CMA Inter Paper 11 (FMDA) study plan

Compute NPV, IRR, discounted payback and profitability index for a five-year project with tax and written-down-value depreciation, working from a blank sheet with no formula notes.

Build incremental project cash flows that correctly exclude sunk costs and allocated overhead while including opportunity cost, working capital changes and terminal salvage value net of tax.

Rank two mutually exclusive projects of unequal life using equivalent annual annuity, and justify the ranking conflict between NPV and IRR.

Solve a single-period capital rationing problem by ranking on profitability index and testing the best two-project combination against the budget cap.

Run a sensitivity check on the decision variables (selling price, variable cost, discount rate) and state which variable the accept/reject verdict is most fragile to.

Calculate the full ratio set (liquidity, solvency, activity, profitability) from a balance sheet and profit and loss account in under 30 minutes.

Decompose return on equity using the three-factor DuPont identity and name the single driver that caused the year-on-year change.

Prepare common-size and comparative statements for a two-year dataset and highlight the three largest structural shifts.

Interpret a ratio pack to diagnose overtrading, window dressing and early distress signals, citing the specific ratios that trigger each flag.

Reconstruct a cash flow statement from two balance sheets and a profit and loss account, reconciling the closing cash balance.

Compute cost of equity under CAPM and under the dividend growth model, then reconcile any gap by identifying which assumption drives it.

Calculate WACC on book weights and market weights, and separately compute the marginal cost of new equity after floatation costs.

Derive degree of operating leverage, degree of financial leverage and degree of combined leverage from a given cost structure and explain what each number means for risk.

Compute the EBIT-EPS indifference point for an all-equity versus a debt-financed plan and state which plan wins above and below that EBIT.

Assess how stepping up the debt ratio moves WACC and firm value under the net income, traditional and Modigliani-Miller views.

Estimate the working capital requirement of a manufacturing firm using the operating cycle approach, covering raw material, work-in-progress, finished goods, debtors and creditors.

Compute the cash conversion cycle and quantify in rupees the funds released by cutting inventory days and debtor days by a stated number of days each.

Evaluate a proposed relaxation of credit terms by comparing incremental contribution against the incremental cost of investment in receivables.

Compare the effective annual cost of an overdraft, a commercial paper issue and a factoring arrangement, including discount and commission charges.

Classify current assets into permanent and temporary components and match each to an appropriate financing strategy (matching, conservative, aggressive).

Contrast profit maximisation with shareholder wealth maximisation and defend the wealth objective against agency, stakeholder and short-termism objections.

Map the investment, financing and dividend decisions to their specific syllabus areas and state the primary risk each decision manages.

Compare equity, preference capital, debentures, term loans, leases and hybrid instruments on cost, dilution, security, covenants and tax treatment.

Evaluate a lease-versus-buy decision for a given asset using after-tax cash flows and the appropriate discount rate.

Explain the role of SEBI and the regulatory framework in shaping a firm's financing choices.

Apply Walter's and Gordon's models to compute share price for two different payout ratios and explain why the answers diverge.

Contrast the Modigliani-Miller dividend irrelevance argument with the traditional view and list the assumptions that make irrelevance fail in practice.

Screen a firm's dividend decision against legality, liquidity, debt covenants, signalling and clientele effects, and recommend a payout.

Distinguish descriptive, diagnostic, predictive and prescriptive analytics and attach one concrete finance use case to each.

Map the stages of a standard analytics project lifecycle onto a receivables-analytics initiative, naming the deliverable produced at each stage.

Classify data as structured, semi-structured or unstructured, and identify nominal, ordinal, interval and ratio scales with a finance example of each.

Select an appropriate collection method for a stated question and detect bias, missing values, duplicates and outliers in a messy dataset.

Compute and interpret mean, median, mode, range, variance, standard deviation, quartiles and skewness, and state when the median is the better measure.

Build a pivot table, a lookup formula and three chart types in a spreadsheet, and write equivalent Python using pandas to load, clean, group and summarise a CSV file.

Choose the correct chart for a given question (comparison, distribution, trend, relationship) and flag misleading axis or scale choices.

Apply analytics to financial statement analysis, credit scoring, fraud detection, working capital forecasting and customer segmentation, naming one limitation of each application.

Match emerging areas - machine learning, robotic process automation, blockchain, big data and text analytics - to the specific finance process each is most likely to transform.

Evaluate data governance, privacy, bias and confidentiality risks in an analytics project and propose two controls for each.

Re-attempt every previously wrong question from weeks 1 to 7 and record the underlying rule that fixes each error.

Sit two full-length timed mock papers under exam conditions and allocate remaining time by weakest domain weight.