Class 12 Accounting

Secondary Education Curriculum
2076
Accounting

Working hrs: 160

1. Introduction

Making the theoretical knowledge of accounting practical, making the learning of this subject employable and of class 11th and 12th with the objective of introducing modern techniques and methods in business accounting A course on accounting has been developed. School according to the guidelines of National Curriculum Framework, 2076 Appropriateness of accounting system in this course of accounting subject at secondary level of education (Class 11 and 12). Management-related content is included. After studying this course, the students can join any organization or It is expected to achieve the ability to manage the accounting system of the office. In addition to this course It is expected to prepare the basis of higher education in related subjects.

Basic recording of financial transactions in the course of accounting subject, double as per rule of debit credit Accounting system, Subsidiary books of account, Preparation of trial balance, Accounting of transactions in bank and cash, Fixed Inventory of assets, financial statement, use of computer in accounting system, accounting system of government of Nepal, non-profit Student-centered to teach theoretical and practical aspects of subjects such as accounting systems of organizations and companies Emphasis is placed on learning facilitation methods and processes. It consists of subject-based practical exercises, Field study visits, exploratory continuous learning, making learning experiential and exploratory and evaluation It is expected that the method will be easy to relate to the learning process and make it relevant. The knowledge aspect of this course It has tried to make the study of the subject practical and experimental by emphasizing skills and attitudes. This course also takes into account the new concepts and changed techniques and methods in financial management
has been prepared. Therefore, the development of the concept of the mentioned content while developing the curriculum of the subject of writing, A balance is maintained between practice and continuous learning and assessment.

Introduction to this course, graded competence, classroom learning achievement, content area and sequence, learning facilitation Process and student assessment are covered. In this course, thematic justification of curriculum writing and development, Introduction including the main characteristics and nature of the course, subject-wise expected knowledge, skills, Competence is included in its practical form including attitude, value and work readiness. Likewise
In this, learning achievement and competence are related to specific elaboration of learning level and competence If there is, based on the longitudinal balance with the previous class, the subject area and sequence, thematic specificity and Originality is included. It includes constructive and decision-making methods and processes for facilitating learning Student evaluation has been organized by mentioning the method and process of evaluation.

2. Level of Competency

After studying at the secondary level (Class 11 and 12), students will acquire the following competencies in accounting are:

1. Familiarity with the meaning, principles and objectives of accounting and the use of double and single entry accounting systems.
2. Preparation of inventory and accounts of fixed assets for initial accounting recording of financial transactions and use.
3. Accounting records and financial records of corporations, sole proprietorships, partnerships, non-profit organizations and other types of firms. Detail preparation and presentation
4. Goshwara vouchers of government financial transactions, bank cash account, expenditure apportionment and budget accounts
   Preparation and use
5. Understanding of purpose and features of Single Account Funding System and use as needed
6. Classification of companies and recording of share transactions
7. Use of Karnapatra and its recording
8. Description and recording of purpose and scope of financial statement and preparation and use of cash flow statement
9. Recording and use of material, labor, unit or product cost accounting
10. Journal and Ledger Entry

Scope and Sequence of Contents

CHAPTER: 1 COMPANY AND ITS FORMATION

1. Meaning and Definition
2. Characteristics of Company
3. Types of Company
4. Company Promoters
5. Main Documents of Company

CHAPTER: 2 ACCOUNTING FOR SHARE

1. Meaning and Definition
2. Meaning of Share
3. Types of Preference Shares.
4. Issue of shares for cash on lump sum basis:
5. Issue of Shares for Cash on Installment Basis
6. Calls in Arrears
7. Calls in Advance
8. Minimum Subscription and Under Subscription
9. Over Subscription
10. Forfeiture of Shares
11. Reissue of Forfeited Share
12. Issue of Shares for Non-cash Consideration
13. Goodwill
14. Capital Reserve
15. Underwriting the Shares
16. Issue of Shares to the Company Promoters

