Odisha CHSE +2 Vocational Accounting and Auditing study plan

State the meaning of each accounting concept and convention (going concern, accrual, matching, consistency, prudence, materiality, money measurement) and give one CHSE-style example of each in a sole trader's books.

Apply the accounting equation to ten fresh transactions, showing the effect on assets, liabilities and capital after each one, and check that the equation balances every time.

Journalise twenty mixed transactions covering cash, credit, discount, returns and bad debts, then post every entry to the relevant ledger account.

Extract a trial balance from the ledgers you have posted and identify which of the given errors would and would not be disclosed by it.

Prepare a trading account and profit and loss account from a simple list of balances, placing each item on the correct side.

Prepare a manufacturing account showing raw material consumed, direct wages, factory overheads and the cost of production, then carry the figure into the trading account.

Prepare a balance sheet in both liquidity order and permanence order from the same trial balance to confirm the totals agree either way.

Record transactions in the purchase book, sales book, purchase return book, sales return book, cash book and journal proper, and post the totals to the ledgers.

Draw up a three-column cash book with cash, bank and discount columns and reconcile its bank column with the pass book.

Prepare a bank reconciliation statement from a given cash book and pass book, adjusting for cheques issued but not presented, cheques deposited but not credited, bank charges, interest and direct deposits.

Pass the six common year-end adjustments (closing stock, outstanding expenses, prepaid expenses, accrued income, income received in advance, depreciation) and show exactly where each appears in the final accounts twice.

Compute closing stock, gross profit and net profit after adjustments and explain why each adjustment touches two accounts.

Create provision for doubtful debts and provision for discount on debtors, and show how a bad debt written off affects the provision.

Calculate depreciation under straight line and written down value methods for the same asset over four years and compare the two totals.

Distinguish between a reserve and a provision and prepare the profit and loss appropriation section of a sole trader showing transfer to general reserve.

Solve one full problem with adjustments, including goods drawn by the proprietor and goods given as free samples.

Draw a bill of exchange and a promissory note and label the drawer, drawee, payee, acceptor, tenure, due date and days of grace.

Journalise the four standard bill transactions (drawing, acceptance, discounting, collection on maturity) in the books of both parties.

Record dishonour of a bill with noting charges, renewal with interest, and retirement before due date at a rebate.

Prepare a bills receivable book and bills payable book and reconcile them with the relevant ledger accounts.

Set up a new partner's capital account on admission, covering goodwill, revaluation of assets and liabilities, and adjustment of reserves.

Prepare a revaluation account and partners' capital accounts when a partner retires, and calculate the gaining ratio.

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

Distribute goodwill among the remaining partners in the correct ratio on admission, retirement and death, and state the reason for the ratio used.

Prepare a realisation account on dissolution and distribute the surplus or deficiency among partners in their profit sharing ratio.

Apply the Garner versus Murray rule where the partnership deed is silent and show the deficiency borne by the solvent partner.

Distinguish between dissolution of partnership and dissolution of a firm and list the liabilities settled in order.

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

Forfeit shares on non-payment of calls and reissue them at a discount, showing the amount transferred to capital reserve.

Issue debentures at par, at a premium and at a discount, and record interest on debentures and the writing off of discount on issue.

Prepare the company's statement of profit and loss and balance sheet in the prescribed schedule form, distinguishing share capital, reserves and surplus, and secured and unsecured loans.

Compute the amount of securities premium usable and state the purposes for which it may be applied.

Define auditing and state its objectives, distinguishing the primary objective from the secondary objectives such as detection of fraud and error.

Compare the main types of audit (statutory, internal, external, government, continuous, periodical, final, cost, tax, management) on the basis of who appoints, scope and reporting.

Draft an audit programme for a small trading firm with at least ten steps and state two advantages and two limitations of a fixed programme.

Design an internal check system for cash receipts and cash payments and explain how internal control differs from internal check.

Vouch cash sales, credit sales, purchases, wages and rent, listing the documentary evidence required for each.

Verify and value the main assets (land and building, plant, stock, debtors, investments, cash) and state the basis of valuation for each.

State the qualifications and disqualifications of a company auditor and describe how the first auditor, subsequent auditor and auditor of a government company are appointed.

Explain the powers and statutory duties of an auditor, including the contents of the auditor's report under the Companies Act.

Distinguish civil liability from criminal liability and list the circumstances in which an auditor may be held liable for negligence.

Classify audit evidence as documentary, oral, internal and external, and rank the reliability of each.

Write a clean and a qualified audit report for a given situation and justify why the qualification is needed.