CBSE Class 12 Accountancy Syllabus 2023-24

Accountancy as a mandatory subject of class 12th Commerce is one of the most important subjects and CBSE has released the syllabus of Class 12 Accountancy 2022-23. Some major changes are made in the syllabus, so students should prepare for exams accordingly. You can find the syllabus below.

VidyaSetu Online Classes will help you study the CBSE Class 12th 2022-23 Accountancy Syllabus. Our teachers will help you understand the topics easily and guide you through the Accounts New Syllabus for Class 12. Join free VidyaSetu Online Classes for all subjects.

TABLE OF CONTENT –

Class 12 Accountancy Syllabus 2022-23

Download Class 12 Accountancy Syllabus 2022-23

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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.

Notes:

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

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 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 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 the 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.

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 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.

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 (Indirect Method only)

Note:

• Adjustments relating to depreciation and amortization, profit or loss on the sale of assets including investments, dividend (both final and interim), and tax.
• 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.

Part C: Project Work

For the 2022-23 session, students will be required to make only one CBSE Class 12 Accountancy Project. Students must refer to the CBSE guidelines for more details.

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 the 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 the installation of CAS, codification, and Hierarchy of account heads, and 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

Students must refer to the CBSE guidelines for more details on Practical work.

Class 12 Accountancy Marking Scheme & Exam Pattern

Before starting your exam preparation, students must also check the marking scheme and exam pattern of the Accountancy paper.

The Accountancy exam is divided into two parts:

1. Written exam
2. Project/Practical

The written exam is 80 marks while the project/practical exam is 20 marks.

CBSE has given a complete marking structure which you can see in the Class 12 Accountancy Guide.

Class 12 Accountancy Useful Resources

Students can download other study material along with the Class 12 Accountancy Syllabus 2022-23 from VidyaSetu.

Prescribed Books for Class 12 Accountancy:

• Class XII NCERT Publication Accountancy -I
• Class XII NCERT Publication Accountancy -II
• Computerised Accounting System Class XII NCERT Publication Accountancy

Students can download Class 12 NCERT Books for Accountancy from VidyaSetu. For exam preparation, students must also check Class 12 Accountancy NCERT Solutions. After completing the Accounts New Syllabus for Class 12, students should practice the CBSE Class 12 Accountancy Sample Papers and previous year’s question papers.

Preparation Tips for the Class 12 Accountancy Exam 2022-23?

After knowing the complete Class 12 Accountancy Syllabus 2022-23 changes you can find restart your exam preparation.

Take online classes for all topics from expert teachers. You can check the Vidyasetu free online classes for Accountancy. Our classes are pre-recorded and always accessible easily so you can study at your convenience. We can help you prepare Class 12 Accountancy Notes and understand Accountancy solutions. With our regular mock tests, you can evaluate your preparation. Our doubt-solving classes will help you understand tough topics without any stress. Vidyasetu has proved its efficiency every year in CBSE class 12 results. Vidya Setu also provides another subject syllabus like the class 12 Economics syllabus.

With VidyaSetu classes, you can understand the CBSE question paper pattern and know what to expect in the exam this year. As per the teachers and CBSE class 12 Toppers, the difficult topics that mostly come in the accountancy exam won’t be there, but CBSE can definitely twist the easy parts of the syllabus in the questions. So our teachers will help you be prepared with a strong conceptual building. You can also find the CBSE class 12 syllabus for other subjects and class 12 Sample Papers for practice as well.

Even though CBSE has the Class 12 Accountancy Syllabus 2022-23, students who really like this subject can study the complete course. It will help you in further studies and exams like CA, CS, etc.

Class 12 Syllabus of Other Commerce Subjects

Students looking for a Syllabus of other Commerce Subjects don’t need to look any further. Click the links below to see the syllabus.

Don’t forget to check out the complete syllabus-the syllabus. Mark the topics in your books accordingly before preparing. Maths is also a practical subject as Accountancy, students must practice the CBSE class 12 maths sample papers as well.

Conclusion

Quantity-wise not many changes have been made in the Class 12 Accountancy Syllabus, but CBSE has removed a major portion of topics that troubled students in the exams. Not to forget the small notes and instructions that CBSE has added to the syllabus will make things a lot easier for students. Students can see the complete syllabus changes here. VidyaSetu classes can help students prepare according to the new syllabus.

Frequently Asked Questions

Q1. What are the changes in the syllabus of Class 12 Accountancy?

Ans. No, CBSE has not reduced the syllabus. You can see the Accounts Syllabus of Class 12 above.

Q2. What is the change in the Accountancy Project syllabus?

Ans. Instead of 2-3 projects, this year students have to do only a single project. The project topic will be given by your school teachers.