The course in accountancy is introduced at plus two stage of senior second of school education. The course put emphasis on developing basic understanding about accounting.
In the life of career, Class 12th is counted as the turning point as you choose the base field of what you want to be. Either arts or commerce or science, you choose wisely what career option can provide you the structural information about that particular faculty. Choosing commerce as a career option, you have a opportunity to go in the fields of accountancy. To study for C.A., C.S., B.com, M.com, CFA, CPA, Cost accountant, Actuary, Investment Banker, Banking, and many more. Class 11th is counted as a birth in the world of commerce, you learn like a kid, like a kid learns how to talk, eat, walk, everything is same as a class 11th student learns how to manage accounts, knowledge of business, and everything about commerce.
Units
Term 1
Marks
Part A
Accounting for Partnership Firms
1
Fundamentals
18
2
Change In Profit Sharing Ratio
3
Admission Of A Partner
1
Company Accounts: Accounting For Shares
12
Part B
Analysis of Financial Statement
Financial Statement of a Company
(i) Statement of Profit and Loss and Balance Sheet in prescribed form with major headings and sub headings (as per Schedule III to the Companies Act, 2013)
(ii) Tools of Analysis – Ratio Analysis
10
Accounting Ratios
OR
Computerized Accounting
10
Overview 0f Computerised Accounting System
Accounting Application of Electronic Spreadsheet
Total Theory
40
Project Work (Part -1)
10
Units
Term 2
Marks
Part A
Accounting for Not-For Profit Organisations
10
1
Accounting for Partnership Firm
12
2
Retirement And Death Of A Partner
3
Dissolution Of Partnership Firms
1
Company Accounts: Accounting For Debentures
08
Part B
Analysis of Financial Statement
Financial Statement of a Company
(i) Comparative And Common Size Statements
10
Cash Flow Statement
OR
Computerized Accounting
10
Using Computerised Accounting System
Database Management System
Total Theory
40
Project Work (Part -2)
10
Term 1 Detailed syllabus - Chapter wise
Part A
Unit: Accounting for Partnership Firms Units/Topics
Partnership: features, Partnership Deed.
Provisions of the Indian Partnership Act 1932 in the absence of partnership deed.
Fixed v/s fluctuating capital accounts. Preparation of Profit and Loss Appropriation account- division of profit among partners, guarantee of profits.
Past adjustments (relating to interest on capital, interest on drawing, salary and profit sharing ratio).
Goodwill: nature, factors affecting and methods of valuation – average profit, super profit and capitalization.
Accounting for Partnership firms – Reconstitution
Change in the Profit Sharing Ratio among the existing partners – sacrificing ratio, gaining ratio, accounting for revaluation of assets and reassessment of liabilities and treatment of reserves and accumulated profits. Preparation of revaluation account and balance sheet.
Admission of a partner – effect of admission of a partner on change in the profit sharing ratio, treatment o goodwill (as per AS 26), treatment for revaluation of assets and reassessment of liabilities, treatment of reserves and accumulated profits.
Note: (i) The realized value of each asset must be given at the time of dissolution. (ii) In case, the realization expenses are borne by a partner, clear indication should be given regarding the payment thereof.
Unit-3 Accounting for Companies
Accounting for Share Capital
Share and share capital: nature and types.
Accounting for share capital: issue and allotment of equity and preferences shares. Public subscription of shares – over subscription and under subscription of shares; issue at par and at premium, calls in advance and arrears (excluding interest), issue of shares for consideration other than cash.
Concept of Private Placement and Employee Stock Option Plan (ESOP).
Accounting treatment of forfeiture and reissue of shares.
Disclosure of share capital in the Balance Sheet of a company.
Part B: Financial Statement Analysis
Unit: Analysis of Financial Statements
Financial statements of a Company: Statement of Profit and Loss and Balance Sheet in prescribed form with major headings and sub headings (as per Schedule III to the Companies Act, 2013)
Financial Statement Analysis: Objectives, importance and limitations.
Tools for Financial Statement Analysis: Comparative statements, common size statements, cash flow analysis, ratio analysis.
Accounting Ratios: Meaning, Objectives, classification and computation.
Liquidity Ratios: Current ratio and Quick ratio.
Solvency Ratios: Debt to Equity Ratio, Total Asset to Debt Ratio, Proprietary Ratio and Interest Coverage Ratio.
Activity Ratios: Inventory Turnover Ratio, Trade Receivables Turnover Ratio, Trade Payables Turnover Ratio and Working Capital Turnover Ratio.
Profitability Ratios: Gross Profit Ratio, Operating Ratio, Operating Profit Ratio, Net Profit Ratio and Return on Investment.
OR
Part B: Computerised Accounting
Unit: Computerised Accounting
Overview of Computerised Accounting System
Introduction: Application in Accounting.
Features of Computerised Accounting System.
Structure of CAS.
Software Packages: Generic; Specific; Tailored.
Accounting Application of Electronic Spreadsheet
Concept of electronic spreadsheet.
Features offered by electronic spreadsheet.
Application in generating accounting information – bank reconciliation statement; asset accounting; loan repayment of loan schedule, ratio analysis
Data representation- graphs, charts and diagrams.
Term 2 Detailed syllabus - Chapter wise
Part – A
Unit : Accounting for Not – For Profit Organisations
Not-for-profit organizations: concept.
Receipts and Payments Account: features and preparation.
Income and Expenditure Account: features, preparation of income and expenditure account and balance sheet from the given receipts and payments account with additional information.
Unit : Accounting for Partnership Firms
Accounting for Partnership firms – Reconstitution and Dissolution
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 and preparation of balance sheet.
Calculation of deceased partner’s share of profit till the date of death.
Dissolution of a partnership firm: meaning of dissolution of partnership and partnership firm, types of dissolution of a firm. Settlementof accounts – preparation of realization account, and other related accounts: capitalaccounts of partners and cash/bank a/c (excluding piecemeal distribution, sale to a company and insolvency of partner(s)).
Unit – Accounting for Companies
Accounting for Debentures
Debentures: Issue of debentures at par, at a premium and at a discount. Issue of debentures for consideration other than cash; Issue of debentures with terms of redemption; debentures as collateral securityconcept, interest on debentures. Writing off discount / loss on issue of debentures.
Part – B:
Unit : Analysis of Financial Statements
Financial statements of a Company
Tools for Financial Statement Analysis: Comparative statements, common size statements.
Unit : Cash Flow Statement
Meaning, objectives and preparation (as perAS 3 (Revised) (Indirect Method only)
OR
Part B: Computerised Accounting
Unit : Computerised Accounting
Using Computerized Accounting System
Steps in installation of CAS, codification and Hierarchy of account heads, creation of accounts.
Data: Entry, validation and verification.
Adjusting entries, preparation of balance sheet, profit and loss account with closing entries and opening entries.
Need and security features of the system.
Database Management System (DBMS)
Concept and Features of DBMS.
DBMS in Business Application.
Generating Accounting Information – Payroll.
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