ACCOUNTS (858)

CLASS XII

There will be two papers in the subject: (c)Partners’ Current Accounts when
fixed capital method is followed
Paper I - Theory: 3 hours ……80 marks
Interest on capital, interest on
Paper II- Project Work ……20 marks
drawings, interest on current
PAPER - I (THEORY) – 80 Marks accounts (debit and credit) salary,
There will be one paper of 3 hours duration of commission to partners and
80 marks divided into three Sections A, B and C. managers, transfer to reserves,
division of profit among partners,
It will be compulsory for all candidates to attempt
Section A. (d) Guarantee of profits
Section A (60 Marks): will consist of two parts, (e) Past adjustments (Relating to
Part I and Part II and have a total of eight interest on capital, interest on
questions. drawing, salary and profit sharing
Part I (12 Marks): will consist of Question 1 ratio).
(compulsory). This question will include NOTE:
short answer questions, testing
knowledge, application and skills relating • Interest on loan given by the partner to the
to elementary/fundamental aspects. Question 1 firm is to be taken as a charge against profits.
will be based on Section A of the syllabus. This interest will be debited to the P/L
account and credited to his loan account.
Part II (48 Marks): Candidates will be required to
answer four questions out of seven from this part. • Interest on loan taken by a partner from the
Each question shall carry 12 marks. Part II will firm should be credited to P/L account and
also be based on Section A of the syllabus. debited to his capital/current account as the
Section B/ C (20 marks): Candidates will have a case may be.
choice of attempting questions either from Section • Rent due to a partner is a charge against
B or Section C. Candidates will be required to profit and is to be credited to partners’
answer two questions out of three from the section current account in case of fixed capital
of their choice. Each question shall carry 10 marks. system or to partners’ capital account when
capitals are fluctuating.
SECTION A
• Admission of manager as a Partner is
1. Partnership Accounts excluded from the topic of past adjustments.
A. Fundamentals of Partnership B. Goodwill
(i) Definition, meaning and features of a Concept of goodwill and mode of valuation.
Partnership.
(a) Meaning, nature and features of
Self-explanatory. Goodwill.
(ii) Provisions of The Indian Partnership (b) Factors affecting the value of goodwill.
Act, 1932, with respect to books of
(c) Mode of Valuation.
accounts.
• Average profit method – Meaning
(i) Meaning and importance.
and practical application.
(ii) Rules applicable in the absence of a
partnership deed. − Simple average.
(iii) Preparation of Profit and Loss − Weighted average method.
Appropriation Account and Partners’ • Super profit method – Meaning and
Capital and Current Accounts. practical application.
(a) Profit and Loss Appropriation • Capitalization method – Meaning
Account. and practical application.
(b) Partners’ capital accounts: fixed − Capitalization of average profit.
and fluctuating. − Capitalization of super profit.
1
NOTE: Capital Employed/Net assets are Total Advertisement Suspense Account/
assets (excluding purchased goodwill, non-trade Deferred Revenue Expenditure.
investments and fictitious assets) less outside
liabilities. NOTE:
- Preparation of Balance Sheet during
Investments to be taken as non-trade investments admission of a partner to be done in
unless specified as trade investments. Horizontal format.
C. Reconstitution of Partnership - Memorandum revaluation account, Joint Life
Policy, Individual life policy are excluded
I. Admission
from the syllabus.
(i) Calculation of new profit sharing - Admission of a partner during an accounting
ratio, sacrificing ratio and gaining year is excluded from the syllabus.
ratio. II. Retirement of a partner
Self-explanatory. (i) Calculation of new profit sharing
(ii) Accounting treatment of goodwill ratio, gaining ratio and sacrificing
on admission of a partner. ratio.
Based on Accounting Standard –26 Self-explanatory.
issued by the Institute of Chartered (ii) Adjustment with regard to goodwill
Accountants of India in the context including hidden goodwill.
of Intangible Assets.
Self-explanatory.
(a) Premium for goodwill paid
privately. (iii) Adjustment with regard to
undistributed profits and losses.
(b) Premium for goodwill paid (in
cash or kind) and retained in Self-explanatory.
the business. (iv) Preparation of Revaluation Account
(c) Premium for goodwill paid and on retirement of a partner.
withdrawn by the old partners. Self-explanatory.
(d) When the incoming partner
(vi) Calculation and payment of amount
cannot bring premium for due to the retiring partner.
goodwill in cash, adjustments
are to be done through his Self-explanatory.
current account. NOTE:
(e) Hidden goodwill. - Preparation of Balance Sheet during
(f) When goodwill appears in the retirement of a partner to be done in
old Balance Sheet. Horizontal format.
- Memorandum Revaluation Account, Joint Life
(iii)Preparation of Revaluation Policy, Individual life policy are excluded
Account. from the syllabus.
Preparation of a Revaluation
- Retirement of a partner during an accounting
Account where changes in the year is excluded from the syllabus.
values of assets and liabilities are
reflected in the new Balance Sheet III. Dissolution of a Partnership firm.
after reconstitution of a partnership (i) Meaning of dissolution and
firm. settlement of accounts under
(iv) Accounting treatment of Section 48 of The Indian
accumulated profits and losses. Partnership Act 1932.

