Class 12th Accounts Syllabus 2021-22 CBSE Board

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Accountancy is the very important subject of Commerce Stream Class 12 CBSE Board. In order to score good marks in board exams, we need to prepare keeping in mind the syllabus and weightage marks of each chapter.

As the new session has began, I am sharing class 12th accounts syllabus for 2021-22 session of CBSE Board.

See, Accounts paper consists of two parts A and B.

Is there any change in syllabus of Accountnacy class 12 CBSE 2021-22?

For 2021-22 session, as such there is no change in syllabus for the time being. If there is any change I would update in this post.

Class 12th Accounts Syllabus 2021-22 CBSE Board

Each parts consist of few chapter with different weightage on the basis of number of units.

I have discussed full proof strategy to secure 100 marks in Accounts paper in below post.

Read Here:- How to secure 100% marks in Accountancy Paper

Lets first have a glimpse over the complete syllabus of Accountancy class 12 for 2021-22 session of CBSE Board.

I have made complete review of the syllabus in video format. However if you want to read it in text format go head and skip the it.

Theory: 80 Marks
Project: 20 Marks

If You want to watch it into video format here it is.

How many questions are there in Accountancy Paper Class 12 CBSE Board?

There are total 32 Question in Accountancy Paper. There are divided as follows.

Accountancy Paper is divided into two Parts.

1. Part – A Consists of 22 Questions
2. Part – B Consists of 10 Questions

If we talk about marking scheme of per questions. There are 1,3,4,6,8 marks questions in accountancy board exams.

Here is summary of number of question on the basis of marks distribution

Part – A

As we discussed there are total 22 questions. There 22 questions are divided as

• 1st to 13th questions are 1 mark each
• 14th question is of 3 mark
• 15th – 18th question are 4 mark each
• 19th – 20th question are 6 mark each
• 21st – 22th question are 8 mark each

Part – B

• 23rd to 29th question of 1 mark each
• 30th question is of 3 mark
• 31st question is of 4 mark
• 32th question is of 6 mark

Below is the summary of the accountancy syllabus chapter and topic wise.

Note:- You can also download whole syllabus in PDF. Link is given at the end of post.

Chapter Wise Question with Marking Scheme in Accountancy Board Theory Examination 2021-22

Note:- This is the most probable Pattern with my Experience, It may be changed.

Accountancy Syllabus class 12 CBSE 2021-22

Part A:

Unit – 1 – Accounting for Not-for-Profit Organizations, Partnership Firms and Companies

• 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.

Scope:-

• 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- a 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:– 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 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.

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Unit-3 Accounting for Companies

Units/Topics

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, 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

Units/Topics

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

Units/Topics

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

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.

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.

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Suggested Question Paper Design

Further Reading:-

Class 12th Economics Syllabus 2021-22 CBSE Board

Class 12th Business Studies Syllabus 2021-22 CBSE Board

Download PDF from the below link

Accountancy Paper Syllabus class 12th CBSE Board