SOCPA Auditing study plan
SOCPA Auditing · Give each week a clear focus.
8 weeks · About 7 hours per week
Auditing and Assurance & Financial Accounting and Reporting
Map the audit and financial reporting syllabi into a single topic checklist with confidence ratings
Explain the audit risk model and apply it to two short scenarios
Prepare adjusting journal entries for depreciation, accruals, and revenue cut-off errors
Compute and interpret the five core financial ratios from a set of trial-balance data
Your checkpoint
A completed topic checklist with confidence ratings plus a one-page worked risk-assessment example and a journal-entry log of at least 10 entries
Auditing and Assurance & Financial Accounting and Reporting
Distinguish the components of audit risk and document how each drives evidence quantity and quality
Design substantive procedures for receivables, inventory, and payables
Apply IFRS recognition and measurement rules to revenue and inventory transactions
Draft audit findings that link a misstatement to the affected assertion and financial statement line
Your checkpoint
A procedures matrix covering three account balances, each with assertion, procedure, and evidence type, plus five IFRS application exercises scored against model answers
Auditing and Assurance & Financial Accounting and Reporting
Classify audit evidence by reliability and select appropriate sampling approaches
Evaluate internal control deficiencies and recommend remediation
Prepare a complete set of financial statements from a trial balance, including disclosures
Reconcile a statement of cash flows to the movement in cash and identify classification errors
Your checkpoint
A full set of financial statements prepared from raw trial-balance data, with a marked-up cash flow reconciliation and a control-deficiency memo
Auditing and Assurance & Financial Accounting and Reporting
Draft each type of audit report, including modified opinions, from given fact patterns
Apply subsequent-events and going-concern guidance to scenario data
Analyze consolidated statements including simple intercompany eliminations
Explain the auditor's responsibilities for fraud and non-compliance with laws
Your checkpoint
A timed 90-minute mock section covering Domains 1 and 2, scored to at least 65% with a written error log
Management Accounting and Cost Accounting
Compute cost of goods manufactured and sold for a manufacturing scenario
Allocate overhead using traditional and activity-based methods and compare the results
Prepare a contribution-margin income statement and compute break-even and margin of safety
Perform variance analysis for materials, labor, and overhead and interpret the causes
Your checkpoint
A cost accounting workbook containing a full job-costing problem, an ABC comparison, a CVP analysis, and a variance report with written interpretations
Management Accounting and Cost Accounting & Taxation, Commercial Law and Professional Ethics
Build a master budget from given sales and production assumptions
Evaluate a capital investment using payback, NPV, and IRR and recommend a decision
Apply core tax computation rules to individual and business income scenarios
Identify the commercial-law principles governing contracts and company formation
Your checkpoint
A master budget spreadsheet with all supporting schedules plus a capital-budgeting recommendation memo and 15 solved tax and law practice items
Taxation, Commercial Law and Professional Ethics
Apply the professional code of ethics to resolve independence and conflict-of-interest dilemmas
Distinguish the regulatory framework governing auditors and reporting entities
Compute tax liabilities across the main taxpayer categories and explain filing obligations
Analyze commercial-law case scenarios and state the applicable rule and outcome
Your checkpoint
Four written ethics case analyses using an identify-rule-apply-conclude structure, plus a one-page tax computation summary sheet
Auditing and Assurance & Financial Accounting and Reporting & Management Accounting and Cost Accounting & Taxation, Commercial Law and Professional Ethics
Complete two full-length timed mock exams under exam conditions
Rank weak topics by error frequency and re-drill the top ten
Recite key standards, formulas, and tax rates from memory without notes
Finalize a one-page formula and standards reference sheet for last-day review
Your checkpoint
Two scored mock exams with an error log, a ranked remediation list, and a completed one-page reference sheet
Milestones
Week 2: Score at least 60% on a 30-question mixed quiz covering Domains 1 and 2, with no more than three repeated error types
Week 4: Complete the timed Domain 1 and 2 mock section at 65% or above and submit the written error log
Week 6: Produce a fully balanced master budget and correctly compute NPV and IRR for the capital-budgeting case
Week 7: Score at least 70% on a 25-question Domain 4 ethics, law, and tax quiz
Week 8: Achieve 70% or higher on both full-length mock exams and confirm every item on the reference sheet is memorized