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CBSE Class 12 Accountancy Syllabus 2019-20 & Important Resources

Check new CBSE Class 12 Accountancy Syllabus for the academic session 2019-20. This syllabus is recently released by the Central Board of Secondary Education (CBSE) on its official website.

Nov 1, 2019 15:44 IST
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CBSE Class 12 Accountancy Syllabus 2019-20
CBSE Class 12 Accountancy Syllabus 2019-20

CBSE Class 12 Accountancy Syllabus 2019-20 is available here for download in PDF format. Link to download CBSE Syllabus for Class 12 Accountancy is given at the end of this article. This 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.

CBSE Sample Paper for Class 12 Accountancy Board Exam 2020 (Issued by CBSE)

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

⇒ CBSE 12th Date Sheet 2020: CBSE Class 12 Time Table 2020 for All Streams

Theory: 80 Marks, 3 Hours and 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

90

30

 

Unit 3. Accounting for Companies

35

20

 

 

150

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

20

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

 

 

 

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 and sale of assets/ old material.

(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.

CBSE Board Exam 2019: Class 12 Question Papers

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.

Goodwill to be adjusted through partners capital/current account or by raising and writing off goodwill (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, 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 and his executor’s account.

• 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 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 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 securityconcept, 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).

• Redemption of debentures-Methods: Lumpsum, draw of lots.

• Creation of Debenture Redemption Reserve.

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

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 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

• 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

Note: Kindly refer to the Guidelines published by the CBSE.
The comprehensive project may contain simple GST calculations.

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.

Prescribed Books:

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

For more details, please download the PDF of the syllabus.

Download CBSE Class 12 Accountancy Syllabus 2019-20 in PDF Format

 

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