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Bihar Board Intermediate/12th Commerce Syllabus
Bihar Board 12th/Intermediate Accountancy Syllabus 2019
Name of the Unit Topics
Introduction to Partnership
1.1 Meaning and definitions
1.2 The Indian partnership Act 1932
1.3 Methods of capital accounts
Fixed Capital Method
Fluctuating Capital Method
Partnership Final Accounts
2.1 Introduction and Necessity of preparation of Final Accounts with following adjustments.
Adjustments
Closing stock
Outstanding expenses
Prepaid expenses
Income received in advance
Income receivable
Bad debts
Provision for doubtful debts
Reserve for a discount on debtors and creditors
Depreciation
Interest on capital, drawings and loans
Interest on investment and loans
Goods destroyed by fire/ accident (insured / uninsured)
Goods stolen
Goods distributed as free samples
Goods withdrawn by partners
Unrecorded purchases and sales
Capital expenditure included in revenue expenses and vice-versa
Bills Receivable dishonoured
Bills payable dishonoured
Deferred expenses
Capital receipts included in revenue. Receipts and vice-versa
Commission to working partner/ Managers on the basis of Gross profit, Net profit, sales, etc.
Reconstitution of Partnership
3.1 Meaning and different ways of reconstitution
3.2 Admission of a partner
3.2.1 Meaning and Need
3.2.2 Capital brought by new partner
3.2.3 New profit sharing ratio
3.2.4 Sacrifice ratio
3.2.5 Goodwill Meaning, Methods of valuation and treatment of goodwill.
Average profit method
Super profit method
3.2.6 Adjustment of accumulated profits and losses.
3.2.7 Revaluation of assets and liabilities
3.2.8 Adjustment of capitals
3.3 Retirement / Death of a partner
3.3.1 Meaning, need
3.3.2 New ratio
3.3.3 Gain ratio
3.3.4 Treatment of goodwill
3.3.5 Adjustment of accumulated profits and losses
3.3.6 Revaluation of assets and liabilities
3.3.7 Adjustment of capital
3.3.8 Amount due to retiring partner
3.3.9 Death of partner
Dissolution of Partnership Firm 4.1 Simple dissolution4.2 Dissolution under Insolvency situation
Accounts of Not for Profit concerns
5.1 Introduction, meaning and features of Not for Profit concerns.
5.2 Receipts and Payments Account meaning and features. The distinction between Income and Expenditure account.
5.3 Preparation of Income and Expenditure Account and Balance Sheet with the following
a) Additional Information
Outstanding expenses and prepaid expenses of the current and previous year
Accrued income and income received in advance
Subscription received in advance and Subscription outstanding of the current and previous year
Depreciation
The capitalisation of entrance fees.
Creation of special funds out of donations
Stock of stationery
Opening balances of assets and liabilities
b) Important Items
Entrance fees, Subscriptions, Legacy, life membership fees, Sale of old assets, Scrap, Newspapers, Specific donation, General Donations, Specific Funds, Endowment fund
Single entry system
6.1 Introduction
Meaning of single entry system.
Difference between single entry and double entry system.
6.2 Preparation of statements
6.3 Additional information.
Additional capital
Drawings
Depreciation on fixed Asset
Bad Debts
Reserve for Doubtful Debts
Undervaluation and Overvaluation of Assets and Liabilities
Interest on loan
Interest on capital
Interest on Drawings
Partners salary
Outstanding / Unpaid expenses
Prepaid Expenses/ Expenses paid in advance.
Bill of Exchange (Only Trade Bill)
7.1 Introduction, necessity, Meaning, Definition of Bill of Exchange
7.2 Draft/format of Bills, Parties to the Bill of Exchange, Acceptance of Bill, Terms of Bill, Days of Grace, Date of maturity, Due Date, Types of Bill
7.3 Honouring of Bill, Dishonour of Bill, Noting and Protesting of Bill, Notary Public and Noting Charges
7.4 Accounting Treatment of Bill by the Drawer/Holder and Drawee in
following cases:
Retaining the Bill till due date. honour/dishonour, insolvency of the
drawee/ acceptor
Endorsement of the Bill, Honour/ dishonour and also insolvency of
acceptor
Discounting the Bill with the Bank honour/dishonour and insolvency.
Sending the Bill to the Bank for collection, honour/ dishonour and insolvency
Renewal of Bill-Reasons for Renewal of the Bill. Renewal of Bill with or
without charging interest.
Making part payment of basic amount, interest and noting charges and
drawing of new Bill.
Honour/dishonour of New Bill
Insolvency of the acceptor and settlement of his account
Retirement of Bill
Journal Entries and Ledger
Company Accounts Part-I Accounting for shares
8.1 Share and share capital, Meaning, Nature and Types.
8.2 Accounting for Share Capital: Issue and Allotment of Equity Shares. Private placement of shares. Public subscription of shares. Oversubscription and Under subscription of shares. The issue at Par and premium, and at discount, Calls in advance in arrears, Issue of shares for consideration other than cash.
8.3 Accounting treatment of forfeiture and re-issue
8.4 Disclosure of Share capital in the Company's Balance Sheet (Horizontal form)
Company Accounts Part-II Accounting for Debentures
9.1 Debentures: Meaning, Issue of debentures at par, at a premium and at discount
9.2 Issue of debentures for consideration other than cash. Interest on Debentures.
Analysis of financial statements
10.1 Financial statement Analysis: meaning, objectives and limitations.
10.2 Tools for financial statement Analysis-meaning of comparative statements, common size statements, cash flow analysis, and Ratio analysis.
10.3 Accounting Ratios: Meaning of objectives and classification of Ratios.
10.4 Introductions to current ratio, liquid ratio, Gross profit ratio, operating profit ratio and Net profit ratio. ROI, ROCI
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