CMA Final Paper 20A case studies

CMA Final Paper 20A · Put your knowledge to work in context.

CMA Final Paper 20A is a descriptive, written-answer paper within the final level of the Cost and Management Accountancy qualification. It is aimed at candidates who have already completed the intermediate/executive stages and are moving into senior finance roles - financial controller, business partner, treasury or strategy positions - where judgement matters more than recall. The CMA Final Paper 20A case studies are 5 cases and about 5,275 words.

Sundaram Auto Components: Transfer Price, Spare Capacity and a Competing Export Enquiry

Sundaram Auto Components Ltd runs two divisions. The Components Division can machine 90,000 sensor housings a year; it currently sells 72,000 units externally at ₹2,600 each, with variable cost of ₹1,780 and fixed overhead of ₹7.2 crore absorbed at normal capacity.

997 words, about 5 min 2

Nirvaan Infra Tech: Variable Consideration, Loss-Making Contract and a Covenant Under Pressure

Nirvaan Infra Tech Ltd won a ₹1,250 crore fixed-price contract from a State discom in April 2024 to supply, install and maintain 4.2 million smart meters over three years, with operation and maintenance for a further five years. Thirty per cent of the price (₹375 crore) is payable only if metering uptime averages 98.5% each year; the group's two comparable contracts achieved 97.2% and 99.1%.

1,024 words, about 5 min 3

Deccan Ceramics: Project-Specific Discount Rate, Customer Concentration and a Phase II Option

Deccan Ceramics Ltd is appraising a greenfield vitrified-tile plant. The CFO's model shows an outlay of ₹258 crore at year 0 - including ₹18 crore for emission-control equipment required by a consent condition - and level free cash flow of ₹59.6 crore in each of years 1 to 8, with no terminal value.

987 words, about 5 min 4

Anandit Foods: MSME Dues, TDS Defaults and a Rule 37A ITC Reversal

Anandit Foods Pvt Ltd (turnover ₹410 crore for FY 2024-25) is finalising its first return under scrutiny. Three issues have emerged.

1,102 words, about 6 min 5

Kaveri Agri Fresh: Vendor Fraud, CFO Override and the IFC Reporting Chain

Kaveri Agri Fresh Ltd is a listed company with ₹840 crore revenue operating 14 cold-chain depots. Internal audit for FY 2024-25 reports: (i) a depot manager approved 11 purchase orders and released payments of ₹3.7 crore to a proprietorship registered at his brother-in-law's address; (ii) the vendor bank-account master was amended 42 times after payment runs, all by one accounts executive, with no second approval; (iii) shrinkage at two depots was 3.8% of throughput against a 1.2% norm, while spoilage at the same depots was recorded as 'transit loss' and billed to insurers; (iv) the CFO approved ₹2.6 crore of purchases without three-way matching, citing harvest-season urgency; (v) whistleblower complaints are routed to the CFO, who closed all four received last year.

1,165 words, about 6 min