CMA Inter Paper 10 case studies
CMA Inter Paper 10 · Put your knowledge to work in context.
CMA Intermediate Paper 10: Corporate Accounting and Auditing is one of the papers at the Intermediate level of the Cost and Management Accountancy qualification offered by the Institute of Cost Accountants of India (ICMAI). It is aimed at candidates who have completed the CMA Foundation or hold an accepted exemption, and who are building the accounting and assurance base needed for the Final level and for roles in corporate finance, controllership and statutory audit support. The CMA Inter Paper 10 case studies are 5 cases and about 2,442 words.
1Buy-back Approvals and Debt-Equity Ceiling
Sunrise Infra Ltd has paid-up equity share capital of ₹1,00,00,000 divided into 10,00,000 shares of ₹10 each, free reserves of ₹80,00,000 and securities premium of ₹20,00,000. Its borrowings are ₹3,00,00,000.
539 words, about 3 min2Debenture Redemption Reserve and Specified-Securities Investment
Zenith Chemicals Ltd issued 30,000 9% debentures of ₹100 each on 1 April 2022 at a discount of 5%. The debentures are redeemable at a premium of 10% in three equal annual instalments on 31 March 2025, 2026 and 2027.
492 words, about 2 min3Amalgamation in the Nature of Merger versus Purchase
On 1 April 2024, Apex Ltd absorbed Beta Ltd. Beta Ltd had 2,00,000 equity shares of ₹10 each, general reserve ₹6,00,000 and profit and loss account ₹4,00,000.
462 words, about 2 min4Goodwill, NCI and Unrealised Profit in Consolidation
P Ltd acquired 75% of the equity shares of S Ltd on 1 April 2023 for ₹15 crore. On that date, S Ltd's share capital was ₹10 crore and retained earnings were ₹4 crore; the fair value of its identifiable net assets equaled book value.
459 words, about 2 min5Audit Opinion with Misstatements, Going Concern and Scope Limitation
During the audit of Meridian Auto Components Ltd for the year ended 31 March 2024, the auditor notes the following. Trade receivables include ₹4.5 crore from a customer that filed an insolvency petition in April 2024; management has made no provision and says the customer's assets are adequate.
490 words, about 2 min