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Class 12

Accountancy

58 lessons in 10 chapters, explained in plain words.

Accounting for Partnership: Basic Concepts

  1. Partnership and the deed
  2. Partners' capital accounts
  3. Profit and Loss Appropriation Account
  4. Interest on capital
  5. Interest on drawings
  6. Guarantee of profit
  7. Past adjustments

Reconstitution of a Partnership Firm - Admission of a Partner

  1. Reconstitution and the new profit sharing ratio
  2. Sacrificing ratio
  3. Goodwill and its valuation
  4. Treatment of goodwill on admission
  5. Reserves and revaluation
  6. Adjustment of capitals
  7. Change in profit sharing ratio

Reconstitution of a Partnership Firm - Retirement/Death of a Partner

  1. New ratio and gaining ratio
  2. Goodwill on retirement and death
  3. Revaluation, reserves and profit to date
  4. Settling the retiring partner
  5. Adjusting continuing partners' capitals
  6. Death of a partner

Dissolution of Partnership Firm

  1. Dissolution of partnership and of the firm
  2. Settlement of accounts
  3. Realisation Account and journal entries
  4. Worked dissolutions
  5. More dissolution cases

Accounting for Share Capital

  1. The company and its share capital
  2. Issuing shares: application, allotment, calls
  3. Calls in arrears and calls in advance
  4. Over-subscription, premium and shares for assets
  5. Forfeiture of shares
  6. Reissue of forfeited shares

Issue and Redemption of Debentures

  1. What a debenture is
  2. Issuing debentures for cash
  3. Debentures for assets and as collateral
  4. Terms of issue and redemption
  5. Interest and writing off the loss
  6. Redeeming debentures: lump sum and instalments
  7. Buying back and converting debentures

Financial Statements of a Company

  1. What financial statements are
  2. The Schedule III balance sheet
  3. Current or non-current?
  4. The statement of profit and loss
  5. Uses and limits of financial statements

Analysis of Financial Statements

  1. Why analyse financial statements
  2. The tools of analysis
  3. Comparative statements
  4. Common size statements
  5. Limits of financial analysis

Accounting Ratios

  1. What ratios are for
  2. Types of ratios; liquidity
  3. Solvency ratios
  4. Activity (turnover) ratios
  5. Profitability ratios

Cash Flow Statement

  1. What a cash flow statement shows
  2. Three kinds of activity
  3. Operating cash flow: the indirect method
  4. Investing and financing flows
  5. The full cash flow statement