Account XII

Accountancy - Part 1 Not-for-Profit Organisation and Partnership Accounts
Accounting For Not For Profit Organisation
20 Topics
Meaning and Features of Not-for-Profit Organisation
Distinction between Profit Earning Organisation and Not-for-Profit Organisation
Financial Statements of Not-for-Profit Organisations
Meaning and Features of Receipts and Payments Account
Format of Receipts and Payments Account
Preparation of Receipts and Payments Account
Accounting Treatment of Receipts and Payments Account
Meaning and Features of Income and Expenditure Account
Distinction between Receipts & Payments Account and Income & Expenditure Account
Format of Income and Expenditure Account
Preparation of Income and Expenditure Account
Accounting Treatment of Income and Expenditure Account
Preparation of Balance Sheet
Accounting Treatment of Balance Sheet
Peculiar Items of Not-for-Profit Organisation Part I
Peculiar Items of Not-for-Profit Organisation Part II
Peculiar Items of Not-for-Profit Organisation Part III
Income and Expenditure based on Trial Balance
Calculation of Consumable Goods
Incidental Trading Activity
Accounting for Partnership Firms – Basic Concepts
 15 Topics
Introduction to Partnership
Features of Partnership
Limited Liability Partnership
Partnership Deed
Provisions Relevant for Accounting in the absence of Partnership Deed
Maintenance of Capital Accounts of Partners
Profit and Loss Appropriation Account
Treatment for Interest on Capital
Treatment for Interest on Partner’s Loan
Treatment for Interest on Drawings
Treatment for Salary or Commission
Guarantee of Profit to a Partner
Single Adjustment Entry
Separate Adjustment Entries
Final Accounts of Partners
Reconstitution of a Partnership Firm – Change in Profit Sharing Ratio Among Existing Partners
 16 Topics
Modes of Reconstitution of a Partnership Firm
Profit Sharing Ratio
Sacrificing Ratio and Gaining Ratio
Meaning and Nature of Goodwill
Origin of Goodwill
Classification of Goodwill
Average Profits Method
Super Profits Method
Capitalisation Method
Accounting Treatment of Goodwill when there is change in Profit Sharing Ratio of Existing Partners
Adjustment for Accumulated Profits and Losses
Workmen Compensation Reserve
Investment Fluctuation Reserve
When revised values are to be recorded in the books
When revised values are not to be recorded in the books
Change in Profit Sharing Ratio among the Existing Partners
Reconstitution Of A Partnership Firm – Admission Of A Partner
 17 Topics
Admission of a New Partner
New Profit Sharing Ratio
Sacrificing Ratio
Treatment of Goodwill on the Admission of a New Partner
When the New partner brings his share of Goodwill in Cash
When the New Partner brought premium in kind
When Goodwill Already Appears in the Books and New Partner brings his share of Goodwill in Cash
When Goodwill already appears in the Books and New Partner does not bring his share of Goodwill in Cash
When New Partner brings in only a part of his share of Goodwill
Treatment of Hidden Goodwill
Adjustment for Accumulated Profits and Losses
Workmen Compensation Reserve
Investment Fluctuation Reserve
Revaluation of Assets and Reassessment of Liabilities
When the new partner brings in proportionate capital
Adjustment of old partner’s capital accounts on the basis of new partner’s capital
Final Accounts on Admissions of a Partner
Reconstitution Of A Partnership Firm – Retirement/Death Of A Partner
 18 Topics
Retirement of a Partner
Calculation of New profit Sharing Ratio at the time of Retirement
Calculation of Gaining Ratio at the time of Retirement
Distinction between Sacrificing Ratio and Gaining Ratio
When Goodwill Account is already appearing in the Books
When Goodwill Account is already appearing in the Books
Treatment of Hidden Goodwill at the time of Retirement
Adjustment of Revaluation of Assets and Liabilities at the time of Retirement
Adjustment of Accumulated Profits and Losses
Disposal of Amount Due to Retiring Partner
Adjustment of capitals according to the new profit sharing ratio
Retirement and Settlement of Loan
Final Accounts on Retirement of a Partner
Death of Partner
Accounting Treatment while Death of a Partner
Calculation of Profit on Time Basis
Calculation of Profit on Turnover Basis
Final Accounts on Death of a Partner
Dissolution Of Partnership Firm
 15 Topics
Dissolution of a Partnership Firm
Distinction between Dissolution of Partnership and Dissolution of Firm
Settlement of Accounts
Payment of Firms’ Debts and Private Debts
Realisation Account (Closing Assets and Liabilities)
Workmen Compensation Reserve
Realisation of Assets and Expenses
Investment Fluctuation Reserve and Provident Fund
Closing of Realisation Account
Partner’s Loan and Capital Accounts
Payment of Partner’s Loan
Asset taken over by the Partner
Cash or Bank Account
Balance Sheet at the Date of Dissolution not given
Final Accounts on Dissolution
Accountancy - Part 2 Company Accounts and Analysis of Financial Statements
Accounting for Share Capital
 31 Topics
Meaning and Features of a Company
