CBSE Class 12 Accountancy Syllabus 2020-21 PDF | Download New Syllabus PDF

CBSE Class 12 Accountancy Syllabus

CBSE Class 12 Accountancy Syllabus: If you are aspiring to pursue professional courses like CS or CA in the future, you should clear all the important concepts in Class 11 and Class 12 Accountancy.

With a better grasp of the concepts of the latest syllabus, you can secure good marks. Here we are providing a complete guide on CBSE Class 12 Accountancy Syllabus 2021.

You can easily check the Revised CBSE Class 12 Accountancy syllabus and Download the PDF from the article below.

Revised CBSE Class 12 Accountancy Syllabus 2020-2021

Accountancy is an important subject for CBSE Commerce Stream. You should have a depth concept in the Class 12 Accountancy to score better marks in the CBSE 12th Board exam.

You may know that to provide the students with a syllabus, CBSE updates its CBSE Class 12 Syllabus almost every year. Here you can check the Revised CBSE Class 12 Accountancy Syllabus and NCERT Textbook based on the latest syllabus.

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CBSE Class 12 Accountancy Unit-wise Chapters List

Units 

Chapters

Marks 

Part A 

Accounting for Partnership Firms and Companies 

 
 

Unit 1. Accounting for Partnership Firms 

35 

 

Unit 2. Accounting for Companies 

25

   

60

Part B

Financial Statement Analysis

 
 

Unit 3. Analysis of Financial Statements

12

 

Unit 4. Cash Flow Statement

8

   

20

Part C

Project Work

20

 

OR

 

Part B

Computerized Accounting

 
 

Unit 3. Computerized Accounting

20

Part C

Practical Work

20

Detailed Revised CBSE Class 12 Accountancy Syllabus 2021

Part A: Accounting for Not-for-Profit Organizations, Partnership Firms, and Companies

Unit 1: Financial Statements of Not-for-Profit Organizations

Units/Topics

Learning Outcomes

· Not-for-profit organizations: concept.

After going through this Unit, the students will be

· 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.

Scope:

(i) Adjustments in a question should not exceed 3 or 4 in number and restricted to subscriptions, consumption of consumables, funds, and sale of assets/ old material/funds.

(ii) Entrance/admission fees and general donations are to be treated as revenue receipts.

(iii) Trading Account of incidental activities is not to be prepared.

able to:

· state the meaning of a Not-for-profit organization and its distinction from a profit-making entity.

· state the meaning of receipts and payments account, and understanding its features.

· develop the understanding and skill of preparing receipts and payments accounts.

· state the meaning of income and expenditure account and understand its features.

· develop the understanding and skill of preparing income and expenditure account and balance sheet of a not-for-profit organization with the help of given receipts and payments account and additional information.

Unit 2: Accounting for Partnership Firms

Units/Topics

Learning Outcomes

· 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- a division of profit among partners, a 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 (AS 26)

Accounting for Partnership firms – Reconstitution and Dissolution.

After going through this Unit, the students will be able to:

· state the meaning of partnership, partnership firm, and partnership deed.

· describe the characteristic features of a partnership and the contents of the partnership deed.

· discuss the significance of the provision of the Partnership Act in the absence of a partnership deed.

· differentiate between fixed and fluctuating capital, outline the process and develop the understanding and skill of preparation of Profit and Loss Appropriation Account.

· develop the understanding and skill of preparation profit and loss appropriation account involving guarantee of profits.

· develop the understanding and skill of making past adjustments.

· state the meaning, nature, and factors affecting goodwill

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 re-assessment of liabilities, treatment of reserves and accumulated profits

· 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 and preparation of balance sheet.

· Calculation of deceased partner’s share of profit till the date of death.

· Dissolution of a partnership firm: the 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 memorandum balance sheet, piecemeal distribution, sale to a company, and insolvency of partner(s)).

Note:

(i) The realized value of each asset must be given at the time of dissolution.

(ii) In case, the realization expenses are borne by a partner, a clear indication should be given regarding the payment thereof.

· develop the understanding and skill of valuation of goodwill using different methods.

· state the meaning of sacrificing ratio, gaining ratio, and the change in profit sharing ratio among existing partners.

