Accountancy Part -A
as per CBSE curriculum 2022-2023
1:ACCOUNTING FOR NON-FOR-PROFIT ORGANIZATION
Not-for-profit organizations: concept.
Receipts and Payments Account: features and preparation.
Income and Expenditure Account: features, preparation of income and expenditure account and balance sheet from the given receipts and payments account with additional information.
Accounting Treatment of Subscription ,Legacy , consumable store and Fund base Accounting
3:CHANGE IN PROFIT SHARING RATIO
Change in the Profit Sharing Ratio among the existing partners.
Sacrificing ratio, gaining ratio.
Accounting for revaluation of assets and reassessment of liabilities and treatment of reserves and accumulated profits. Preparation of revaluation account and balance sheet.
4:ADMISSION OF A PARTNER
Effect of admission of a partner on change in the profit sharing ratio.
Treatment of goodwill (as per AS 26),
Treatment for revaluation of assets and reassessment of liabilities.
Treatment of reserves and accumulated profits,
Adjustment of capital accounts and preparation of balance sheet.
5:RETIREMENT OF PARTNER
Effect of retirement of a partner on change in profit sharing ratio.
Treatment of goodwill (as per AS 26).
Treatment for revaluation of assets and reassessment of liabilities
Adjustment of accumulated profits and reserves. adjustment of capital accounts .
Preparation of balance sheet. Preparation of loan account of the retiring partner
6:DEATH OF A PARTNER
Calculation of deceased partner’s share of profit till the date of death.
His share of goodwill
His share of interest on capital
His share of reserve
Preparation of revaluation account
Preparation of deceased partner’s capital account and his executor’s account.
7:DISSOLUTION OF A FIRM
Meaning of dissolution of partnership and partnership firm, types of dissolution of a firm. Settlement of accounts
Preparation of realization account, and other related accounts:
Capital accounts of partners and cash/bank a/c (excluding piecemeal distribution, sale to a company and insolvency of partner(s)).
Journal entries of dissolution expenses, etc.