Unit I: 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 II: 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 Capitalisation methods.
• Admission of a Partner: Effect of admission of partner, Change in profit sharing ratio, 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 III: Dissolution of Partnership Firm
• Meaning, Settlement of accounts: Preparation of realisation account and related accounts (excluding piecemeal distribution, sale to a company and insolvency of a Partner)

Unit IV: Company Accounts: Accounting for Share and Debenture
• 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 company’s balance sheet.
• Issue of Debenture – At par, premium and discount; Issue of debentures for consideration other than cash.

Unit V: 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 and Purpose, Limitations.
• Tools for Financial Analysis: Comparative statements, Common size statements.
• Accounting Ratios: Meaning and Objectives and types: Liquidity Ratio, Solvency Ratio, Activity Ratio, Profitability Ratio
• 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).