Live Account Classes for XII
This Course is designed by the ‘Kapil Dev Dhand’ Director- Delhi Institute of Commerce Education for Accountancy Students of Class XII of CBSE and ICSE
This course is developed by the India’s Top Most Faculties and caters the need of Concept Clarity and High Scoring simultaneously.
Live Lectures are Beautifully designed in systematic sequence and in form of Questions and Answers along with well designed illustration which make students fall in love with Accountancy.
E-book along with QRT(Quick Revision Techniques) notes are provided with this course.
All the Live Lectures are also available for students 24×7 after the class so that students can revise the class according to his own convenience.
Part A: Accounting for Not-for-Profit Organizations, Partnership Firms and Companies
Unit 1: Financial Statements of Not-for-Profit Organizations
- 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 2: Accounting for Partnership Firms
Fundamental of Accounting.
- 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 – 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 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.
Retirement and death of a partner: effect of retirement / death of a partner on change in profit sharing ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and reassessment of liabilities, adjustment of accumulated profits and reserves, adjustment of capital accounts and preparation of balance sheet. Preparation of loan account of the retiring partner. Calculation of deceased partner’s share of profit till the date of death. Preparation of deceased partner’s capital account and his executor’s account.
Dissolution of a partnership firm: meaning of dissolution of partnership and partnership firm, types of dissolution of a firm. Settlement of accounts – preparation of realization account, and other related accounts: capital accounts of partners and cash/bank a/c (excluding piecemeal distribution, sale to a company and insolvency of partner(s)).
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 re-issue of shares.
- Disclosure of share capital in the Balance Sheet of a company.
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 security-concept, interest on debentures. Writing off discount / loss on issue of debentures.
- Redemption of debentures-Methods: Lump sum, draw of lots.
- Creation of Debenture Redemption Reserve.
Part B: Financial Accounting – II
Unit 4: Analysis of Financial Statements
Financial Statement 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.
Unit 5: Cash Flow Statement
Meaning, objectives and preparation (as per AS 3 (Revised) (Indirect Method only)
(i) Adjustments relating to depreciation and amortization, profit or loss on sale of assets including investments, dividend (both final and interim) and tax.
(ii) Bank overdraft and cash credit to be treated as short term borrowings.
(iii) Current Investments to be taken as Marketable securities unless otherwise specified.
- Lectures 0
- Quizzes 0
- Skill level Beginner
- Language English
- Students 0
- Assessments Yes