CAF 5 Study & Revision Plan
Follow the complete CAF 1 Financial Accounting & Reporting Spring 2027 plan with a date-wise interactive checklist. Tick each task as you complete it — your progress is saved automatically on this device.
CAF-5 • MANAGEMENT ACCOUNTING
Spring 2027 Study & Revision Plan
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Follow the ICAP study text, practice questions and SC E-Learning tests. Sundays are reserved for self-revision and backlog.
| Done | Date | Work Plan | Test |
|---|---|---|---|
| 20-Oct-2026Tuesday | Ch 1 Inventory Valuation – procedures, inventory types, FIFO/AVCO basics | Test 2 | |
| 21-Oct-2026Wednesday | Ch 1 Inventory Valuation – NRV, manufacturing account and journal entries | Test 2 | |
| 22-Oct-2026Thursday | Ch 1 Inventory Valuation – revision sheet, formulas and weak areas | Test 2 | |
| 23-Oct-2026Friday | Attempt SC E-Learning Test 2 (Ch 1 Inventory Valuation) + review mistakes | Test 2 | |
| 24-Oct-2026Saturday | Ch 2 Overheads – cost behaviour, production/non-production overheads | Test 1 | |
| 25-Oct-2026Sunday | SELF REVISION / BACKLOG COVER | — | |
| 26-Oct-2026Monday | Ch 2 Overheads – service department reapportionment methods | Test 1 | |
| 27-Oct-2026Tuesday | Ch 2 Overheads – absorption rates and departmental rates | Test 1 | |
| 28-Oct-2026Wednesday | Ch 2 Overheads – over/under absorption and practice questions | Test 1 | |
| 29-Oct-2026Thursday | Ch 3 Activity Based Costing – concepts, cost pools and cost drivers | Test 6 | |
| 30-Oct-2026Friday | Ch 3 Activity Based Costing – numerical practice and comparison with traditional costing | Test 6 | |
| 31-Oct-2026Saturday | Ch 4 Labour Costing – remuneration systems and payroll accounting | Test 10 | |
| 01-Nov-2026Sunday | SELF REVISION / BACKLOG COVER | — | |
| 02-Nov-2026Monday | Ch 4 Labour Costing – self-test and past paper practice | Test 10 | |
| 03-Nov-2026Tuesday | Attempt relevant SC E-Learning Tests: Test 6 (Ch 3) / Test 10 (Ch 4) + review mistakes | Test 6 / Test 10 | |
| 04-Nov-2026Wednesday | Ch 5 Cost Flow in Production – accounting systems and cost ledger concepts | Test 8 | |
| 05-Nov-2026Thursday | Ch 5 Cost Flow in Production – self-test and ledger practice | Test 8 | |
| 06-Nov-2026Friday | Ch 6 Job and Service Costing – job costing and batch costing | Test 12 | |
| 07-Nov-2026Saturday | Ch 6 Job and Service Costing – service costing and cost units | Test 12 | |
| 08-Nov-2026Sunday | SELF REVISION / BACKLOG COVER | — | |
| 09-Nov-2026Monday | Ch 6 final review + Chapter 5 & 6 mixed practice | Test 12 | |
| 10-Nov-2026Tuesday | Attempt relevant SC E-Learning Tests: Test 8 (Ch 5) / Test 12 (Ch 6) + review mistakes | Test 8 / Test 12 | |
| 11-Nov-2026Wednesday | Self Revision / Backlog Cover + Practice Questions | — | |
| 12-Nov-2026Thursday | Self Revision / Backlog Cover + Practice Questions | — | |
| 13-Nov-2026Friday | Ch 7 Process Costing – process accounts and normal/abnormal loss basics | Test 5 | |
| 14-Nov-2026Saturday | Ch 7 Process Costing – equivalent units, FIFO/weighted average concepts | Test 5 | |
| 15-Nov-2026Sunday | SELF REVISION / BACKLOG COVER | — | |
| 16-Nov-2026Monday | Ch 7 Process Costing – WIP valuation and cost per equivalent unit | Test 5 | |
| 17-Nov-2026Tuesday | Ch 7 Process Costing – rework and transferred-in costs practice | Test 5 | |
| 18-Nov-2026Wednesday | Ch 7 Process Costing – past paper practice and revision sheet | Test 5 | |
| 19-Nov-2026Thursday | Attempt SC E-Learning Test 5 (Ch 7 & 8) + review mistakes | Test 5 | |
| 20-Nov-2026Friday | Ch 7 Process Costing – difficult questions and weak areas | Test 5 | |
