PSEB SS Accountancy study plan

Build a one-page formula sheet for partnership fundamentals: interest on capital and drawings, salary and commission to partners, and division of profit in the absence of a deed.

Prepare the Profit and Loss Appropriation Account and Partners' Capital Accounts for three practice sets, one with a fluctuating capital method and one with fixed capital accounts.

Compute interest on drawings using both the average-period method and the product method, and reconcile the two answers for the same set of drawings.

Draft journal entries for the transfer of divisible profit and for the correction of an omitted interest on capital adjustment, then explain each entry in one sentence.

Solve guaranteed-minimum-profit cases where one partner's share falls short and the deficiency is borne by the others in a stated ratio.

Record entries for a partner's loan to the firm and for advances when the deed is silent, applying the correct interest treatment.

Prepare the adjustment entries for past omissions and errors discovered after the books are closed, including interest on capital and drawings.

Reconstruct a partner's capital account from incomplete records given opening capital, drawings, and closing capital.

Compute the new profit-sharing ratio and sacrificing ratio when a new partner is admitted, and verify that the sum of sacrifice equals the new partner's share.

Prepare the Revaluation Account, Partners' Capital Accounts, and the opening Balance Sheet after admission, including unrecorded assets and liabilities.

Journalise goodwill on admission under both the premium method and the revaluation method, and state when each is used.

Adjust accumulated reserves, revaluation profits, and fictitious assets among old partners in their old ratio.

Calculate the gaining ratio on retirement or death and pass the goodwill entries when goodwill is raised, written off, or adjusted through capital accounts.

Prepare the retiring or deceased partner's capital account, including interest on capital and drawings up to the date of exit.

Compute the deceased partner's share of profit to the date of death using the time basis and the turnover basis, and compare both figures.

Settle the amount due to a retiring partner through a loan account and record the annual instalment with interest.

Journalise the issue of shares at par and at a premium, including application, allotment, and calls, and handle over-subscription with pro-rata allotment.

Record calls in arrears and calls in advance, and compute the interest payable on calls in advance.

Forfeit shares after non-payment and reissue them at par, at a discount, and at a premium, transferring the correct amount to the Capital Reserve.

Distinguish between the Authorised, Issued, Subscribed, and Called-up capital headings and present them in the prescribed balance-sheet order.

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

Prepare the interest on debentures account with TDS where applicable, and record the year-end accrual.

Write off a discount on issue of debentures using the fixed-instalment method and the fluctuating-instalment method, and compare the two schedules.

Record the redemption of debentures by instalments, by draw of lots, by open-market purchase, and by conversion into shares.

Prepare a Receipts and Payments Account from a given cash summary and convert it into an Income and Expenditure Account.

Classify items correctly as capital or revenue for a not-for-profit organisation, including donations, legacies, life-membership fees, and special-fund grants.

Prepare the Balance Sheet of a not-for-profit organisation with opening and closing balances of subscriptions, including arrears and advance subscriptions.

Prepare the company's Statement of Profit and Loss and Balance Sheet in the prescribed format, and compute the relevant ratios from it.

Complete two full-length timed mock papers covering all four domains and record the score for each domain separately.

Rework every question missed in the mocks until you can solve it without notes, and tag each error as conceptual, computational, or presentation-related.

Revise your formula sheet, journal-entry summaries, and the prescribed formats for the Income and Expenditure Account and the company Balance Sheet.

Drill the highest-weight topics (partnership fundamentals, reconstitution, and share capital) with 20 rapid-fire entries and ratio computations.