KSEAB II PUC Accountancy study guide
KSEAB II PUC Accountancy · Work through your exam, one topic at a time.
The KSEAB II PUC Accountancy examination is the Karnataka School Examination and Assessment Board's Class 12 paper in Accountancy, taken by pre-university students at the end of their second year. It is a board-conducted written examination, and its result is used for progression to commerce and management degrees and as a record of senior-secondary achievement. The KSEAB II PUC Accountancy study guide has 10 sections and about 2,682 words.
01Accounting for Partnership Firms: Fundamentals
Accounting for Partnership Firms: Fundamentals tests whether you can apply a partnership deed, maintain partners' capital and current accounts, and distribute profit through the Profit and Loss Appropriation Account. Core rules: without a deed, profits and losses are shared equally, no interest on capital or drawings is allowed, and no salary is paid; interest on a partner's loan is 6% p.a.
294 words, about 1 min02Reconstitution of Partnership: Admission, Retirement and Death of a Partner
Admission, retirement and death of a partner test journal entries and balance sheet adjustments for capital, goodwill, revaluation, reserves and the new profit-sharing ratio. A new partner acquires a share from old partners; the sacrifice ratio is old share minus new share.
278 words, about 1 min03Dissolution of Partnership Firms
Dissolution tests preparation of the Realisation Account, settlement of liabilities and partners' claims, and separation of firm dissolution from legal dissolution. On dissolution, all assets except cash and bank and fictitious assets are transferred to Realisation at book value; outside liabilities are transferred to its credit.
276 words, about 1 min04Accounting for Share Capital
Accounting for Share Capital tests issue of shares at par, premium and discount, calls, pro-rata allotment, forfeiture and reissue, and presentation of share capital. Share capital is credited with face value only; premium goes to Securities Premium.
304 words, about 2 min05Issue and Redemption of Debentures
Issue and Redemption of Debentures tests debentures as loan capital, issue at par, premium or discount, interest, and redemption by lump sum, draw of lots, open-market purchase or conversion. Debenture interest is a charge against profit, not an appropriation.
257 words, about 1 min06Financial Statements of Companies
Financial Statements of Companies tests the Statement of Profit and Loss and Balance Sheet in prescribed form, classification of revenue and expenses, reserves and surplus, and notes to accounts. Revenue from operations is shown separately from other income.
255 words, about 1 min07Analysis of Financial Statements: Comparative and Common-Size Statements
Comparative and Common-Size Statements test horizontal and vertical analysis. Comparative statements show changes in absolute amounts and percentages from a base year.
271 words, about 1 min08Accounting Ratios
Accounting Ratios tests liquidity, solvency, activity and profitability ratios, their formulas and interpretation. Current ratio = current assets / current liabilities.
239 words, about 1 min09Cash Flow Statement
Cash Flow Statement tests AS-3 classification into operating, investing and financing activities using the indirect method. Start with net profit before tax, add back non-cash and non-operating charges such as depreciation, then adjust working capital changes.
257 words, about 1 min10Computerised Accounting System
Computerised Accounting System tests how accounting software records transactions, processes ledgers, generates reports and controls data. Core features include a chart of accounts, unique ledger codes, voucher entry, automatic posting, database storage, trial balance and financial statements.
251 words, about 1 min