ISC Class 12 Accounts Syllabus 2024-25: Download Class 12th Accounts Syllabus PDF

Section A

Unit 1: Partnership Accounts

A. Fundamentals of Partnership- Definition, meaning and features of a Partnership, Provisions of The Indian Partnership Act, 1932, with respect to books of accounts, Preparation of Profit and Loss Appropriation Account and Partners’ Capital and Current Accounts

B. Goodwill- Meaning, nature and features of Goodwill, Meaning, nature and features of Goodwill, Mode of Valuation (Average profit method, Super profit method, Capitalization method)

C. Reconstitution of Partnership

• Admission- Calculation of new profit-sharing ratio, sacrificing ratio and gaining ratio, Accounting treatment of goodwill on admission of a partner, Preparation of Revaluation Account, Accounting treatment of accumulated profits and losses, Adjustment of Capitals, Change in Profit-Sharing Ratio
• Retirement and death of a partner- Calculation of new profit-sharing ratio, gaining ratio and sacrificing ratio, Adjustment with regard to goodwill including hidden goodwill, Adjustment with regard to undistributed profits and losses, Adjustment with regard to share of profits of the retiring or deceased partner from the date of the last Balance Sheet to the date of retirement or death, Preparation of Revaluation Account on retirement or death of a partner, Adjustment of capitals, Calculation and payment of amount due to retiring partner, Preparation of retiring partner’s loan accounts and deceased partner’s executor’s loan account, Change in Profit-Sharing Ratio
• Dissolution of a Partnership firm- Meaning of dissolution and settlement of accounts under Section 48 of The Indian Partnership Act 1932, Preparation of Memorandum Balance Sheet, Realization Account, Partner’s Loan Account, Partner’s Capital Account and Cash/Bank Account

Unit 2: Joint Stock Company Accounts

A. Issue of Shares- Issue of shares at par and premium under Companies Act, 2013, Issue of shares for considerations other than cash, Calls in arrears, calls in advance and interest thereon, Over and undersubscription (including pro-rata allotment), Preparation of Journal; Cash Book and Journal Proper; Ledger Accounts

B. Issue of Debentures- Issue of debentures at par, at premium and at discount under Companies Act 2013, Issue of debentures as collateral security for a loan, Issue of debentures for considerations other than cash, Accounting entries at the time of issue when debentures are redeemable at par and premium, Calls in arrears, calls in advance and interest thereon, Interest on debentures, Disclosure of Debentures in the company’s Balance Sheet

C. Redemption of Debentures- Creation of Debenture Redemption Reserve (wherever applicable), Redemption of debentures out of profits, Redemption of debentures out of capital, Redemption of debentures in a lump sum, Redemption of debentures in annual instalments by draw of lots

D. Final Accounts of Companies- Preparation of the Balance Sheet of a company (along with notes to accounts) as per Schedule III Part I of Companies Act 2013.

Section B

Unit 3: Financial Statement Analysis- Comparative Statements and Common Size Statements, Meaning, significance and limitations of Comparative Statements and Common Size Statements, Preparation of Comparative Balance Sheet and Statement of Profit and Loss (inter-firm and intra firm) showing absolute change and percentage change, Common size Balance Sheet to be prepared as a percentage of total assets and total liabilities, Common size Statement of Profit and Loss to be prepared as a percentage of Revenue from operations

Unit 4: Cash Flow Statement (Only for Manufacturing Companies- Meaning, importance and preparation of a Cash Flow Statement, Calculation of net cash flows from operating activities based on Indirect Method only, Preparation of Cash Flow Statement on basis of operating, investing and financing activities

Unit 5: Ratio Analysis

A. Liquidity Ratios: Current Ratio, Quick Ratio / Liquid Ratio / Acid Test Ratio

B. Solvency Ratios: Debt to Equity Ratio, Proprietary Ratio, Debt to Total Assets Ratio, Interest coverage ratio

C. Activity Ratios: Trade Receivables Turnover Ratio, Trade Payables Turnover Ratio, Working Capital Turnover Ratio, Inventory Turnover Ratio

D. Profitability Ratios: Gross Profit Ratio, Net Profit Ratio, Operating Ratio, Operating Profit Ratio, Earning per share, Price Earning Ratio, Return on Investment

Section C

Unit 6: Accounting Application of Electronic Spread Sheet-  Concept of Electronic Spreadsheet, Features offered by Electronic Spreadsheet, Application of spreadsheets in generating the following accounting information, Data Presentation

Unit 7: Database Management System (DBMS)- Concept and Features of DBMS, Types and features of DBMS, DBMS in Business Application, Database design, tables, fields, relationships, forms reports and indexing, 

Download ISC Class 12 Accounts Syllabus 2024-2025 PDF

S.NO

Unit

Total Weightage

                                                          SECTION A: 60 Marks

1

Partnership Accounts

A. Fundamentals of Partnership

11 marks

B. Goodwill

15 marks

C. Reconstitution of Partnership

I. Admission

II. Retirement and Death of a Partner

III. Dissolution of a Partnership Firm

8 marks

2. 

Joint Stock Company Accounts

A. Issue of Shares

11 marks

B. Issue of Debentures

8 marks

C. Redemption of Debentures

D. Final Accounts of Companies

7 marks

                                  Section B (MANAGEMENT ACCOUNTING): 20 Marks

3

Financial Statement Analysis

4 marks

4

Cash Flow Statement

8 marks

5

Ratio Analysis

8 marks

                                                                            OR 

                                   SECTION C (COMPUTERISED ACCOUNTING): 20 Marks

6

Accounting Application of Electronic Spread Sheet

10 Marks

7

Database Management System (DBMS)

10 Marks

Total

80 Marks

Project Work 

20 Marks

Overall format

1 mark

Content

4 marks

Findings

2 marks

Viva-voce based on the Project only

3 marks