Taxmann Cracker - Fundamentals of Financial and Cost Accounting Book for CMA Foundation by Tarun Agarwal

This book caters specifically to the requirements of the Foundation Level Cost & Management Accountancy Examination, offering a thorough collection of past exam questions with detailed answers, all aligned with the latest ICMAI syllabus.

The Present Publication is the 3^rd Edition for the CMA Foundation | Dec. 2025/June 2026 Exams. This book is authored by CA. Tarun Agarwal, with the following noteworthy features:

• [Aligned with the Latest ICMAI Syllabus] Complete adherence to the current curriculum
• [Comprehensive Content]
• Fully Solved Past Examination Questions till June 2025
• Tabular summaries at the start of each chapter
• 1100+ MCQs
• Practice questions at the end of every chapter for in-depth preparation.
• Descriptive past exam questions transformed into MCQs, reflecting the latest exam pattern
• [Detailed & Structured Answers] Designed to enhance conceptual clarity and support exam-focused study
• [Point-wise Presentation] Facilitates quick recall and efficient revision
• [Marks Distribution Analysis] Provides module-wise marks analysis from June 2023 onwards
• [Comparison with ICMAI's Study Material] is provided module-wise

The contents of this book are as follows:

• Accounting Fundamentals
• Understanding of Four Frameworks of Accounting and Forms of Organisation
• Accounting Principles, Concepts and Conventions
• Capital and Revenue Transactions
• Accounting Cycle
• Journal and Ledger
• Cashbook and Bank Reconciliation Statement
• Trial Balance
• Adjustment Entries and Rectification of Errors
• Depreciation
• Accounting Treatment of Bad Debts and Provision for Doubtful Debts
• Accounting for Special Transactions
• Consignment
• Joint Venture
• Bills of Exchange
• Preparation of Final Accounts
• Preparation of Financial Statements of Sole Proprietorship
• Preparation of Financial Statements of a Not-for-profit Organisation
• Fundamentals of Cost Accounting
• Meaning, Definition, Significance of Cost Accounting, its Relationship with Financial Accounting
• Application of Cost Accounting for Business Decisions
• Definition of Cost, Cost Centre, Cost Unit and Cost Drivers
• Classification of Costs
• Ascertainment of Cost and Preparation of Statement of Cost and Profit (Cost Sheet)