CLASS 12 ACCOUNTANCY SYLLABUS (CBSE)

THEORY 80 marks
PROJECT 20 marks
TIME 3HRS

PART A

Accounting for Partnership Firms and Companies

MARKS

Unit 1. Accounting for Partnership Firms
Unit 2. Accounting for Companies

36
24

Part B

Financial Statement Analysis

MARKS

Unit 3. Analysis of Financial Statements
Unit 4. Cash Flow Statement

12
8

Part C

Project Work

MARKS

Project File
 Viva Voce

12
8

Part A: Accounting for Partnership Firms and Companies

Unit 1: Accounting for Partnership Firms

Partnership: features, Partnership Deed.
• Provisions of the Indian Partnership Act 1932 in the absence 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.

Note: Interest on partner’s loan is to be treated as a charge against profits. Goodwill: meaning, factors affecting, need for valuation, methods for calculation (average profits, super profits and capitalization), adjusted through partners capital/ current account.

Accounting for Partnership firms – Reconstitution and Dissolution.

• 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.

• Admission of a partner – 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.