HSE Kerala Board Syllabus Plus Two Accountancy Chapter Wise Notes and Resources in both English Medium and Malayalam Medium
| Board | SCERT, Kerala |
| Text Book | SCERT Based |
| Class | Plus Two |
| Subject | Accountancy |
| Chapter | All Chapters |
Please Click the name of Chapter to get Materials.
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LEARNING OBJECTIVES After studying this chapter, you will be able to : • Define partnership and list its essential features; • Identify the provisions of the Indian Partnership Act 1932 that are relevant for accounting; • Prepare partners’ capital accounts under fixed and fluctuating capital methods; • Explain the distribution profit or loss among the partners and prepare the Profit and Loss Appropriation Account; • Calculate interest on capital and drawing under various situations; • Explain how guarantee for a minimum amount of profit affects the distribution of profits among the partners; • Make necessary adjustments to rectify the past er rors in partners capital accounts; and • Prepare final accounts of a partnership firm;
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LEARNING OBJECTIVES After studying this chapter you will be able to: • Explain the concept of reconstitution of a partnership firm; • Identify the matters that need adjustments in the books of firm when a new partner is admitted; • Determine the new profit sharing ratio and calculate the sacrificing ratio; Define goodwill and enumerate the factors that affect it; • Explain the methods of valuation of goodwill; • Describe how goodwill will be treated under different situations when a new partner is admitted; • Make necessary adjustments for revaluation of assets and reassessment of liabilities; • Make necessary adjustments for accumulated profits and losses; • Determine the capital of each partner, if required according to the new profit sharing ratio and make necessary adjustments; • Make necessary adjustments on change in the profit sharing ratio among the existing partners.
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LEARNING OBJECTIVES After studying this chapter you will be able to: • calculate new profit sharing ratio and gaining ratio of the remaining partners after the retirement/death of a partner; • describe the accounting treatment of goodwill in the event of retirement/ death of a partner; • make the necessary entries in respect of unrecorded assets and liabilities; • make necessary adjust- ment for accumulated profits or losses; • ascertain the retiring/ deceased partner claim against the firm and explain the mode of its settlement; • prepare the retiring partner’s loan account, if required; and • prepare the deceased partner’s executor’s account in the case of death of a partner and the balance sheet of a reconstituted firm.
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LEARNING OBJECTIVES After studying this chapter you will be able to : • State the meaning of dissolution of partnership firm; • Differentiate between dissolution of partner- ship and dissolution of a partnership firm; • Describe the various modes of dissolution of the partnership firm; • Explain the rules relating to the settlement of claims among all partners; • Prepare Realisation Account;
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