ICAN CA Foundation study plan

Build a one-page map of the accounting cycle from source documents to trial balance, writing each step in your own words

Record 15 journal entries covering cash, credit sales, purchases, returns and drawings, then post them to ledger accounts

Prepare a trial balance from your own ledger and locate and correct two deliberately introduced errors

Define the accounting concepts (going concern, accrual, matching, prudence, consistency) with one original example each

Prepare a bank reconciliation statement from a constructed cash book and bank statement with at least four reconciling items

Compute depreciation under straight-line and reducing-balance methods and show the impact of a mid-year purchase

Draft a corrected profit figure after adjusting for accruals, prepayments, closing stock and bad debts

Explain the treatment of capital versus revenue expenditure with three original borderline examples

Prepare final accounts (trading, profit and loss, balance sheet) for a sole trader from a trial balance with six adjustments

Distinguish the format and purpose of the partnership appropriation account and prepare one from given data

Outline the legal nature of a partnership and the effect of the absence of a partnership deed on profit sharing

Identify which financial statements a company must prepare and who is responsible for their approval

Solve 20 time-value problems covering simple and compound interest, present value and annuities without looking at solutions

Compute mean, median, mode, range and standard deviation for grouped and ungrouped data sets

Calculate and interpret correlation and the two regression lines for a small bivariate data set

Apply rules of differentiation to find maxima and minima of cost and revenue functions

Construct and interpret index numbers and moving averages for a short time series

Solve permutation, combination and basic probability problems involving independent and conditional events

Explain elasticity of demand, its determinants and its link to pricing decisions, using original numerical examples

Distinguish fixed, variable and marginal cost and compute break-even output and margin of safety

Explain the law of demand and supply and illustrate movement along versus shift of a curve with original scenarios

Compare the four market structures on number of firms, product differentiation, price control and long-run profit

Describe the functions of management (planning, organising, staffing, directing, controlling) with one workplace example each

Outline the main forms of business organisation and compare them on liability, control and continuity

State the essential elements of a valid contract and apply them to five short fact patterns

Explain offer, acceptance, consideration and capacity, and identify when a contract becomes void or voidable

Summarise the duties and liabilities of an auditor and the consequences of negligence

Apply a professional code of ethics to three short scenarios involving confidentiality and conflict of interest

Complete two full-length timed mock papers under exam conditions and record section-wise scores

Re-derive every formula in the quantitative sheet from memory and flag any gaps for revision

Rewrite the ten weakest accounting adjustments and legal definitions in condensed form

Build a final one-page revision sheet per domain and schedule two review passes before the exam