General Reserve / Reserve Fund, Self-explanatory

Workmen Compensation Reserve/ (ii) Preparation of Realization Account,
Fund, Investment Fluctuation Partner’s Loan Account, Partner’s
Reserve/Fund, Contingency Capital Account and Cash/Bank
Account.
Reserve, Profit and Loss Account
(Debit and Credit balance) and Self-explanatory.
2
NOTE: When allotment or any call money is due, it is to
1. Preparation of Memorandum Balance Sheet is be transferred to the calls in arrears account,
excluded for the Examination Year 2021. on which interest if provided in the Articles of
Association will be calculated.
2. Important points:
(e) Forfeiture and reissue of shares at par,
When an asset or a liability is taken to the
realization account any corresponding/related fund premium or discount.
or reserve is also transferred to realization account Self-explanatory.
and not to capital account. (f) Disclosure of Share capital in the
When accounts are prepared on a fixed basis, company’s Balance Sheet.
partners current account balances are to be NOTE: Issue of bonus and rights shares,
transferred to capital account. No adjustments are private placement of shares, sweat equity
required to be passed through current account. shares, employees’ stock option scheme,
Bank overdraft is to be taken to the bank/cash A/c reservations for small individual participants
and not to be transferred to realization account but and minimum tradable lots are not required.
bank loan must be transferred to realization B. Issue of Debentures
account.
• If question is silent about the payment of a Problems on issue of debentures (at par, at
liability, then it has to be paid out in full. premium and at discount)
• If the question is silent about the realization of Problems on issue of debentures to include:
an asset, its value is assumed to be nil.
(a) Issue of debentures at par, at premium
• Loan taken from a partner will be passed
through cash or bank account even if the and at discount under Companies Act
partner’s capital account has a debit balance. 2013.
• Loan given to a partner will be transferred (b) Issue of debentures as collateral
(debited) to his Capital account. security for a loan.
• Admission cum retirement, amalgamation of (c) Issue of debentures for considerations
firms and conversion/sale to a company other than cash.
together with piecemeal distribution and
• To promoters.
insolvency of a partner / partners not required.
• To underwriters.
2. Joint Stock Company Accounts • To vendors

