I made this cake for a friend who was graduating with her Ph.D. The dissertation is actually made of cardboard because didn't need very much cake. I covered it with fondant and painted the words on it with gold luster dust dissolved in clear alcohol. The cap is made by carving an 8-inch cake into a slight cone shape (with no peak) and covering with with chocolate fondant. I topped it with a piece of cardboard covered in black fondant for the mortarboard.