ICAN (Nigeria) ACA Qualification (ICAN-ACA)

What you will practice:

Build core bookkeeping and financial statement skills for individuals, partnerships, and introductory company accounts.

• Conceptual framework and accounting principles
• Double-entry bookkeeping
• Trial balance and correction of errors
• Accounting for cash, receivables, payables, and inventory
• Depreciation and non-current assets
• Accruals, prepayments, and provisions
• Preparation of financial statements for sole traders and partnerships
• Introduction to company accounts
• Bank reconciliation statements
• Basic interpretation of financial statements

Tip: After topic practice, do mixed sets under time pressure and review missed questions immediately.

What you will practice:

Learn costing and budgeting fundamentals and how managers use accounting information for decisions.

• Cost classification and cost behaviour
• Marginal costing and absorption costing
• Break-even analysis and CVP analysis
• Budgeting techniques and budgetary control
• Standard costing and variance analysis
• Job, batch, and process costing
• Introduction to performance measurement
• Basic decision-making techniques (make/buy, shut down decisions)

Tip: After topic practice, do mixed sets under time pressure and review missed questions immediately.

What you will practice:

Understand the economic, ethical, and organisational context in which Nigerian and global businesses operate.

• Business organizations and structures
• Micro and macroeconomic environment
• Demand and supply concepts
• Inflation, unemployment, and economic growth
• Role of government in business
• Business ethics and corporate governance fundamentals
• Marketing basics
• Introduction to entrepreneurship
• Global business environment
• Business communication

Tip: After topic practice, do mixed sets under time pressure and review missed questions immediately.

What you will practice:

Cover the Nigerian legal framework relevant to business operations, contracts, and corporate administration.

• Nigerian legal system and sources of law
• Law of contract
• Law of agency
• Sale of goods
• Partnership law
• Company formation and administration
• Rights and duties of directors and shareholders
• Employment law
• Negotiable instruments
• Basic insolvency concepts

Tip: After topic practice, do mixed sets under time pressure and review missed questions immediately.

What you will practice:

Apply IFRS-based reporting to company accounts, groups, and key measurement areas, then interpret performance and position.

• Conceptual framework (IFRS basis)
• Preparation of company financial statements
• Group accounts (subsidiaries and associates)
• Accounting for income taxes
• Leases and revenue recognition
• Financial instruments (basic level)
• Cash flow statements
• Interpretation of financial statements
• Accounting for non-current assets and impairment

Tip: After topic practice, do mixed sets under time pressure and review missed questions immediately.

What you will practice:

Master the Nigerian tax system, core taxes, computations, and planning basics used in practice.

• Nigerian tax system and administration
• Personal income tax
• Companies income tax
• Value Added Tax (VAT)
• Capital gains tax
• Education tax
• Withholding tax
• Petroleum profits tax (introductory level)
• Tax computations and planning basics

Tip: After topic practice, do mixed sets under time pressure and review missed questions immediately.

What you will practice:

Develop advanced management accounting and performance measurement skills for planning, control, and strategic decisions.

• Advanced budgeting techniques
• Standard costing and advanced variance analysis
• Responsibility accounting
• Divisional performance measurement
• Transfer pricing
• Strategic management accounting
• Pricing decisions
• Quantitative techniques (linear programming, decision trees)
• Balanced scorecard

Tip: After topic practice, do mixed sets under time pressure and review missed questions immediately.

What you will practice:

Learn the audit process end-to-end, ethics, assurance engagements, and the fundamentals of forensic accounting and fraud work.

• Audit framework and regulatory environment
• Audit planning and risk assessment
• Internal control systems
• Audit evidence and procedures
• Completion and reporting
• Professional ethics
• Assurance engagements
• Forensic accounting fundamentals
• Fraud detection and prevention

Tip: After topic practice, do mixed sets under time pressure and review missed questions immediately.

What you will practice:

Understand public sector financial management, IPSAS-based accounting, budgeting, and accountability in government.

• Public sector financial management framework
• IPSAS-based accounting
• Government budgeting systems
• Revenue generation and control
• Public expenditure management
• Treasury operations
• Public procurement
• Accountability and transparency
• Performance measurement in government

Tip: After topic practice, do mixed sets under time pressure and review missed questions immediately.

What you will practice:

Cover financial objectives, investment and financing decisions, and the risk-return concepts that underpin corporate finance.

• Financial objectives and strategy
• Investment appraisal techniques
• Working capital management
• Sources of finance
• Cost of capital
• Capital structure theories
• Dividend policy
• Risk management
• Business valuation fundamentals

Tip: After topic practice, do mixed sets under time pressure and review missed questions immediately.

What you will practice:

Tackle advanced IFRS applications, complex groups, and professional judgment in high-stakes reporting and analysis.

• Advanced IFRS applications
• Group restructuring and complex consolidations
• Financial instruments (advanced)
• Sustainability and integrated reporting
• Professional judgment in financial reporting
• Critical evaluation of financial statements
• Ethical issues in reporting

Tip: After topic practice, do mixed sets under time pressure and review missed questions immediately.

What you will practice:

Develop strategic tax advisory capability, including complex corporate planning, international issues, and petroleum profits tax.

• Advanced corporate tax planning
• International taxation principles
• Transfer pricing
• Petroleum profits tax
• Capital allowance planning
• Tax avoidance vs tax evasion
• Tax implications of business reorganizations
• Strategic tax advisory

Tip: After topic practice, do mixed sets under time pressure and review missed questions immediately.

What you will practice:

Move to strategic finance: valuation, M&A, treasury, and financial risk management in domestic and international contexts.

• Advanced investment appraisal
• Mergers and acquisitions
• Corporate restructuring
• Advanced business valuation
• Financial risk management
• Treasury management
• International finance
• Strategic financing decisions

Tip: After topic practice, do mixed sets under time pressure and review missed questions immediately.

What you will practice:

Apply advanced audit planning and judgment, handle group audits and quality control, and conduct higher-level forensic investigations.

• Advanced audit planning
• Professional judgment in assurance engagements
• Group audits
• Quality control and practice management
• Advanced forensic investigations
• Litigation support
• Regulatory compliance
• Ethical dilemmas in audit practice

Tip: After topic practice, do mixed sets under time pressure and review missed questions immediately.

What you will practice:

An integrated paper drawing from all professional subjects, focused on real-world analysis, judgment, and advisory report writing.

• Strategic analysis of business scenarios
• Financial evaluation
• Risk assessment
• Governance and ethics
• Tax implications
• Performance improvement recommendations
• Professional report writing
• Advisory and decision-making skills

Tip: After topic practice, do mixed sets under time pressure and review missed questions immediately.