Accountancy

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CUET Syllabus Accountancy
Note: There will be one Question Paper which will have 50 questions out of which 40 questions need to be attempted.

CUET 2024 + 12th Class Board

Unit I: Accounting Not-for-Profit Organisation

  • Not-for-profit organization: Meaning and Examples.
  • Receipts and Payments: Meaning and Concept of fund-based and non-fund-based accounting.
  • Preparation of Income and Expenditure Account and Balance sheet from receipt and payment account with additional information.

Unit II: Accounting for Partnership

  • Nature of Partnership Firm: Partnership deed (meaning, importance).
  • Final Accounts of Partnership: Fixed v/s Fluctuating capital, Division of profit among partners,Profit, and Loss Appropriation account.

Unit III: Reconstitution of Partnership

Changes in profit sharing ratio among the existing partners – Sacrificing ratio and Gaining ratio.

  • Accounting for Revaluation of Assets and Liabilities and Distribution of reserves and accumulated profits.
  • Goodwill: Nature, Factors affecting and Methods of valuation: Average profit, Super profit, Multiplier, and Capitalisation methods.
  • Admission of a Partner: Effect of admission of a partner, Change in profit sharing ratio, the Accounting treatment for goodwill, Revaluation of assets and liabilities, Reserves (accumulated profits), and Adjustment of capitals.
  • Retirement/Death of a Partner: Change in profit sharing ratio, Accounting treatment of goodwill, Revaluation of assets and liabilities, Adjustment of accumulated profits (Reserves).

Unit IV: Dissolution of Partnership Firm

  • Meaning, Settlement of accounts: Preparation of realization account and related accounts (excluding piecemeal distribution, sale to a company and insolvency of a Spartner)

Company Accounts and Financial Statement Analysis

Unit V: Accounting for Share and Debenture Capital

  • Share Capital: Meaning, Nature and Types.
  • Accounting for Share Capital: Issue and Allotment of Equity and Preference Shares; Over subscription and Under subscription; Issue at par, premium and at discount; Calls in advance, Calls in arrears, Issue of shares for consideration other than cash.
  • Forfeiture of Shares: Accounting treatment, Re-issue of forfeited shares
  • Presentation of shares and Debentures Capital in the company’s balance sheet
  • Issue of Debenture – At par, premium, and discount; Issue of debentures for considerationother than cash.
  • Redemption of the debenture.
  • Out of proceeds of fresh issue, accumulated profits, and sinking fund

Unit VI: Analysis of Financial Statements

  • Financial Statements of a Company: Preparation of simple financial statements of a companyin the prescribed form with major headings only.
  • Financial Analysis: Meaning, Significance, Purpose, Limitations
  • Tools for Financial Analysis: Comparative statements, Common size statements.
  • Accounting Ratios: Meaning and Objectives, Types of ratios:
    Liquidity Ratios: Current ratio, Liquidity ratio.
    Solvency Ratio: Debt to equity, Total assets to debt, Proprietary ratio. Activity Ratio: Inventory turnover, Debtors turnover, Payables turnover, Working capital turnover, Fixed assets turnover, Current assets turnover.
    Profitability Ratio: Gross profit, Operating ratio, Net profitratio, Return on Investment, Earningper Share, Dividend per Share, Profit Earning ratio.

Unit VII: Statement of Changes in Financial Position

  • Cash Flow Statement: Meaning and Objectives, Preparation, Adjustments related to depreciation, dividend and tax, sale and purchase of non-current assets (as per revised standard issued by ICAI).

Computerized Accounting System

Unit I: Overview of Computerised Accounting System

  • Concept and Types of Computerised Accounting System (CAS).
  • Features of a Computerised Accounting System.
  • Structure of a Computerised Accounting System.

Unit II: Using Computerised Accounting System

  • Steps in the installation of CAS, Preparation of chart of accounts, Codification, and Hierarchy of account heads.
  • Data entry, Data validation, and Data verification
  • Adjusting entries, Preparation of financial statements, Closing entries, and Opening entries.
  • Security of CAS and Security features are generally available in CAS (Students are expected tounderstand and practice the entire accounting process using an accounting package.)

