CS Executive Corporate Accounting & Financial Management (CAFM | CA & FM) | CRACKER

Corporate Accounting & Financial Management – CRACKER is a pure question-and-answer practice manual for Paper 4 of the CS-Executive Programme, built entirely from past examination questions and their fully worked solutions across both halves of the paper—Corporate Accounting and Financial Management. Theory answers are set out point-by-point; numericals are solved end-to-end with journal entries, ledger accounts, working notes, Schedule III balance-sheet formats, cash budgets, and the relevant financial-management formulae. Wrapped around the question bank are three planning tools—a marks-distribution chart, a question-level trend analysis, and a Study Material map — that let a student see where the marks fall before deciding where to spend revision time. It is a practice-and-revise companion, not a textbook.

The Present Publication is the 7th Edition | June 2026, authored by CS N.S. Zad, with the following noteworthy features:

• [Fully Solved Past-Exam Questions] Solved as per the latest examination pattern—every question carries a complete, examiner-style model answer
• [Topic-wise Arrangement of Questions] Past exam questions are filed under their own chapter (till the June 2026 Exam) rather than scattered across papers; the bank reaches back as far as 1999, so long-recurring questions sit beside the most recent papers
• [Chapter-wise Marks Distribution Chart] Covers all eleven exam sessions from June 2021 to June 2026, with a per-chapter average across those sessions to direct effort to the highest-yield topics
• [Chapter-wise Trend Analysis] Maps each question of the recent sessions (Dec. 2023 – June 2026) by chapter and marks, classifying it as Practical or Descriptive
• [Chapter-wise Study Material Comparison] Aligns every chapter to its corresponding Study Material chapter
• [Updated for the Companies Act 2013] Reflects the Act's provisions throughout, with the Accounting Standards chapter grounded in the Companies (Accounting Standards) Rules 2021 (SMC definition, applicability and exemptions)
• [Session & Marks Tagging] Every question carries its exam session and marks (e.g. [Dec. 2025 (5 Marks)]); where a concept has been examined across several sittings, it is consolidated under one answer with all the session tags (and 'Or'-linked phrasings)
• [Fully Worked Numerical Solutions] Journal entries (Dr./Cr.), ledger accounts, step-by-step computation tables, working notes, and balance-sheet and cash-budget formats on the accounting side; proforma statements with the relevant formulae (EVA, cost of capital, leverage, CAPM, project ranking) on the financial-management side
• [Structured Theory Answers] Point-wise notes, 'distinguish between' comparison tables, and provision-based explanations

The book follows the prescribed syllabus across two parts and nineteen chapters, with the heavier chapters further divided into Units.

• Part I – Corporate Accounting (Ch. 1–10):
• Introduction to Accounting
• Introduction to Corporate Accounting
• Accounting Standards (per the AS Rules, 2021)
• Accounting for Share Capital—five Units
• Issue of Equity Shares; Sweat Equity Shares; Issue & Redemption of Preference Shares; Right Issue & Issue of Bonus Shares; Underwriting
• Accounting for Debentures
• Related Aspects of Company Accounts—three Units
• Shares with Differential Rights; Buy-back of Shares; Employees Share-Based Benefits
• Consolidation of Accounts
• Financial Statement Analysis
• Cash Flow Statement
• Forecasting Financial Statements
• Part II – Financial Management (Ch. 11–19):
• Introduction to Financial Management
• Time Value of Money
• Capital Budgeting
• Cost of Capital
• Capital Structure & Leverages—two Units
• Capital Structure Decisions; Leverages
• Dividend Decisions
• Working Capital Management—four Units
• Working Capital Management; Management of Cash; Inventory Management; Receivable Management
• Security Analysis
• Operational Approach to Financial Decision
• Highest-Weightage Chapters:
• The chapters carrying the heaviest historical weight—Accounting for Share Capital, Working Capital Management, Capital Budgeting, Financial Statement Analysis, Capital Structure & Leverages, and Security Analysis—receive correspondingly deep question coverage

The internal structure follows a strict exam-logic architecture:

• Revision-Planning Tools — Opens with three planning aids—the Chapter-wise Marks Distribution chart, the Previous Exams Trend Analysis, and the Chapter-wise Comparison with Study Material—so a student can prioritise before opening any chapter
• Syllabus Order — Runs through all nineteen chapters across the two parts in syllabus sequence
• Unit Subdivision — The larger chapters are split into Units, so a sub-topic (e.g. underwriting, receivable management) can be practised as a self-contained block
• Within Each Chapter or Unit — Theory questions appear first under a "Theoretical Questions" heading, followed by fully worked numericals presented sequentially as 'Problem No. …', each tagged with its session and marks
• Solved Paper — Ends with the Solved Paper: June 2026 (Suggested Answers)—a complete worked answer set running to 30 pages spanning both parts (ledgers, consolidation and underwriting on the accounting side; ranking, cost of capital, leverage and dividend on the FM side) as a full specimen of a current paper

About the Author

N.S. Zad

N.S. Zad obtained his Commerce degree from Shivaji University, Kolhapur, and cleared the CS Final Exam in June 2005, conducted by the Institute of Company Secretaries of India. He has been teaching for the last ten years and has extensive teaching experience in various professional courses, including CA, CS, and CWA, at the IPCC/Executive and Final Levels. He has practical experience working with medium and large-sized organisations and firms of practising company secretaries.

He has written the following books, which TAXMANN publishes:

• CRACKERS for all subjects of the CS Executive Examination
• MCQs on Financial & Strategic Management Accounting for CS Executive
• Securities Laws & Capital Market for CS Executive