Katamarino
As your first action, do you:
- Declare an emergency?
- Turn off the master switch?
My initial instict was to immediately turn off
the master.
Why turn off the master switch????
Aviate, Navigate, Communicate.
If you have them, don oxy mask and smoke goggles, then determine which system is on fire by isolating systems using the circuit breakers, I am assuming you are flying a light aircraft so there shouldn't be to many systems that would cause an electrical fire, if the aircraft is larger with more complex electrical systems then follow the initial memory items if any, then the checklist.
For example the type I operate has a 6 page checklist for this senario that eventually turns off all electrical systems except for standby instruments then re-instates systems to determine what is causing the fire.
Of course the senario out come is also determined by where you are at the time of the fire, over a remote area or nearby airports etc etc.