CHAPTER: 3 ACCOUNTING FOR DEBENTURES

1. Meaning and Definition
2. Characteristics/Features of Debenture
3. Importance of Debenture
4. Types of Debentures
5. Calls in Arrear
6. Calls in Advance
7. Over Subscription of Debenture
8. Under Subscription of Debenture
9. Issue of Debenture for Non-Cash Consideration
10. Issue of Debenture with Redeemable Conditions
11. Redemption of Debenture
12. Methods of Redemption
13. Redemption by paying cash
14. Redemption by Conversion
15. Issue of Debenture with Redeemable Conditions

CHAPTER: 4 PREPARATION OF FINANCIAL STATEMENT

1. Meaning and Definition
2. Features of Financial Statements
3. Importance and objectives of Financial Statement
4. Limitations of Financial Statements
5. Preparation of Financial Statements under Traditional Method.
6. Importance and Advantages of Trading Account
7. Profit and Loss Account
8. Importance and Advantages of Profit and Loss Account
9. Profit and Loss Appropriation Account
10. Importance and Advantages of Profit and Loss Appropriation Account
11. Balance Sheet
12. Importance and Advantages of Balance Sheet
13. Preparation of Balance Sheet
14. Marshalling of Assets and Liabilities
15. Adjustment and Their Accounting Treatment
16. Preparation of Financial Statements under Modern Method.
17. Income Statement
18. Components of an Income statement
19. Types of Income Statement
20. Single Step Income Statement
21. Multi-step Income Statement
22. Statement of Retained earnings
23. Statement of Financial Position or Balance Sheet
24. Elements of a Statement of Financial Position
25. Statement of Changes in Shareholder’s Equity
26. Shareholders Register Book

CHAPTER: 5 WORK SHEET

1. Meaning and Definition
2. Format of a Work-Sheet
3. Description of Each Column of Work Sheet
4. Steps in Preparing Work-Sheet

CHAPTER: 6 CASH FLOW STATEMENT

1. Meaning and Definition
2. Importance of Cash Flow Statement
3. Classification of Cash Flow
4. Preparation of Cash Flow Statement

CHAPTER: 7 INTRODUCTION TO COST ACCOUNTING

1. Meaning and Definition
2. Objectives of Cost Accounting
3. Importance of Cost Accounting
4. Features/Characteristics of Cost Accounting
5. Advantages of Cost Accounting
6. Limitation of Cost Accounting
7. Financial Accounting
8. Objectives of Financial Accounting
9. Limitation of Financial Accounting
10. Cost Concept and Classification
11. Classification of Cost
12. Variable Cost:
13. Semi-variable Cost:

CHAPTER: 8 ACCOUNTING FOR MATERIALS

1. MEANING
2. Material Control
3. Objectives of Material Control
4. Essentials of material control
5. Material Scheduling or Routing
6. Material Purchasing
7. Purchase Department
8. Inviting Quotations
9. Placing a Purchase Order
10. Receiving and Inspecting
11. Meaning of Store and Storekeeping
12. Types of Stores
13. Central Store with Sub-Stores
14. Duties and Responsibilities of storekeeper
15. Classification and Codification of Materials
16. Bin Card
17. Issue of Material
18. Method of Pricing Material Issued

CHAPTER: 9 STOCK LEVEL

1. Meaning And Definition
2. Re-order Level (ROL)
3. Maximum Stock Level
4. Minimum Stock Level
5. Average Stock Level
6. Re-order Quantity
7. Economic Order Quantity (EOQ)
8. Computation of Economic Order Quantity (EOQ)

CHAPTER: 10 ACCOUNTING FOR LABOUR

1. Meaning and Definition
2. Types of Labour
3. Accounting for Labour
4. Control of Labour Cost
5. Need and Importance of Labour Cost Control
6. Departments involved in Controlling Labour Cost
7. System of Wage Payment
8. Time Rate System of Wage Payment

CHAPTER: 11 ACCOUNTING FOR OVERHEAD

1. Meaning and Definition
2. Classification of Overhead
3. Absorption of Overhead

CHAPTER: 12 UNIT OR OUTPUT COSTING

1. Meaning and Definition
2. Importance of Unit or Output Costing
3. Limitation of Unit or Output Costing
4. Tender/Quotation
5. Tender Forms