Accountancy (AC 1221) - Grade 12
|Unit 1||Accounting for Partnership Firms-I||10||Read more|
|Unit 2||Accounting for Partnership Firms- II||10||Read more|
|Unit 3||Accounting for Shares||20||Read more|
|Unit 4||Accounting for debentures||20||Read more|
|Unit 5||Analysis of Financial Statements||20||Read more|
|Unit 6||Cash Flow Statement||20||Read more|
Accounting for Partnership Firms-I
- Partnership, partners, firm, partnership deed
- Fixed v/s fluctuating capital accounts, division of profit among partners, guarantee of profits, past adjustments (relating to interest on capital, interest on drawing, salary and profit sharing ratio), preparation of Profit & Loss Appropriation Account
- Goodwill: nature, factors affecting and methods of valuation – average profit, super profit, and capitalization
Accounting for Partnership Firms- II
- Change in the Profit Sharing Ratio After going through this Unit, the among the existing partners – students will be able to:sacrificing ratio, gaining ratio. describe the meaning of sacrificing Accounting for revaluation of assets ratio, gaining ratio and the change in and re-assessment of liabilities and profit sharing ratio among existing distribution of reserves and partners. accumulated profits on admission of a new partner.
- Admission of a partner – effect of admission of a partner: change in the profit sharing ratio, treatment of goodwill (IAS-38), treatment for revaluation of assets and re-assessment of liabilities, treatment of reserves and accumulated profit, adjustment of capital accounts and preparation of balance sheet
- Retirement and death of a partner: effect of retirement /death of a partner – change in profit sharing ratio, treatment of goodwill, treatment for revaluation of assets and re-assessment of liabilities, adjustment of accumulated profit and reserves. Calculation of deceased partner's share of profit till and capital adjustment the date of death. Preparation of deceased partner's executor's account and preparation of balance sheet.
- Dissolution of partnership firms: types of dissolution of firm. Settlement of accounts -preparation of realization account, and related accounts (excluding piecemeal distribution, sale to a company and insolvency of partner and firm).
Accounting for Shares
- Share and share capital: nature and types
- Accounting for share capital: issue and allotment of equity shares. private placement of shares. Public subscription of shares – over subscription and under subscription of shares; Issue at par and premium, calls in advance and arrears, issue of shares for consideration other than cash.
- Accounting treatment of forfeiture and re-issue.
- Disclosure of share capital in company's balance sheet.
Accounting for debentures
- Debentures: Issue of debentures at par, premium and discount. Issue of debentures for consideration other than cash, debentures as collateral security. Interest on
- Redemption of debentures.
Analysis of Financial Statements
- Financial statements of a company: balance sheet of a company in the prescribed form as per the formats and the manner as prescribed by the State).
- Financial Statement Analysis: objectives and limitations.
- Tools for Financial Statement Analysis: Inter-firm comparison, common size statements, cash flow analysis and ratio analysis.
- Accounting Ratios: objectives and classification of ratios.
- Liquidity ratios: current ratio and quick ratio.
- Solvency Ratios: Debt to Equity Ratio, Total Asset to Debt Ratio, Proprietary Ratio, Interest Coverage Ratio.
- Activity ratios: Stock Turnover Ratio, Debtors Turnover Ratio, Creditors Turnover Ratio, Working Capital Turnover Ratio.
- Profitability Ratios: Gross Profit Ratio, Operating Ratio, Net Profit Ratio and Return on Investment (ROI).
Cash Flow Statement
- Meaning, objectives and preparation (as per IAS7) (indirect Method only).
- state the meaning and objectives of cash flow statement.
- develop the understanding preparation of Cash Flow statement using in direct method as per IAS-7.