Description
Topics to be Covered in the Class 12th Accounts Course: |
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| Units | Details |
| Accounting for Partnership Firms | Fundamentals of Partnership: Features of Partnership, Partnership Deed, Provisions of the Indian Partnership Act 1932 in the absence of Partnership Deed, Preparation of Fixed & Fluctuating Capital Accounts, Preparation of Profit and Loss Appropriation Account (for division of profits), Guarantee of Profits, Past Adjustments (relating to interest on capital, interest on drawing, salary and profit sharing ratio) Goodwill Valuation: Goodwill − Nature, Factors affecting Goodwill and Methods of Valuation – Average Profit, Super Profit and Capitalisation Change in the Profit Sharing Ratio among the Existing Partners: Calculation of Sacrificing ratio, Gaining ratio, Accounting for Goodwill and Accumulated Profits, Preparation of Revaluation Account and Balance Sheet Admission of a Partner: Calculation of New Ratio and effect of Admission of a Partner on change in the profit sharing ratio, Treatment of Goodwill (as per AS 26), Treatment of Reserves and Accumulated Profits, Treatment for Revaluation of Assets and Reassessment of Liabilities, Adjustment of Capital Accounts and Preparation of Balance Sheet Retirement / Death of a Partner: Calculation of New Ratio and effect of Retirement / Death of a Partner on change in profit sharing ratio, Treatment of Goodwill (as per AS 26), Treatment of Reserves and Accumulated Profits, Treatment for Revaluation of Assets and Reassessment of Liabilities, 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 Executor’s Account Dissolution of Partnership Firms: Settlement of accounts – Preparation of Realisation Account, Capital Accounts of Partners and Cash/Bank Account |
| Accounting for Companies | Accounting for Share Capital: Share and Share Capital – Nature, Types; Accounting for Share Capital − Issue and Allotment of Equity Shares, Public Subscription of Shares – Over Subscription and Under Subscription of Shares, Issue at Par and at Premium, Calls in Advance and Arrears, Issue of Shares for Consideration other than Cash, 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), Issue of debentures for Consideration other than Cash, Issue of Debentures with Terms of Redemption, Debentures as Collateral Security, Interest on Debentures, Treatment of Discount or Loss on Issue of Debentures |
| Preparation of Financial Statements of Companies | Concept of Not-for-Profit Organizations, Receipts and Payments Account: Features and Preparation, Income and Expenditure Account: Features and Preparation, Preparation of Balance Sheet from Receipts and Payments Account with additional information, Treatment of Funds, Treatment of Consumables |
| Preparation of Financial Statements of Companies | Financial Statements of a Company: Statement of Profit and Loss and Balance Sheet in the prescribed form with major headings and sub headings (as per Schedule III to the Companies Act, 2013) Financial Statement Analysis: Objectives, Importance, Limitations, Tools for Financial Statement Analysis – Comparative Statements, Common Size Statements |
| Ratio Analysis | Liquidity Ratios − Current Ratio, Quick Ratio; Solvency Ratios − Debt to Equity Ratio, Total Asset to Debt Ratio, Proprietary Ratio, 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 |
| Cash Flow Statement | Meaning, Objectives and Preparation of Cash Flow Statement (as per AS 3 by Indirect Method) |
‘Things to Know’ before taking Subscription of Live Classes: |
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| Package Contents | Live Sessions on YouTube Note : – The fees paid for the Course is Non-Refundable and Non-Transferable. – Course once subscribed cannot be cancelled. |
| Session Duration | 1 Hour Session (4 to 5 Sessions per week) Note: Live Sessions Link will be provided before the Class Time |
| Validity Period | Till Course Completion Note: After Course Completion, there will be no further Live Sessions |
| Back-Up of Live Sessions | If a student misses out the Live Session, recorded version of the Session will be available Note : The Faculty will not cover the Topic again which was taught in the Live Session. It has to be covered through recorded version only |
| Lectures will Play On | Desktop, Laptop, Phone Note: GMAIL ID will be required to Watch the Live Sessions and Recorded Classes GMAIL ID Change Request will be charged at ₹ 500 Extra Students ID Proof i.e., Aadhar card or Passport or Latest School ID Card will be required for Course Activation. |
| Video Language | Hinglish |
| Doubts Solution during Live Session | Student can raise doubt using the Chat-Box |
