CLASS 12 CBSE | ACCOUNTS - FULL SYLLABUS REVISION MARATHON

Описание: NIKKU SIR'S COMMERCE CLASSES

CLASS 12 CBSE - ACCOUNTANCY


This video, titled "CLASS 12 CBSE | ACCOUNTS - FULL SYLLABUS REVISION MARATHON," is a comprehensive revision marathon for Class 12 CBSE Accountancy. The instructor, Nikku Sir, emphasizes brushing up on formatting, picking questions, and approaching the exam with confidence (1:12-2:15).

Here's a breakdown of the key topics covered:

Fundamentals (2:17-1:03:00): The session begins with a detailed explanation of the Profit and Loss Appropriation Account, including its format and common mistakes students make.
Goodwill and Revaluation (1:03:00-1:23:57): The instructor discusses calculating goodwill of the firm, distinguishing it from goodwill appearing in books, and explaining revaluation accounts. He covers two main scenarios for revaluation: distribution and when book values should not be changed, emphasizing the importance of preparing a revaluation account in both cases.
Change in Profit Sharing Ratio (PSR) (1:09:50-1:20:00): The video demonstrates how to handle changes in PSR, including the treatment of general reserves, goodwill, and revaluation losses. It clarifies when to distribute these items and when to pass adjustment entries, emphasizing the importance of understanding the question's implied instructions.
General Entries and Working Notes (1:11:47-1:13:00): The session provides practical advice on how to present solutions, including creating formats for general entries and working notes for calculations like sacrificing ratio.
Revaluation Account Entries (1:20:10-1:23:00): The instructor provides a simplified, "by rote" method for understanding and making entries related to the revaluation account, especially concerning losses.
Payment and Revenue Recognition (2:16:00-2:17:00): A crucial point is made about the difference between paying expenses (like outstanding wages) and profit generation, explaining that direct payments are not recorded in the revaluation account, while denied wages would be considered profit.
Financial Statements Analysis (4:46:00-4:47:00): The video delves into analyzing financial data, such as calculating increased sales and reduced profit percentages to determine current year's profit.
Deceased Partner's Capital Account (5:03:54-5:11:00): The process of preparing a deceased partner's capital account for their executor is explained, including entitlements like balance, interest on capital, share of profit, and goodwill. The instructor clarifies that an executor account is generally not required unless specifically requested.
Dissolution of Partnership (5:58:30-5:59:30): The basic principles of dissolution are introduced, focusing on the realization account as the primary account for recording expenses and income during the dissolution process.
Share Forfeiture and Reissue (8:11:00-8:12:00, 10:17:38-10:20:00): The video explains calculations related to share forfeiture, particularly when premiums are involved, and discusses how to determine the minimum reissue price and maximum permissible discount on reissued shares.
Debentures as Collateral Security (10:06:16-10:07:30): The instructor covers the accounting treatment for issuing debentures as collateral security, including the necessary general entries and their presentation in the balance sheet.
Cash Flow Statement (CFS) (11:04:54-11:13:00): The final major topic is the preparation of the Cash Flow Statement. The emphasis is on identifying key data points from adjustments, non-current assets, and current liabilities/assets to categorize them into financing, investing, and operating activities. It also touches upon extraordinary items and income tax refunds within the CFS context (11:39:23).

➡ VENUE : NSCC (ANUPAM BRANCH)
📍 ADDRESS : City Avenue, GE Road, Near Anupam Garden, Besides Reliance Digital, HDFC Bank Building, 1st Floor


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