A. Issue of Shares (d) Accounting entries at the time of issue

when debentures are redeemable at par
Problems on issue of shares. and premium.
(a) Issue of shares at par and premium (e) Interest on debentures (with TDS).
under Companies Act, 2013.
(f) Disclosure of Debentures in the
(b) Issue of shares for considerations other company’s Balance Sheet.
than cash:
(g) Disclosure of discount on issue of
• To promoters (can be considered debentures in the company’s Balance
either through Goodwill account or Sheet when debentures are redeemed in
Incorporation costs account). instalments.
• To underwriters.
C. Redemption of Debentures
• To vendors.
• Creation of Debenture Redemption
(c) Calls in arrears, calls in advance.
Reserve (DRR).
(d) Over and undersubscription (including • Redemption of debentures out of
prorata allotment). profits.
NOTE: In prorata allotment when shares are • Redemption of debentures out of
issued at a premium, excess money received on capital.
application will first be adjusted towards the • Redemption of debentures in a lump
share capital. Any excess thereon will be sum.
utilized towards the Securities Premium Self-explanatory.
Reserve.
3
NOTE: (NHB) and unlisted companies
I. Calculation of ex-interest and cum-interest (other than NBFCs and HFCs).
are not required. (ii) Unlisted companies (other than NBFCs and
HFCs).
II. Rules relating to creation of Basically, All India Financial Institutions
Debenture Redemption Reserve (DRR): regulated by RBI, Banking Companies for
(i) Listed companies including NBFCs both public as well as privately placed
registered with RBI and HFCs debentures, other Financial Institutions
registered with National Housing Bank within the meaning of Section 2(72) of the
(NHB) both for public issue as well as Companies Act, 2013 and unlisted NBFCs
private placements do not require the registered with RBI and HFCs registered
creation of a DRR of 25 per cent of the with National Housing Bank (NHB) are
value of outstanding non-convertible exempted both, from creating DRR and
debentures. from making a DRI.
(ii) Unlisted NBFCs registered with RBI D. Final Accounts of Companies
and HFCs registered with National
Housing Bank (NHB) both for public Preparation of the Balance Sheet of a
issue as well as private placements do company (along with notes to accounts) as
not require the creation of a DRR of per Schedule III Part I of Companies Act
2013.
25 per cent of the value of outstanding
non-convertible debentures. As per the amendment made in Accounting
(iii) For unlisted companies (other than Standard 4, dividend proposed for a year is
NBFCs and HFCs), DRR is reduced not a liability till it has been approved by
from the present level of 25 per cent to the shareholders. Thus, proposed dividend
10 per cent of the outstanding is not shown as a short-term provision in
debentures. the current Balance Sheet of a company but
disclosed in Notes to Accounts under
Rules regarding Debenture Redemption Contingent Liabilities.
Investment (DRI)
All capital losses to be written off in the
• Unlisted NBFCs and HFCs need not
year in which they occur unless otherwise
deposit any amount of its debentures
maturing during the year with mentioned.
scheduled banks or invest it in NOTE: Schedule III Part II of Companies Act
specified government securities. 2013 (Statement of Profit and Loss) is not required
• The following companies will for the purpose of preparing final accounts of a
continue to invest or deposit, on or Company.
before 30th April in each year, a sum
which shall not be less than 15 per However, for the preparation of Comparative and
cent, of the amount of its debentures Common Size Income Statements (Section B –
maturing during the year, ending on Unit 4: Financial Statement Analysis), the extent
31st March of the next year, in and format of the Statement of Profit and Loss as
deposits with any scheduled bank, per Schedule III Part II of the Companies
free from any charge or lien / in Act 2013 to be studied is as follows:
unencumbered securities of the
Central Government or any State
Government / in unencumbered
securities mentioned in Section 20 of
the Indian Trusts Act, 1882/ in
unencumbered bonds issued by any
other company notified under
Section 20 of the Indian Trusts Act,
1882:
(i) Listed companies including
NBFCs registered with RBI,
HFCs National Housing Bank
4
 Statement of Profit and Loss for the year SECTION B
ended:……………..
MANAGEMENT ACCOUNTING
Particulars Note Figures Figures
No. for the for the 3. Financial Statement Analysis
Current Previous
Comparatve Statements and Common Size
reporting reporting
Statements.
period period
Meaning, significance and limitations of
I Revenue from
Comparative Statements and Common Size
operations
Statements.
II Other Income Preparation of Comparative Balance Sheet and
III Total Revenue Statement of Profit and Loss (inter-firm and
(I + II) intra-firm) showing absolute change and
percentage change.
IV Expenses:
Common size Balance Sheet to be prepared as a
Cost of percentage of total assets and total liabilities.
materials
consumed Common size Statement of Profit and Loss to be
Purchases of prepared as a percentage of Revenue from
Stock-in-Trade operations.

Changes in NOTE: Preparation of comparative statements and

inventories of common size statements to be made from the
finished goods Balance Sheets and Statements of P/L without notes
to accounts.
Work-in-
progress and 4. Cash Flow Statement (Only for
Stock-in Trade Manufacturing Companies)
Employee (i) Meaning, importance and preparation of a
benefits Cash Flow Statement.
expense
NOTE: Based on Accounting Standard – 3
Finance costs (revised) issued by the Institute of
Depreciation Chartered Accountants of India.
and (ii) Calculation of net cash flows from operating
amortization activities based on Indirect Method only.
expense
Preparation of a Cash Flow Statement from
Other expenses two consecutive years’ Balance Sheet with
Total expense or without adjustments.
V Profit before Preparation of complete/partial cash flow
tax (III-IV) statement from extracts of Balance Sheets
and Statements of P/L with or without
VI Less Tax adjustments.
VII Profit after Tax NOTE: Any adjustment or an item in the Balance
(V-VI) Sheet relating to issue of bonus shares,
extraordinary items and refund of tax are not
required.
(iii) Preparation of Cash Flow Statement on
basis of operating, investing and financing
activities.

