(iv) Capital and revenue expenditure, Capital and revenue receipts, Contingent assets and contingent liabilities
(vi) Accounting as a Measurement Discipline – Valuation Principles, Accounting Estimates.
(viii) Indian Accounting Standards– Concepts and Objectives.
(iii) Rectification of errors.
3. Bank Reconciliation Statement
Introduction, reasons, preparation of bank reconciliation statement.
Cost of inventory, Net realizable value, Basis and technique of inventory valuation and record keeping.
5. Concept and Accounting of Depreciation
Concepts, Methods of computation and accounting treatment of depreciation, Change in depreciation methods.
15%-20% 6. Accounting for Special Transactions
(i) Bills of exchange and promissory notes
Meaning of Bills of Exchange and Promissory Notes and their Accounting Treatment; Accommodation bills.
(ii) Sale of goods on approval or return basis
Meaning of goods sent on approval or return basis and accounting treatment.
Meaning and Features of consignment business, Difference between sale and consignment, Accounting
treatments for consignment transactions and events in the books of consignor and consignee.
(iv) Joint Ventures for non-corporate entities
Meaning and Features of joint venture transactions, Distinction between joint venture and partnership, Methods
of maintaining joint venture accounts.
(v) Royalty accounts
Meaning of the term “Royalty” and Accounting Treatment thereof.
(vi) Average Due Date
Meaning, Calculation of average due date in various situations.
(vii) Account Current
Meaning of Account Current, Methods of preparing Account Current.
25%-30% 7. Final Accounts of Sole Proprietors
Elements of Financial Statements, Closing adjustment entries, Trading account, Profit and Loss account and Balance
sheet of Manufacturing and Non-manufacturing entities
8. Partnership Accounts
(i) Final accounts of Partnership Firms
(ii) Admission, Retirement and Death of a Partner including Treatment of goodwill
(iii) Introduction to LLPs and distinction of LLPs from Partnership.
9. Financial Statements of Not-for-Profit Organisations
Significance of Receipt and Payment Account, Income and Expenditure Account and Balance Sheet, Difference
between Profit and Loss and Income and Expenditure Account; Preparation of Receipts and Payments Accounts,
Income and Expenditure Account and Balance Sheet of Not-for-profit-Organizations.
10%-15% 10. Introduction to Company Accounts
(i) Definition of shares and debentures
(ii) Issue of shares and debentures, forfeiture of shares, re-issue of forfeited shares
(iii) Statement of Profit and Loss and Balance Sheet as per Schedule III to the Companies Act, 2013
10%-15% 11. Basic Accounting Ratios (Profitability, Solvency, Liquidity and Turnover)