Accounting (Accounts) | CRACKER

Accounting – CRACKER is a book of questions and answers. That is all it is. There is no theory to read and no notes to revise. Every page carries either a question or the answer to one.

The book holds 739 questions across 23 chapters, and each one is printed with its full answer worked out.

The questions come from four places, and the book tells you where each one came from. Most are from past CA Foundation papers, tagged with the sitting and the marks. Others are from the Revision Test Papers and Mock Test Papers that ICAI puts out. A few are from CA Intermediate papers, used on chapters the two courses share. The rest, roughly four in ten, were written by the authors to cover ground the other three leave thin.

The answers are written the way an answer should look on paper. Practical answers are set out as proper accounts and statements, with the workings shown below them. Theory answers state the point first and then explain it. True or false answers say True or False, then give the reason.

The book ends with the September 2026 paper, printed in full with answers.

The Present Publication is the 18th Edition, authored by Dr S.K. Agrawal & CA. Manmeet Kaur, with the following noteworthy features:

• Every Question is Answered: Not one question is left for you to work out on your own
• Each Question Carries its Source: The sitting and the marks, or the RTP or MTP it came from, are printed at the end of the question
• Repeats are Printed Once: When a question has come up more than once, the book prints it a single time and lists every place it appeared
• Changed Questions are Marked: Where the authors have reworked a question or altered its figures, the tag says so
• Extra Questions from the Authors: Around four in ten questions are the authors' own, added where the past papers do not give enough practice
• Workings Shown Separately: Figures that need to be arrived at are cross-referred to numbered working notes set out below the answer
• Notes on the Answers: Many solutions carry a short note saying why an item was left out or how something was treated
• Second Method Given Where One Exists: Where more than one presentation is acceptable, the book shows the other one too
• Assumptions Written Down: Where a question is silent or incomplete, the book says what it has assumed
• Proper Formats Throughout: Journals, ledgers, cash books, trial balances, trading and profit and loss accounts, balance sheets and the rest are all drawn out in full
• Marks Distribution Chart: A chart at the front shows what was asked from each chapter in the last ten sittings, and whether it was a practical, theory or true or false question
• Mapped to the ICAI Study Material: A table matches every chapter of this book to its chapter and unit in the ICAI module
• September 2026 Paper Solved in Full: The whole paper is given at the end with answers to every part

The book spans all 23 chapters of the CA Foundation Accounting syllabus:

• Meaning & Scope of Accounting
• Accounting Concepts, Principles & Conventions
• Accounting Standards
• Accounting Policies
• Accounting as a Measurement Discipline: Valuation Principles, Accounting Estimates
• Capital and Revenue Expenditure
• Contingent Assets and Contingent Liabilities
• Accounting Process (Journal, Ledger, Trial Balance, Cash Book, Subsidiary Books)
• Bank Reconciliation Statement
• Bills of Exchange
• Rectification of Errors
• Inventory Valuation
• Depreciation
• Final Accounts
• Partnership
• Accounting from Incomplete Records
• Not for Profit Organization
• Shares
• Debentures
• Financial Statement of Companies [Schedule III]
• Accounting for Bonus Issue & Right Issue
• Redemption of Preference Shares
• Redemption of Debentures

The book follows a strictly exam-aligned architecture:

• Chapter Opening: Each chapter opens with a panel carrying the chapter number and the chapter name
• Questions Grouped by Type: The questions follow in fixed groups, each under its own shaded heading: Descriptive Questions, Short Notes, Differences, True or False, and Practical Questions. A chapter takes only the groups it needs
• How a Question is Set: Questions are numbered from Q.1 and set in bold on a shaded panel, with the source in brackets at the end. If the same question has been asked in different words, the second wording is printed below the first under the word OR. Data given with the question, such as a trial balance, is shown as a proper table inside the panel
• Theory Answers: These begin with "Ans." and a heading, then run into points. True or false answers begin with "Ans. True" or "Ans. False", followed by the reason
• Practical Answers: These begin with "Solution:", then the heading line of the statement, then the ruled account or statement itself, with adjustments worked inside the columns
• Workings and Notes: Numbered working notes sit below the solution and are cross-referred from inside the account. A short note follows where one is needed