5
 The following items are to be taken when (c) Any unpaid dividend is transferred to
calculating net cash flows from financing Dividend Payable Account / Unpaid
activities: Dividend Account which is shown in the
• Issue of shares at par and premium, Balance Sheet of the current year as Other
issue of debentures at par, premium Current Liabilities under Current
and discount. Liabilities.
• Redemption of preference shares and (iii) Treatment of provision for doubtful debts-
debentures at par. Provision for doubtful debts can be treated as
• Interest paid on Long Term and Short a charge against profits or as part of the
Term Borrowings and dividend – working capital changes. In case of good
interim and proposed/paid on shares. debtors the provision will be treated as an
• Long term borrowings and Short term appropriation of profit.
borrowings – bank overdraft, cash (iv) To calculate cash flow from operating activities
credit and short term loan. whether the Adjusted Profit and Loss Account is not
taken or repaid. acceptable as per AS-3.
• Share issue expenses / underwriting (v) Calculation of Net Profit before Tax has to be
commission paid. shown as a Working Note.
The following items are to be taken when (vi) Excluded: Any transaction pertaining to Capital
calculating net cash flows from investing Reserve.
activities:
5. Ratio Analysis
• Cash purchase of fixed assets.
A. Liquidity Ratios:
• Cash sale of fixed assets.
• Purchase of shares or debentures or Current Assets
(i) Current Ratio:
long term investments of other Current Liabilities
companies.
• Interest and dividend received on Current Assets = Current Investments
shares or debentures or long term + Inventories (excluding Loose Tools
investments of other companies. and Spare Parts) + Trade Receivables +
• Sale of shares or debentures or long Cash and Bank Balance + Short-term
term investments of other companies. Loans and Advances + Other Current
The following items are to be taken for cash Assets
and cash equivalents:
• Cash Current Liabilities = Short term
• Bank borrowings + Trade payables + Other
• Short term investments Current Liabilities + Short term
• Marketable securities Provisions
NOTE:
(ii) Quick Ratio / Liquid Ratio:
(i) Adjustments relating to provision for taxation,
Quick Assets
proposed dividend, interim dividend,
amortization of intangible assets, profit or loss Current Liabilities
on sale of fixed assets including provision OR
for/accumulated depreciation on them, Profit or
loss on sale of investment are also included. All Current Assets- Inventories(excluding Loose Tools and Spare Parts)- Prepaid Expenses

(ii) Treatment of proposed dividend:

Current Liabilities
(a) Dividend proposed for the previous year
will be an outflow for cash, unless
otherwise stated, on the assumption that the OR
proposed amount has been approved by the
Liquid Assets
shareholders in the AGM.
(b) No effect is given to Proposed Dividend for Current Liabilities
the current year as it is not provided for
and is a contingent liability.
6
B. Solvency Ratios: C. Activity Ratios:
a. Debt to Equity Ratio: (i) Trade Receivable Turnover Ratio =
Debt / Long Term Debt Credit Revenue from Operation
Equity / Shareholders' Funds Average Trade Receivable
Debt = Long Term Borrowings + Credit Revenue from Operation =
Long Term Provisions Equity / Revenue from Operation – Cash
Shareholders’ Funds = Share Capital + Revenue from Operation Average
Reserves and Surplus Trade Receivables =
Or Opening Trade Receivable + Closing Trade Receivable
Non Current Assets + (Current Assets – 2
Current Liabilities) - Non Current
Liabilities (ii) Trade Payable Turnover Ratio =
= Non Current Assets + Working Net Credit Purchases
Capital- Non Current Liabilities
Average Trade Payable
= (Tangible Assets + Intangible Assets
+ Non Current Investments + Average Trade Payables =
Long Term Loans and Advances) + Opening Trade Payable + Closing Trade Payable
Working Capital – (Long Term 2
Borrowings + Long Term
Provisions)
b. Proprietary Ratio: (iii) Working Capital Turnover Ratio =
Shareholders Funds/ Equity Revenue from Operations

