Principles of Accounting Notes for I.Com (Part-II)

Principles of Accounting / Financial Accounting Notes for D.B.A / D.Com / I.Com (Part-II) / I.Com Part 2 /2nd Year / 12th Class / XII / HSSC-II. Intermediate Level (HSSC-II) students of Federal Board of Intermediate & Secondary Education (FBISE) or any Board of Intermediate & Secondary Education of Punjab, Sindh, KPK, Balochistan and Azad Kashmir and can get benefit from these notes. By studying our notes, we can guarantee you for getting maximum marks in your exams.

Accounting Notes 2nd Year / 12th Class / XII / HSSC-II for Federal and Any Intermediate Board

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Solved Annual and Supplementary Questions Paper

Solved Past / Old  Annual and Supplementary Questions Paper of Principles of Accounting or Financial Accounting for Board of Intermediate and Secondary Education (BISE) like Federal ,Punjab, Sindh, KPK, Balochistan and Azad Kashmir

Solved Past / Old Papers of  Principles of Accounting HSSC-II for Federal Board (FBISE)

Old / Past Annual and Supplementary Solved Questions Paper of Principles of Accounting I.Com Part 2 (Part-II) for Federal Board of Intermediate and Secondary Education (FBISE)

Annual Papers

1. 2016
2. 2017
3. 2018
4. 2019
5. 2020 ( due to Corona paper is not Conducted)
6. 2021
7. 2022
8. 2023

Supplementary Papers

1. 2016
2. 2017
3. 2018

 Annual and Supplementary Questions Paper

Past / Old  Annual and Supplementary Questions Paper of Principles of Accounting or Financial Accounting for Board of Intermediate and Secondary Education (BISE) like Federal ,Punjab, Sindh, KPK, Balochistan and Azad Kashmir

Past / Old Papers of Principles of Accounting – I.com-II (FBISE)

Old / Past Annual and Supplementary Questions Paper of Principles of Accounting for Federal Board of Intermediate and Secondary Education (FBISE)

Annual Papers

1. 2010
2. 2011
3. 2012
4. 2013
5. 2014
6. 2015
7. 2016
8. 2017
9. 2018
10. 2019
11. 2020 ( due to Corona paper is not Conducted)
12. 2021
13. 2022
14. 2023

Supplementary Papers

1. 2016
2. 2017
3. 2018
4. 2022

Financial or Principles of Accounting Book

Chapter Wise Problems with Answers of Principles of Accounting / Financial Accounting Book  written by Sohail Afzal, M. Arif Ch., Gul Amir Malik, Ch. Muhammad Hanif and M. A. Ghani

Principles of Accounting Book for I.com-II by M.Arif Ch and Sohail Afzal

1. Chapter # 03 – Consignment Accounts
2. Chapter # 05 – Depreciation, Provisions and Reserves

Solution of Principles of Accounting / Financial Accounting

Key / Solution manual  of Principles of Accounting Book written by Sohail Afzal, M. Arif Ch., Gul Amir Malik, Ch. Muhammad Hanif and M. A. Ghani

Solution of Principles of Accounting for I.com-II by M.Arif Ch and Sohail Afzal

Numerical Solution of Questions

1. Chapter # 01 – Accounts from Incomplete Records 
2. Chapter # 02 –  The Accounts of Non-Profit Making Organization
3. Chapter # 03 –  Consignment Accounts
4. Chapter # 04 – Accounts of Joint Stock Companies
5. Chapter # 05 – Depreciation Provision and Reserves
6. Chapter # 06 – Partnership Accounts – Profit Distribution
7. Chapter # 07 –  Partnership Account – Admission of Partner 
8. Chapter # 08 – Partnership Accounts – Retirement and Death of Partner
9. Chapter # 09 – Partnership Accounts – Dissolution of Firm

