CBSE Class 12th Accountancy Important Topics and Chapters for 2024 Board Exam

CBSE Class 12 Accountancy Board Exam 2024 Important Chapters: CBSE Class 12 Board Exams 2024 are going on and exams for subjects of Commerce stream have begun. According to the schedule released by the board, CBSE Class 12 Accountancy Board Exam 2024 is scheduled for March 23, 2024, from 10:30 AM to 1:00 PM. Since we are a few days away from the exam, students must be looking for good study materials that can boost their preparation for the board exam. To help you all in the process, we have brought to you the list of important chapters and topics for CBSE Class 12 Accountancy Paper 2024. Check which chapters and topics have a high marks weightage in exam and how to approach the preparation process. 

It is important to bring to your attention that the list has been prepared on the basis of the syllabus, course structure, and marking scheme released by the board on their official website. A careful and detailed analysis of the same has gone into preparation of the list of important topics and chapters for you all. We have also taken a hint from the previous year question paper and past trends of the paper. 

List of Important Chapters for Class 12 Accountancy Board Exam 2024

Find Class 12 Accountancy Important chapters for board exam 2024 below. We have considered the marking scheme laid down by the board and brought this list to you all. Check the chapters with a high marks weightage and divert your focus to them. 

Note: The units have been provided to you on the basis of priority. Units that have the highest marks coverage in the paper have been placed at the top whereas the unit with the lowest marks coverage is placed at the bottom. For a perfect score, students should not miss out on any topic or chapter, however, you can dedicate the time to a particular chapter on the basis of marks weightage. 

List of Important Topics for Class 12 Accountancy Board Exam 2024

Check the list of important topics for CBSE Class 12 Accountancy Board Exam 2024 below. Here, we have provided unit-wise important topics that should must be covered by students and practised well before sitting for their final exam. 

Important Topics from Accounting for Partnership Firms

• Accounting for Partnership: Basic Concepts- Feature of partnership, partnership deed, provisions 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: meaning, nature, factors affecting and methods of valuation - average profit, super profit and capitalization. 
• Reconstitution of a Partnership Firm: Admission of a Partner-  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, accumulated profits and losses, Preparation of revaluation account and balance sheet,  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, accumulated profits and losses, adjustment of capital accounts and preparation of capital, current account and balance sheet.

• Reconstitution of a Partnership Firm: Retirment/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, losses and reserves, adjustment of capital accounts and preparation of capital, current account and 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 Partnership Firm-  types of dissolution of a firm, preparation of realization account, and other related accounts: capital accounts of partners and cash/bank a/c  

Important Topics from Accounting for Companies 

• Accounting for Share Capital- Features and types of companies, Share and share capital: nature and types,  issue and allotment of equity and preferences 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, ESOP, Sweat Equity, Accounting treatment of forfeiture and reissue of shares,   Disclosure of share capital in the Balance Sheet of a company

• Issue and Redemption of Debentures- Meaning, types, 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 (concept of TDS is excluded). Writing off discount/loss on issue of debentures

Important Topics from Analysis of Financial Statements

• Financial Statements of a Company- Meaning, Nature, Uses and importance of financial Statement, Statement of Profit and Loss and Balance Sheet in prescribed form with major headings and sub headings

• Analysis of Financial Statements- Meaning, Objectives, importance, limitations, Comparative statements, common size statements, Ratio analysis, Cash flow analysis.  
• Accounting Ratios- Objectives, Advantages, classification and computation, Liquidity Ratios, Solvency Ratios, Activity Ratios, Profitability Ratios

Important Topics from Cash Flow Statement

• Cash Flow Statement- Meaning, objectives Benefits, Cash and Cash Equivalents

Note: The list has provided you with all the important topics. However, we would advise you to kindly cover all the topics before appearing for the exam for a perfect score. 

Important Resources for Preparation of CBSE Class 12 Accountancy Board Exam 2024

Use the attached links to strengthen your preparation for the upcoming CBSE Class 12 Accountancy Board Exam 2024