Total Assets Working Capital

Total Assets = Non Current Assets + (iv) Inventory Turnover Ratio =

Current Assets Cost of Goods Sold /
= Tangible Assets + Intangible Assets + Cost of Revenue from Operation
Non Current
Average Inventory
Investments + Long Term Loans and
Advances Cost of goods sold= Opening Stock +
+ Net Purchases + Direct Expenses –
Closing Stock
Current Investments + Inventories
(including Loose Tools and Spare Parts) Cost of Revenue from Operations =
+ Trade Receivables + Cash and Bank Revenue from Operations – Gross
Balance + Short-term Loans and Profit
Advances + Other Current Assets
Or
c. Debt to Total Assets Ratio:
Debt Cost of Material Consumed (including
direct expenses) + Change in
Total Assets inventories of WIP and Finished Goods
d. Interest coverage ratio = Or
Net profit before interest and taxes
Opening Inventory + Net Purchases+
Interest
Direct Expenses – Closing inventory
Interest includes interest on only long
Average Inventory =
term borrowings.
Opening Inventory + Closing Inventory
2

7
 D. Profitability Ratios: of Intangible Assets + Writing off capital
losses.
(i) Gross Profit Ratio:
Non Operating Incomes = Interest and
Gross Profit Dividend Received on Investment + Profit
× 100 on sale of Non Current Assets.
Revenue from Operations
NOTE:
Gross Profit = Revenue from Operations –
Cost of Revenue from Operations/ Cost of 1. Current Ratio includes Net Debtors (Gross
Goods Sold Debtors – Provision for doubtful debts) while
Cost of Revenue from Operations = Cost Trade Receivables Turnover Ratio includes
of Material Consumed (including direct Gross Debtors.
expenses) + Change in inventories of WIP 2. ‘Other Current Assets’ is restricted to Prepaid
and Finished Goods. Expenses and Accrued Income.
Or 3. Revenue from operation (for a manufacturing
Opening Inventory + Net Purchases + company)
Direct Expenses – Closing inventory • Net Sales
For a manufacturing
(ii) Net Profit Ratio: =
• Sale of scrap company
Net Profit
× 100 4. Other Income: (for a manufacturing company)
Revenue from Operations
• Rent received (non- operating)
Net Profit = Gross profit + Other Income • Commission received (operating)
– Indirect Expenses – Tax • Interest and Dividend Received (non-
operating)
(iii) Operating Ratio: • Profit from Sale of Fixed Assets (non-
Cost of Revenue from Operations/Cost of Goods Sold + Operating Expenses operating)
Revenue from Operations
× 100
• Cash discount received (operating)
5. Problems on effect of transactions on ratios to
Or be restricted to Current Ratio, Quick Ratio and
Debt-Equity Ratio.
× 100
6. Net Profit Ratio is to be calculated on ‘Net Profit
after Tax’.
Operating Expenses = Employee Benefit SECTION C
Expenses + Depreciation of Tangible Assets +
Selling and Distribution Expenses+ Office and COMPUTERISED ACCOUNTING
Administrative Expense. 6. Accounting Application of Electronic Spread
Operating Income = Commission received, cash Sheet
discount received. (i) Concept of Electronic Spreadsheet.
(iv) Operating Profit Ratio: Meaning, utility, merits and demerits of
Electronic spreadsheets.
Net Operating Profit
× 100 (ii) Features offered by Electronic Spreadsheet.
Revenue from Operations
An understanding of basic features of
Net operating profit = Net Profit electronic spreadsheets such as: Creating
after Tax+ Non-Operating Expenses – Non worksheet, entering data into worksheet,
Operating Incomes heading information, data, text, dates,
Or alphanumeric values, saving & quitting
worksheet. Opening and moving around in
Gross Profit – Operating Expenses + an existing worksheet. Toolbars and Menus,
Operating Incomes keyboard shortcuts. Working with single
Non Operating Expenses = Finance and multiple workbooks - copying,
Cost (Interest on Borrowings) + Loss on renaming, moving, adding and deleting,
sale of Non Current Assets+ Amortisation copying entries and moving between
workbooks. Formatting of worksheet- Auto
8
 format, changing -alignment, character PAPER II – PROJECT WORK – 20 Marks
styles, column width, date format, borders Candidates will be expected to have completed two
and colours. Previewing and Printing projects from any topic covered in Theory.
worksheet - Page setting, Print titles,
Adjusting margins, Page break, headers The project work will be assessed by the teacher
and footers. Formulas – summation, and a Visiting Examiner appointed locally and
subtraction, division, multiplication, approved by the Council.
