CBSE Class 12 Accountancy Syllabus 2011 2012 Term 2

CLASS XII

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

Unit 1: Accounting for Not-for-profit Organisations 

➣ Meaning and features of not for profit organisations.

➣ Meaning and features of fundbased acccounting.

➣ Receipts and payments Account

➣ Preparation of Income and Expenditure Account and Balance Sheet from Receipt and Payment Account with additional information.

Unit 2: Accounting for Partnership Firms - I 

➣ Nature of Partnership firm, Partnership Deed-meaning, importance.

➣ Partners' Capital Accounts : Fixed vs Fluctuating Capital, Division of Profit among partners, Profit and Loss Appropriation Account including past adjustments.

Unit 3: Accounting for Partnership Firms - II

Changes in Profit Sharing Ratio among the existing partners-Sacrificing Ratio and Gaining Ratio. 

➣ Accounting for Revaluation of Assets and Liabilities and distribution of reserves (Accumulated Profits).

➣ Goodwill: Nature, Factors affecting and methods of valuation: Average profit, Super profit and Capitalisation methods.

➣ Admission of a Partner: Effect of Admission of Partner, Change in Profit Sharing Ratio, Accounting Treatment for Goodwill (as per AS 10), Revaluation of Assets and Liabilities, Adjustment of Capitals.

➣ Retirement/Death of a Partner: Change in Profit Sharing ratio, accounting treatment of Goodwill, Revaluation of Assets and Liabilities, Adjustment of Capitals. Dissolution of a partnership firm. (excluding Garner Vs Murrey and Peace Meal System).

Unit 4: Accounting for Share Capital and Debenture 

➣ Share Capital: Meaning and Types.

➣ Accounting for share capital: Issue and Allotment of Equity and Preference Shares;  public subscription of shares : over subscription and under subscription; issue at par, premium and at discount; calls in advance, calls in arrears, issue of shares for consideration other than cash. Meaning of Private placement of shares and employee stock option plan.

➣ Forfeiture of shares : accounting treatment, re-issue of forfeited shares.

➣ Presentation of Share Capital in company’s Balance Sheet.

➣ Issue of debentures at par and Premium; writing of loss on issue of debentures; Issue of debentures as collatoral security; issue of debentures for consideration other than cash.

➣ Redemption of debentures; sources : out of profits - debenture redemption reserve; out of capital-methods : lump sum payment, draw by lots, purchase in the open market and conversion (excluding cum-interest and ex-interest).

Part B: Financial Statement Analysis

Unit 5: Analysis of Financial Statements 

➣ Financial Statements of a Company: preparation of simple balance sheet of a company in the prescribed form with major headings only.

➣ Financial Statement Analysis: meaning, significance, limitations,

➣ Tools for Financial Statement Analysis: Comparative Statements, Common Size Statements, Accounting Ratios: meaning and objectives, types of ratios:

Liquidity Ratios:   Current Ratio, Liquid Ratio

Solvency Ratios:  Debt to Equity, Total Assets to Debt. Proprietary Ratio

Activity Ratios:     Inventory Turnover, Debtors Turnover, Payable Turnover, Working Capital Turnover, Fixed Assets Turnover,

Profitability Ratio: Gross Profit, Operating, Net Profit, Return on Investment, Earning per Share, Dividend per Share, Price Earning Ratio

Unit 6: Cash Flow Statement 

➣ Cash Flow Statement: Meaning and objectives, preparation, adjustments related to depreciation, dividend and tax, sale and purchase of non-current assets (as per revised standard issued by ICAI)

Please refer to attached file for CBSE Class 12 Accountancy Syllabus 2011-2012