ICMAP Managerial Level study plan
ICMAP Managerial Level · Give each week a clear focus.
8 weeks · About 6 hours per week
Financial Accounting & Cost and Management Accounting
Build a one-page map of the accounting cycle from source documents to post-closing trial balance
Solve 15 adjusting and closing entry problems without referring to notes
Classify 20 cost items as product vs period and fixed vs variable
Prepare a simple schedule of cost of goods manufactured from a given data set
Your checkpoint
A worked solutions notebook containing the cycle map, 15 completed adjusting/closing problems, and 2 cost classification schedules scored against an answer key
Financial Accounting & Cost and Management Accounting
Prepare a full set of financial statements from an unadjusted trial balance
Compute and interpret at least six key ratios from a completed statement set
Apply job-order costing to compute predetermined overhead rates and over/under-applied overhead
Explain the treatment differences between job-order and process costing in writing
Your checkpoint
One complete financial statement package with a ratio analysis memo and one job-order costing problem fully worked, both self-marked
Cost and Management Accounting & Business Finance and Financial Management
Perform CVP analysis to compute break-even, target profit, and margin of safety for three scenarios
Prepare a flexible budget and compute direct material and direct labour variances
Calculate present and future values of annuities and lump sums using discount factor tables
Evaluate a capital project using NPV, IRR, payback, and discounted payback
Your checkpoint
A variance analysis worksheet plus a capital budgeting appraisal for one project with a one-page recommendation
Business Finance and Financial Management & Financial Accounting
Compute the weighted average cost of capital for a company with debt and equity components
Assess working capital position and recommend actions to shorten the cash conversion cycle
Reconcile a bank statement and locate errors in a cash book
Explain the effect of a share issue and a dividend on the financial statements
Your checkpoint
A mid-point mock exam of 40 mixed questions (Domains 1, 2, 5) completed under timed conditions and scored, with a written error log
Corporate Law and Governance & Business Taxation
Summarise the duties of directors and the concept of separate legal personality with reference to decided cases in outline
Outline the main statutory filing and reporting obligations of a company
Compute taxable income for an individual applying the relevant allowances and rates
Distinguish between tax avoidance and tax evasion and state the consequences of each
Your checkpoint
A two-part summary sheet: one page on corporate governance duties and one page of worked tax computations, each checked against a reference text
Business Strategy and Management & Information Technology and Data Analytics
Apply PESTLE and Porter's Five Forces to a named organisation and derive three strategic implications
Conduct a SWOT-to-TOWS conversion producing at least four actionable options
Describe the role of an accounting information system and the controls that protect data integrity
Interpret a dataset to identify a trend and a variance using basic descriptive statistics
Your checkpoint
A strategy case analysis of one organisation (PESTLE, Five Forces, TOWS) plus a short data interpretation exercise with calculations shown
Financial Accounting & Cost and Management Accounting & Business Finance and Financial Management
Re-solve every question missed in the Week 4 mock without notes
Complete 30 mixed computational questions across financial accounting, costing, and finance
State the formula and one worked example for each of the ten most-used ratios and variance calculations
Identify personal weak areas and rank them by exam weighting
Your checkpoint
A formula and ratio reference card plus a corrected mock paper with all errors resolved and a ranked weakness list
Corporate Law and Governance & Business Taxation & Business Strategy and Management & Information Technology and Data Analytics
Complete two timed full-length practice papers covering all seven domains
Recall the key governance and tax rules from memory in a written brain-dump
Draft concise answer frameworks for scenario-based strategy and IT questions
Review the weakness list and confirm each item is now resolved
Your checkpoint
Two completed timed practice papers with scores recorded, plus a final one-page revision sheet and a signed-off weakness checklist
Milestones
Week 2: Produce a complete set of financial statements and a job-order cost sheet from raw data with no reference to notes
Week 4: Score at least 60% on the timed 40-question mock covering Domains 1, 2, and 5
Week 6: Deliver a full strategy case analysis and a data interpretation exercise, each meeting the stated structure
Week 8: Score at least 65% on both full-length timed practice papers and clear every item on the weakness checklist