Short  Question Answer 

1. Short Answer – Chapter # 01 – Accounts from Incomplete Record
2. Short Answer – Chapter # 02 – The Accounts of Non-Profit Making Organization
3. Short Answer – Chapter # 03 – Consignment Accounts
4. Short Answer – Chapter # 04 – Accounts of Joint Stock Companies
5. Short Answer – Chapter # 05 – Depreciation, Provisions and Reserves 
6. Short Answer – Chapter # 06 – Partnership Account – Profit Dissolution 
7. Short Answer – Chapter # 07 – Partnership Account – Admission of Partner 
8. Short Answer – Chapter # 08 – Partnership Account – Retirement and Death of Partner 
9. Short Answer – Chapter # 09 – Partnership Account – Dissolution of Firm

Solution Principles of Accounting I.Com-II M.Arif Ch. & Sohail Afzal New / Latest Edition

Numerical Solution of Questions

1. Chapter # 01 – Accounts from Incomplete Records 
2. Chapter # 02 –  The Accounts of Non-Profit Making Organizations
3. Chapter # 03 –  Consignment Accounts
4. Chapter # 04 – Accounts of Joint Stock Companies
5. Chapter # 05 – Depreciation Provision and Reserves
6. Chapter # 06 – Partnership Accounts – Profit Distribution
7. Chapter # 07 –  Partnership Account – Admission of Partner
8. Chapter # 08 – Partnership Accounts – Retirement and Death of Partner
9. Chapter # 09 – Partnership Accounts – Dissolution of Firm

Short  Question Answer 

1. Short Answer – Chapter # 01 – Accounts from Incomplete Record
2. Short Answer – Chapter # 02 – The Accounts of Non-Profit Making Organization
3. Short Answer – Chapter # 03 – Consignment Accounts
4. Short Answer – Chapter # 04 – Accounts of Joint Stock Companies
5. Short Answer – Chapter # 05 – Depreciation, Provisions and Reserves 
6. Short Answer – Chapter # 06 – Partnership Account – Profit Dissolution 
7. Short Answer – Chapter # 07 – Partnership Account – Admission of Partner 
8. Short Answer – Chapter # 08 – Partnership Account – Retirement and Death of Partner 
9. Short Answer – Chapter # 09 – Partnership Account – Dissolution of Firm

Solution / Key to Financial Accounting for D.Com and D.B.A Part – II by Gul Amir Malik

1. Solution of Chapter # 01 – Accounting For Manufacturing Concerns
2. Solution of Chapter # 02 – Material Costing Methods
3. Solution of Chapter # 03 – Accounting For Non Trading Concerns
4. Solution of Chapter # 04 – Partnership Accounting – Distribution of Profits
5. Solution of Chapter # 05 – Partnership Accounting – Admission of New Partner
6. Solution of Chapter # 06 – Partnership Accounting – Retirement of A Partner
7. Solution of Chapter # 07 – Partnership Accounting – Dissolution
8. Solution of Chapter # 08 – Accounting for Corporation – Formation
9. Solution of Chapter # 09 – Corporation Financial Statement
10. Solution of Chapter # 10 – Depreciation of Fixed Assets
11. Solution of Chapter # 11 – International Accounting Standards

Solution of Principles of Accounting I.com part 2 by Ch. Muhammad Hanif

• Complete Book Solution

Solution / Key to  Principles of Accounting by M.A. Ghani

1. Solution of Chapter # 01 – Accounts of Non-Trading Concerns
2. Solution of Chapter # 02 – Accounts From Incomplete Records
3. Solution of Chapter # 03 – Consignment Accounts
4. Solution of Chapter # 04 – Joint Ventures
5. Solution of Chapter # 05 – Partnership Accounts
6. Solution of Chapter # 06 – Company Accounts
7. Solution of Chapter # 07 – Depreciation
8. Solution of Chapter # 08 – Provisions, Reserves and Sinking Funds

Guess Paper of Annual and Supplementary Exam

Guess Paper of Principles of Accounting for Federal Board (FBISE)

