Advanced Accounting (Advanced Accounts) | CRACKER

Advanced Accounting | CRACKER (Previous Exams Solved Papers) is a question-centric revision and practice manual for CA-Intermediate Advanced Accounting (Group I – Paper 1), designed to move a student from standard-wise recall to full exam readiness. Part of Taxmann's CRACKER series and positioned around previous-exam solved papers, it assembles the complete examinable question universe—solved past-attempt questions, ICAI RTP/MTP questions, descriptive theory, practical problems, and a dedicated case-scenario MCQ bank—sequenced along the ICAI module structure and, within each Accounting Standard, along the AS's own paragraph order. Every question carries its source and marks tag, so practice maps directly to how the paper is set. The design goal is exhaustive coverage with no wasted repetition.

The Present Publication is the 15th Edition, authored by CA. Parveen Sharma, CA. Kapileshwar Bhalla & CA. Sunil Amlani, with the following noteworthy features:

• [Solved Past Papers (incl. May 2026)] Solved past-exam questions across recent attempts, including the latest May 2026 paper presented as a separate fully solved suggested-answers section
• [Marks Distribution & Trend Analysis] Chapter-wise marks-distribution table (May 2024 to May 2026) plus an attempt-by-attempt previous-exams trend analysis identifying high-frequency, high-mark topics
• [Study Material Mapping] Chapter-wise comparison table mapping every chapter and unit to its corresponding ICAI Study Material reference
• [RTP & MTP Coverage] Selected questions drawn from ICAI Revision Test Papers (RTPs) and Mock Test Papers (MTPs), each source-tagged
• [Para-wise Question Sequencing] Within every chapter, questions arranged sub-topic-wise in the paragraph order of the relevant Accounting Standard
• [Theory & Practical, Tagged] Theory and practical questions retained and labelled, with marks weightage and category indicated against each
• [Case-Scenario MCQ Bank] A consolidated case-scenario based Multiple Choice Question Bank for objective-format practice
• [Revision Aids in Answers] Summary tables and process flowcharts embedded within answers for fast revision

The coverage of the book is as follows:

• Foundations of Accounting Standards
• Standard-setting process, IFRS convergence, carve-outs/carve-ins, the framework for preparation and presentation of financial statements, and applicability of Accounting Standards across entity categories
• Presentation & Disclosure Standards
• AS 1 Disclosure of Accounting Policies, AS 3 Cash Flow Statements, AS 17 Segment Reporting, AS 18 Related Party Disclosures, AS 20 Earnings Per Share, AS 24 Discontinuing Operations, AS 25 Interim Financial Reporting
• Asset-Based Standards
• AS 2 Valuation of Inventories, AS 10 Property, Plant and Equipment, AS 13 Accounting for Investments, AS 16 Borrowing Costs, AS 19 Leases, AS 26 Intangible Assets, AS 28 Impairment of Assets
• Liability-Based Standards
• AS 15 Employee Benefits, AS 29 (Revised) Provisions, Contingent Liabilities and Contingent Assets
• Standards on Items Impacting Financial Statements
• AS 4 Contingencies and Events after the Balance Sheet Date, AS 5 Net Profit or Loss, Prior Period Items and Changes in Accounting Policies, AS 11 Effects of Changes in Foreign Exchange Rates, AS 22 Accounting for Taxes on Income
• Revenue Standards
• AS 7 Construction Contracts, AS 9 Revenue Recognition
• Other Standards
• AS 12 Government Grants, AS 14 Accounting for Amalgamations
• Consolidated Financial Statements
• Consolidated financial statements of group entities
• Financial Statements of Companies
• Preparation of financial statements of companies
• Buy-Back & Differential Rights
• Buy-back of securities and equity shares with differential rights
• Company Restructuring & Branches
• Amalgamation, internal reconstruction, and branch accounting

The book runs across sixteen chapters plus a solved-paper section, in three blocks:

• Accounting Standards (Chapters 1–9) opens with the foundations (introduction, conceptual framework, applicability) and then organises the standards by function—presentation/disclosure, assets, liabilities, items impacting financial statements, revenue, and others. Chapters 4 to 9 are sub-divided into Units, one per Accounting Standard, so each standard reads as a self-contained question set ordered along its own paragraph sequence
• Company & Specialised Accounting (Chapters 10–15) covers the high-weightage application areas: consolidated financial statements, financial statements of companies, buy-back and differential-rights shares, amalgamation, internal reconstruction, and branch accounting
• Objective Practice & Solved Paper (Chapter 16 onward) houses the case-scenario based Multiple Choice Question Bank—built around numbered case scenarios with linked MCQs—followed by the fully solved May 2026 paper with suggested answers as a final self-test benchmark
• Within each chapter, questions move from theory to practical, every item solved in full and tagged with source and marks