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CAF 5 – Financial Accounting and Reporting – I (Regular/Sept 2021)

By Hasnain R. Badami
Financial Accounting and Reporting – I (CAF-5) paper is one of the building block of Chartered Accountancy qualification. Beside its importance from exam view point, Accounting is very much related to practical life.


In order to conquer the ICAP’s examination, students need a detailed analytical approach to master the basic concepts. Financial Reporting is a subject that requires deep understanding of IFRS and its applications. This course is designed in a way that will equip the students with the right skillset to develop deep understanding and enhance their analytical skills.


1. Comprehensive syllabus coverage.
2. Discussion on tips & tricks to attempt the exam efficiently.
3. Detailed full length mock test with past paper coverage.
4. Live communication on WhatsApp groups to address queries/questions.
5. Special assistance available on the day before final exam.



Hasnain R. Badami

Hasnain Raza Badami is a qualified Chartered Accountant with cumulative experience of 11+ years in the profession. He also holds a master’s degree in Philosophy – with critical thinking as his area of research interest. His particularly versatile academic background from humanities and business is what makes his classrooms a thoroughly intriguing experience.

Hasnain believes in learning through experience and stories. His real life stories come from his equally diverse experience working in large local and multinational organisations, as well as from training professionals, teachers, and students. More specifically, he has worked with Ernst & Young (Karachi, Dubai and Jeddah offices) and also with Internal Audit function at Engro Polymer before he finally quit Engro to pursue his passion for learning and development work. Presently, he is the co-founder and Director of Ingenium Business solutions that is working in leadership, finance, and digital learning space.


Preparation of financial statements in accordance with IFRS and its interpretation

  • IAS 1 Preparation of financial statements (preparation of statement of changes in equity only)
  • IAS 7 Preparation of statement of cash flows (other than consolidated statement of cash flow)
  • Interpretation of financial statements and ratio analysis including limitations of financial statement and ratio analysis

Preparation of income & expenditure account, accounts from incomplete records and manufacturing account

  • Accounting for non-profit organization / Income and expenditure account
  • Preparation of accounts from incomplete records
  • Maintenance of factory ledger and related accounting entries and preparation of manufacturing account.

Other areas of IFRS

  • The conceptual framework for financial reporting
    · Recognition and measurement of the elements of financial statements
    · Concepts of capital and capital maintenance
  • IAS 16 Property, plant and equipment (revaluation and disclosure)
  • IAS 20 Accounting for government grants and disclosure of government
  • IAS 23 Borrowing Costs
  • IAS 36 Impairment of Assets (other than cash-generating units CGU)
  • IAS 40 Investment Property (other than lease issues)
  • IFRS 15 Revenue from Contracts with Customers