ASSEB Higher Secondary Accountancy study plan

Distinguish receipts and payments account from income and expenditure account by preparing both for a single club scenario

Compute subscription income for the year after adjusting outstanding, advance and previous-year dues

Prepare income and expenditure account and balance sheet of a not-for-profit organisation with donation, legacy and prize-fund items

Apply the profit-sharing ratio rules for partners in the absence of a deed and when the deed is silent on interest on capital

Pass opening journal entries for capital, drawings, interest on drawings and interest on capital in fixed and fluctuating capital accounts

Prepare profit and loss appropriation account with interest on capital, interest on drawings, salary, commission and transfer to reserve

Calculate interest on drawings under average period and product methods for equal and unequal monthly drawings

Compute sacrificing ratio and gaining ratio for admission and retirement scenarios

Draft revaluation account and partners' capital accounts on admission of a partner including goodwill raised and written off

Record goodwill treatment when the incoming partner brings goodwill in cash and when it is privately paid

Prepare capital accounts on retirement with revaluation, undistributed profit, goodwill and accumulated reserves

Compute the retiring partner's loan when the amount due is transferred instead of paid in cash

Pass journal entries on the death of a partner for the deceased partner's share of goodwill, profit up to the date of death and interest on capital

Calculate the deceased partner's share of profit using time basis and turnover basis

Prepare the executor's account showing the settlement schedule

Classify assets and liabilities as current or non-current when preparing the realisation account

Pass entries for realisation expenses, unrecorded assets taken over by a partner and insolvency of a partner under Garner v Murray

Prepare memorandum revaluation account where the revaluation account is not opened

Journalise issue of shares at par, at premium and at a discount with calls in arrears and calls in advance

Account for pro-rata allotment and forfeiture, then reissue forfeited shares at par and at a premium

Present share capital in the balance sheet of a company in the prescribed vertical format with notes to accounts

Distinguish authorised, issued, subscribed and paid-up capital and show calls in arrears as a deduction

Journalise issue of debentures at par, at premium and at discount, including debentures issued as collateral security

Record interest on debentures, tax deducted at source and payment to debenture holders

Prepare the debenture redemption reserve and sinking fund entries and explain the conditions for creating DRR

Distinguish redemption of debentures by lump sum, draw of lots, purchase in open market and conversion into shares

Compute the amount to be transferred to DRR and the investment required for redemption

Prepare the statement of profit and loss of a company in the prescribed format

Prepare the balance sheet with notes to accounts covering share capital, reserves, long-term borrowings and trade payables

Identify and correct at least eight common presentation errors in a company financial statement

Compute current ratio, quick ratio, debt-equity ratio, proprietary ratio and interest coverage from a given balance sheet

Compute gross profit ratio, operating ratio, net profit ratio, stock turnover and debtors turnover with interpretation of each movement

Classify cash flows into operating, investing and financing activities for a company

Prepare a cash flow statement using the indirect method with adjustments for depreciation, interest and tax

Reconcile the opening and closing cash and cash equivalents and explain non-cash transactions excluded from the statement

Select a project topic with a clear objective and outline the data collection method

Draft the project file structure: title page, acknowledgement, objective, methodology, analysis, conclusion and bibliography

Revise not-for-profit and reconstitution adjustments by re-solving two previously missed problems without notes

Attempt one full mock paper under strict three-hour conditions and mark it against the syllabus weightings

List your five weakest adjustment types and write a one-line correction rule for each