Maharashtra State Board HSC Book-Keeping and Accountancy Syllabus 2023: Only two months are left in the Maharashtra Board HSC exams, and students’ preparation is in full gear. But the hard work will be in vain unless you know the correct syllabus. On that note, we bring you the latest Book-Keeping and Accountancy syllabus released by the Maharashtra State Board of Secondary & Higher Secondary Education for class 12th HSC students.
Book-Keeping and Accountancy is the study of the data of financial systems. It’s an essential skill for all commerce stream students, especially those who want to venture into CA and investment banking fields. Book-Keeping and Accountancy is a difficult and highly analytical subject that requires an immense amount of practice from students.
You can check out the Maharashtra State Board HSC Book-Keeping and Accountancy syllabus 2023 below. The PDF link is attached at the end of the article.
Maharashtra State Board HSC Book-Keeping and Accountancy Syllabus for Class 12
- Introduction to Partnership
1.1 Meaning and definitions
1.2 The Indian partnership Act 1932
1.3 Methods of capital accounts
- i) Fixed Capital Method
- ii) Fluctuating Capital Method
2. Partnership Final Accounts
2.1 Introduction and Necessity of preparation of Final Accounts with
- Closing stock
- Outstanding expenses
- Prepaid expenses
- Income received in advance
- Income receivable
- Bad debts
- Provision for doubtful debts
- Reserve for discount on debtors and creditors
- Interest on capital, drawings and loans
- Interest on investment and loans
- Goods destroyed by fire/ accident(insured / uninsured)
- Goods stolen
- Goods distributed as free samples
- Goods withdrawn by partners
- Unrecorded purchases and sales
- Capital expenditure included in revenue expenses and vice-versa
- Bills Receivable dishonoured
- Bills payable dishonoured
- Deferred expenses
- Capital receipts included in revenue. Receipts and vice-versa
- Commission to working partner/Managers on the basis of Gross profit, Net profit, sales, etc.
- Reconstitution of Partnership
3.1 Meaning and different ways of
3.2 Admission of a partner
3.2.1 Meaning and Need
3.2.2 Capital brought by new partner
3.2.3 New profit sharing ratio
3.2.4 Sacrifice ratio
3.2.5 Goodwill - Meaning, Methods of valuation and treatment of goodwill.
- i) Average profit method
- ii) Super profit method
3.2.6 Adjustment of accumulated profits and losses.
3.2.7 Revaluation of assets and liabilities
3.2.8 Adjustment of capitals
3.3 Retirement / Death of a partner
3.3.1 Meaning, need
3.3.2 New ratio
3.3.3 Gain ratio
3.3.4 Treatment of goodwill
3.3.5 Adjustment of accumulated profits and lossess
3.3.6 Revaluation of assets and liabilities
3.3.7 Adjustment of capital
3.3.8 Amount due to retiring parter
3.3.9 Death of partner
- Dissolution of Partnership Firm
4.1 Simple dissolution
4.2 Dissolution under Insolvancy situation
- Accounts of “Not for Profit” concerns
5.1 Introduction, meaning and features of “Not for Profit” concerns.
5.2 Receipts and Payments Account meaning and features. Distinction between Income and Expenditure account.
5.3 Preparation of Income and Expenditure Account and Balance Sheet with the following
- a) Additional Information
- Outstanding expenses and prepaid expenses of the current and previous year
- Accrued income and income received in advance
- Subscription received in advance and Subscription outstanding of the current and previous year
- Capitalisation of entrance fees.
- Creation of special funds out of donations
- Stock of stationery
- Opening balances of assets and liabilities
- b) Important Items
Entrance fess, Subscriptions, Legacy, life membership fees, Sale of old assets, Scrap, News papers, Specific donation, General Donations, Specific Funds, Endowment fund
- Single entry system
- Meaning of single entry system.
- Difference between single entry and double entry system.
6.2 Preparation of statements
6.3 Additional information.
- Additional capital
- Depreciation on fixed Asset
- Bad Debts
- Reserve for Doubtful Debts
- Undervaluation and Overvaluation of Assets and Liabilities
- Interest on loan
- Interest on capital
- Interest on Drawings
- Partners salary
- Outstanding / Unpaid expenses
- Prepaid Expenses/ Expenses paid in advance.
- Bill of Exchange (Only Trade Bill)
7.1 Introduction, necessity, Meaning, Definition of Bill of Exchange
7.2 Draft/format of Bills, Parties to the Bill of Exchange, Acceptance of Bill, Terms of Bill, Days of Grace, Date of maturity, Due Date, Types of Bill
7.3 Honouring of Bill, Dishonour of Bill, Noting and Protesting of Bill, Notary Public and Noting Charges
7.4 Accounting Treatment of Bill by the Drawer/Holder and Drawee in following cases
a) Retaining the Bill till due date. honour/dishonour, insolvency of the drawee/ acceptor
b) Endorsement of the Bill, Honour/dishonour and also insolvency of acceptor
c) Discounting the Bill with the Bank honour/dishonour and insolvency.
d) Sending the Bill to the Bank for collection, honour/ dishonour and insolvency
e) Renewal of Bill-Reasons for Renewal of the Bill. Renewal of Bill with or without charging interest
f) Making part payment of basic amount, interest and noting charges and drawing of new Bill
g) Honour/dishonour of New Bill
h) Insolvency of the acceptor and settlement of his account
i) Retirement of Bill
j) Journal Entries and Ledger
- Company Accounts Part-I
Accounting for shares
8.1 Share and share capital, Meaning, Nature and Types
8.2 Accounting for Share Capital: Issue and Allotment of Equity Shares.
Private placement of shares. Public subscription of shares. Over subscription and Under subscription of shares. Issue at Par and premium, and at discount, Calls in advance in arrears, Issue of shares for consideration other than cash
8.3 Accounting treatment of forfeiture and re-issue
8.4 Disclosure of Share capital in Company’s Balance Sheet (Horizontal form)
- Company Accounts Part-II
Accounting for Debentures
9.1 Debentures : Meaning, Issue of debentures at par, at premium and at discount
9.2 Issue of debentures for consideration other than cash. Interest on Debentures
- Analysis of financial statements
10.1 Financial statement Analysis: meaning, objectives and limitations
10.2 Tools for financial statement Analysis-meaning of comparative statements, common size statements, cash flow analysis, and Ratio analysis
10.3 Accounting Ratios : Meaning objectives and classification of Ratios
10.4 Introductions to current ratio, liquid ratio, Gross profit ratio, operating profit ratio and Net profit ratio. ROI, ROCI
Book-Keeping and Accountancy is one of the most important subjects for commerce students and is necessary to succeed as a financial analyst, chartered accountant or investment banker. Hopefully, students will take some time off and go through the HSC class 12 book-keeping and accountancy syllabus before attempting the exams to make sure they've not missed preparing any topics.
All the Best!