AHSEC HS 2nd Year Accountancy Syllabus
One Paper Three Hours Marks 100
Unitwise Distribution of Course Contents:
Part A:
Accounting for Not-for-Profit Organisations and Partnership Firms [Total Marks 50/Total Periods -100]
Unit-I: Accounting for Not-for-profit Organisations: 10 Marks
Meaning, characteristics and accounting records of Not-for-profit Organisations.
Receipts and Payments Account: Meaning and Preparation.
Income and Expenditure Account: Meaning, special terms used in Not-for-profit Organisations, treatment of some peculiar items in Income and Expenditure Account, Concept of Fund Based and Non-fund Based accounting, Preparation of Income and Expenditure Account and Balance Sheet from a Receipts and Payments Account and additional information and from a given Trial-Balance. Incidental Trading Activities by a Not-for-Profit Organisation.
Unit II: Accounting of Partnership: 10 Marks
Basic Concepts, Characteristics of Partnership, Partnership Deed, Contents of Partnership Deed.
Maintenance of Capital Accounts of Partners: Fixed and Fluctuating Capital, Distribution of profit among partners, interest on capital, drawings, interest on drawings, interest on Partner’s loan to a firm, salary/commission to a partner, Guarantee of Profit to a partner, Past adjustments. Preparation of Final Accounts of Partnership Firm.
Unit-III: Reconstitution of Partnership Firm – Admission of a Partner: 10 Marks
Modes of Reconstruction of Partnership Firm.
Admission of New Partner: Matters relating to admission of a New Partner, New Profit Sharing Ratio, Sacrificing Ratio.
Goodwill: Nature, needs, factors affecting and methods of valuation: Average profits, Super profits and Capitalisation method, accounting treatment of goodwill on admission of a partner.
Treatment of Accumulated Profits and Losses, Revaluation of assets and Re-assessment of Liabilities.
Adjustment of capitals, change in Profit sharing ratio among the Existing Partners.
Unit-IV: Reconstitution of Partnership Firm – Retirement/Death of a Partner: 10 Marks
Ascertaining the Amount Due to Retiring/Deceased Partner.
Matters requiring attention at the time of retirement: New Profit Sharing Ratio, Gaining Ratio, Treatment of Goodwill, Revaluation of assets and Re-assessment of Liabilities, Adjustment of accumulated Profits/Reserve and Losses. Disposal of Amount due to Retiring Partner. Adjustment of Partners capital.
Death of a partner: Calculation of profit for the current period. Treatment of Joint Life Policy and Individual Life Policy in case of death of a partner.
Unit-V: Dissolution of Partnership Firm: 10 Marks
Meaning, Dissolution of Partnership, Dissolution of a Firm.
Settlement of Accounts: Preparation of Realisation Accounts and other related accounts; (excluding Piece meal distribution, insolvency of a partner and sale to a company).
Part-B:
Company Accounts and Analysis of Financial Statements [Total Marks 50/ Total Periods -100]
Unit-I: Accounting for Share Capital: 15 Marks
Company: Meaning and definitions, features and types.
Share Capital: Meaning, classifications, Nature and class of shares. Accounting for Issue and allotment of Equity and Preference shares, Oversubscription – proportionate allotment, under subscription, Calls-in-Arrears, Calls-in-Advance, Issue of share at par and at a premium, Issue of shares for consideration other than cash. Accounting for forfeiture of
shares and Re-issue of forfeited shares.
Buy-back of shares – meaning.
Unit-II: Issue and Redemption of Debentures: 10 Marks
Debentures: Meaning and Types.
Accounting for Issue of Debentures: Issue of debentures at par, at a premium, at a discount, oversubscription, issue of debentures for consideration other than cash, issue of debentures as a Collateral Security.
Terms of Issue of Debentures. Accounting for Interest on Debentures, writing off Discount/Loss on Issue of Debentures.
Redemption of debentures: by payment in Lump-sum, purchase in open market, by conversion, (Sinking Fund Method omitted from syllabus)
Unit-III: Financial Statements of a Company: 08 Marks
Financial Statement: Meaning, Nature, Objectives, Types, Uses and Importance, Limitations.
Statement of Profit and Loss: Form and Contents.
Balance Sheet: Form and Contents.
Unit-IV: Analysis of Financial Statements: 07 Marks
Meaning, Significance, Objectives, Tools of Financial Statements analysis: Comparative Statement, Common Size Statements, Trend Analysis, Limitations of Analysis of Financial Statements.
Unit-V: Accounting Ratios: 05 Marks
Meaning of Accounting Ratios. Ratio Analysis: Objectives, Advantages, Limitations and Types – Liquidity Ratios, Solvency Ratios, Activity (Turnover) Ratios and Profitability Ratios.
Unit-VI: Cash Flow Statements: 05 Marks
Meaning, Nature and Objectives of Cash Flow Statements. Preparation of Cash Flow Statements – Indirect Method Only (as per Accounting Standard issued by ICAI)
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