CHSE Odisha Elective Accountancy study plan
CHSE Odisha Elective Accountancy · Give each week a clear focus.
8 weeks · About 6 hours per week
Accounting for Partnership Firms: Fundamentals, Admission, Retirement, and Death
Explain the meaning and features of a partnership and prepare the Profit and Loss Appropriation Account.
Prepare Partners' Capital Accounts (fixed and fluctuating) and Current Accounts.
Calculate interest on capital, interest on drawings, and salary/commission to partners.
Prepare the necessary accounts when a partner is admitted, including sacrificing ratio and goodwill treatment.
Your checkpoint
Solve 5 comprehensive problems covering admission of a partner and submit step-by-step solutions with working notes.
Accounting for Partnership Firms: Fundamentals, Admission, Retirement, and Death
Prepare the revaluation account and balance sheet after admission of a partner.
Compute the new profit-sharing ratio and sacrificing ratio when a partner retires or dies.
Prepare the deceased partner's capital account including share of profit till date of death.
Record the settlement of a retiring partner's account under different modes of payment.
Your checkpoint
Complete a case study on retirement and death of a partner, including all journal entries and ledger accounts.
Accounting for Share Capital and Debentures
Journalize the issue of shares at par, premium, and discount, including calls-in-arrears and calls-in-advance.
Prepare the Share Capital Account and Securities Premium Account.
Record the forfeiture of shares and reissue of forfeited shares.
Explain the issue of debentures as collateral security and prepare related journal entries.
Your checkpoint
Create a 20-entry journal problem set on share capital and debentures with answer key.
Financial Statements of Sole Proprietorship (with adjustments)
Prepare the Trading and Profit & Loss Account and Balance Sheet of a sole proprietor from a given trial balance.
Adjust closing stock, outstanding expenses, prepaid expenses, depreciation, and bad debts.
Prepare the adjusted trial balance and show the effect of adjustments on the final accounts.
Compute the cost of goods sold and gross profit ratio from given data.
Your checkpoint
Produce a complete set of final accounts with 10 adjustments, ensuring the balance sheet tallies.
Recording of Transactions: Journal, Ledger, and Trial Balance & Bank Reconciliation Statement and Rectification of Errors
Record transactions in the journal, post to ledger accounts, and prepare a trial balance.
Prepare a bank reconciliation statement starting from the cash book or pass book balance.
Identify and rectify errors of omission, commission, principle, and compensating errors.
Prepare a suspense account and pass rectification entries.
Your checkpoint
Complete 5 exercises on rectification of errors and 3 BRS problems with full workings.
Reconstitution and Dissolution of Partnership Firms & Depreciation, Provisions, and Reserves
Prepare the necessary accounts on reconstitution of a partnership firm, including revaluation and distribution of reserves.
Record the dissolution of a partnership firm, including realization account and settlement of liabilities.
Calculate depreciation using straight-line and written-down value methods.
Distinguish between provisions and reserves and create the necessary accounts.
Your checkpoint
Solve 3 dissolution problems and 2 depreciation problems, showing all ledger accounts and the balance sheet.
Bills of Exchange and Promissory Notes & Accounting Fundamentals and Theory Base of Accounting
Record the accounting treatment of bills of exchange, including discounting, endorsement, and dishonour.
Prepare the bills receivable and bills payable books and the accommodation bill entries.
Explain the accounting concepts, conventions, and the theory base of accounting.
Apply the matching principle, accrual concept, and going concern assumption to given scenarios.
Your checkpoint
Write a one-page summary of accounting concepts and solve 5 bill of exchange problems.
Financial Statement Analysis and Ratio Analysis & Cash Flow Statement
Compute and interpret liquidity, solvency, activity, and profitability ratios.
Prepare a cash flow statement using the indirect method as per AS-3 (revised).
Analyze financial statements using comparative and common-size statements.
Revise all domains through a timed mock test and review weak areas.
Your checkpoint
Complete a full-length mock exam (3 hours) and score at least 70%, then list five areas for final revision.
Milestones
Week 2: Can independently solve a partnership admission and retirement problem with correct distribution of profit and goodwill within 45 minutes.
Week 4: Can prepare final accounts with adjustments and reconcile the balance sheet without errors.
Week 6: Can pass rectification entries, prepare BRS, and handle dissolution and depreciation accounts accurately.
Week 8: Achieve at least 70% on a full-length mock test covering all domains, with no section below 50%.