Book Type: CMA Final Paper 20A Strategic Performance Management and Business Valuation – CRACKER (Previous Exams Solved Papers)
Syllabus: ICMAI Syllabus 2022
Edition: 3rd Edition | June 2026
Authors: CA. Tarun Agarwal & CA. Leena Lalit Parakh
Weightage: Section A – Strategic Performance Management (50%) & Section B – Business Valuation (50%)
Key Highlights:
- Fully solved past-exam questions from 2015 to June 2026 with complete model-style suggested answers
- Every question tagged with its examination session and marks, with repeated questions identified through Similar Question references
- Module-wise marks distribution and previous exams trend analysis covering recent examinations from 2023 to 2026
- Question-by-question trend analysis showing compulsory questions, chapters tested, marks and Theory/Practical classification
- A Quick Review at the beginning of every chapter covering key concepts, frameworks and formulae
- Step-by-step solutions for numerical problems with detailed working notes and supporting computations
- Module-wise comparison with the ICMAI Study Material for complete syllabus mapping
- Module-wise solved papers for December 2025 and June 2026 with suggested answers and chapter references
Content Coverage:
- Section A – Strategic Performance Management
- Module 1 – Introduction to Performance Management
- Performance, Productivity and Efficiency
- Financial Performance Analysis
- Procurement-to-Pay and Vendor Relationship Management
- Supply Chain Management
- Reverse Mapping of Business Strategies Using Data Analytics
- Order-to-Cash and Customer Relationship Management
- Customer Profitability Analysis
- Improvement of Corporate Credit Rating Score
- Module 2 – Performance Management, Evaluation and Improvement Tools
- Balanced Scorecard
- Du-Pont Analysis and RONA Model
- Benchmarking and Bench Trending
- Six Sigma and Lean Management
- Statistical Quality Control (SQC)
- Plan-Do-Check-Action (PDCA)
- MIS in a Digital Environment
- Total Productive Maintenance
- Total Quality Management
- Data Envelopment Analysis (DEA)
- Module 3 – Economic Efficiency of the Firm
- Economic Performance Indicators
- Profit Optimisation under Different Market Structures
- Market Factors Affecting Pricing Decisions
- Module 4 – Enterprise Risk Management
- Risk Management
- Corporate Risk Management
- Corporate Failure including Altman Z-Score and Discriminant Analysis
- Section B – Business Valuation
- Module 5 – Fundamentals of Business Valuation
- Valuation Concepts, Enterprise Value and Leverages
- Dividend and Gordon Growth Models
- Cost of Equity, CAPM and WACC
- Module 6 – Laws and Compliance in Business Valuation
- Insolvency and Bankruptcy Code, 2016
- Fair Value and Orderly Transaction Concepts
- Regulatory Framework
- Module 7 – Business Valuation Methods and Approaches
- Discounted Cash Flow (DCF)
- FCFF and FCFE
- Relative Valuation
- Beta and Equity Valuation
- Module 8 – Valuation of Assets and Liabilities
- Net Asset Value
- Intangible Assets
- Economic Value Added (EVA) and Market Value Added (MVA)
- Security and Bond Valuation
- Module 9 – Valuation in Mergers and Acquisitions
- Exchange Ratio
- EPS Impact
- Synergy
- Purchase Consideration
- Free-Float Market Capitalisation
- Types of Mergers
Book Structure:
- Strategic front matter with Module-wise Marks Distribution, Previous Exams Trend Analysis and Module-wise Comparison with the ICMAI Study Material
- Two sections following the official syllabus: Strategic Performance Management and Business Valuation
- Nine modules with chapter-wise coverage of the complete Paper 20A syllabus
- Each chapter begins with A Quick Review covering concepts, frameworks and formulae
- Past Examination Questions include objective questions, numerical problems and theory/short-note questions
- Every question is tagged with examination session and marks
- Complete model answers with step-by-step calculations and detailed working notes
- December 2025 and June 2026 papers presented as module-wise solved papers with suggested answers and relevant chapter references
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