· develop the understanding of accounting treatment of revaluation assets and reassessment of liabilities and treatment of reserves and accumulated profits by preparing revaluation account and balance sheet.

· explain the effect of change in profit sharing ratio on the admission of a new partner.

· develop the understanding and skill of treatment of goodwill as per AS-26, treatment of revaluation of assets and re-assessment of liabilities, treatment of reserves and accumulated profits, adjustment of capital accounts, and preparation of balance sheet of the new firm.

· explain the effect of retirement/death of a partner on change in profit sharing ratio.

· develop the understanding of accounting treatment of goodwill, revaluation of assets and re-assessment of liabilities, and adjustment of accumulated profits and reserves on the retirement of a partner.

· develop the skill of calculation of deceased partner’s share till the time of his death.

· discuss the preparation of the capital accounts of the remaining partners and the balance sheet of the firm after the retirement/death of a partner.

· understand the situations under which a partnership firm can be dissolved.

· develop the understanding of the preparation of realization account and other related accounts.

Unit – 3 Accounting for Companies

Units/ Topics

Learning Outcomes

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 a premium, call 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 re-issue 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).

Note: Related sections of the Companies Act, 2013 will apply.

After going through this Unit, the students will be able to:

· state the meaning of share and share capital and differentiate between equity shares and preference shares and different types of share capital.

· understand the meaning of private placement of shares and Employee Stock Option Plan.

· explain the accounting treatment of share capital transactions regarding the issue of shares.

· develop the understanding of accounting treatment of forfeiture and re-issue of forfeited shares.

· describe the presentation of share capital in the balance sheet of the company as per schedule III part I of the Companies Act 2013.

· explain the accounting treatment of different categories of transactions related to issuing of debentures.

· develop the understanding and skill of writing of discount/loss on issue of debentures.

· understand the concept of collateral security and its presentation in the balance sheet.

· develop the skill of calculating interest on debentures and their accounting treatment.

· state the meaning of redemption of debentures.

Part B: Financial Statement Analysis

Unit 4: Analysis of Financial Statements

Units/Topics

Learning Outcomes

Financial statements of a Company:

Statement of Profit and Loss and Balance Sheet in the 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.

After going through this Unit, the students will be able to:

· develop the understanding of major headings and sub-headings (as per Schedule III to the Companies Act, 2013) of the balance sheet as per the prescribed norms/formats.

· state the meaning, objectives, and limitations of financial statement analysis.

· discuss the meaning of different tools of ‘financial statements analysis’.

· develop the understanding and skill of preparation of comparative and common-size financial statements.

· state the meaning, objectives, and significance of different types of ratios.

· develop the understanding of computation of current ratio and quick ratio.

· develop the skill of computation of debt-equity ratio, a total asset to debt ratio, proprietary ratio, and interest coverage ratio.

· develop the skill of computation of inventory turnover ratio, trade receivables, and trade payables ratio, and working capital turnover ratio.

· develop the skill of computation of 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

Units/Topics

Learning Outcomes

· Meaning, objectives, and preparation (as per AS 3 (Revised) (Indirect Method only)

After going through this Unit, the students will be able to:

· state the meaning and objectives of cash flow

Note:

(i) Adjustments relating to depreciation and amortization, profit or loss on the 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.

(iii) Current Investments to be taken as Marketable securities unless otherwise specified.

statement.

· develop the understanding of the preparation of Cash Flow Statement using the indirect method as per AS 3 with given adjustments.

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.

Project Work

From session 2020-21 onwards, there would be only ONE project (specific) to be prepared. Note: Kindly refer to the related Guidelines published by the CBSE.

OR

Part B: Computerised Accounting

Unit 3: Computerised Accounting

Overview of Computerised Accounting System

  • Introduction: Application in Accounting.
  • Features of Computerised Accounting
  • Structure of
  • Software Packages: Generic; Specific;

Accounting Application of Electronic Spreadsheet.

  • Concept of electronic
  • Features offered by electronic
  • Application in generating accounting information – bank reconciliation statement; asset accounting; loan repayment of loan schedule, ratio analysis
  • Data representation- graphs, charts and

Using Computerized Accounting System.

