In any firm or corporation, it’s critical to assess the venture’s financial success. The measurement, processing and communication of a business’s, corporations, or other economic entity’s financial data are all part of the field of accountancy or accounting. Accounting measures and communicates the results of an organization’s economic activities to users such as investors, creditors, regulators, and management. Accountancy will offer you a complete understanding of accounting and basic accounting ideas if you take it in Class 11-12. You’ll learn about new developments in financial statement preparation, expenditure, accounting database architecture, and company transaction recording.
Syllabus of accountancy of class 12th
Going through the syllabus of accountancy should be the first step every student should take. For that, access to Accountancy NCERT Books Class 12 is very important. The syllabus of accountancy is given below:
Part 1
Theory: 40 Marks
Duration: 90 minutes
Project Work (Part -1) – 10 marks
| Unit | TERM 1 (MCQ) | Marks |
| Part A | Accounting for Partnership Firms | |
| 1 | Fundamentals | |
| 2 | Change In Profit Sharing Ratio | 18 |
| 3 | Admission Of a Partner | |
| Company Accounts: Accounting For Shares | 12 |
Part A
Unit: Accounting for Partnership Firms Units/Topics
- In the lack of a partnership deed, the Indian Partnership Act of 1932 applies.
- Features of a Partnership, as well as the Partnership Deed.
- Capital accounts that are fixed vs. capital accounts that fluctuate. Profit and Loss Statement Appropriation account: profit distribution among partners, profit guarantee.
- Previous alterations (relating to interest on capital, interest on drawing, salary, and profit-sharing ratio).
- Goodwill: nature, influencing elements, and valuation methodologies – average profit, super profit, and capitalization.
Reconstitution of Accounting for Partnership Firm
Changes in the Profit-Sharing Ratio among existing partners – sacrificing ratio, gaining ratio, accounting for revaluation of assets and liabilities, and treatment of reserves and accrued profits Revaluation account and balance sheet preparation.
Admission of a partner – impact on profit sharing ratio, treatment of goodwill (as per AS 26), treatment of revaluation of assets and reassessment of liabilities, and treatment of reserves and accumulated profits
Companies Accounting: –
- Share Capital Accounting
- Nature and forms of shares and share capital.
- Issue and allotment of equity and preference shares are part of the accounting for share capital. Oversubscription and under subscription of shares; issued at par and premium; calls in advance and arrears (excluding interest); and the issue of shares for consideration other than cash are all examples of public subscription of shares.
- Employee Stock Option Plan (ESOP) and Private Placement Concept.
- Forfeiture and reissue of shares are treated differently in accounting.
- In a company’s balance sheet, share capital is disclosed.
| Part B | Analysis of financial statement | Marks |
| A company’s financial statement A profit and loss statement, as well as a balance sheet with sub and major categories, are included Tools of analysis – Ratio analysis. | 10 | |
| Accounting Ratios | ||
| OR | ||
| Computerized accounting | ||
| 0f an overview Accounting Application of Electronic Spreadsheet in a Computerized Accounting System | 10 |
Part B
Analysis of financial statement
A company’s financial statements include a profit and loss statement and a balance sheet in the required format, with major headings and subheadings (as per Schedule III of the Companies Act, 2013)
- The Goals, Importance, and Limitations of Financial Statement Analysis
- Comparative statements, common-size statements, cash flow analysis, and ratio analysis are all tools used in financial statement analysis.
- Meaning, Objectives, Classification, and Calculation of Accounting Ratios
- Current and Quick Liquidity Ratios are two types of liquidity ratios.
- Debt to Equity Ratio, Total Asset to Debt Ratio, Proprietary Ratio, and Interest Coverage Ratio are all examples of solvency ratios.
- Inventory Turnover Ratio, Trade Receivables Turnover Ratio, Trade Payables Turnover Ratio, and Working Capital Turnover Ratio are examples of activity ratios.
- Gross Profit Ratio, Operating Ratio, Operating Profit Ratio, Net Profit Ratio, and Return on Investment are all examples of profitability ratios.
OR
Computerized Accounting
Computerized Accounting System Overview
- Accounting Application (Introduction).
- Computerized Accounting System Features
- The CAS structure.
- Generic, specific, and tailored software packages are available.
The Use of Electronic Spreadsheets in Accounting
- Electronic spreadsheet concept.
- Electronic spreadsheets provide a variety of features.
- Bank reconciliation statement; asset accounting; loan repayment plan; ratio analysis are all examples of applications in creating accounting information.
- Graphs, charts, and diagrams are used to represent data.
Part 2
Total theory – 40 marks
Project work (Part – 2)
| Units | Term 2 | Marks |
| Part A | Accounting for Not-For Profit Organizations | 10 |
| 1 | Firm Accounting for a Partnership | |
| 2 | Retirement and a Partner’s Death | 12 |
| 3 | Dissolution Of Partnership Firms | |
| Debenture Accounting in a Company’s Accounts | 08 |
Part A
Accounting for Not – For Profit Organizations
- The concept of non-profit organizations.
- Features and preparation for the Receipts and Payments Account.
- Income and Expenditure Account: This feature allows you to create an income and expenditure account as well as a balance sheet from supplied receipts and payments.
Firm Accounting for a Partnership
- Reconstitution and Dissolution Accounting for Partnership Firms
Retirement and death of a partner: impact on profit sharing ratio, goodwill treatment, revaluation of assets and reassessment of liabilities, adjustment of accumulated profits and reserves, and balance sheet preparation.
Calculation of the profit share of the dead partner up to the date of death.
Dissolution Of Partnership Firms
The meaning of partnership dissolution and partnership firm dissolution, as well as the various types of firm dissolution. Settlement of accounts – preparation of realization account and other related accounts, such as capital accounts of partners and cash/bank a/c (excluding piecemeal distribution, sale to a firm, and partner insolvency).
Debenture Accounting in a Company’s Accounts
- Accounting for Debentures
Debentures: Debentures are issued at par, at a premium, or at discount. Debentures issued for something other than cash; debentures with redemption terms; debentures as a collateral security concept; interest on debentures. Discount/loss on debenture issue is being written off.
| Part B | Financial Statement Analysis | Marks |
| A company’s financial statement | 10 | |
| Statement of Cash Flows | ||
| OR | ||
| Computerized Accounting | ||
| Using a Database Management System with a Computerized Accounting System | 10 |
Part B
Analysis of Financial Statements
- Financial statements of a Company
- Comparative statements and common size statements are two tools for financial statement analysis.
Cash Flow Statement
- Meaning, goals, and planning (Indirect Method only)
OR
Computerized Accounting
- Using Computerized Accounting System
- Installation of CAS, account head codification and hierarchy, and account creation.
- Entry, validation, and verification of data.
- Making adjustments, preparing the balance sheet, and the profit and loss account with closing and opening entries.
- The system’s requirements and security features.
Database Management System (DBMS)
- DBMS Concepts and Features
- In a business application, a database management system (DBMS) is used.
- Payroll – Accounting Information Generating
NCERT books have maintained their status as the top academic aid for students in classes 12 and 13. The books and study tools assist students in improving their exam preparation as well as their confidence.
Also Read: How to create a communication strategy?