Class 12 Accounts SESSION 2022-23 – Complete course for FREE – Full Course in 18 HOURS by GAURAV JAIN

Class 12 Accountancy complete course session 2022-23

Class 12 Accounts – Complete course for FREE – Full Course in 18 HOURS

This playlist includes complete course of class 12 accountancy for New session 

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Unit 1: Financial Statements of Not-for-Profit Organizations

Units/Topics

– 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.

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Unit-2: Accounting Process

Units/Topics

– Partnership: features, Partnership Deed.

– Provisions of the Indian Partnership Act 1932 in the absence of partnership deed.

– Fixed v/s fluctuating capital accounts. Preparation of Profit and Loss Appropriation account- division of profit among partners, guarantee of profits.

– Past adjustments (relating to interest on capital, interest on drawing, salary and profit sharing ratio).

– Goodwill: nature, factors affecting and methods of valuation – average profit, super profit and capitalization.

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Accounting for Partnership firms – Reconstitution and Dissolution.

– 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.

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.

– Retirement and death of a partner: effect of retirement / death 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 and preparation of balance sheet. Preparation of loan account of the retiring partner.

– Calculation of deceased partner’s share of profit till the date of death. Preparation of deceased partner’s capital account and his executor’s account.

– Dissolution of a partnership 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)).

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Unit-3 Accounting for Companies

Units/Topics

Accounting for Share Capital

– Share and share capital: nature and types.

– Accounting for share capital: issue and allotment of equity and preferences shares. Public subscription of shares – over subscription and under subscription of shares; issue at par and at premium, calls in advance and arrears (excluding interest), issue of shares for consideration other than cash.

– Concept of Private Placement and Employee Stock Option Plan (ESOP).

– Accounting treatment of forfeiture and reissue of shares.

– Disclosure of share capital in the Balance Sheet of a company.

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Accounting for Debentures

– Debentures: Issue of debentures at par, at a premium and at a discount. Issue of debentures for consideration other than cash; Issue of debentures with terms of redemption; debentures as collateral security concept, interest on debentures. Writing off discount / loss on issue of debentures.

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Unit 4: Analysis of Financial Statements

Units/Topics

– Financial statements of a Company: Statement of Profit and Loss and Balance Sheet in prescribed form with major headings and sub headings (as per Schedule III to the Companies Act, 2013)

Note: Exceptional items, extraordinary items and profit (loss) from discontinued operations are excluded.

– Financial Statement Analysis: Objectives, importance and limitations.

– Tools for Financial Statement Analysis: Comparative statements, common size statements, cash flow analysis, ratio analysis.

– Accounting Ratios: Meaning, Objectives, classification and computation.

– Liquidity Ratios: Current ratio and Quick ratio.

– Solvency Ratios: Debt to Equity Ratio, Total Asset to Debt Ratio, Proprietary Ratio and Interest Coverage Ratio.

– Activity Ratios: Inventory Turnover Ratio, Trade Receivables Turnover Ratio, Trade Payables Turnover Ratio and Working Capital Turnover Ratio.

Profitability Ratios: Gross Profit Ratio, Operating Ratio, Operating Profit Ratio, Net Profit Ratio and Return on Investment

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Unit 5: Cash Flow Statement

Units/Topics- Meaning, objectives and preparation (as per AS 3 (Revised) (Indirect Method only)

About Gaurav Jain:

Gaurav Jain is an Commerce Educator,Having more than 7 yrs. Exp. of teaching.

➤ Follow Gaurav Jain on Unacademy: https://unacademy.com/@gauravjain1112

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In this 5 minutes BST series Gaurav Sir will be covering the following topics

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