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CBSE Class 12 Accountancy Syllabus 2020-21 (Revised & Reduced By 30%): Download PDF

CBSE Class 12 Accountancy Syllabus 2020-21 (Revised & Reduced By 30%) is available here for download in PDF format. Link to download CBSE Syllabus for Class 12 Accountancy Syllabus is given at the end of this article. It contains complete details about the course structure, exam pattern, projects and other important details. The information available in this Class 12 Accountancy Syllabus is important for the preparation of upcoming CBSE Class 12 Accountancy Board Exam 2021.

CBSE Sample Paper for Class 12 Accountancy Board Exam 2021 (Issued by CBSE)

⇒ CBSE Class 12 Sample Papers & Marking Scheme: All Subjects

⇒ CBSE 12th Date Sheet 2021: CBSE Class 12 Time Table 2021 for All Streams

CBSE Class 12 Accountancy Syllabus 2020-21 (Revised): 

Theory: 80 Marks, 3 Hours, Project: 20 Marks 

Units

 

Periods

Marks

Part A

Accounting for Not-for-Profit Organizations, Partnership Firms and Companies

 

 

 

Unit 1. Financial Statements of Not-for-Profit Organizations

25

10

 

Unit 2. Accounting for Partnership Firms

65

30

 

Unit 3. Accounting for Companies

25

20

 

 

115

60

Part B

Financial Statement Analysis

 

 

 

Unit 4. Analysis of Financial Statements

30

12

 

Unit 5. Cash Flow Statement

20

8

 

 

50

20

Part C

Project Work

10

20

 

Project work will include:

 

 

 

Project File

4 Marks

 

 

 

Written Test

12 Marks (One Hour)

 

 

 

Viva Voce

4 Marks

 

 

Or

Part B

Computerized Accounting

 

 

 

Unit 4. Computerized Accounting

50

20

Part C

Practical Work

20

20

 

Practical work will include:

 

 

 

Practical File 4 Marks

 

 

 

Practical Examination 12 Marks (One Hour)

 

 

 

Viva Voce 4 Marks

 

 

Also Check: CBSE Syllabus 2020-21: Check Deleted Topics From 12th Accountancy Syllabus 2020-21

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Part A: Accounting for Not-for-Profit Organizations, Partnership Firms and Companies

Unit 1: Financial Statements of Not-for-Profit Organizations 

Units/Topics

• Not-for-profit organizations: concept.

• Receipts and Payments Account: features and preparation.

• Income and Expenditure Account: features, preparation of income and expenditure account and balance sheet from the given receipts and payments account with additional information.

Scope:

(i) Adjustments in a question should not exceed 3 or 4 in number and restricted to subscriptions,

consumption of consumables, funds and sale of assets/ old material/funds.

(ii) Entrance/admission fees and general donations are to be treated as revenue receipts.

(iii) Trading Account of incidental activities is not to be prepared.

Unit 2: Accounting for Partnership Firms

Units/Topics

• Partnership: features, Partnership Deed.

• Provisions of the Indian Partnership Act 1932 in the absence of partnership deed.

• Fixed v/s fluctuating capital accounts. Preparation of Profit and Loss Appropriation

account- division of profit among partners, guarantee of profits.

• Past adjustments (relating to interest on capital, interest on drawing, salary and profit

sharing ratio).

• Goodwill: nature, factors affecting and methods of valuation - average profit, super profit and capitalization.

Note: Interest on partner's loan is to be treated as a charge against profits.

Goodwill to be adjusted through partners capital/ current account (AS 26)

Accounting for Partnership firms - Reconstitution and Dissolution.

• Change in the Profit Sharing Ratio among the existing partners - sacrificing ratio,

gaining ratio, accounting for revaluation of assets and reassessment of liabilities and

treatment of reserves and accumulated profits. Preparation of revaluation account

and balance sheet.

• Admission of a partner - effect of admission of a partner on change in the profit sharing

ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and reassessment of liabilities, treatment of reserves and accumulated profits 

• Retirement and death of a partner: effect of retirement / death of a partner on change in profit sharing ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and reassessment of liabilities, adjustment of accumulated profits and reserves and preparation of balance sheet.

• Calculation of deceased partner’s share of profit till the date of death.

• Dissolution of a partnership firm: meaning of dissolution of partnership and partnership firm, types of dissolution of a firm. Settlement of accounts - preparation of realization account, and other related accounts: capital accounts of partners and cash/bank a/c (excluding memorandum balance sheet, piecemeal distribution, sale to a company and insolvency of partner(s)).

Note:

(i) The realized value of each asset must be given at the time of dissolution.

(ii) In case, the realization expenses are borne by a partner, clear indication should be given regarding the payment thereof.

