(Updated) Term Wise 12th Accountancy 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.

I am sharing the Term Wise revised class 12th accountancy syllabus for the 2021-22 session of the CBSE Board.

As the new session has already begun. In July, CBSE Board announced that the board examination would be conducted in two terms.

Ist Term examination would be held in November -December. Second term would be conducted in March April.

On 24th July, today CBSE has released the revised syllabus of Accountancy. We are going to discuss everything in detail.

1st Term examination consists of MCQs Type of 90 Minutes time.

2nd Term examination is a comprehensive one of 1.5 hr.

Let’s discuss all facts regarding the revised term-wise accountancy syllabus in detail.

Revised Term Wise syllabus of Accountnacy class 12 CBSE 2021-22?

For the 2021-22 session, there is a 30% reduction in the syllabus. This 30% has been deducted in certain chapters only.

Class 12th Revised Accounts Syllabus 2021-22 CBSE Board

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

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

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

1st Term revised syllabus of Accountancy for 2021-22 CBSE Board

Theory: 40 Marks
Project: 10 Marks

Duration:- 90 Minutes

PARTSUnitsMarks
PART – AACCOUNTING FOR PARTNERSHIP FIRMS:
1 FUNDAMENTAL
2 CHANGE IN PROFIT SHARING RATIO
3 ADMISSION OF A PARTNER
18
COMPANY ACCOUNTS:
1 ACCOUNTING FOR SHARES
12
PART – BANALYSIS OF FINANCIAL STATEMENTS:
FINANCIAL STATEMENTS OF A COMPANY

(i) Statement of Profit and Loss and Balance Sheet in
prescribed form with major headings and sub
headings (as per Schedule III to the Companies Act,
2013)
(ii) Tools of Analysis – Ratio Analysis
ACCOUNTING RATIOS
10
OR
COMPUTERISED ACCOUNTING
1 OVERVIEW OF COMPUTERISED ACCOUNTING SYSTEM
2 ACCOUNTING APPLICATION OF ELECTRONIC SPREADSHEET
10
Total40
Project Work (Part -1): 10 Marks

Read Here:- Term-wise class 12 Economics Syllabus CBSE Board 2021-22

Read Here:- Deleted Syllabus of Class 12 Economics CBSE Board 2021-22 (comparison with previous year syllabus with screenshots)

Read Here:- Chapter-wise deleted syllabus of Accountancy class 12 CBSE Board 2021-22

Part A:

Unit 2: Accounting for Partnership Firms

  • Partnership: features, Partnership Deed.
  • Provisions of the Indian Partnership Act 1932in the absence of partnership deed.
  • Fixed v/s fluctuating capital accounts. Preparation of Profit and Loss Appropriationaccount- division of
  • profit among partners, guarantee of profits.
  • Past adjustments (relating to interest on capital, interest on drawing, salary and profitsharing ratio).
  • Goodwill: nature, factors affecting and methods of valuation – average profit, superprofit and capitalization.

Note: Interest on partner’s loan is to be treated as a charge against profits.

Goodwill to be adjusted through partner’s capital/current account.

Note: Raising and writing off goodwill is excluded.

Accounting for Partnership firms – Reconstitution

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, treatment for revaluation of assets and reassessment of liabilities, treatment of reserves, and accumulated profits.

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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 premium, calls in advance and arrears (excluding interest), issue of shares for consideration other than cash.
  • Concept of Private Placement and EmployeeStock Option Plan (ESOP).
  • Accounting treatment of forfeiture and re-issue of shares.
  • Disclosure of share capital in the Balance Sheet of a company.

Part – B

Unit: 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.

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.

OR

Part B: Computerised Accounting

Unit: 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.

Read Here:- TS Grewal Solutions class 12 Accountancy 2021-22

2nd Term syllabus of Accountancy for 2021-22 CBSE Board

Theory: 40 Marks
Project: 10 Marks

Duration:- 2 Hour

Units/Topics

PartsUnitMarks
Part A1. ACCOUNTING FOR NOT-FOR PROFIT ORGANISATIONS

ACCOUNTING FOR PARTNERSHIP FIRMS:
3. RETIREMENT AND DEATH OF A PARTNER
4. DISSOLUTION OF PARTNERSHIP FIRMS

COMPANY ACCOUNTS:
1. ACCOUNTING FOR DEBENTURES
10

12



8
PART BANALYSIS OF FINANCIAL STATEMENTS:
1 FINANCIAL STATEMENT OF A COMPANY
(i) COMPARATIVE AND COMMON SIZE STATEMENTS

2 CASH FLOW STATEMENT
10



or
Part CCOMPUTERISED ACCOUNTING

1 USING COMPUTERISED ACCOUNTING SYSTEM
2 DATABASE MANAGEMENT SYSTEM
10

Total40
PROJECT (PART – 2): 10 MARKS

Read Here:- Term-wise syllabus of BST class 12 CBSE 2021-22

Read Here:- Deleted Syllabus of BST class 12 CBSE 2021-22 (comparison with previous year syllabus with screenshots)

Part – A:

Unit: Accounting for Not – For Profit Organisations

Units/Topics

  • 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:

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

(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

Unit: Accounting for Partnership Firms

Accounting for Partnership firms – Reconstitution and Dissolution.

Retirement and death of a partner:– effect of retirement/death of a partner on change in
profit sharing ratio, treatment of goodwill, 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: 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) If the realized value of an asset is not given, it is to be presumed that it has not realized any amount.

(ii) If a partner has borne and/ or paid the realization expenses, it should be stated.

Unit – Accounting for Companies

Units/Topics

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 securityconcept, 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/ Capital Reserve/Statement of Profit and Loss as Financial Cost (AS16) in that order.

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

The concept of Tax Deducted at Source (TDS) is excluded.

Part – B:

Unit : Analysis of Financial Statements

Units/Topics

Financial statements of a Company:

  • Tools for Financial Statement Analysis:
  • Comparative statements, common size statements.

Unit:- Cash Flow Statement

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

Note:

  • Adjustments relating to depreciation and amortization, profit or loss on 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 are to be taken as Marketable securities unless otherwise specified.

Part – B (Computerised Accounting)

Unit: Computerised Accounting

  • 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.

Deleted Syllabus of Accountancy class 12th 2021-22 CBSE Board

Admission of Partner

  • Adjustment of capital accounts and preparation of balance sheet.

Retirement/Death of Partner

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

Debenture

  • Redemption of debentures-Methods: Lump sum, draw of lots.
  • Creation of Debenture Redemption Reserve.
  • Investment in Debenture Redemption Investment.

Tools of Financial Statement Analysis

  • Cash Flow Analysis
  • Ratio Analysis

Further Reading:-

Term-wise Deleted syllabus of Accountancy class 12 CBSE Board 2021-22 (comparison with previous year syllabus with screenshots)

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Anurag Pathak
Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his youtube channel and can download the Android & ios app for free lectures.
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