Description
Detailed Breakdown of the Syllabus:
Part A: Accounting for Partnership Firms and Companies
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Unit 1: Accounting for Partnership Firms:
- Fundamentals of Partnership: Includes partnership features, partnership deed, and provisions of the Indian Partnership Act, 1932.
- Fixed vs. Fluctuating Capital Accounts: Understanding the difference between these two types of capital accounts.
- Profit and Loss Appropriation Account: Preparation of this account and division of profits among partners.
- Past Adjustments: Handling errors in the past related to interest on capital, interest on drawings, salary, and profit-sharing ratio.
- Goodwill: Definition, nature, factors affecting goodwill, and methods of valuation (average profit, super profit, capitalization).
- Fundamentals of Partnership: Includes partnership features, partnership deed, and provisions of the Indian Partnership Act, 1932.
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Unit 2: Accounting for Companies:
- Company Accounts: Includes accounting for shares, debentures, and other company-related transactions.
- Issue and Redemption of Debentures: Understanding different types of debentures, their issuance, and redemption.
- Company Accounts: Includes accounting for shares, debentures, and other company-related transactions.
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Unit 3: Computerized Accounting:
- Steps in Installation of CAS (Computerized Accounting System), codification, and hierarchy of account heads.
- Data Entry, Validation, and Verification: Understanding the process of entering and verifying data in a computerized accounting system.
- Adjusting Entries and Preparation of Balance Sheet, Profit and Loss Account: Using the system to make adjustments and prepare financial statements.
- Need and Security Features of the System: Understanding the importance of security and other features of a computerized accounting system.
- Steps in Installation of CAS (Computerized Accounting System), codification, and hierarchy of account heads.
Part B: Financial Statement Analysis
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Unit 3: Analysis of Financial Statements:
- Financial Statements: Meaning, users, and the purpose of financial statements.
- Distinction between Capital and Revenue Expenditure: Understanding the difference between these two types of expenditures.
- Trading and Profit and Loss Account: Preparation and understanding of these accounts.
- Balance Sheet: Understanding the structure and presentation of the balance sheet.
- Adjustments in Preparation of Financial Statements: Handling adjustments related to closing stock, outstanding expenses, prepaid expenses, etc.
- Financial Statements: Meaning, users, and the purpose of financial statements.
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Unit 4: Cash Flow Statement:
- Preparation of Cash Flow Statement: Understanding the format and preparation of the cash flow statement.
- Preparation of Cash Flow Statement: Understanding the format and preparation of the cash flow statement.
Other Important Topics:
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Recording of Business Transactions:
- Source documents and vouchers, preparation of vouchers.
- Accounting Equation Approach: Understanding the accounting equation and its application.
- Rules of Debit and Credit: Applying the rules of debit and credit in recording transactions.
- Books of Original Entry: Understanding the use of journals, cash books, and other special purpose books.
- Source documents and vouchers, preparation of vouchers.
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Project Work:
- Students are expected to undertake a project involving recording transactions, ledgering, preparing trial balances, and financial statements.
- The project may include simple GST-related transactions.
- Students are expected to undertake a project involving recording transactions, ledgering, preparing trial balances, and financial statements.
Important Note: The syllabus may have undergone changes for the 2024-25 academic year, and it’s always recommended to refer to the official CBSE website for the latest updates and syllabus details.
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