Project Work and Internal Assessment
What is assessed
Internal assessment carries 20 marks in the Senior Secondary Accountancy examination. It covers a project file of roughly 20-25 pages and a viva, so a documented file with clear analysis matters as much as the numbers.
Structure that scores
Statement of purpose and title; introduction to the firm and the accounting period; data drawn from the firm's Trial Balance and financial statements; the analysis; findings and conclusion; acknowledgements and bibliography. Number every statement and make every figure traceable to a source document.
Suitable analysis
A comprehensive project usually takes a sole proprietorship's statements and computes ratios (current, quick, debt-equity, inventory turnover, gross profit and net profit), a comparative or common-size statement, and a cash flow statement. Present ratios in a table with formula, working and interpretation.
Worked example
Current assets ₹4,50,000, inventory ₹1,80,000, current liabilities ₹1,50,000. Current ratio = 3:1; quick ratio = (4,50,000 − 1,80,000) ÷ 1,50,000 = 1.8:1. The interpretation must explain what the movement from the previous year means for liquidity rather than restating the figure.
Traps
Submitting copied material; totals that do not agree with the attached statements; ratios without interpretation; and an unstated formula that the examiner cannot verify at the viva.