CBSE Class 12th Accountancy Course Structure 2023-24
CBSE Class 12th Accountancy Detailed Syllabus 2023-24
Part A: Accounting for Partnership Firms and Companies
Unit 1: Accounting for Partnership Firms
- Partnership: options, Partnership Deed.
- Provisions of the Indian Partnership Act 1932 within the absence of partnership deed.
- Fixed v/s fluctuating capital accounts. Preparation of Profit and Loss Appropriation account- division of revenue amongst companions, assure of earnings.
- Past changes (regarding curiosity on capital, curiosity on drawing, wage and revenue sharing ratio).
- Goodwill: that means, nature, components affecting and strategies of valuation – common revenue, tremendous revenue and capitalization.
- Interest on a accomplice’s mortgage is to be handled as a cost towards earnings.
Goodwill: that means, components affecting, want for valuation, strategies for calculation (common earnings, tremendous earnings and capitalization), adjusted by means of companions capital/ present account.
Accounting for Partnership companies – Reconstitution and Dissolution.
- Change within the Profit Sharing Ratio among the many present companions – sacrificing ratio, gaining ratio, accounting for revaluation of property and reassessment of liabilities and remedy of reserves, gathered earnings and losses. Preparation of revaluation account and stability sheet.
- Admission of a accomplice – impact of admission of a accomplice on change within the revenue sharing ratio, remedy of goodwill (as per AS 26), remedy for revaluation of property and re- evaluation of liabilities, remedy of reserves, gathered earnings and losses, adjustment of capital accounts and preparation of capital, present account and stability sheet.
- Retirement and dying of a accomplice: impact of retirement / dying of a accomplice on change in revenue sharing ratio, remedy of goodwill (as per AS 26), remedy for revaluation of property and reassessment of liabilities, adjustment of gathered earnings, losses and reserves, adjustment of capital accounts and preparation of capital, present account and stability sheet. Preparation of mortgage account of the retiring accomplice.
- Calculation of deceased accomplice’s share of revenue until the date of dying. Preparation of deceased accomplice’s capital account and his executor’s account.
- Dissolution of a partnership agency: that means of dissolution of partnership and partnership agency, varieties of dissolution of a agency. Settlement of accounts – preparation of realization account, and different associated accounts: capital accounts of companions and money/financial institution a/c (excluding piecemeal distribution, sale to an organization and insolvency of accomplice(s)).
- If the realized worth of tangible property isn’t given it must be thought of as realized at e-book worth itself.
- If the realized worth of intangible property isn’t given it must be thought of as nil (zero worth).
- In case, the conclusion bills are borne by a accomplice, clear indication must be given concerning the cost thereof.
Unit-3 Accounting for Companies
Accounting for Share Capital
- Features and kinds of firms.
- Share and share capital: nature and kinds.
- Accounting for share capital: challenge and allotment of fairness and preferences shares. Public subscription of shares – over subscription and below subscription of shares; challenge at par and at premium, calls prematurely and arrears (excluding curiosity), challenge of shares for consideration apart from money.
- Concept of Private Placement and Employee Stock Option Plan (ESOP), Sweat Equity.
- Accounting remedy of forfeiture and re- challenge of shares.
- Disclosure of share capital within the Balance Sheet of an organization.
Accounting for Debentures
- Debentures: Meaning, varieties, Issue of debentures at par, at a premium and at a reduction. Issue of debentures for consideration apart from money; Issue of debentures with phrases of redemption; debentures as collateral safety-idea, curiosity on debentures (idea of TDS is excluded). Writing off low cost / loss on challenge of debentures.
Note: Discount or loss on challenge of debentures to be written off within the 12 months debentures are allotted from Security Premium Reserve (if it exists) after which from Statement of Profit and Loss as Financial Cost (AS 16)
Part B: Financial Statement Analysis
Unit 4: Analysis of Financial Statements
Financial statements of a Company:
Meaning, Nature, Uses and significance of monetary Statement.
Statement of Profit and Loss and Balance Sheet in prescribed kind with main headings and subheadings (as per Schedule III to the Companies Act, 2013)
Note: Exceptional gadgets, extraordinary gadgets and revenue (loss) from discontinued operations are excluded.
- Financial Statement Analysis: Meaning, Significance Objectives, significance and limitations.
- Tools for Financial Statement Analysis: Comparative statements, widespread dimension statements, Ratio evaluation, Cash move evaluation.
- Accounting Ratios: Meaning, Objectives, Advantages, 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. Debt to Capital Employed Ratio.