Unit III: Accounting Using Database Management System (DBMS)

  • Concepts of DBMS.Objects in DBMS: Tables, Queries, Forms, Reports.
  • Creating data tables for accounting
  • Adjusting entries, Preparation of financial statements, Closing entries, and Opening entries.
  • Using queries, forms, and reports for generating accounting information. Applications of DBMS in generating accounting information such as shareholders’ records, sales reports, customers’ profiles,suppliers’ profiles payroll, employees’ profiles, and petty cash registers.

Unit IV: Accounting Applications of Electronic Spreadsheet

  • Concept of an Electronic Spreadsheet (ES).
  • Features offered by Electronic Spreadsheet.
  • Adjusting entries, Preparation of financial statements, Closing entries, and Opening entries.
  • Applications of Electronic Spreadsheet in generating accounting information, preparing depreciation schedules, loan repayment schedules, payroll accounting, and other such company

CUET 2025 + 11th Class Board

Unit I: Theoretical Framework

  • Accounting – concept, meaning, as a source of information, objectives, advantages and limitations, types of accounting information; users of accounting information and their needs. Qualitative Characteristics of Accounting Information. Role of Accounting in Business.
  • Basic Accounting Terms – Entity, Business Transaction, Capital, Drawings. Liabilities (Non Current and Current). Assets (Non Current, Current); Expenditure (Capital and Revenue), Expense, Revenue, Income, Profit, Gain, Loss, Purchase, Sales, Goods, Stock, Debtor, Creditor, Voucher, Discount (Trade discount and Cash Discount)
  • Fundamental accounting assumptions: GAAP: Concept Basic accounting concept: Business Entity, Money Measurement, Going Concern, Accounting Period, Cost Concept, Dual Aspect, Revenue Recognition, Matching, Full Disclosure, Consistency, Conservatism, Materiality and Objectivity
  • System of Accounting. Basis of Accounting: cash basis and accrual basis Accounting Standards: Applicability in IndAS Goods and Services Tax (GST): Characteristics and Advantages.

Unit II: Accounting Process

  • Voucher and Transactions: Source documents and Vouchers, Preparation of Vouchers, Accounting Equation Approach: Meaning and Analysis, Rules of Debit and Credit. Recording of Transactions: Books of Original Entry- Journal Special Purpose books Cash Book: Simple, cash book with bank column and petty cashbook Purchases book Sales book Purchases return book Sales return book Journal proper
  • Ledger: Format, Posting from journal and subsidiary books, Balancing of accounts Bank Reconciliation Statement: Need and preparation, Bank Reconciliation Statement Depreciation, Provisions and Reserves Depreciation: Meaning, Features, Need, Causes, factors Other similar terms: Depletion and Amortisation Methods of Depreciation: Straight Line Method (SLM) Written Down Value Method (WDV) Difference between SLM and WDV; Advantages of SLM and WDV Method of recoding depreciation Charging to asset account Creating provision for depreciation/accumulated depreciation account Treatment of disposal of asset Provisions, Reserves, Difference Between Provisions and Reserves. Types of Reserves: Revenue reserve Capital reserve General reserve Specific reserve Secret Reserve Difference between capital and revenue reserve
  • Fundamental accounting assumptions: GAAP: Concept Basic accounting concept: Business Entity, Money Measurement, Going Concern, Accounting Period, Cost Concept, Dual Aspect, Revenue Recognition, Matching, Full Disclosure, Consistency, Conservatism, Materiality and Objectivity
  • Trial balance: objectives, meaning and preparation Errors: classification-errors of omission, commission, principles, and compensating; their effect on Trial Balance. Detection and rectification of errors; Errors which do not affect trial balance Errors which affect trial balance Preparation of suspense account.

Unit III: Financial Statements of Sole Proprietorship

  • Meaning, objectives and importance; Revenue and Capital Receipts; Revenue and Capital Expenditure; Deferred Revenue expenditure. Opening journal entry. Trading and Profit and Loss Account: Gross Profit, Operating profit and Net profit. Preparation.
  • Balance Sheet: need, grouping and marshalling of assets and liabilities. Preparation. Adjustments in preparation of financial statements with respect to closing stock, outstanding expenses, prepaid expenses, accrued income, income received in advance, depreciation, bad debts, provision for doubtful debts, provision for discount on debtors, Abnormal loss, Goods taken for personal use/staff welfare, interest on capital and managers commission.
  • Preparation of Trading and Profit and Loss account and Balance Sheet of a sole proprietorship with adjustments.