CPALE study plan
CPALE · Give each week a clear focus.
8 weeks · About 6 hours per week
Financial Accounting and Reporting
Review and apply the conceptual framework and PFRS 15 revenue recognition to solve computational problems
Prepare journal entries for revenue transactions with multiple performance obligations
Solve at least 20 multiple-choice questions on revenue recognition under time pressure
Create a summary sheet of key revenue recognition criteria and disclosure requirements
Your checkpoint
A scored practice set of 20 MCQs on revenue recognition with a summary of mistakes and corrections
Financial Accounting and Reporting
Apply PFRS 9 financial instruments classification and measurement rules to given scenarios
Compute impairment losses under the expected credit loss model
Analyze leases under PFRS 16 for lessee and lessor accounting
Solve at least 25 multiple-choice questions on financial instruments and leases
Your checkpoint
A completed problem set on financial instruments and leases with step-by-step solutions
Financial Accounting and Reporting & Advanced Financial Accounting and Reporting
Prepare consolidated financial statements for a simple group with one subsidiary
Compute goodwill and non-controlling interest under IFRS 3
Eliminate intra-group transactions in consolidation
Solve at least 15 multiple-choice questions on business combinations
Your checkpoint
A consolidated worksheet for a parent-subsidiary scenario with all elimination entries
Advanced Financial Accounting and Reporting
Apply the temporal and current rate methods for foreign currency translation
Account for forward contracts and options as hedges
Prepare journal entries for foreign currency transactions
Solve at least 20 multiple-choice questions on foreign currency and hedging
Your checkpoint
A set of journal entries and translated financial statements for a foreign subsidiary
Auditing and Assurance Principles & Auditing and Assurance: Concepts and Applications
Explain the Philippine Standards on Auditing (PSA) and their application to audit engagements
Identify and assess risks of material misstatement in a given scenario
Design audit procedures to address assessed risks
Solve at least 20 multiple-choice questions on audit planning and risk assessment
Your checkpoint
A risk assessment memo for a hypothetical audit client with planned audit procedures
Taxation & Regulatory Framework for Business Transactions
Compute income tax liabilities for individuals and corporations under the TRAIN law
Apply value-added tax rules to various transactions
Explain the regulatory framework for business transactions under the Revised Corporation Code
Solve at least 20 multiple-choice questions on taxation and business law
Your checkpoint
A tax computation problem set and a summary of key corporation code provisions
Business Laws and Regulations & Management Services
Summarize the obligations under the Data Privacy Act and Labor Code relevant to business
Apply cost-volume-profit analysis and budgeting techniques
Compute variances for direct materials and direct labor
Solve at least 15 multiple-choice questions on management services and business law
Your checkpoint
A CVP analysis and variance computation exercise with solutions
Economics & Financial Accounting and Reporting & Advanced Financial Accounting and Reporting
Review macroeconomic indicators and their impact on business decisions
Complete a comprehensive review of financial accounting and advanced financial accounting topics
Take a full-length mock exam covering all domains
Analyze mock exam results and revisit weak areas
Your checkpoint
A mock exam score report with a personalized review plan for weak topics
Milestones
Week 2: Score at least 70% on a 30-question quiz covering financial accounting topics (revenue, financial instruments, leases)
Week 4: Complete a consolidated financial statement problem and explain the consolidation process in a written summary
Week 6: Score at least 65% on a 40-question quiz covering auditing, taxation, and business law
Week 8: Achieve a score of at least 75% on the full-length mock exam and identify top three weak areas for further study