average and percentage. Functions: date, Mark allocation for each Project [10 marks]:
if-then- else, freezing panes.
Overall format 1 mark
(iii) Application of spreadsheets in generating
the following accounting information: Content 4 marks
1. Payroll Findings 2 marks
Components of payroll – Basic, HRA, Viva-voce based on the Project only 3 marks
DA and TA, CCA, deduction for PF and
income tax. A list of suggested Projects is given below:
2. Data Presentation
1. Preparation of Journal / sub-division of journal,
Graphs and charts- using wizards, Ledger, Trial balance and Financial Statements
various charts type, formatting grid of a partnership form of business on the basis of
lines and legends, previewing & a case study.
printing charts • Develop a case study showing how two or
Database - creation, sorting, query and more friends decide to come together and
filtering a database. start a business with a certain amount of
capital.
7. Database Management System (DBMS) • Prepare their Partnership Deed including
interest on capital, partner’s salary,
(i) Concept and Features of DBMS. commission, interest on drawings, interest
Types and features of DBMS. on partner’s loan and rent paid to a partner.
A conceptual understanding of the basic • Write in detail, their transactions during the
features of Data Base Management System year: purchases - cash and credit, sales -
(DBMS), i.e. data update and retrieval cash and credit, expenses, purchase of fixed
using basic functions and commands of assets and depreciation charged on them,
SQL. any outstanding expenses, prepaid
Basic Commands: Select, Where, And, Or, expenses, accrued income, drawing bills of
Update, Delete and exchange, accepting bills payable etc.
Basic Functions: Avg, Count, Max, Min, • From this case study developed (which
Sum. should have at least 15 transactions), pass
the journal entries, post them into the
(ii) DBMS in Business Application. ledger, prepare a Trial Balance and the
Trading and Profit and Loss Account, Profit
Database design, tables, fields, and Loss Appropriation Account and
relationships, forms reports and indexing. Balance Sheet.
The following examples of DBMS in • The various expenses, for comparison
purposes, could be depicted in the form of
business application: bar diagrams and pie charts.
• Accounting Information • Calculate relevant accounting ratios like
liquidity, solvency, activity and profitability
• Debtors and Creditors giving their formulae and computation
• Bank Reconciliation Statement (all this could be part of the viva-voce).
• The ratios could also be shown graphically
• Asset Accounting and/ or pictorially (bar diagrams and pie
charts) and if possible, could be compared
with the ratios of the industry.
2. Preparation of a Cash Flow Statement with the
help of audited / unaudited / imaginary Balance
Sheets of a company for two consecutive
accounting years or two consecutive quarters of
an accounting year could be taken along with at
9
 least five additional information (depreciation, Provident Fund (PF) is deducted @ 12% of
purchase/ sale of fixed assets, dividend paid/ (Basic Salary + DA)
proposed, tax paid/ proposed, amortization of
Income Tax (IT) is deducted @ 10% of
intangible assets, profit or loss on sale of fixed
(Basic Salary + DA + HRA + CCA)
assets including provision for depreciation on
them and profit or loss on sale of investment). Net Salary is summation of Basic Salary +
DA + HRA + CCA less PF and IT
• The results of the operating, investing and
financing activities could be shown (ii) Save your worksheet on the desktop as
graphically and/ or pictorially (bar diagrams Employee_Salary.
and pie charts).
(iii) Print a Hard Copy of your work and close
3. Preparation of Common Size and Comparative the file.
Income Statement and Balance Sheet of a
6. Revenue and Commission Statement
company by taking into account its audited,
unaudited / imaginary financial results of two Prepare a Spreadsheet for a certain Company,
consecutive quarters of an accounting year or of which pays a commission based upon books
two consecutive accounting years. sold.
• The comparison has to be made in the form Prepare a revenue and commission statement
of Common Size and Comparative Income based upon the following information:
Statement and Balance Sheet.
Number of Number of
Name of
• The comparison could also be shown Soft Cover Hard Cover
