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PART A : Accounting for Partnership Firms and Companies
Unit 1 : Accounting for Partnership Firms Fundamentals
1 Partnership : features, Partnership deed.
2. Provisions of the Indian Partnership Act 1932 in the absence of partnership deed.
3. Fixed v/s fluctuating capital accounts, division of profit among partners, guarantee of profits, past, adjustment (relating to interest on capital, interest on drawing, salary and profit sharing ratio), preparation of P & L Appropriation account.
4. Goodwill : nature, factors affecting and methods of valuation average profit, super profit, and capitalization.
Unit 2 : Accounting for Partnership firms : Reconstitution and Dissolution
1 Change in the Profit sharing Ration among the existing partners sacrificing ratio, gaining ratio. Accounting for revaluation of assets and reassessment of liabilities and distribution of reserves and accumulated profits.
2. Admission of a partner effect of admission of a partner on change in the profit sharing ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and re assessment of liabilities, treatment of reserves and accumulated profits, adjustment of capital accounts and preparation of balance sheet.
3. Retirement and death of a partner : effect of retirement/death of a partner on change in profit sharing ratio, treatment of goodwill, treatment for revaluation of assets and reassessment of liabilities, adjustment of accumulated profits and reserves, calculation of deceased partner's share of profit till date of death. Preparation of deceades partner's capital account, executors's account and preparation of balance sheet.
4. Dissolution of partnership firms : types of dissolution of firm. Settlement of accountspreparation of realization account, and other related accounts (excluding piecemeal distribution, sale to a company and insolvency of partner's firm).
Unit 3 : Accounting for Share Capital
1 Share and share capital : nature and types.
2. Accounting for share capital : issues and allotment of equity shares, private placement of shares, Public subscription of shares over subscription and under subscription of shares; Issue at par and at premium and at discount, calls in advance and arrears, issue of shares for consideration other than cash.
3. Accounting treatment of forfeiture and reissue of shares.
4. Disclosure of share capital in company's Balance Sheet only.
Unit 4 : Accounting for Debentures
1 Debentures : Issue of debentures at par, at premium and at discount. Issue of debentures for consideration other than cash, debentures as collateral security, interest on debentures
2. Redemption of debentures : Lump Sum, draw of lots and conversion
PART B : Financial Statement Analysis
Unit 5 : Analysis of financial Statements
1. Financial statement of a company : balance sheet of company in the prescribed from with major headings and sub headings (as per schedule VI to the Companies Act 1956).
2. Financial Statement Analysis : objectives and limitations.
3. Tools for Financial Statement Analysis : comparative statements, common size statements, cash flow analysis ratio analysis.
4. According ratios : current ratio and quick ratio.
5. Solvency Ratios : Debt of Equity Ratio, Total Asset to Debt Ratio, Proprietary Ratio, Interest Coverage Ratio.
6. Activity ratios : Stock Turnover Ratio, Debtors Turnover Ratio, Creditors Turnover Ratio, Working Capital Turnover Ratio
7. Profitability Ratios : Gross Profit Ratio, Operating Ratio, Creditors Turnover Ratio, Working Capital Turnover Ratio.
8. Profitability Ratios : Gross Profit Ratio, Operating Ratio, Operating Profit Ratio, Net Profit Ratio and Return on Investment.
Unit 6 : Cash Flow Statement
1. Meaning objectives and preparation (as per AS 3 revised) (Indirect Method)
Unit 7 : Project Work
1. Kindly refer to the Guidlines published by the CBSE
Part C : Computerised Accounting
Unit 5 Overview of Computerised Accounting System
1. Introduction : Application in Accounting
2. Features of Computerised Accounting System
3. Structure of CAS
4. Software Packages :
1. Fundamentals of partnership 5
2. Goodwill 22
3. Change in Profit sharing ratio of existing Partness 26
4. Admission of a Partner 33
5. Retirement and Death of a Partner 52
6. Dissolution of Partnership 66
7. Company Accounts Issue of Shares 81
8. Company Accounts Issue of Debentures 101
9. Redemption of Debentures 116
10. Financial Statements & Analysis of Financial Statements 128
11. Tools of Financial Analysis Accounting Ratios 139
12. Cash Flow Statement
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