UPMSP Intermediate Accountancy study plan

State and apply the accounting equation to ten fresh transaction sets, showing the effect of each transaction on assets, liabilities and capital

Classify twenty accounts as personal, real or nominal and state the rule of debit and credit for each without consulting notes

Distinguish accrual, cash and hybrid bases of accounting and identify the assumption, principle or convention violated in eight short scenarios

Summarise the purpose of any four Accounting Standards (for example AS 1, AS 2, AS 6, AS 9, AS 10) in two lines each, noting what disclosure or measurement they require

Journalise forty mixed transactions covering purchases and sales with GST, returns, trade and cash discounts, bad debts and capital introduced

Post every journal entry to the correct ledger account and balance off each account at month end

Prepare a trial balance from a balanced ledger and locate and correct five deliberately planted errors

Apply the suspense account to rectify one-sided errors and distinguish errors of principle, omission, commission and compensating errors

Draft the profit and loss appropriation account and partners' capital and current accounts under both fixed and fluctuating capital methods

Calculate interest on capital, interest on drawings using the product method, and salary or commission payable to a partner where the deed is silent

Solve four admission problems computing the sacrificing ratio, new profit-sharing ratio, goodwill raised and written off, and revaluation of assets and liabilities

Compute gaining ratio on retirement, transfer the retiring partner's share of goodwill, and settle the retiring partner's loan account

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

Distinguish reconstitution from dissolution and list the adjustments required in each case

Prepare a revaluation account and a realisation account for two full problems, recording the treatment of unrecorded assets, goodwill, accumulated reserves and partner loans

Apply the Garner v. Murray rule where a partner is insolvent and distribute cash among partners in the correct order

Draft a memorandum revaluation account and a balance sheet after reconstitution to verify that the books still balance

Compute depreciation under straight-line, diminishing-balance and units-of-production methods for the same asset and reconcile the three closing book values

Prepare the asset account, provision for depreciation account and asset disposal account for a sale of an asset mid-life

Distinguish provisions, reserves, secret reserves and capital reserves, and create a provision for doubtful debts from a given ageing schedule

Record the drawing, acceptance, discounting, endorsement and dishonour of a bill of exchange with noting charges, and compute the rebate on renewal

Prepare a trading and profit and loss account and balance sheet from a trial balance with at least eight adjustments, including closing stock, outstanding expenses, prepaid expenses, depreciation, bad debts, interest on capital and goods taken by the proprietor

Reconcile a bank statement with the cash book across ten items, including cheques deposited but not cleared, cheques issued but not presented, bank charges, direct deposits and dishonoured cheques

Adjust the cash book where the starting point is the bank statement rather than the cash book and explain why the balance differs

Prepare an adjusted trial balance and show how each adjustment gives rise to two effects

Journalise the issue of shares at par and at a premium, including application, allotment and calls, and handle oversubscription and pro-rata allotment

Record calls in arrears, calls in advance, forfeiture of shares and reissue of forfeited shares at par and at a discount

Present the share capital in the balance sheet in the prescribed form, distinguishing authorised, issued, subscribed, called-up and paid-up capital

Journalise the issue of debentures at par, at a premium and at a discount, as collateral security, and record interest on debentures and writing off discount or loss on issue

Compute and interpret liquidity, solvency, activity and profitability ratios from a given balance sheet and comment on each result in one line

Prepare a cash flow statement under the indirect method from a comparative balance sheet, adjusting for depreciation, profit on sale of assets and changes in working capital

Classify ten transactions as operating, investing or financing activities and justify each classification

Revise the full syllabus with a 30-question rapid recall drill and list the five formulas or rules most often forgotten