Table of Contents
Introduction
Accounting is the process of recording, summarizing, and interpreting financial transactions. It is an essential tool for businesses of all sizes, as it provides information about their financial performance and position. The CUET Accountancy syllabus covers the fundamental concepts of accounting, such as double-entry bookkeeping, financial statements, and auditing. It also introduces students to the use of computerized accounting systems.
The syllabus is divided into 11 units, each of which covers a specific topic in accounting. The first unit introduces the basic concepts of accounting, such as debits and credits, assets, liabilities, and equity. The second unit discusses the preparation of financial statements, such as the balance sheet, income statement, and statement of cash flows. The third unit covers the concepts of auditing, which is the process of examining financial statements to ensure that they are accurate and fair.The remaining units of the syllabus cover more advanced topics in accounting, such as cost accounting, managerial accounting, and taxation. The syllabus also includes a unit on using a computerized accounting system. The CUET Accountancy syllabus is designed to provide students with a comprehensive understanding of the fundamentals of accounting. It is a valuable resource for students who are interested in pursuing a career in accounting or finance.
Accountancy Syllabus CUET 2023
Unit I: Accounting Not-for-Profit Organisation
- Receipts and Payments: Meaning and Concept of fund-based and non-fund-based accounting.
- Preparation of Income and Expenditure Account and Balance sheet from receipt and payment account with additional information.
- Not-for-profit organization: Meaning and Examples.
Unit II: Accounting for Partnership
- Nature of Partnership Firm: Partnership deed (meaning, importance).
- Final Accounts of Partnership: Fixed v/s Fluctuating capital, Division of profit among partners, Profit, and Loss Appropriation account.
Unit III: Reconstitution of Partnership
Changes in profit sharing ratio among the existing partners – Sacrificing ratio and Gaining ratio.
- Accounting for Revaluation of Assets and Liabilities and Distribution of reserves and accumulated profits.
- Goodwill: Nature, Factors affecting and Methods of valuation: Average profit, Super profit, Multiplier, and Capitalization methods.
- Admission of a Partner: Effect of admission of a partner, Change in profit sharing ratio, the Accounting treatment for goodwill, Revaluation of assets and liabilities, Reserves (accumulated profits), and Adjustment of capitals.
- Retirement/Death of a Partner: Change in profit sharing ratio, Accounting treatment of goodwill, Revaluation of assets and liabilities, Adjustment of accumulated profits (Reserves).
Unit IV: Dissolution of Partnership Firm
- Meaning, Settlement of accounts: Preparation of realization account and related accounts (excluding piecemeal distribution, sale to a company and insolvency of a Partner)
Unit V: Accounting for Share and Debenture Capital
- Share Capital: Meaning, Nature and Types.
- Accounting for Share Capital: Issue and Allotment of Equity and Preference Shares; Over
subscription and Under subscription; Issue at par, premium and at discount; Calls in advance, Calls in
arrears, Issue of shares for consideration other than cash. - Forfeiture of Shares: Accounting treatment, Re-issue of forfeited shares.
- Presentation of shares and Debentures Capital in the company’s balance sheet.
- Issue of Debenture – At par, premium, and discount; Issue of debentures for consideration other than cash.
- Redemption of the debenture.
- Out of proceeds of fresh issue, accumulated profits, and sinking fund.
Unit VI: Analysis of Financial Statements
- Financial Statements of a Company: Preparation of simple financial statements of a company in the prescribed form with major headings only.
- Financial Analysis: Meaning, Significance, Purpose, Limitations.
- Tools for Financial Analysis: Comparative statements, Common size statements.
- Accounting Ratios: Meaning and Objectives, Types of ratios:
Liquidity Ratios: Current ratio, Liquidity ratio.
Solvency Ratio: Debt to equity, Total assets to debt, Proprietary ratio.
Activity Ratio: Inventory turnover, Debtors turnover, Payables turnover, Working capital turnover, fixed assets turnover, Current assets turnover.
Profitability Ratio: Gross profit, Operating ratio, Net profitratio, Return on Investment, Earningper Share, Dividend per Share, Profit Earning ratio.
Unit VII: Statement of Changes in Financial Position
- Cash Flow Statement: Meaning and Objectives, Preparation, Adjustments related to depreciation, dividend and tax, sale and purchase of non-current assets (as per revised standard issued by ICAI).
Video Links For CUET Accountancy
CUET Accountancy Strategy