- Activity Ratios: Inventory Turnover Ratio, Trade Receivables Turnover Ratio, Trade Payables Turnover Ratio, Fixed Asset Turnover Ratio, Net Asset 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 idea of revenue earlier than and after tax.
Unit 5: Cash Flow Statement
- Meaning, goals Benefits, Cash and Cash Equivalents, Classification of Activities and preparation (as per AS 3 (Revised) (Indirect Method solely)
- Adjustments regarding depreciation and amortization, revenue or loss on sale of property together with investments, dividend (each remaining and interim) and tax.
- Bank overdraft and money credit score to be handled as quick time period borrowings.
- Current Investments to be taken as Marketable securities until in any other case specified.
Note: Previous years’ Proposed Dividend to be given impact, as prescribed in AS-4, Events occurring after the Balance Sheet date. Current years’ Proposed Dividend will probably be accounted for within the subsequent 12 months after it’s declared by the shareholders.
One particular undertaking primarily based on monetary assertion evaluation of an organization overlaying any two elements from the next:
- Comparative and customary dimension monetary statements
- Accounting Ratios
- Segment Reports
- Cash Flow Statements
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 digital spreadsheet.
- Features supplied by digital spreadsheet.
- Application in producing accounting data – financial institution reconciliation assertion; asset accounting; mortgage compensation of mortgage schedule, ratio evaluation.
- Data representation- graphs, charts and diagrams.
Using a Computerized Accounting System.
- Steps in set up of CAS, codification and Hierarchy of account heads, creation of accounts.
- Data: Entry, validation and verification.
- Adjusting entries, preparation of stability sheet, revenue and loss account with closing entries and opening entries.
- Need and security measures of the system.
Part C: Practical Work
CBSE Class 12th Accountancy Prescribed Books
- Accountancy -I Class XII NCERT Publication
- Accountancy -II Class XII NCERT Publication
- Accountancy – Computerised Accounting System Class XII NCERT Publication
CBSE Class 12th Accountancy Question Paper Structure 2023-24
Frequently Asked Questions(FAQ’s)
- How can I put together for the CBSE Class 12th Accountancy Syllabus for 2023?
To put together for the CBSE Class 12th Accountancy Syllabus for 2023, it is best to: Familiarize your self with the syllabus and marking scheme, Study frequently and create a schedule Use textbooks, notes, and former 12 months papers to apply, Attend all lessons and ask questions, Prepare notes and summaries for revision, Practice with pattern papers and mock checks and Focus on understanding the ideas fairly than memorization.
- Is it essential to affix teaching lessons to attain effectively within the CBSE Class 12th Accountancy examination?
No, it isn’t essential to affix teaching lessons to attain effectively within the CBSE Class 12th Accountancy examination. However, when you really feel that you just want further assist, you’ll be able to be part of teaching lessons.
- What are the books that may assist me put together for the CBSE Class 12th Accountancy Syllabus for 2023?
Some of the really useful books for the CBSE Class 12th Accountancy Syllabus for 2023 are: Accountancy for Class XII by TS Grewal, Double Entry Book Keeping by TS Grewal, Accountancy: Analysis of Financial Statements by NCERT and Accountancy: Company Accounts and Analysis of Financial Statements by NCERT.
- What is the examination sample for the CBSE Class 12th Accountancy Syllabus for 2023?
The CBSE Class 12th Accountancy examination for 2023 will consist of one idea paper and one sensible paper. The idea paper will probably be of 80 marks and will probably be three hours lengthy. The sensible paper will probably be of 20 marks and will probably be of 20 hours length.
- What is the CBSE Class 12th Accountancy Syllabus for 2023?
The CBSE Class 12th Accountancy Syllabus for 2023 consists of the next matters: Partnership Accounts, Company Accounts and Financial Statements Analysis, Accounting for Not-for-Profit Organizations and Partnership Firms, Accounting for Share Capital and Debentures, Analysis of Financial Statements and Cash Flow Statement.
- What are the marking schemes for the CBSE Class 12th Accountancy Syllabus for 2023?
The CBSE Class 12th Accountancy Syllabus for 2023 has a complete of 80 marks. The idea paper is for 80 marks, whereas the sensible paper is for 20 marks.
- What are the vital matters to give attention to within the CBSE Class 12th Accountancy Syllabus for 2023?
All matters are vital within the CBSE Class 12th Accountancy Syllabus for 2023, however some of a very powerful matters embody Financial Statements Analysis, Accounting for Share Capital and Debentures, and Analysis of Financial Statements.