| 21-Nov-2026Saturday | Ch 8 Joint and By-product Costing – by-product accounting and practice | Test 5 | |
| 22-Nov-2026Sunday | SELF REVISION / BACKLOG COVER | — | |
| 23-Nov-2026Monday | Ch 8 Joint and By-product Costing – past paper practice | Test 5 | |
| 24-Nov-2026Tuesday | Ch 7 & Ch 8 mixed revision and formula sheet | Test 5 | |
| 25-Nov-2026Wednesday | Ch 9 Marginal and Absorption Costing – contribution, profit statements | Test 14 | |
| 26-Nov-2026Thursday | Ch 9 Marginal and Absorption Costing – reconciliation and inventory impact | Test 14 | |
| 27-Nov-2026Friday | Ch 9 Marginal and Absorption Costing – mixed numerical practice | Test 14 | |
| 28-Nov-2026Saturday | Attempt SC E-Learning Test 14 (Ch 9) + review mistakes | Test 14 | |
| 29-Nov-2026Sunday | SELF REVISION / BACKLOG COVER | — | |
| 30-Nov-2026Monday | Ch 10 Standard Costing – standard rates and standard cost card | Test 9 | |
| 01-Dec-2026Tuesday | Ch 10 Standard Costing – self-test and link with variance analysis | Test 9 | |
| 02-Dec-2026Wednesday | Ch 11 Variance Analysis – labour rate, efficiency and idle time variances | Test 9 | |
| 03-Dec-2026Thursday | Ch 11 Variance Analysis – variable overhead variances | Test 9 | |
| 04-Dec-2026Friday | Ch 11 Variance Analysis – material mix and yield basics | Test 9 | |
| 05-Dec-2026Saturday | Ch 10 & 11 practice – material/labour/variable OH mixed questions | Test 9 | |
| 06-Dec-2026Sunday | SELF REVISION / BACKLOG COVER | — | |
| 07-Dec-2026Monday | Attempt SC E-Learning Test 9 (Ch 10 & 11) + review mistakes | Test 9 | |
| 08-Dec-2026Tuesday | Ch 11 Variance Analysis – fixed OH capacity/efficiency/expenditure | Test 9 | |
| 09-Dec-2026Wednesday | Ch 11 Variance Analysis – operating statements | Test 9 | |
| 10-Dec-2026Thursday | Ch 11 Variance Analysis – comprehensive practice questions | Test 9 | |
| 11-Dec-2026Friday | Ch 11 Variance Analysis – past paper and weak areas | Test 9 | |
| 12-Dec-2026Saturday | Ch 12 Target Costing – target cost, target gap and cost reduction | Test 13 | |
| 13-Dec-2026Sunday | SELF REVISION / BACKLOG COVER | — | |
| 14-Dec-2026Monday | Ch 12 Target Costing – practice questions and short theory | Test 13 | |
| 15-Dec-2026Tuesday | Ch 13 CVP Analysis – contribution, BEP, margin of safety | Test 7 | |
| 16-Dec-2026Wednesday | Ch 13 CVP Analysis – past paper practice | Test 7 | |
| 17-Dec-2026Thursday | Attempt SC E-Learning Test 13 (Ch 12) / Test 7 (Ch 13) + review mistakes | Test 13 / Test 7 | |
| 18-Dec-2026Friday | Ch 14 Relevant Costs – relevant/irrelevant costs and opportunity cost | Test 11 | |
| 19-Dec-2026Saturday | Ch 14 Relevant Costs – minimum price and one-off contract practice | Test 11 | |
| 20-Dec-2026Sunday | SELF REVISION / BACKLOG COVER | — | |
| 21-Dec-2026Monday | Ch 14 Relevant Costs – past paper practice and summary sheet | Test 11 | |
| 22-Dec-2026Tuesday | Ch 15 Decision Making Techniques – limiting factor decisions | Test 3 | |
| 23-Dec-2026Wednesday | Ch 15 Decision Making Techniques – make or buy decisions | Test 3 | |
| 24-Dec-2026Thursday | Ch 15 Decision Making Techniques – further processing and shutdown decisions | Test 3 | |
| 25-Dec-2026Friday | Ch 15 Decision Making Techniques – mixed past paper practice | Test 3 | |
| 26-Dec-2026Saturday | Attempt SC E-Learning Test 3 (Ch 15 Decision Making Techniques) + review mistakes | Test 3 | |
| 27-Dec-2026Sunday | SELF REVISION / BACKLOG COVER | — | |
| 28-Dec-2026Monday | Ch 16 Inventory Management – EOQ, reorder level and inventory control | Test 4 | |
| 29-Dec-2026Tuesday | Ch 16 Inventory Management – past paper practice and formula sheet | Test 4 | |
| 30-Dec-2026Wednesday | Attempt SC E-Learning Test 4 (Ch 16 Inventory Management) + review mistakes | Test 4 | |
