 45 minutes

Week 8: Both full-length mocks at 75% or better with no single domain below 65%