Kinds of Companies
One Person Company
Meaning and Nature of Shares
Classes of Shares – Preference Shares
Classes of Shares – Equity Shares
Share Capital of a Company
Kinds of Share Capital
Subscribed Capital
Presentation of Share Capital in Company’s Balance Sheet
Capital Reserve and Reserve Capital
Issue of Shares
Private Placement of Shares
Employee Stock Option Plan (ESOP)
Public Subscription of Shares
Accounting Treatment on Issue of Shares
Issue of Shares at Par
Issue of Shares at Premium
Use of Cash Book on Issue of Shares
Issue of Shares at Discount
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Issue and Redemption of Debentures
 23 Topics
Meaning and Features of a Debenture
Distinction between a Share and a Debenture
Types of Debentures
Debenture Trust Deed
Issue of Debentures
Issue of Debentures at Par I
Issue of Debentures at Par II
Issue of Debentures at Discount
Over Subscription
Issue of Debentures for Consideration other than Cash
Issue of Debentures as a Collateral Security
Terms of Issue of Debentures Part I
Terms of Issue of Debentures Part II
Interest on Debentures
Writing off Discount Loss on Issue of Debentures
Redemption of Debentures
Methods of Redemption of Debentures
Redemption by Payment in Lump Sum
Redemption by Payment in Instalments (Draw of Lots)
Redemption by Purchase in Open Market
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Financial Statements of a Company
 21 Topics
Meaning of Financial Statements
Objectives of Financial Statements
Nature of Financial Statements
Types of Financial Statements
Users of Financial Statements
Use and Importance of Financial Statements
Advantages and Limitations of Financial Statements
Horizontal Form of Income Statement
Vertical Form of Income Statement
Preparation of Income Statement
Balance Sheet
Share Capital (Shareholder’s Funds)
Subscribed Capital (Shareholder’s Funds)
Called-up and Paid-up Capital (Shareholder’s Funds)
Reserves and Surplus (Balance Sheet)
Non-Current Liabilities (Balance Sheet)
Current Liabilities (Balance Sheet)
Non-Current Assets (Balance Sheet)
Current Assets (Balance Sheet)
Some Peculiar Items of Balance Sheet
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Analysis of Financial Statements
 23 Topics
Meaning of Financial Analysis
Purpose of Financial Analysis
Significance or Importance of Financial Analysis
Uses of Financial Analysis
Types or Methods of Financial Analysis
Limitations of Financial Analysis
Tools of Financial Analysis
Utility of Comparative Statements
Forms of Presenting Comparative Statements
Comparative Statement of Profit and Loss
Specimen of Comparative Statement of Profit and Loss
Preparing Comparative Statement of Profit and Loss
Comparative Balance Sheet
Specimen of Comparative Balance Sheet
Preparing Comparative Balance Sheet
Utility of Common Size Statement
Common Size Statement of Profit and Loss
Specimen of Common Size Statement of Profit and Loss
Preparing Common Size Statement of Profit and Loss
Common Size Balance Sheet
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Accounting Ratios
 37 Topics
Meaning of Accounting Ratios
Ratio Analysis
Benchmarks of Ratio Analysis
Advantages of Ratio Analysis
Limitations of Ratio Analysis
Traditional Classification of Ratios
Functional Classification of Ratios
Ingredients of Current Ratios
Objectives and Significance of Current Ratio
Computing Current Ratio
Objectives of Quick Ratio
Computing Quick Ratio
Computing Liquidity Ratios
Objectives of Debt Equity Ratio
Computing Debt Equity Ratio
Objectives of Total Assets to Debt Ratio
Computing Total Assets to Debt Ratio
Objectives of Proprietary Ratio
Computing of Proprietary Ratio
Objectives of Interest Coverage Ratio
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Cash Flow Statement
 27 Topics
Objectives of Cash Flow Statement
Uses of Cash Flow Statement
Limitations of Cash-Flow Statement
Nature of Cash Flow Statement
Procedure for Preparing Cash Flow Statement
Cash Flows from Operating Activities
Cash Flows from Investing Activities
Cash Flows from Financing Activities
Special Items of Cash Flow Statement
Cash Inflows and Outflows as per AS-3
Format of Cash Flow Statements
Determination of Net profit before Tax
Adjustment of Non-cash and Non-operating Items
Adjustment in respect of Changes in Current Assets and Current Liabilities
Deduction of Income Tax Paid
Calculating Cash Flow from Operating Activities Part I
Calculating Cash Flow from Operating Activities Part II
Cash Flow from Investing Activities
Preparation of Fixed Asset Account on Written Down Value Basis
Preparation of Fixed Asset Account on Original Cost Basis
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Income and Expenditure based on Trial Balance

Account XII Accounting For Not For Profit Organisation Income and Expenditure based on Trial Balance

[ How to prepare Income and Expenditure Account from the Trial Balance? How to prepare Balance Sheet from the Trial Balance?]

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