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CBSE Class 12 Accountancy Syllabus 2018 - 2019

Apr 18, 2018 10:48 IST
CBSE Syllabus for Class 12 Accountancy

CBSE Class 12 Accountancy Syllabus for the academic session 2018 - 2019 is available here. Major changes are observed in the new syllabus. Students preparing for Class 12 Accountancy Board exam are requested to note these changes carefully.

In latest CBSE Class 12 Accountancy Syllabus student will get the following details:

• Name of the Units and their weightage in Board Exam

• Details of topics and sub-topics to be covered in each unit

• Detail of Project Work

• Detail of Practical Work

• Prescribed textbooks

Important portion of CBSE Class 12 Accountancy Syllabus is given below:

Name of the Units and their weightage in Board Exam

One Paper | Theory: 80 Marks | 3 hours

Units


Marks

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


Unit ‒ 1

Financial Statements of Not-for-Profit Organizations

10

Unit ‒ 2

Accounting for Partnership Firms

35

Unit ‒ 3

Accounting for Companies

15



60

Part B: Financial Statement Analysis


Unit ‒ 4

Analysis of Financial Statements

12

Unit ‒ 5

Cash Flow Statement

8



20



 

Part C: Project Work

20


Project will include:

 


Project File

4 Marks

 


Written Test

12 Marks (one hour)

 


Viva Voice

4 Marks

 

OR

Part B: Computerized Accounting

 

 

Unit 4. Computerized Accounting

20

 


 

Part C: Practical Work

20


Practical work will include

 


Practical File

4 Marks

 


Practical Examination

12 Marks (one hour)

 


Viva Voice’

4 Marks

 

Details of topics and sub-topics to be covered in each unit

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

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

• 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.

CBSE Class 12 Accountancy Board Exam 2018: Paper analysis and review

Unit 2: Accounting for Partnership Firms

• 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.

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, adjustment of capital accounts and preparation of balance sheet.

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, adjustment of capital accounts and preparation of balance sheet. Preparation of loan account of the retiring partner.

• Calculation of deceased partner’s share of profit till the date of death. Preparation of deceased partner’s capital account, executor’s account and preparation of balance sheet.

Dissolution of a 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 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

Accounting for Share Capital

• Share and share capital: nature and types.

• Accounting for share capital: issue and allotment of equity shares, private placement of shares, Employee Stock Option Plan (ESOP). 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 re-issue of shares.

• Disclosure of share capital in company’s Balance Sheet.

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.

Redemption of debentures: Lump sum, draw of lots and purchase in the open market (excluding ex interest and cum-interest). Creation of Debenture Redemption Reserve. 

Conversion method

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

CBSE Class 12 Accountancy Previous Years’ Question Papers

Part B: Financial Statement Analysis

Unit 4: Analysis of Financial Statements

Financial statements of a company: Statement of Profit and Loss and Balance Sheet in the 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: 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 before and after tax.

Unit 5: Cash Flow Statement

• 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 investment, 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.

Project Work

Please refer to the guidelines published by CBSE.

OR

Part B: Computerised Accounting

Unit 4: 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 guidelines published by CBSE.

Prescribed books

1. Accountancy – I Class XII NCERT Publication

2. Accountancy – II Class XII NCERT Publication

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

Download CBSE Class 12 Accountancy Syllabus 2018 - 2019 in PDF format

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