• Guess Paper Principles of Accounting for 2020
• Guess paper of Principles of Accounting for 2021 According to Reduce Syllabus
• Guess paper of Principles of Accounting  for I.Com – II  Annual exam 2022 for Federal Board (FBISE)
• Guess paper of Principles of Accounting  for I.Com – II  Annual exam 2023 for Federal Board (FBISE)
• Guess paper of Principles of Accounting  for I.Com – II  Annual exam 2024 for Federal Board (FBISE)

Guess Paper of Principles of Accounting for Intermediate Boards like Punjab, Sind, KPK, Balochistan

• Guess Paper of Principles of Accounting for I.Com – II Annual Exam 2022
• Guess Paper of Principles of Accounting for I.Com – II Annual Exam 2023
• Guess Paper of Principles of Accounting for I.Com – II Annual Exam 2024

Chapter Wise Notes, Practice Questions/ Problems with Answer

Depreciation , Provisions and Reserves

• Why Residual Value Ignore in Diminishing Balance Method
• Which Depreciation Method Best to Use  

Partnership Accounts

Admission of  A New Partner 

1. Sacrificing Ratio
2. New Profit Sharing Ratio
3. Calculate Sacrificing and New Profit Sharing Ratio
   1. When the new share of the incoming partner is given.
      • Sacrifice of the old partners are not given (Sacrifice in the old ratio)
      • Unequal sacrifice of the old partners (Unequal sacrifice)
      • Equal sacrifice of the old partners (Equal sacrifice)
      • Entire sacrifice by one of the partners.
   2. When the new share of the incoming partner is not given.
      • Sacrifice of the old partners are given.
   3. New profit sharing ratio is given. Calculate Sacrificing Ratio.

Retirement of  A New Partner 

1. Gaining Ratio
2. Calculate Gaining and New Profit Sharing Ratio
   1. When the new Profit Sharing Ratio of Old partner is given.
      • New Profit Sharing Ratio is Different or Not Same
      • New Profit Sharing Ratio is Same or Equal 
      • New Profit Sharing Ratio is Same as Between Old Partners
   2. When the new Profit Sharing Ratio of Old partner is given.
      • Only One Partner Acquire the Share of Retiring Partner 
      • More Than One Partners Acquire the Share of Retiring Partner (Proportion of Share Given)
      • More Than One Partners Acquire the Share of Retiring Partner (Proportion of Share Not Given)

• Admission of Partner – Theory and Practice Problem with Answer
• Retirement & Death of Partner – Theory and Practice Problem with Answer
• Difference Between Dissolution of Partnership and Dissolution of Firm

M.A Ghani

1. Partnership Account

Chapter Wise Multiple Choice (Mcqs) with Answers

1. Chapter # 01 – Accounts from Incomplete Records Mcqs
   • Profit Determination by Increased Net Worth Method MCQs
   • Profit Determination by Increase Net Worth Method Numerical MCQs with Solution 
   • Profit Determination by Conversion Method MCQs
2. Chapter # 02 – Non Profit Making Organization / Non Profit Seeking Organization / Non Trading Concern
3. Chapter # 03 – Consignment Account 
4. Chapter # 04 – Accounts of Joint Stock Companies
5. Chapter # 05 – Depreciation 
   • Chapter  # 05 – Depreciation statement MCQs
   • Chapter  # 05 – Depreciation ( Numerical MCQ’s with Solution)
6. Chapter # 06 – Partnership
   • Profit Distribution 
   • Admission of  A Partner
     1. 1. Statement MCQ’s
        2. Sacrificing and New Profit Sharing Ratio MCQ’s
   • Retirement of A Partner 
     1. 1. Statement MCQ’s
        2. Gaining and New Profit Sharing Ratio MCQ’s
   • Death of A Partner 
     1. 1. Statement MCQ’s

Chapter Wise Important Questions or Problems

• Chapter # 01 – Accounts from Incomplete Records or Single Entry System
• Chapter # 03 – Consignment Account
• Chapter # 04 – Joint Stock Company 
• Chapter # 05 – Depreciation
• Chapter # 06 – Profit Distribution – Partnership Account
• Chapter # 07 – Admission of Partner – Partnership Account

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