Overview

Accountancy is a subject recognised as an important asset to learn more about the business. Its knowledge stands indispensable for the sake of recording and analysing business transactions. It also interprets the business results.To help students in clarifying their concepts, the accounts home tutors are available who help students in enhancing their knowledge of principles and practices of financial accounting. Accounts home tuitions for class XII have been extending a helping hand to students to resolve their doubts.

Description

Session wise Curriculum:

Accountancy home tutors teach the students while keeping the syllabus of the NCERT and CBSE in mind. It is being taught going along with the school syllabus. Here we bring tentative session-wise complete Accountancy course for class XII:

Unit 1: Accounting for Partnership Firms

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 and Dissolution
Change in the Profit Sharing Ratio among the existing partners
Admission of a partner - effect of admission of a partner on change in the profit sharing ratio
Retirement and death of a partner: Calculation of deceased partner‟s share of profit till the date of death
Dissolution of a partnership firm

Unit-2 Accounting for Companies

Accounting for Share Capital
Share and share capital: nature and types
Accounting for share capital: issue and allotment of equity shares, private placement of shares, Employee Stock Option Plan (ESOP). Public subscription of shares
Accounting treatment of forfeiture and re-issue of shares
Disclosure of share capital in company‟s Balance Sheet
Accounting for Debentures
Debentures: Issue of debentures at par, at a premium and at a discount
Redemption of debenturesDebenture Redemption Reserve

Unit 3: Analysis of Financial Statements

Financial statements of a company: Statement of Profit and Loss and Balance Sheet in the prescribed form
Financial Statement Analysis: Objectives, importance and limitations
Tools for Financial Statement Analysis
Accounting Ratios: 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

Unit 4: Cash Flow Statement

Meaning, objectives and preparation (as per AS 3 (Revised) (Indirect Method only)

Unit 5: 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
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