Taxmann’s Cracker – Strategic Performance Management and Business Valuation (SPMBV) (CMA-Final) (New Syllabus) by Tarun Agarwal for Dec 2026 Exams – 3rd Edition June 2026.

Taxmann’s CRACKER for Strategic Performance Management and Business Valuation (CMA-Final | Paper 20A) shifts your preparation from reading theory to practicing the exam. Aligned with the ICMAI Syllabus 2022, this 3rd Edition (June 2026) organizes the entire paper into its nine prescribed modules across two equally weighted sections. Every module is taught through a deep bank of past examination questions and fully worked model answers, mirroring exactly how the examiner frames the paper.

Key Exam Preparation Features

• Deep Bank of Past Questions: Fully solved objective questions, numerical problems, and short-note theory questions reaching back over a decade to 2015, all updated to the June 2026 attempt.

• Session & Marks Tagging: Every question carries its exam attempt(s) and mark value (e.g., [June 2017, Dec. 2023, 2 Marks]). High-frequency topics are instantly visible with ‘Similar Question’ flags.

• Detailed Working Notes: Practical questions are solved step-by-step with supporting computations, not just final figures.

• Data-Driven Preparation: The front matter equips you with a module-wise marks distribution (2023–2026) and a direct mapping to the ICMAI study material, removing any guesswork about syllabus coverage.

• Latest Solved Papers: The December 2025 and June 2026 papers are reproduced with suggested answers and re-sequenced module-wise for context-rich, full-length revision.

Complete Syllabus Coverage (Paper 20A)

The book perfectly mirrors the syllabus’s equal 50/50 weightage across nine modules:

Section A: Strategic Performance Management (50%)

• Module 1: Introduction to Performance Management (Supply chain, CRM, Data Analytics).

• Module 2: Performance Evaluation & Improvement Tools (Balanced Scorecard, Six Sigma, TQM, Du-Pont). Note: This is the highest-weighted module in the paper, averaging ~24 marks.

• Module 3: Economic Efficiency (Profit optimization, market structures).

• Module 4: Enterprise Risk Management (Corporate failure, Altman Z-score).

Section B: Business Valuation (50%)

• Module 5: Fundamentals of Valuation (Enterprise Value, Gordon growth, CAPM, WACC).

• Module 6: Laws and Compliance (IBC 2016, regulatory framework).

• Module 7 & 8: Valuation Methods and Assets/Liabilities (DCF, FCFF/FCFE, intangibles, EVA/MVA).

• Module 9: Valuation in Mergers and Acquisitions (Exchange ratio, synergy, EPS impact). Note: The highest-weighted valuation module, averaging ~21 marks.

About the Authors

• CA Tarun Agarwal: An All-India Rank Holder across all levels of CA and a Gold Medalist in Financial Reporting. He is the founder of Simply Shiksha Coaching Institute in Surat and has mentored over 25 AIR holders in CMA studies.

• CA Leena Lalit Parakh: A practicing Chartered Accountant with over 11 years of academic experience specializing in law, audit, strategic management, and economics. Renowned for her practical teaching approach, she co-mentors CMA students at all levels in Surat.

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