Unit - 3 Accounting for Companies

Units/ Topics

Accounting for Share Capital

• Share and share capital: nature and types.

• Accounting for share capital: issue and allotment of equity and preferences shares. Public subscription of shares - over subscription and under subscription of shares; issue at par and at premium, calls in advance and arrears (excluding interest), issue of shares for consideration other than cash.

• Concept of Private Placement and Employee Stock Option Plan (ESOP).

• Accounting treatment of forfeiture and reissue of shares.

• Disclosure of share capital in the Balance Sheet of a company.

Accounting for Debentures

• Debentures: Issue of debentures at par, at a premium and at a discount. Issue of debentures for consideration other than cash; 

Issue of debentures with terms of redemption; debentures as collateral security concept, interest on debentures. Writing off discount / loss on issue of debentures.

Note: Discount or loss on issue of debentures to be written off in the year debentures are allotted from Security Premium Reserve (if it exists) and then from Statement of Profit and Loss as Financial Cost (AS 16).

Note: Related sections of the Companies Act, 2013 will apply.

Part B: Financial Statement Analysis

Unit 4: Analysis of Financial Statements

Units/Topics

Financial statements of a Company:

Statement of Profit and Loss and Balance Sheet in prescribed form with major headings and sub-headings (as per Schedule III to the Companies Act, 2013)

Note: Exceptional items, extraordinary items and profit (loss) from discontinued operations are excluded.

• Financial Statement Analysis: Objectives, importance and limitations.

• Tools for Financial Statement Analysis: Comparative statements, common size statements, cash flow analysis, ratio analysis.

• Accounting Ratios: Meaning, Objectives, classification and computation.

• Liquidity Ratios: Current ratio and Quick ratio.

• Solvency Ratios: Debt to Equity Ratio, Total Asset to Debt Ratio, Proprietary Ratio and Interest Coverage Ratio.

• Activity Ratios: Inventory Turnover Ratio, Trade Receivables Turnover Ratio, Trade Payables Turnover Ratio and Working Capital Turnover Ratio.

• Profitability Ratios: Gross Profit Ratio, Operating Ratio, Operating Profit Ratio, Net Profit Ratio and Return on Investment.

Note: Net Profit Ratio is to be calculated on the basis of profit before and after tax.

Unit 5: Cash Flow Statement

Units/Topics

• Meaning, objectives and preparation (as per AS 3 (Revised) (Indirect Method only)

Note:

(i) Adjustments relating to depreciation and amortization, profit or loss on sale of assets including investments, dividend (both final and interim) and tax.

(ii) Bank overdraft and cash credit to be treated as short term borrowings.

(iii) Current Investments to be taken as Marketable securities unless otherwise specified

Note: Previous years’ Proposed Dividend to be given effect, as prescribed in AS-4, Events occurring after the Balance Sheet date. Current years’ Proposed Dividend will be accounted for in the next year after it is declared by the shareholders.

Project Work

From session 2020-21 onwards, there would be only ONE project (specific) to be prepared.

Note: Kindly refer to the related Guidelines published by the CBSE.

OR

Part B: Computerised Accounting

Unit 3: Computerised Accounting

Overview of Computerised Accounting System

• Introduction: Application in Accounting.

• Features of Computerised Accounting System.

• Structure of CAS.

• Software Packages: Generic; Specific; Tailored.

Accounting Application of Electronic Spreadsheet.

• Concept of electronic spreadsheet.

• Features offered by electronic spreadsheet.

• Application in generating accounting information - bank reconciliation statement; asset accounting; loan repayment of loan schedule, ratio analysis

• Data representation- graphs, charts and diagrams.

Using Computerized Accounting System.

• Steps in installation of CAS, codification and Hierarchy of account heads, creation of accounts.

• Data: Entry, validation and verification.

• Adjusting entries, preparation of balance sheet, profit and loss account with closing entries and opening entries.

• Need and security features of the system.

Database Management System (DBMS)

• Concept and Features of DBMS.

• DBMS in Business Application.

• Generating Accounting Information - Payroll

Part C: Practical Work

Please refer to the guidelines published by CBSE (Check PDF).

Prescribed Books:

Financial Accounting -I Class XI NCERT Publication

Accountancy -II Class XI NCERT Publication

Accountancy -I Class XII NCERT Publication

Accountancy -II Class XII NCERT Publication

Accountancy – Computerised Accounting System Class XII NCERT Publication

Guidelines for Project Work in Accounting and Practical work in computerised Accounting Class XII CBSE Publication.

CBSE Class 12 Accountancy Syllabus (Reduced) 2020-21 (Released on 7th July)

CBSE Class 12 Accountancy Syllabus: 2020-21 (April)  

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