Salesperson
graphically and/ or pictorially (bar diagrams Books sold Books sold
and pie charts).
Suresh Mehta 1546 360
4. Taking the audited/ unaudited / imaginary
financial results of any leading company, its Gladstone David 1788 315
liquidity, solvency, activity and profitability Manish Arora 1340 294
ratios of two consecutive accounting years or of
two consecutive quarters of an accounting year Manmeet Singh 990 450
should be calculated and the comparison of the Vineet Saighal 1105 689
ratios of both the years or quarters should be
shown graphically and/ or pictorially (bar Assumption:
diagrams and pie charts). Price of Hard Cover Books: @Rs. 34.45 per
5. Employee Salary Sheet: Book
Price of Soft Cover Books: @ Rs. 22.05 per
(i) Design a spreadsheet using the following Book
fields:
Commission on Hard Cover Books: 9.0%
Employee’s Name: String Variable of Commission on Soft Cover Books: 12%
maximum size of 40 characters
Prepare a spreadsheet showing your calculation
Date of Joining: Date in English U.K. to determine:
format (i) Revenue (Hard Cover Books and Soft
Basic Salary: upto 2 places after decimal Cover Books)
Calculate their net salary using the (ii) Total Revenue
Employee’s data. [Feed in random data for (iii) Commission (Hard Cover Books and Soft
20 to 25 employees] Cover Books)
Some of the instructions are given below: (iv) Total Commission
Important Instructions: (v) Create a Chart (any style) showing the
Dearness Allowance (DA) is paid @ 45% above information.
of Basic Salary. Open the original page (with lines and shading)
House Rent Allowance (HRA) is paid @ as well as a formula page. (The entire formula
15% of (Basic Salary + DA) must been shown)
City Compensatory Allowance (CCA) is Use “=round (.0)” where applicable so that all
paid @ 8.3% of (Basic Salary + DA + columns add correctly.
HRA)
10
7. Spreadsheet on Outstanding Report Employee Loan Details:
Prepare and Present a Spreadsheet for a list of
outstanding notes receivable each month. The Emp. Emp. Loan Loan Amount Balance
information for a particular month is as follows: No. Name Amount Date Paid Amount
Decide tables, relationships etc. on your own.
Use the following financial information:
Face Interest Other details 9. Database Management:
Value Rate (i) Create an Accounts Table by following the
0 10.8% Late Penalty: 11% steps given below:
(a) Click on the new button and highlight
500 9.2% Report date: July 30, Design View in the dialog box that
2011 appears.
1000 8.96% Days / Year: 365 (b) Click the OK button and the Table
Design View will appear.
(c) Fill in the Field Name, Data Type and
Note Face Period
Issue Date Description for each column/field in the
Number Value Days
Account Table.
1 Rs. 525 90 7/2/2011
Field Name Data Description
2 Rs. 612 60 14/3/2011 Type
3 Rs. 210 45 19/5/2011 CustomerID Number The Unique Identifier
for a Customer
4 Rs. 800 120 10/6/2011
AccountNo Number The Unique Identifier
5 Rs. 1469 30 24/6/2011 for a Bank Account
Show the Interest rate, Days outstanding, AccountType Text The type of account
Interest earned, Late penalty and Total due. (Checking, Saving etc.)
Use appropriate Lines and Shading to make the DateOpened Date The date the account
report interesting and easy to read. Use two was opened
places after the decimals where appropriate.
Balance Number The current balance
Prepare a chart to show the above information.
(money) in this account.
8. Database Management (ii) Define a Primary Key for the Accounts
(i) Create a Database with at least 10 records table. Click on the Account Number field
with each record having the following with the right mouse button and choose
fields: Primary Key from the pop-up menu.
Employees Details: PAN Number, Name, (iii) Save the new Accounts Table.
Address and Phone Number
10. Selection Grade Card
(ii) Sort the names in alphabetical order.
(iii) The Employee database has another table (i) Make a Spreadsheet of a Selection Grading
called Loan Details that stores the details of Chart using the following details:
loan taken by various employees. Create a Candidate’s Name: String
query that gives a list of employees names type
along with loan details.
Test 1: Integer
The loan details table has following fields: type
Loan Amount, Loan Date, Interest Rate,
Test 2: Integer
Amount Paid and Amount Balance.
type
(iv) Create a Report as per the format given
below: Test 3: Integer
type
Test 4: Integer
type

