NCERT Syllabus for Class 12 Accountancy 2022-2023, Check Details and Download PDF

NCERT Syllabus for Class 12 Accountancy 2022-2023

NCERT Syllabus for Class 12 Accountancy 2022-2023: Marks Distribution

NCERT Syllabus for Class 12 Accountancy 2022-2023: Course Content

Part A: Accounting for Partnership Firms and Companies

Unit 1: 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

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
• Executor’s account and preparation of balance sheet

Dissolution of a 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)

Unit-2 Accounting for Companies
Accounting for Share Capital
Share and share capital −

• Nature
• Types

Accounting for share capital 

• Issue and allotment of equity shares
• Private placement of shares
• Employee Stock Option Plan (ESOP)
• 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

Accounting treatment of forfeiture and re-issue of shares
Disclosure of share capital in company’s Balance Sheet

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

Redemption of debentures −

• Lump sum, draw of lots and purchase in the open market (excluding exinterest and cum-interest)
• Creation of Debenture Redemption Reserve
   

Part B: Financial Statement Analysis

Unit 3: 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 sub headings (as per Schedule III to the Companies Act, 2013)

Financial Statement Analysis −

• Objectives
• Importance
• Limitations

Tools for Financial Statement Analysis −

• Comparative statements
• Common size statements
• Cash flow analysis
• Ratio analysis

Accounting Ratios −

• Objectives
• Classification
• Computation

Liquidity Ratios −

• Current ratio
• Quick ratio

Solvency Ratios −

• Debt to Equity Ratio
• Total Asset to Debt Ratio
• Proprietary Ratio
• 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

Unit 4: Cash Flow Statement

• Meaning
• Objectives
• Preparation (as per AS 3 (Revised) (Indirect Method only)

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 

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