Class 12 2023-24 Commerce syllabus ISC: The two exams that Council for the Indian School Certificate Examinations (CISCE) conducts each year are ICSE and ISC. ISC exams are for students in grades 11 and 12. ICSE exams cover till 10th grade. Classes 11 and 12 are the senior ones, therefore after passing the ICSE 10th exam, students are required to take their studies more seriously. The score of class 12 will play an essential role in further college admission processes. English is compulsory for ISC Class 11 students. All other subjects are electives. In consideration of this, students are free to choose any of the subjects that interest them based on their future goals. The ISC Class 11 Commerce curriculum 2023–24 will be covered in this post. 857 is the subject code for ISC Commerce. Its curriculum is segregated into Paper I and Paper II. Paper II is practical; Paper I is for theory. Read more to know the Commerce syllabus for class 12 ISC.
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ISC Commerce Syllabus Highlights
According to CISCE, the Commerce syllabus aims;
- To develop an interest in the theory and practice of business, trade and industry.
- To familiarise candidates with theoretical foundations, organising, managing and handling operations of a business firm.
- To provide a study of the more important aspects of the commercial world.
- To provide knowledge of the activities of commerce in the marketing of goods and services.
ISC Class 12 Commerce Syllabus Pointers
As per the CISCE guidelines, there will be two papers in the subject:
Paper I - Theory: 3 hours ……80 marks
Paper II- Project Work ……20 mark
Paper I will have two parts, Part I and Part II.
| PAPER - I (THEORY) – 80 Marks | |
| Part I (20 marks) will consist of compulsory short answer questions testing knowledge, application and skills relating to elementary/ fundamental aspects of the entire syllabus. | Part II (60 marks) will consist of eight questions out of which candidates will be required to answer five questions, each carrying 12 marks. |
ISC Class 12 Commerce Syllabus 2023-24
| 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. |
| 2. Financing |
| (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. |
| 3. Management |
| (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. Self explanatory. (iii)Importance of Management. Self explanatory. (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; Relevance of the principles of Management in today’s business scenario. Comparison of Taylor's and Fayol’s principles. (v) Functions of Management: Planning; Organising; Staffing; Directing; Controlling and Coordinating. (a) Planning: Meaning, steps, importance & limitation; Types of plans; Objectives, policy, procedures, method, role, budget, program – meaning, features and differences. (b) Organising: Meaning, importance, steps; Structure of organization (line, line and staff, functional and divisional; Formal and informal organization) – Meaning, features, merits, demerits and differences between line and line & staff, 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. (c) Staffing: Meaning, steps and importance; Recruitment – Meaning and sources; Selection –Meaning and procedure; Training and development – Meaning, types of training, difference between selection and recruitment, Training and Development. (d) Directing: Meaning and importance; SupervisionMeaning, 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. (e) Controlling: Meaning, steps and importance; Relationship between Planning and Controlling; Management by Exception. (f) Coordination: Meaning of Coordination; Coordination as an essence of Management. |
| 4. Marketing |
| (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; the difference between product and services. Branding: meaning and merits. Labelling: meaning and merits. Packaging: meaning and features of good packaging. Price Mix – meaning, factors determining price. Place Mix – meaning, the 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 - Rights of consumers. The Consumer Disputes Redressal Commissions (National, State and District). Difference between Consumer Protection Act, 1986 and Consumer Protection Act, 2019. |
Paper II - Project Work - 20 Marks
Candidates will be expected to have completed two projects from any topic covered in Theory.
The project work will be assessed by the teacher and a Visiting Examiner appointed locally and approved by the Council.
Mark allocation for each Project [10 marks]:
| Overall format Content Findings Viva-voce based on the Project | 1 Mark 4 Marks 2 Marks 3 Marks |
There are a total of 11 topics that CISCE has recommended to students in ISC Class 11 Commerce. Any of these can be picked by students. Visit the link below to download the complete list of suggested assignment topics and the syllabus pdf.
| Download ISC Class 12 Commerce Syllabus 2023-24 PDF |
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