| 31-Dec-2026Thursday | Revision Round 1 – Ch 1 to Ch 3 key formulas and selected questions | — | |
| 01-Jan-2027Friday | Revision Round 1 – Ch 7 to Ch 8 selected questions | — | |
| 02-Jan-2027Saturday | Revision Round 1 – Mixed practice and past paper questions (Ch 1 to Ch 8) | — | |
| 03-Jan-2027Sunday | SELF REVISION / BACKLOG COVER | — | |
| 04-Jan-2027Monday | Revision Round 2 – Ch 9 to Ch 11 selected questions | — | |
| 05-Jan-2027Tuesday | Revision Round 2 – Ch 14 to Ch 16 selected questions | — | |
| 06-Jan-2027Wednesday | Revision Round 2 – Mixed practice and past paper questions (Ch 9 to Ch 16) | — | |
| 07-Jan-2027Thursday | Past Paper 1 – attempt in one sitting with exam timing | — | |
| 08-Jan-2027Friday | Final Revision – overheads, process costing and variance analysis | — | |
| 09-Jan-2027Saturday | Final Day Revision – formulas, formats, mistakes list and exam strategy | — | |
| 10-Jan-2027Sunday | SELF REVISION / BACKLOG COVER | — | |
| 11-Jan-2027Monday | Full revision: Ch 1 Inventory Valuation | — | |
| 12-Jan-2027Tuesday | Full revision: Ch 2 Overheads | — | |
| 13-Jan-2027Wednesday | Full revision: Ch 3 Activity Based Costing; Ch 4 Labour Costing | — | |
| 14-Jan-2027Thursday | Full revision: Ch 5 Cost Flow in Production | — | |
| 15-Jan-2027Friday | Full revision: Ch 6 Job and Service Costing | — | |
| 16-Jan-2027Saturday | Full revision: Ch 7 Process Costing; Ch 8 Joint and By-product Costing | — | |
| 17-Jan-2027Sunday | SELF REVISION / BACKLOG COVER | — | |
| 18-Jan-2027Monday | Full revision: Ch 10 Standard Costing | — | |
| 19-Jan-2027Tuesday | Full revision: Ch 11 Variance Analysis; Ch 12 Target Costing | — | |
| 20-Jan-2027Wednesday | Full revision: Ch 13 CVP Analysis | — | |
| 21-Jan-2027Thursday | Full revision: Ch 14 Relevant Costs | — | |
| 22-Jan-2027Friday | Full revision: Ch 15 Decision Making Techniques; Ch 16 Inventory Management | — | |
| 23-Jan-2027Saturday | Timed ICAP Past Paper 1 + marking and error log | Past Paper | |
| 24-Jan-2027Sunday | SELF REVISION / BACKLOG COVER | — | |
| 25-Jan-2027Monday | Integrated revision: hardest topics, MCQs, written practice and examiner comments | — | |
| 26-Jan-2027Tuesday | Timed ICAP Past Paper 2 + marking and error log | Past Paper | |
| 27-Jan-2027Wednesday | SC E-Learning full syllabus mock + solution analysis | Full Mock | |
| 28-Jan-2027Thursday | Integrated revision: hardest topics, MCQs, written practice and examiner comments | — | |
| 29-Jan-2027Friday | Timed ICAP Past Paper 3 + marking and error log | Past Paper | |
| 30-Jan-2027Saturday | Formula sheets / key standards / statutory provisions + repeated mistakes | — | |
| 31-Jan-2027Sunday | SELF REVISION / BACKLOG COVER | — |
SC E-LEARNING
CAF 5 Comprehensive Test Series
Test 1Chapter 2 — Overheads
Test 2Chapter 1 — Inventory Valuation
Test 3Chapter 15 — Decision Making Techniques
Test 4Chapter 16 — Inventory Management
Test 5Ch 7 Process Costing + Ch 8 Joint and By-product Costing
Test 6Chapter 3 — Activity Based Costing
Test 7Chapter 13 — Cost-Volume-Profit (CVP) Analysis
Test 8Chapter 5 — Cost Flow in Production
Test 9Ch 10 Standard Costing + Ch 11 Variance Analysis
Test 10Chapter 4 — Labour Costing
Test 11Chapter 14 — Relevant Costs
Test 12Chapter 6 — Job and Service Costing
Test 13Chapter 12 — Target Costing
Test 14Chapter 9 — Marginal Costing and Absorption Costing
Test 15Full Book
Mid 1Syllabus will be announced in January 2027
Mid 2Syllabus will be announced in January 2027
Final Preparation Resources
Before the final exam, attempt at least 2–3 past papers in one sitting each under exam conditions, review mistakes and revisit weak areas.