CBSE 12th Accountancy Syllabus 2021-2 (Term 1): Check & Prepare For Term 1 CBSE Board Exam 2021-22

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CBSE 12th Accountancy Syllabus 2021-2 (Term 1):

TERM -1 (MCQ BASED QUESTION PAPER)

Theory:40 Marks Duration: 90 minutes

Part A

UNIT:

ACCOUNTING FOR PARTNERSHIP FIRMS

1 FUNDAMENTALS

2 CHANGE IN PROFIT SHARING RATIO

3 ADMISSION OF A PARTNER

COMPANY ACCOUNTS:

1 ACCOUNTING FOR SHARES

PART B

ANALYSIS OF FINANCIAL STATEMENTS:

1 FINANCIAL STATEMENTS OF A COMPANY

(i) Statement of Profit and Loss and Balance Sheet in prescribed form with major headings and subheadings (as per Schedule III to the Companies Act, 2013)

(ii) Tools of Analysis - Ratio Analysis

2 ACCOUNTING RATIOS

or

COMPUTERISED ACCOUNTING 

1 OVERVIEW OF COMPUTERISED ACCOUNTING SYSTEM

2 ACCOUNTING APPLICATION OF ELECTRONIC SPREADSHEET

Total 40 Marks

Part - A:

Unit : Accounting for Partnership Firms

Units/Topics

• 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 profit sharing ratio).

• Goodwill: nature, factors affecting and methods of valuation - average profit, superprofit and

capitalization.

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

Goodwill to be adjusted through partners 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.

Unit - 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 BalanceSheet 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 prescribed form with major headings and sub headings (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 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.

For complete details, download CBSE 12th Accountancy Syllabus 2021-2 (Term 1) PDF