Taxmann’s CRACKER for Fundamentals of Financial & Cost Accounting (CMA-Foundation | Paper 2) is purpose-designed for the way the Foundation examination is actually conducted today: a fully objective, 100% MCQ paper. Rather than functioning as a bulky textbook, this 5th Edition (June 2026) distills each topic into a crisp concept recap and drills it through a massive, exam-realistic bank of multiple-choice questions. It instantly converts conceptual understanding into the speed and accuracy the objective format rewards.

Key Exam Preparation Features

• 1200+ MCQs with Practice Questions: A massive chapter-wise bank combining genuine past-exam questions (tagged from 2014 to June 2026) with additional practice sets to build objective-test fluency.

• Descriptive Questions Recast as MCQs: Valuable older questions originally set in descriptive form have been expertly re-cast into the current objective format, ensuring no legacy material is wasted.

• Module-wise Marks Distribution: A front-matter analysis maps exactly how marks have been spread across modules (2023–2026 averages), letting you prioritize effort by weightage instead of guessing.

• Tabular Chapter Summaries: Every chapter opens with a fast, scannable ‘Quick Revision’ tool—ideal for last-minute recall before walking into the exam hall.

• Four Latest Solved Papers: Features complete, timed-practice papers for Dec 2024, June 2025, Dec 2025, and June 2026 with suggested answers.

Complete Syllabus Coverage (Paper 2)

The book perfectly mirrors the ICMAI syllabus structure across four modules and 20 chapters:

• Module 1: Accounting Fundamentals (10 Chapters)

  • Builds your core bookkeeping foundation: Journal, Ledger, Cashbook, BRS, Trial Balance, Depreciation, Adjustment Entries, and Bad Debts.

• Module 2: Accounting for Special Transactions (3 Chapters)

  • Master the reliable, high-frequency exam topics: Consignment, Joint Venture, and Bills of Exchange.

• Module 3: Preparation of Final Accounts (2 Chapters)

  • The numerical, high-weight heart of financial accounting: Financial Statements of Sole Proprietorships and Not-for-Profit Organisations (NPOs).

• Module 4: Fundamentals of Cost Accounting (5 Chapters)

  • Cost center/unit definitions, classification of costs, cost drivers, and the preparation of the Cost Sheet.

About the Author: CA Tarun Agarwal

CA Tarun Ramgopal Agarwal is a distinguished All-India Rank Holder at all levels of the Chartered Accountancy exams and a Gold Medalist in Financial Reporting. Holding multiple qualifications (CA, CS, LL.B., CFA, FRM), he is the founder of Simply Shiksha Coaching Institute in Surat. With over a decade of teaching experience, he has mentored more than 25 AIR holders in CMA studies and authored numerous best-selling CRACKER titles.