CMA Intermediate · December 2025 · Paper 6
CMA Intermediate Financial Accounting December 2025: paper analysis
Our own analysis of the official paper, as of 12 October 2026. The questions and answers belong to ICMAI; read them on ICMAI's website.
Chapter-wise marks
Where the marks were in this paper (out of 100; internal-choice alternatives not double counted).
What each question tested
In our words, by question number. Open the official paper for the full question.
| Q | Marks | Tests | Chapter |
|---|---|---|---|
| 2(a) | 7 | Amending the cash book for bank-side items and preparing a bank reconciliation statement | Accounting Fundamentals |
| 2(b) | 7 | Classifying factory-related expenditures as capital or revenue with reasons | Accounting Fundamentals |
| 3(a) | 7 | Memorandum joint venture account and co-venturer's account for a share underwriting venture | Joint Venture |
| 3(b) | 7 | Sale and leaseback accounting under AS 19 for different fair value and sale price combinations | Lease Accounting |
| 4(a) | 7 | Income and expenditure account of a clinic from receipts and payments with subscription and stock adjustments | Financial Statements of Not-for-Profit Organisations |
| 4(b) | 7 | Trading, profit and loss account and balance sheet from single entry records using gross profit ratio | Financial Statements from Incomplete Records |
| 5 | 14 | Admission of a partner who cannot bring goodwill premium: revaluation, current accounts and capital adjustment | Admission of Partner |
| 6(a) | 7 | Branch account under the debtors system with cash sales, estimated closing stock and manager's commission | Branch (including Foreign Branch) and Departmental Accounts |
| 6(b) | 7 | Loss of profit insurance claim with trend adjustment, increased working cost and average clause | Insurance Claim for Loss of Stock and Loss of Profit |
| 7(a) | 7 | Capitalisation of machinery costs and treatment of pre-opening renovation costs under AS 10 | Property, Plant and Equipment (AS 10) |
| 7(b) | 7 | Borrowing costs on a foreign currency loan and on a loan used partly for qualifying assets under AS 16 | Borrowing Costs (AS 16) |
| 8(a) | 5 | Whether a change in the basis of inventory provisioning is a change in accounting policy under AS 1 | Disclosure of Accounting Policies (AS 1) |
| 8(b) | 5 | Correcting the treatment of a part-exchange of plant passed through the purchase book | Final Accounts of Commercial Organisations |
| 8(c) | 4 | Reconstructing an opening balance sheet and capital accounts on dissolution of a firm | Dissolution of Partnership Firms including Piecemeal Distribution |
What stood out
- Partnership accounting carried the only 14-mark question (admission with goodwill adjusted through current accounts) plus a 4-mark dissolution part.
- Accounting standards took about a fifth of Section B: AS 19 sale and leaseback, AS 10 capitalisation, AS 16 borrowing costs and AS 1 policy changes.
- Insurance claims shifted from loss of stock to a loss of profit claim with average clause, a less frequently practised variant.
- Most written parts were numerical, but the capital versus revenue classification and the AS 1 discussion offered short theory marks.
- The MCQ section put four questions on accounting fundamentals and books of original entry, rewarding strong basics.
Practise the chapters that carried the marks
Accounting Fundamentals, Admission of Partner, Joint Venture: study guides and practice questions in the CMA Intermediate format.