Overview
PRC-1 tests the double-entry foundations that CAF-1 builds on: recording transactions, period-end adjustments, preparing basic financial statements, and depreciation and inventories.
Because the exam is computer-based, the best preparation is timed MCQ practice plus one run-through of ICAP's model paper in the official software so the interface is familiar on the day.
Computer-based exam in ICAP's examination software
Worth knowing
- ICAP's PRC model papers run inside its examination software, reached from the student secured area (CRN login). There are no public PDF papers to index, so this page lists the official access route and the syllabus weightings instead of a topical index.
Syllabus weightings
Weightings from ICAP's published syllabus.
| Section | Syllabus weight |
|---|---|
| A. Recording financial information | 20–30% |
| B. Adjustments in the recorded information | 25–35% |
| C. Preparing financial statements | 20–30% |
| D. Accounting for depreciation and inventories | 15–25% |
PRC-1 chapter MCQs
Free MCQs with explanations for every area in the index.