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    Self Study Plan - FR1 by Sir Adnan Rauf

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    This document outlines a 3-day self-study plan to learn the basics of preparing financial statements, cash flow statements, and recognizing revenue. Each day focuses on a different chapter: Day 1 covers preparing financial statements, Day 2 covers cash flow statements, and Day 3 covers recognizing revenue. For each chapter, the plan provides an overview of the topic, steps to take which include reading sections of the textbook and completing practice problems. The goal is to get a basic understanding of these foundational accounting topics to help students perform better than their peers. Following this plan is expected to leave students needing to learn only branch accounting.

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    Self Study Plan - FR1 by Sir Adnan Rauf

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    132 views1 page
    This document outlines a 3-day self-study plan to learn the basics of preparing financial statements, cash flow statements, and recognizing revenue. Each day focuses on a different chapter: Day 1 covers preparing financial statements, Day 2 covers cash flow statements, and Day 3 covers recognizing revenue. For each chapter, the plan provides an overview of the topic, steps to take which include reading sections of the textbook and completing practice problems. The goal is to get a basic understanding of these foundational accounting topics to help students perform better than their peers. Following this plan is expected to leave students needing to learn only branch accounting.

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    Self_Study_Plan_-_FR1_by_Sir_Adnan_Rauf

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    This document outlines a 3-day self-study plan to learn the basics of preparing financial statements, cash flow statements, and recognizing revenue. Each day focuses on a different chapter: Day 1 covers preparing financial statements, Day 2 covers cash flow statements, and Day 3 covers recognizing revenue. For each chapter, the plan provides an overview of the topic, steps to take which include reading sections of the textbook and completing practice problems. The goal is to get a basic understanding of these foundational accounting topics to help students perform better than their peers. Following this plan is expected to leave students needing to learn only branch accounting.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    132 views1 page

    Self Study Plan - FR1 by Sir Adnan Rauf

    Uploaded by

    A
    This document outlines a 3-day self-study plan to learn the basics of preparing financial statements, cash flow statements, and recognizing revenue. Each day focuses on a different chapter: Day 1 covers preparing financial statements, Day 2 covers cash flow statements, and Day 3 covers recognizing revenue. For each chapter, the plan provides an overview of the topic, steps to take which include reading sections of the textbook and completing practice problems. The goal is to get a basic understanding of these foundational accounting topics to help students perform better than their peers. Following this plan is expected to leave students needing to learn only branch accounting.

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    © All Rights Reserved
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    Download as pdf or txt
    of 1

    RISE School of Accountancy CAF-05

    SELF-STUDY PLAN CAF-05


    It’s the real time to get an edge our other students. For this a self-study plan is prepared for your benefit. By
    following this 3 days self-study plan you will get basic know-how of the following topics:

    DAY CHAPTER TOPIC


    Monday (29-12-14) CHAPTER 1 Preparation of financial statements
    Tuesday (30-12-14) CHAPTER 2 Statement of Cash flows
    Wednesday (31-12-14) CHAPTER 7 Recognition of revenue

    Following is the chapter wise approach:

    Chapter 1: Preparation of financial statements

    What is this topic? This topic is almost similar to final accounts topic in CAF-01. The difference is that in
    CAF-01 we prepared financial statements of an individual and in this topic we will prepare
    financial statements of a company. Before moving forward you must understand following
    two new terms:

    Dividend means drawings


    Share capital means capital

    Step 1 Memorize the LO #12 on my book at page # 13. Remember in company final accounts all
    expenses are classified in 3 categories.
    Step 2 Memorize P/L and balance sheet formats on Pg. 21 and memorize W-1 and W-3 format on
    Pg. 22.
    Step 3 Solve question 1 and 2 in practice set.

    Chapter 2: Cash Flow

    What is cash flow? Putting the figures in the format given on page # 34 of book is cash flow.
    How this format will Some figures may be given in the question and some figures can be calculated as balancing
    be filled? figure using the single entry approach

    Step 1 Memorize the format on Pg # 34 (and W-1) of book and write it down 3 times after
    memorizing (Replace the word dividend with drawings and share capital with capital).
    Ignore the word tax anywhere appearing in the format.
    Step 2 Solve requirement A of Q.1 and Q.2 of practice set

    Chapter 7: Revenues

    What is this topic? This topic guides us that when we should record the sale. A short form of this topic has
    already been taught in CAF-01 that sale/revenue should be recorded at the time goods are
    dispatched. Here we will further add some conditions and some more examples in case of
    sale of goods and rendering of services.

    Step 1 Read page 520-525


    Step 2 Again read page 520-525
    Step 3 Again read page 520-525
    (Its not a joke)
    Note: I acknowledge this fact that you may not be able to completely solve the above questions but I am
    confident that you will be able to solve 60-70% portion of each question.

    Good News: Those who go through this plan, they will be left with only one new topic i.e. branch accounting.

    Adnan Rauf, ACA

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