  • Steps in the installation of CAS, codification, and Hierarchy of account heads, creation of
  • Data: Entry, validation and
  • Adjusting entries, preparation of balance sheet, profit, and loss account with closing entries and opening
  • Need and security features of the

Database Management System (DBMS)

  • Concept and Features of DBMS.
  • DBMS in Business Application.
  • Generating Accounting Information –

Click the below link to download the latest Revised Syllabus

Download Class 12 Accountancy Syllabus 2021(Reduced 30%) 

Important Links Related to CBSE Class 12 Accountancy Syllabus

Here you can check links to various study materials related to the 12th Accountancy</3>

Deleted CBSE Class 12 Accountancy Syllabus 2021

Here you can check and download the deleted CBSE Class 12 Accountancy Syllabus.

Part A: Accounting for Not-for-Profit Organizations, Partnership Firms, and Companies

Unit 2: Accounting for Partnership Firms

Accounting for Partnership firms – Reconstitution and Dissolution.

  • Admission of a partner – adjustment of capital accounts and preparation of balance sheet.
  • Retirement and death of a partner: adjustment of capital accounts. Preparation of loan account of the retiring
  • Preparation of deceased partner’s capital account and his executor’s

Unit – 3 Accounting for Companies

Accounting for Debentures

  • Redemption of debentures-Methods: Lump sum, the draw of

Project Work:

From session 2020-21 onwards, there would be only ONE project (specific) to be prepared.

Note: Kindly refer to the related Guidelines published by the CBSE.

Deleted Class 12 Accountancy Syllabus 2021

Must-Know: CBSE New Exam Pattern for Class 12 Accountancy

  • Theoretical Paper: 80 marks
  • Practical/ Project Work: 20 Marks

CBSE Class 12 Accountancy Question Paper Structure:

Time Duration

3 Hours

Maximum Marks

80 marks

Total No. of Questions

32

Type of Questions

MCQ Type Questions – 1 mark

Short Answer I – 3 marks

Short Answer II – 4 marks

Long Answer I – 6 marks

Long Answer II – 8 marks

Download CBSE NCERT Textbook For Class 12 Accountancy 2021 PDF

Here you can download Chapter-wise NCERT Textbook for Class 12 Accountancy for Hindi and English Medium. textbooks are prepared by a panel of experts with detailed research on the subject. NCERT Textbooks are simple and Easier to understand the concepts in a different way.

Download Chapter-Wise Class 12 NCERT Textbooks PDF for Accountancy For English Medium

NCERT Accounting subject is divided into two parts. Part I is based on basic concepts like Partnership, Contract, or Organisational Dissolution, etc. On the other hand, Part II has topics like Share Capital, Debentures, and Cash Flow Statement, etc.

Here we are providing the chapter-wise NCERT Accountancy Textbooks based on the latest CBSE Class 12 syllabus PDF. You can read it online or download it easily.

Chapter-wise NCERT Accountancy Book Part 1 for Class 12 in English

Chapter-wise NCERT Accountancy Book Part 2 for Class 12 in English

Download Chapter-Wise Class 12 NCERT Textbooks PDF for Accountancy For Hindi Medium

Here we are providing the chapter-wise NCERT Accountancy Textbooks based on latest CBSE Class 12 Syllabus PDF. You can read it online or download it easily.

Chapter-wise NCERT Accountancy Book Part 1 for Class 12 in Hindi

Chapter-wise NCERT Accountancy Book Part 2 for Class 12 in Hindi

Highly Important Links Related To CBSE Class 12 2021

CBSE NCERT Class 12 Book For All Subjects. NCERT Solutions For Class 12
CBSE 12th Sample Papers 2021 Class 12th Previous Year Papers 2021
CBSE Class 12 Marking Scheme 2021 CBSE 12th Grading System 2021
CBSE 12th Study Plan To Score High CBSE 12th Date Sheet 2021
CBSE 12th Admit Card 2021 CBSE 12th Practical Exam 2021
CBSE 12th Result 2021

We have covered the detailed guide on CBSE Class 12 Accountancy Syllabus 2021. Feel free to ask any questions related to CBSE Class 12 Accountancy in the comment section below.

 

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