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SUBHASH THAKUR, M.B.A,M.Com, B.Com (Hons) has over 18 years of experience in
responsible roles such as Head of Accounts, Head of Year Faculty Members in a variety of Institutions. The benefits of
intensive interaction between teacher and pupil became clear to him early on in his career because of the many requests
he received from parents to give private tuition.
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CLASS XII
One Paper 3 Hours 80 Marks
Unit Periods Marks
Part A : Accounting for Partnership Firms and Companies
1. Accounting for Partnership Firms - Fundamentals 20 10 Marks
2. Accounting for Partnership Firms - Reconstitution and Dissolution 52 25 Marks
3. Accounting for Share Capital 38 18 Marks
4. Accounting for Debentures 14 7 Marks
124 60 Marks
Part B: Financial Statement Analysis
5. Analysis of Financial Statements 24 12 Marks
6. Cash Flow Statement 20 8 Marks
7. Project Work 42 Marks 20 Marks
Unit 1 : Project File 4 marks
Unit 2 : Written Test 12 marks (one hour)
Unit 3 : Viva Voce' 4 marks
CLASS XII
PART A: Accounting for Partnership Firms and Companies
Unit 1. Accounting for Partnership firms - Fundamentals
• Partnership : features, Partnership deed.
• Provisions of the Indian Partnership Act 1932 in the absence of partnership deed.
• Fixed v/s fluctuating capital accounts, division of profit among partners, guarantee of profits,
past adjustments (relating to interest on capital, interest on drawing, salary and profit sharing
ratio), preparation of P&L Appropriation account.
• Goodwill: nature, factors affecting and methods of valuation - average profit, super profit,
and capitalization
Unit 2. 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 re-assessment of liabilities and distribution
of reserves and accumulated profits.
• 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, 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, treatment for revaluation of assets and re assessment of liabilities, adjustment of accumulated profits and reserves. 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 partnership firms: types of dissolution of firm. Settlement of accounts preparation of realization account, and other related accounts (excluding piecemeal
distribution, sale to a company and insolvency of partner's firm) .
Unit 3. Accounting for share Capital
• Share and share capital : nature and types
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• Accounting for share capital: issue and allotment of equity shares, private placement of
shares, Public subscription of shares - over subscription and under subscription of shares;
Issue at par and at premium and at discount, calls in advance and arrears, 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 only.215
Unit 4. Accounting for Debentures
• Debentures: Issue of debentures at par, `at premium and at discount. Issue of debentures
for consideration other than cash, debentures as collateral security, interest on debentures
• Redemption of debentures : Lump sum, draw of lots and conversion.
PART B: Financial Statement Analysis
Unit5. Analysis of financial Statements
• Financial statements of a company: balance sheet of a company in the prescribed form
with major headings and sub headings (as per schedule VI to the Companies Act 1956).
• Financial Statement Analysis: objectives and limitations.
• Tools for Financial Statement Analysis: comparative statements, common size statements,
cash flow analysis, ratio analysis.
• Accounting Ratios: objectives and classification.
• Liquidity ratios: current ratio and quick ratio.
• Solvency Ratios: Debt to Equity Ratio, Total Asset to Debt Ratio, Proprietary Ratio,
Interest Coverage Ratio.
• Activity ratios: Stock Turnover Ratio, Debtors Turnover Ratio, Creditors Turnover Ratio,
Working Capital Turnover Ratio.
• Profitability Ratios : Gross Profit Ratio, Operating Ratio, Operating Profit Ratio, Net
Profit Ratio and Return on Investment.
Unit 6. Cash Flow Statement
• Meaning, objectives and preparation (as per AS 3 revised) (Indirect Method)
Unit7. Project work
• Kindly refer to the Guidelines published by the CBSE.
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CLASS XI
One Paper 3 Hours 100 Marks
Units Periods Marks
Part A : Financial Accounting-I
1. Introduction to Accounting 10 5
2. Theory Base of Accounting 14 7
3. Recording of Transactions 18 9
4. Preparation of Ledger, Trial Balance and Bank
Reconciliation Statement. 18 9
5. Depreciation, Provision and Reserves 16 8
6. Accounting for Bills of Exchange 16 8
7. Rectification of Errors 14 7
8. Financial statements of sole proprietorship 24 12
130 65
10. Accounts from incomplete records 14 5
11. Computers in Accounting 22 10
12. Project Work 22 10
80 35
CLASS XI
Part A: Financial Accounting - I (Periods 120)
Unit 1: Introduction to Accounting (Periods 10)
ã Accounting- objectives, advantages and limitations, types of accounting information; users
of accounting information and their needs.
