ISC Class 12 Commerce revised syllabus for 2024 examination: Commerce is one of the streams students of senior classes opt for. This stream deals with and explores the domains of marketing, finance, business, and management. CISCE has already released the ISC Class 12 Commerce syllabus on its website, but recently for the academic year 2023-24, there have been certain revisions made to the old syllabus. Now, on June 02, 2023, CISCE has re-published the revised ISC Class 12 Commerce syllabus along with various other subjects of other streams. Check the complete list of revised syllabi at ISC Revised Syllabus 2023-24 For Classes 11 and 12 (All Subjects).
To provide the right and updated guidance to the ISC Class 12 students, we are going to provide the revised Commerce syllabus for their upcoming 2024 ISC board examinations. You can check and download the revised syllabus from here. For your convenience, we have also provided a link to the old and unrevised Commerce Class 12 ISC syllabus. You may check the difference by comparing both these syllabi.
ISC Class 12 Commerce Revised Syllabus 2023-24
There will be two papers in the subject:
Paper I - Theory: 3 hours ……80 marks
Paper II- Project Work ……20 marks
PAPER - I (THEORY) – 80 Marks
1. Business Environment
Concept, and importance of Business Environment.
Meaning, features and importance of Business Environment;
Dimensions of Business Environment – Micro (Internal and External factors) and Macro (Economic, social, technological, political and legal) – meaning and components.
S.W.O.T. Analysis - A basic understanding of S.W.O.T. (Strength, Weakness, Opportunity and Threat) Analysis.
(i) Capital: Sources of finance for sole trader; partnership; Joint Stock Company; financial planning.
Importance of finance for business. Sources of finance for different types of business firms. Meaning, features and importance of financial planning. Factors affecting capital structure. Fixed capital - meaning, factors affecting fixed capital. Working capital – meaning, types; factors affecting working capital. Comparison between fixed and working capital.
(ii) Sources of finance for a Joint Stock Company.
(a) Different types of shares: equity, preference.
Bonus shares, rights issue, ESOP, Sweat Equity Shares, Retained earnings.
Long-term sources of funds.
Equity shares - features, advantages and disadvantages. Preference shares - features, types advantages and disadvantages; distinction between equity shares and preference shares. Bonus and rights issue, ESOP and Sweat Equity Shares - meaning. Distinction between bonus shares and right shares. Retained earnings – meaning, merits and demerits.
(b) Loan capital: debentures.
Debentures – meaning; kinds of debentures; advantages and disadvantages of debentures. Distinction between shares and debentures.
(c) Loans from commercial banks and Financial Institutions.
Loans from commercial banks and Financial Institutions - meaning, advantages and disadvantages.
(d) Short-term sources of funds.
Short-term sources of funds – different types of short-term financial assistance by Commercial Banks; public deposits, trade credit, customer advances, factoring, Inter corporate deposits and installment credit. Meaning, advantages and disadvantages of various sources of funds.
(iii) Banking - latest trends.
Online services- transfer of funds through Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT), Immediate Payment Service (IMPS), issue of demand drafts online meaning and features. Online payments, e-Banking – meaning and features, advantages and disadvantages.
Mobile Banking - SMS alerts, transfer of funds, making payments - advantages and disadvantages.
Debit Cards vs Credit Cards, ATM (Automated Teller Machine) – Meaning; Debit card and credit card: features and differences.
Digital Banking, UPI, E-Wallet (Meaning only).
(i) Management: Meaning, objectives and characteristics of management.
Meaning of Management: as an activity; as a group; as a discipline; as a process. Objectives and characteristics of management.
(ii) Nature of Management – Science, Art and Profession.
(iii)Importance of Management. Levels of management- Meaning and functions.
(iv) Principles of Management: nature of principles; need for principles.
Nature of principles of Management; need for principles of management; Taylor’s 5 scientific principles of Management; Fayol’s 14 principles of Management; Comparison of Taylor's and Fayol’s principles.
(v) Functions of Management: Planning; Organising; Staffing; Directing; Controlling and Coordinating.
Meaning, steps, importance & limitation; Types of plans; Objectives, policy, procedures, method, rule, budget, program and strategy- meaning and features.
Meaning, importance, steps; Structure of organization (functional and divisional; formal and informal organization) – Meaning, features, merits, demerits and differences between functional and divisional, formal and informal; Meaning and importance of delegation of authority; Decentralization v/s Centralization, comparison between delegation and decentralization, merits and demerits.
Meaning, steps and importance; Recruitment – Meaning and sources (meaning only); Selection –Meaning and procedure; Training and development – Meaning, types of training, difference between selection and recruitment, Training and Development.
Meaning and importance; Supervision Meaning, functions and span of control; Motivation - Meaning and Maslow’s theory; Leadership- Meaning and qualities of a good leader; Communication - Meaning, objectives and process. Barriers to communication and overcoming barriers to communication.
Meaning, steps and importance; Relationship between Planning and Controlling; Management by Exception.
Meaning of Coordination; Coordination as an essence of Management.
(i) Marketing: concept and functions.
Meaning and types of markets; meaning and features of marketing. Marketing concepts: traditional v/s modern - meaning and features of traditional and modern concepts of marketing. Comparison between marketing and selling. Objectives and importance of marketing; functions of marketing – meaning, features of each function of marketing.
(ii) Marketing Mix - Meaning and Elements.
Product Mix - goods and services - meaning, features and types of goods; meaning, features of services; difference between product and services. Branding: meaning and merits. Labeling: meaning and merits. Packaging: meaning and features of good packaging.
Price Mix – meaning, factors determining price.
Place Mix – meaning, channel of distribution choice of channels of distribution and physical distribution.
Promotion Mix – Meaning and elements.
Elements – Advertising, sales promotion, personal selling and publicity – meaning, features, objectives and differences.
(iii)Consumer protection: rights of consumers, methods of consumer protection. Need for consumer protection; methods of consumer protection - self-help, legislative measures and consumer associations/NGOs, Consumer Protection Act, 2019 – Meaning of Consumer, Rights and responsibilities of consumers. The Consumer Disputes Redressal Commissions (National, State and District). Difference between Consumer Protection Act, 1986 and Consumer Protection Act, 2019.
To check the old and unrevised Commerce syllabus for ISC Class 12 click on the link below.