WB HS Accountancy study plan

Build a one-page formula sheet covering interest on capital, interest on drawings (average, product, and monthly methods), and profit-sharing ratios, then solve five numericals using it without notes.

Prepare the full set of partnership final accounts (P&L Appropriation Account and partners' capital and current accounts) for two cases: fixed capital and fluctuating capital.

Distinguish guaranteed profit, past adjustments, and omitted interest cases by writing the correcting journal entry logic for each in your own words.

Solve at least eight past-style questions on appropriation of profits, including one where a partner's salary exceeds available profit.

Compute new profit-sharing ratios, sacrificing ratios, and gaining ratios for five admission scenarios, including cases where the ratio is inferred from old shares.

Draft revaluation accounts and partners' capital accounts for admission with hidden goodwill, goodwill raised and written off, and goodwill adjusted through capital accounts.

Work through retirement and death cases: calculate the deceased partner's share of profit to date of death using time and turnover bases, and settle the executor's account.

Apply Section 37 of the Indian Partnership Act (6% interest on the deceased partner's loan) and distinguish it from interest on capital.

Solve at least two full-length reconstitution problems end to end, including balance sheet preparation after admission and after retirement.

Classify ten given situations as dissolution versus reconstitution and justify each classification in one line.

Prepare a realisation account with assets and liabilities taken over by a partner, expenses borne by the firm, and a partner's loan, in three separate problems.

Apply Garner v. Murray for an insolvent partner's deficiency, and handle an insolvent partner's capital account with the rule in that case.

Distinguish the accounting treatment of a firm's dissolution from that of a partner's insolvency, and list the order of settlement of liabilities.

Journalise issue of shares at par, at premium, and at a discount, including calls in arrears, calls in advance, and forfeiture and reissue of shares.

Compute the amount of securities premium and prepare the relevant notes for share capital in the balance sheet (authorised, issued, subscribed, and paid-up capital).

Prepare the debenture-related entries: issue at par and at discount, issue as collateral security, interest accrual, and writing off discount on issue.

Distinguish between shares and debentures, and between a debenture redemption reserve and a sinking fund, in a short comparison table.

Prepare a company's statement of profit and loss and balance sheet in the prescribed Schedule III format for one given trial balance.

Compute the key items requiring separate disclosure: revenue from operations, other income, employee benefit expense, finance cost, and PPE.

Draft the notes to accounts for share capital, reserves and surplus, long-term borrowings, and trade payables for the same trial balance.

Reconcile a company's profit before tax from the statement of profit and loss with the retained earnings movement in reserves and surplus.

Compute the full ratio set (liquidity, solvency, activity, and profitability) from one set of company financial statements and interpret each result in one sentence.

Explain the meaning and significance of each ratio category and identify which ratios a lender, a shareholder, and a supplier would prioritise.

Prepare a common-size and comparative statement of profit and loss from two years of data, and identify the two largest drivers of change.

Solve at least three interpretation questions where a ratio must be derived from given data (for example, deriving current liabilities from the current ratio and working capital).

Prepare a cash flow statement under the indirect method for a company, classifying operating, investing, and financing activities and adjusting for non-cash items and working capital changes.

Handle tricky cash flow items: tax paid, interest paid and received, dividends, sale of fixed assets, and purchase of fixed assets during the year.

Prepare the receipts and payments account, income and expenditure account, and balance sheet for a not-for-profit organisation, including subscription adjustments and capital fund.

Distinguish between the receipts and payments account and the income and expenditure account, and treat donations, legacies, and specific-purpose funds correctly.

Finalise the project file's structure: title page, objectives, methodology, data presentation, analysis, conclusion, and acknowledgements, with a list of all statements to be included.

Complete the project's accounting work (partnership or company accounts, plus ratio or cash flow analysis) and verify every total ties to its balance sheet.

Take two timed mixed-topic tests of 60 minutes each covering partnership fundamentals and reconstitution, and review every error.

Revise the formula sheet and comparison tables from weeks 1-3, and write down the five adjustments you most often miss.