Accountancy Class 12 CBSE Syllabus
Class 12 Accountancy students should refer to the following curriculum for NCERT Class 12 Accountancy. These CBSE NCERT KVS Syllabus for Grade 12 Accountancy will be very useful for preparing for upcoming exams and help you to score good marks
Accountancy CBSE Syllabus Class 12
Part A: Accounting for Partnership Firms and Companies 60 Marks 150 Periods
Unit 1: 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 & Loss Appropriation accountdivision 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.
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 re-assessment of liabilities and distribution of reserves and accumulated profits.
- 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 re - assessment 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 re - assessment 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 partnership firms: types of dissolution of firm. Settlement of accounts - preparation of realization account, and other related accounts (excluding piecemeal distribution, sale to a company and insolvency of partner(s)).
Note: (i) If value of asset is not given, its realised value should be taken as nil.
(ii) In case, the realisation expenses are borne by a partner, clear indication should be given regarding the payment thereof.
Unit -2 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, Public subscription of shares - over subscription and under subscription of shares; Issue at par and at premium and at discount, calls in advance and arrears (excluding interest), issue of shares for consideration other than cash.
- 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 premium and at 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).
Part B: (i) Financial Statement Analysis
Unit 3: 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 VI to the Companies Act, 1956).
Scope: Exceptional Items, Extraordinary Items and Profit (loss) from Discontinued Operations are excluded.
- Financial Statement Analysis: Objectives 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: Stock Turnover Ratio, Debtors Turnover Ratio, Creditors 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: As ratio analysis is a managerial tool, for the computation of profitability ratios, relevant information should be specified whether it is a part of Statement of Profit and Loss as per Schedule VI or not.
Please refer to attached file for CBSE Class 12 Accountancy Syllabus 2014-2015