1. Accounting

Meaning, Objectives and Basic Accounting Terms Meaning

( Summarisation of accounting process in simple words )

BASIC TERMS

2. Theory Base of Accounting

Basic Assumptions :

Basic Principles :

3. Origin and Recording of Transactions

Accounts and its classification

Rules of debit and credit

Double Entry Book-keeping

Books of original entry-meaning, format and entries :

LEDGER:

Bank Reconciliation, statement :
 

4. Trial Balance and Errors

Meaning and Objectives :

Rectification of errors-Passing journal entries

( simple exercises )

Suspense account - Meaning, utility.

5. Financial Statements

Trading Account, Profit and Loss Account and Balance Sheet.

( Meaning, need and preparation )

Use of further information for adjustments in preparation of final accounts :

6. Computer Awarness

Introduction of computers-Meaning and features. Role of computer in accounting.

7. Depreciation, Reserves and Provisions

Depreciation :
 

Reserves and provisions :

8. Bills of Exchange

Definition

Features

Parties to a bill of exchange-drawer, drawer and payee, drawee and payee ,

Specimen of a bill of exchange

Specimen of a bill of exchange

Important terms :

Terms of bill, days of grace, date of maturity, negotiation, endorsement, discounting of bill, dishonour
 of bill, noting charges, retirement and renewal of a bill.

Journal entries.

Necessary accounts in the books of drawer and drawee.

9. Accounts of Non-profit Organisation

Meaning of non-profit organisation with examples.

 Receipts and Payments accounts :

Income and Expenditure Account and Balance Sheet :

10. Accounts from Incomplete Records

Books Recommended

Accountancy

CLASS XII

Accounting - III

Accounting - IV

50 Marks

One of the following two can be offered for Accounting IV :

(i) Analysis of Financial Statements

OR

(ii) Cost Accounting

(i) Analysis of Financial Statements

OR

(ii) Cost Accounting

Units

1. Accounting for Partnership Firms

I. Nature of Partnership Firms

Partnership Deed (meaning. impact on accounting treatment )

Special aspects of partnership accounts :

II. Admission of a Partner

III. Retirement / Death of a Partner

IV. Dissolution of Partnership Firm

2. Company Account

	I .	Nature of a Company
	II.	Shares
	III.	Accounting for share capital

4. Forfeiture and Re-issue of Share

 5. Debentures

6. Redemption of Debentures

7. Balance Sheet of Companies in the Prescribed form with Major Headings only

( Schedule VI, Part I Only).

Accounting - IV

Analysis of Financial Statements

1. Analysis of Financial Statements

(a) Meaning

(b) Significance and purpose

(c) Tools of financial analysis

(d) Limitations

2. Comparison of Financial Statements

(a) Meaning and purpose

(b) Changes in absolute figures for not more than 2 years ( intrafirm only )

3. Ratio Analysis

(a) Meaning of ratio analysis

(b) Meaning, objectives and commutations of :

-Liquidity Ratio : current ratio rind quick ratio

-solvency Ratio : debt equity ratio, interest coverage ratio, debt to total fund ratio.

-Activity Ratio : capital turn-over ratio, fixed assets turnover ratio, net working capital
turnover ratio, debtors turnover ratio, stock,, turnover ratio.

-Profitability Ratio : gross profit ratios (GP), net profit ratio ( NP ).

4. Statement of Changes in Financial Position ( SCFP ).

(a) Meaning and objectives

(b) Preparation of ;

-Funds Flow Statements (net working capital basis)

 -Cash Flow Statements( Statement of cash basis )

 -Adjustments to depreciation and amortisation of intangible assets only.

5. Cash Budget

(a) Meaning of budget.

(b) Cash Budget :

-Concept

- Utility

-Preparation of simple cash budget with no missing figures

OR

Elements of Costing

1. Meaning and objectives of Costing and Cost Concepts

(a) Meansng

(b) Cost accounting and financial accounting,

(c) Objectives

(d) Ascertainment and estimation of cost

(c) Cost control

(f) Cost Concepts - Meaning with illustration :

-Fixed Cost

-Variable Cost

-Semi-variable Cost

-Direct Cost

-Indirect Cost ( overheads)

-Opportunity Cost

2. Elements of Cost  - Nature, Characteristics and Examples

(a) Direct materials

(b) Direct labour

(c) Direct expenses

(d) Factory overheads

(e) General office and administrative overheads

(f) Selling and distribution overheads

3. Costing of Raw Materials and Stores

(a) Meaning and types of raw materials and stores.

Store records :

-Bin card-meaning and proforma preparation.

-Stores-ledger-meaning and proforma preparation.

(b) pricing of materials issued - methods :

-FIFO (First in First Out)  -  Meaning and advantage

-LIFO (Last in First Out) -  Meaning and advantage.

-Simple average and weighted average - Meaning and advantages

(c) Material losses  -  Meaning and illustration :

-Wastage

-Scrap

-Spoilage

-Defectives

-Normal Loss

-Abnormal Loss.

4. Costing for Labour

Time keeping :

(a) Meaning

(b) Methods - attendance register, card Punching machine.

Time Booking :

(a) Meaning

(b) Job Card - Meaning and preparation

(c) Idle time concept

Methods of wage payment :

(a) Piece basis - Meaning and simple calculation.

(b) Time basis - meaning and simple calculation

(C) Simple incentive wage plans

(5) Costing of Overheads

(a) Classification of Overheads

(b) Factory over heads - Meaning and example

(c) General administration overheads - Meaning and example

(d) Allocation - Meaning

(e) Apportionment and absorption - Meaning and method

6. Cost Sheet

(a) Meaning and importance

(b) Components of Cost Sheet :

-Prime Cost

-Work Cost or Cost of Production

-Cost of goods sold

-Cost of sales

-Sales

(c) Preparation of Cost Sheet

Books Recommended

1. Accounting - S. N. Maheswori, Sultan Chand, N. D.

( XII Class )

2. Accountancy - Tulsian & Tulsian, Frank Bros.   

3. Analysis of Financial Statements
          - S.N. Maheswori, Sultan Chand, N.D.

4. Analysis of Financial Statements
           - Tulsian & Tulsian, Frank Bros.

5. Elements of Costing 
            -  Arora & Soni, published by Pitambar Publishing Co. Pvt. Ltd.

6. Cost Accounting   -  N. C. E. R. T.