11
 The Worksheet format is as follows:

Test- Test- Test- Test-

Name of 1 2 3 4
S.N. the (Max (Max (Max (Max
Candidate 25 25 25 25
Mks) Mks) Mks) Mks)
Alfred
1 24 22 18 23
Gomes
Shankar
2 17 20 17 20
Pandey
Ali
3 Hassan 22 19 20 14
Raza
P. Subba
4 20 19 19 17
Rao
Sushanto
5 19 21 24 22
Mukerjee
(ii) Compute the percentage for each
candidate’s total. Show the total score and
the percentage for each candidate.
(iii) Create a Header for the Chart. Include your
name.
(iv) Save your work on the desktop as
Merit_Project.
(v) Print a hard copy of your work and close
the file.
NOTE: No question paper for Practical work will
be set by the Council.

12
 *EXPLANATION AND PRESENTATION OF ITEMS UNDER SHAREHOLDERS’ FUNDS
Share Capital

Particulars Note No. Figures at the end of the current Figures at the end of the previous
reporting period reporting period
1 2 3 4
I. EQUITY AND LIABILITIES
1. Shareholders Funds
(a) Share Capital 1 xxx

Notes to Accounts: 1.
Particulars Amount (`)
(a) Share Capital
Authorised Capital
...... shares of `..... each xxx

Issued Capital
..... shares of `..... each xxx
(of the above shares…..shares are allotted as fully paid up pursuant to a contract without payment being received in cash)
Subscribed Capital
Subscribed and fully paid up xxx
..... shares of `.... each
(of the above shares…..shares are allotted as fully paid up pursuant to a contract without payment being received in cash) xxx
Subscribed but not fully paid up
..... shares of `.... each, .... ` Called up x x x
Less calls –in- arrear (xx)
Add Shares Forfeited A/c x

TOTAL xxx
Points to be noted:
♦ Equity share capital and preference share capital to be shown separately.
If the authorised/issued capital is not mentioned in the question it has to be shown in the notes to accounts. However, no figures will be shown as illustrated above.

13
 **FORMAT OF THE BALANCE SHEET OF A JOINT STOCK COMPANY
PART-1
BALANCE SHEET
Name of the Company....................
Balance Sheet as at.........................
(Rupees in ................)
Particulars Note No. Figures at the end of the current reporting period Figures at the end of the previous reporting period
1. 2 3 4.
I. EQUITY AND LIABILITIES
1. Shareholders Funds
(a) Share Capital
(b) Reserves and Surplus
(c) Money received against share warrants
2. Share application money pending allotment
3. Non- Current Liabilities
(a) Long- term borrowings
(b) Deferred tax liabilities (Net)
(c) Other Long term liabilities
(d) Long-term provisions
4. Current Liabilities
(a) Short term borrowings
(b) Trade payables
(c) Other current liabilities
(d) Short term provisions
TOTAL
II. ASSETS
1. Non- Current Assets
(a) Fixed Assets
(i) Tangible Assets
(ii) Intangible Assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current Investments
(c) Deferred Tax Assets (Net)
(d) Long term loans and advances
(e) Other non-current assets
2. Current Assets
(a) Current Investments
(b) Inventories
(c) Trade Receivables
(d) Cash and Bank Balance
(e) Short-term loans and advances
(f) Other current assets
TOTAL
14
 SAMPLE TABLE FOR PRACTICAL WORK
S. No. Unique PROJECT 1 PROJECT 2 TOTAL
Identification MARKS
Number A B C D E F G H I J
(Unique ID) of Teacher Visiting Average Viva-Voce Total Marks Teacher Visiting Average Viva-Voce Total Marks (E + J)
the candidate Examiner Marks by Visiting (C + D) Examiner Marks by (H + I)
(A + B ÷ 2) Examiner (F + G ÷ 2) Visiting
Examiner
7 Marks* 7 Marks* 7 Marks 3 Marks 10 Marks 7 Marks* 7 Marks* 7 Marks 3 Marks 10 Marks 20 Marks
1

10

*Breakup of 7 Marks to be awarded separately by the

Name of Teacher:
Teacher and the Visiting Examiner is as follows:
Signature: Date
Overall Format 1 Mark
Content 4 Marks Name of Visiting Examiner
Findings 2 Marks
Signature: Date
NOTE: VIVA-VOCE (3 Marks) for each Project is to be conducted only by the Visiting Examiner, and should be based on the Project only.
15