BSEH SS Accountancy study plan

Build a one-page formula sheet covering profit-sharing ratio, sacrificing ratio, interest on capital and drawings, and guaranteed minimum profit.

Solve 10 problems on distribution of profit when the deed is silent versus when the deed specifies salary, interest on capital and interest on drawings.

Prepare the Profit and Loss Appropriation Account and Partners' Capital and Current Accounts for 3 full partnership scenarios, including one with a guaranteed minimum profit.

Write out the journal entries for interest on drawings and for a partner's commission, then explain in two sentences why each entry is needed.

Compute new profit-sharing ratios and sacrificing ratios for 6 admission scenarios, including cases where the incoming partner acquires shares from one partner only.

Draft the journal entries for goodwill under both the premium method and the revaluation method, and state when each is used.

Revalue assets and liabilities on admission and post the resulting entries to the Revaluation Account.

Reconcile the old and new balance sheets after admission to confirm total capital equals total assets minus outside liabilities.

Calculate gaining ratios and adjust goodwill for 4 retirement scenarios, including one where goodwill is raised and written off immediately.

Distribute the retiring partner's share of accumulated reserves, revaluation profit and goodwill using the correct ratios.

Prepare the deceased partner's executor's account, including interest on capital up to the date of death and the share of profit for the elapsed period.

Settle the retiring partner's loan account and show the instalment entries across two years.

Distinguish dissolution of a firm from dissolution of a partnership and list the order in which assets are applied on dissolution.

Pass journal entries for realisation of assets, payment of liabilities, realisation expenses and the Realisation Account.

Prepare a Realisation Account and the partners' capital accounts for 2 dissolution cases, including one with an insolvent partner and the Garner v. Murray rule.

Explain in writing how a partner's loan differs from a partner's capital on dissolution and how each is settled.

Journalise the issue of shares at par, at a premium and at a discount, and record calls in arrears and calls in advance.

Account for over-subscription and pro-rata allotment across 3 scenarios, including refund of excess application money.

Record the forfeiture of shares issued at par and at a premium, then reissue the forfeited shares at par and at a discount.

Prepare the Share Capital note showing authorised, issued, subscribed and paid-up capital in the prescribed format.

Journalise the issue of debentures at par, at a premium and at a discount, and record debentures issued as collateral security.

Compute the amount transferred to the Debenture Redemption Reserve and the investment required under the relevant rules, then record redemption by annual draw of lots and by open-market purchase.

Prepare the Statement of Profit and Loss and the Balance Sheet in Schedule III format for one company from a given trial balance.

Classify items correctly between current and non-current, and between the notes on share capital, reserves and borrowings.

Compute liquidity, solvency, activity and profitability ratios from a given balance sheet and interpret each result in one sentence.

Prepare a Cash Flow Statement under the indirect method, adjusting for depreciation, interest, tax and working capital changes.

Reconcile net profit to cash from operations and verify that the closing cash balance in the statement agrees with the balance sheet.

Identify 5 common errors in ratio and cash flow questions and state the check that catches each one.

Complete 2 full-length mock papers under exam timing and score each against the official marking pattern.

Revise the formula sheet and error logs from weeks 1 to 7, re-solving only the questions previously marked wrong.

Finalise the project file: state the objective, present the data, show the ratio or cash flow analysis, and write the conclusion and limitations.

Draft the viva answers for 10 likely questions on your project's method and findings.