Basic accounting terms: business transaction, account, capital, drawings, liability (internal
& external, long term & short term) asset ( tangible & intangible, fixed, current, liquid and
fictitious) receipts (capital & revenue), expenditure (capital, revenue & deferred), expense,
income, profits, gains and losses, purchases, sales, stock, debtors, bills receivable,
creditors, bills payable, goods, cost, vouchers, discount - trade and cash.
Unit 2: Theory Base of Accounting (Periods 14)
ã Fundamental accounting assumptions: going concern, consistency, and accrual.
ã Accounting principles: accounting entity, money measurement, accounting period, full
disclosure, materiality, prudence, cost concept, matching concept and dual aspect.
ã Double entry system.
ã Basis of accounting - cash basis and accrual basis.
ã Accounting standards: concept & objective. IFRS (International Financial Reporting
Standards).219
Unit 3: Recording of Transactions (Periods 18)
ã Accounting equation: analysis of transactions using accounting equation.
ã Rules of debit and credit: for assets, liabilities, capital, revenue and expenses.
ã Origin of transactions- source documents (invoice, cash memo, pay in slip, cheque),
preparation of vouchers - cash (debit & credit) and non cash (transfer).
ã Books of original entry: format and recording - Journal.
ã Cash book: simple, cash book with bank column, petty cash book,
ã Other books: purchases book, sales book, purchases returns book, sales returns book,
bills receivable book, bills payable book and journal proper.
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Unit 4: Preparation of Ledger, Trial Balance and Bank Reconciliation
Statement (Periods 18)
ã Ledger - format, posting from journal, cash book and other special purpose books, balancing
of accounts.
ã Trial balance: objectives and preparation
ã Bank reconciliation statement: need and preparation. Corrected cash book balance.
Unit 5: Depreciation, Provisions and Reserves (Periods 16)
ã Depreciation: concept, need and factors affecting depreciation; methods of computation
of depreciation: straight line method, written down value method (excluding change in
method)
ã Accounting treatment of depreciation: by charging to asset account, by creating provision
for depreciation/ accumulated depreciation account, treatment of disposal of asset.
ã Provisions and reserves: concept, objectives and difference between provisions and
reserves; types of reserves- revenue reserve, capital reserve, general reserve, specific
reserves and secret reserves.
Unit 6: Accounting for Bills of Exchange (Periods 16)
ã Bills of exchange and promissory note: definition, features, parties, specimen and distinction.
ã Important terms : term of bill ,due date, days of grace, date of maturity, bill at sight, bill
after date, discounting of bill, endorsement of bill, bill sent for collection, dishonor of bill,
noting of bill , retirement and renewal of a bill, insolvency of acceptor.
ã Accounting treatment of bill transactions220
Unit 7: Rectification of Errors (Periods 14)
ã Errors: types-errors of omission, commission, principles, and compensating; Their effect
on Trial Balance.
ã Detection and rectification of errors; preparation of suspense account.
Unit 8: Financial Statements of Sole proprietorship (Periods 24)
ã Financial Statements: objective and importance.
ã Trading and profit and loss account: gross profit, operating profit and net profit.
ã Balance Sheet: need, grouping, marshalling of assets and liabilities.
ã Adjustments in preparation of financial statements : with respect to closing stock, outstanding
expenses, prepaid expenses, accrued income, income received in advance, depreciation,
bad debts, provision for doubtful debts, provision for discount on debtors, manager's
commission, abnormal loss, goods taken for personal use and goods distributed as free
sample .
ã Preparation of Trading and Profit and Loss Account and Balance Sheet of sole
proprietorship.
Part B: Financial Accounting-II
Unit 10: Accounts from Incomplete Records (Periods 14)
ã Incomplete records: use and limitations.
ã Ascertainment of profit/loss by statement of affairs method.
Unit 11: Computers in Accounting (Periods 22)
ã Introduction to Computer and Accounting Information system {AIS}
ã Application of computers in Accounting: automation of accounting process, designing
accounting reports, MIS reporting, data exchange with other information systems.
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ã Comparison of accounting process in manual and computerized accounting highlighting
advantages and limitations of automation.sourcing of accounting system: Readymade,
customized and tailormade accounting system. Advantages and disadvantages of each
option.221
ã Accounting and database system
o Accounting and database Management system.
o Concept of entity and relationship: entities and relationships in an Accounting system:
designing and creating simple tables, forms, and reports in the context of accounting
system.
Unit 12: Project Work (Any One) (Periods 22)
1. Collection of Source Documents, Preparation of Vouchers, Recording of Transactions
with the help of vouchers.
2. Preparation of Bank Reconciliation Statement with the help of given Cash book and Pass
book.
3. Project Work on any Windows based Accounting package: Installing & starting the
package, setting up a new Company, Setting up account heads, voucher entry, viewing
and editing data.
Accountancy Made Easy With Subhash Thakur A Leading Authority in Accountancy
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