Minimum Level Learning - Accountancy
Though the board expects all students to prepare thoroughly and may put question from any corner of the syllabus, still some topics are in the ‘must’ list. These topics should be prepared thoroughly by all the students on priority basis, especially those who find it difficult to cope up with full syllabus.
In addition, calculations, concentrated reading of the question paper and proper presentation are required which cannot be overlooked.
Part -A
Fundamentals of Partnership
- Partnership Deed - Theory as well as in numerical type questions.
- Interest on Drawings - Rule, Calculation (all methods) and Treatment (Journal Entries).
- Interest on Capital - Rule, Calculation (Simple and Product methods) and Treatment (Journal Entries).
- Profit and loss Appropriation Account with all items.
- Past Adjustments (single and multiple errors).
Goodwill
- Meaning
- Factors generating goodwill
- Circumstances under which Goodwill is valued
- All methods of valuation of Goodwill
Change in Profit Sharing Ratio
- Sacrifice Ratio - Meaning
- Gaining Ratio - Meaning
- Calculation of Sacrifice and Gain
- Basic adjustment on Change in Profit Sharing Ratio
Admission of Partner
- New Profit-Sharing Ratio
- Treatment of Goodwill
- Revaluation of Assets/Liabilities
- Treatment of Reserves/ Accumulated Profits and Losses
Retirement and Death of Partner
- New Profit-Sharing Ratio
- Treatment of Goodwill
- Revaluation of Assets/Liabilities
- Treatment of Reserves/ Accumulated Profits and Losses
- Deceased Partner’s Capital Account and Executor Account
Dissolution of Partnership Firm
- Difference between Dissolution of Partnership and Dissolution of (partnership) Firm
- Preparation of Realization Account, Partners’ Capital Accounts and Bank Account
- Journal entries on Dissolution
Accounting for Share Capital
- Concepts of Share Capital
- Journal Entries - Simple cases
- Issue of Shares for Consideration other than cash (The most dependable).
- Showing Share Capital in Balance Sheet (Dependable with thorough understanding).
Accounting for Debentures
- Issue of Debentures consideration other than cash.
- Issue of Debentures with terms of issue and redemption.
Minimum Level Learning - Accountancy
Part-B
Financial Statement of a Company and Analysis
- Format of Balance-sheet with relevant legal provision
- Main heads and sub-heads of items of a Balance-sheet (Revise all previous years’ items first).
- Meaning of Operating Cycle, Current Asset, Current Liability
- Parties interested
Financial Analysis
- Meaning
- Types
- Tools
- Parties interested
Comparative and Common size Statements
- Preparation of Comparative Income Statement and Balance Sheet
- Preparation of Common-size Income Statement and Balance Sheet
Accounting Ratios
- Formula and significance of all ratios especially Current Ratio, Quick Ratio, Inventory Turnover Ratio, Gross Profit Ratio, Operating Ratio, Debt Equity Ratio, ROI.
- Effect of transaction on the ratios (especially above-mentioned ratios).
- Limitations of Ratio Analysis
Cash Flow Statement
- Meaning – detailed (with cash and cash equivalents)
- Meaning and identification of Operating, Investing and Financing Activities
- Transactions resulting in Cash Inflow/ Outflow or No flow.
- Simple Cash Flow Questions (Complete)
Project Work
- Prepare your Project file the best and original. Revise it thoroughly.
- Accounting year should be March 31, 2024 means data should be of 2022-23 and 2023-24.
- Prepare for Viva
Note: Some topics have been linked here to give you the summaries to save your time and effort.
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