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CBSE Syllabus for Class 12 Accountancy 2019-20 contains all the topics of this session. myCBSEguide provide you latest CBSE Syllabus for Class 12 Accountancy in PDF Format. We know Accountancy Subject will be complicated for some students and as well as some students love to do Accountancy. Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations. Student can Download CBSE Study material for class 12 in PDF format is now available in myCBSEguide mobile app. The curriculum for March 2020 exams is designed by CBSE, New Delhi as per NCERT textbooks for the session 2019-20.
CBSE Syllabus for class 12 Accountancy 2019-20
CBSE Syllabus Class 12 Accountancy
Theory: 80 Marks
Time: 3 Hours
Project: 20 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|
|Part B||Financial Statement Analysis|
|Unit 4. Analysis of Financial Statements||30||12|
|Unit 5. Cash Flow Statement||20||8|
|Part C||Project Work||20||20|
|Project work will include:|
|Project File||4 Marks|
|Written Test||12 Marks (One Hour)|
|Viva Voce||4 Marks|
|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
- 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.
- 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.
- Entrance/admission fees and general donations are to be treated as revenue receipts.
- Trading Account of incidental activities is not to be prepared.
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)).
- The realized value of each asset must be given at the time of dissolution.
- 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 security concept, 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: Lump sum, 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 subheadings (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)
- 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.
- Bank overdraft and cash credit to be treated as short term borrowings.
- 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.
Note: Kindly refer to the Guidelines published by the CBSE.
The comprehensive project may contain simple GST calculations.
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.
- Accountancy -I Class XII NCERT Publication
- 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.
Suggested Question Paper Design
Theory: 80 Marks
Time: 3 hours
Project: 20 Marks
|S No.||Typology of Questions||Objective Type/MCQ 1 Mark||Short Answer- I 3 Marks||Short Answer- II 4 Marks||Long Answer- I 6 Marks||Long Answer- II 8 Marks|
|1||Remembering: Exhibit memory of previously learned material by recalling facts, terms, basic concepts, and answers.||5||1||1||1||–|
|2||Understanding: Demonstrate understanding of facts and ideas by organizing, comparing, translating, interpreting, giving descriptions, and stating main ideas.||5||1||1||1||1|
|3||Applying: Solve problems to new situations by applying acquired knowledge, facts, techniques and rules in a different way.||5||–||2||1||–|
|4||Analysing and Evaluating: Examine and break information into parts by identifying motives or causes. Make inferences and find evidence to support generalizations.|
Present and defend opinions by making judgments about information, validity of ideas, or quality of work based on a set of criteria.
Creating: Compile information together in a different way by combining elements in a new pattern or proposing alternative solutions.
There will be internal choice in questions of 3 marks, 4 marks, 6 marks and 8 marks. All questions carrying 8 marks will have an internal choice.
Note: The Board has introduced Learning Outcomes in the syllabus to motivate students to constantly explore all levels of learning. However, these are only indicative. These do not in any way restrict the scope of questions asked in the examinations. The examination questions will be strictly based on the prescribed question paper design and syllabus.
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