Class XII

Accountancy

Chapter 1       Partnership Accounts – Fundamentals

Chapter 2       Reconstitution of Partnership - Changing Ratio or Admission of a new Partner

Chapter 3       Reconstitution of Partnership – Retirement / Death of a Partner

Chapter x       Dissolution of Partnership firm (This chapter is deleted for 2009 exam and added back for 2010)

Chapter 4       Company Accounts – Shares

Chapter 5       Company Accounts – Debentures

Chapter 6       Accounting for Non-Profit Organizations

Chapter 7       Analysis of Financial Statements - Ratio Analysis

Chapter 8       Analysis of Financial Statements - Cash Flow Statements

Detailed Syllabus for 2009 Examination

Accounting for Not-For-Profit Organisations, Partnership Firms and Companies

Unit 1: Accounting for Not-For-profit Organisations (10 marks)

• Not for profit organisation: Meaning and examples.

• Receipts and payments: Meaning and concept of fund based accounting.

• Preparation of Income and Expenditure Account and Balance Sheet from Receipt and Payment Account with additional information.

Unit 2: Accounting for Partnership firms (5 marks)

• Nature of Partnership firm: Partnership Deed-meaning, importance.

• Partners' Capital Accounts : Fixed vs Fluctuating Capital, Division of Profit among partners, Profit and Loss Appropriation Account including past adjustments.

Unit 3: Reconstitution of Partnership (20 marks)

• Changes in Profit Sharing Ratio among the existing partners-Sacrificing Ratio and Gaining Ratio.

• Accounting for Revaluation of Assets and Liabilities and distribution of reserves and Accumulated Profits.

• Goodwill: Nature, Factors affecting and methods of valuation: Average profit, Super profit and Capitalisation methods.

• Admission of a Partner: Effect of Admission of Partner, Change in Profit Sharing Ratio, Accounting Treatment for Goodwill (as per AS 10), Revaluation of Assets and Liabilities, Reserves (accumulated Profits) and Adjustment of Capitals.

• Retirement/Death of a Partner: Change in Profit Sharing ratio, accounting treatment of Goodwill, Revaluation of Assets and Liabilities, Adjustment of accumulated Profits (Reserves) and capitals.

Unit 4: Accounting for Share Capital and Debenture (25 marks)

• Share Capital: Meaning, Nature and Types.

• Accounting for share capital: Issue and Allotment of Equity and Preference Shares;; Private placement of shares, meaning of employee stock option plan, public subscription of shares : over subscription and under subscription; issue at par, premium and at discount; calls in advance, calls in arrears, issue of shares for consideration other than cash.

• Forfeiture of shares : accounting treatment, re-issue of forfeited shares.

• Presentation of Share Capital and Debenture in company’s Balance Sheet.

• Issue of debenture-at par and premium; issue of debenture for consideration other than cash.

• Redemption of debentures out of capital; redemption methods : lump sum payment, draw by lots, purchase in the open market and conversion (excluding cum-interest and exinterest).

Part B: Financial Statement Analysis

Unit 5: Analysis of Financial Statements (12 marks)

• Financial Statements of a Company: preparation of simple balance sheet of a company in
  the prescribed form with major headings only.

• Financial Statement Analysis: meaning, significance, limitations,

• Tools for Financial Statement Analysis: Comparative Statements, Common Size Statements, Accounting Ratios: meaning and objectives, types of ratios: Liquidity Ratios: Current Ratio, Liquid RatioSolvency Ratios: Debt to Equity, Total Assets to Debt, Proprietary Ratio Activity Ratios: Inventory Turnover, Debtors Turnover, Payables Turnover,Working Capital Turnover, Fixed Assets Turnover, Profitability Ratio: Gross Profit, Operating Ratio, Net Profit Ratio, Return on Investment, Earning Per Share, Dividend per Share, Price Earning Ratio

Unit 6: Cash Flow Statement (8 marks)

• Cash Flow Statement: Meaning and objectives, preparation, adjustments related to depreciation, dividend and tax, sale and purchase of non-current assets (as per revised standard issued by ICAI)

Unit 7: Project Work in Accounting (20 marks)

(Please refer to the guidelines published by the CBSE)

OR

Part C: Computerised Accounting (20 marks)

Unit 5: Overview of Computerized Accounting System (5 marks)

• Concept and types of Computerised Accounting System (CAS)

• Features of a Computerized Accounting System

• Structure of a Computerised Accounting System

Unit 6: Accounting using Database Management System (DBMS) (8 marks)

• Concept of DBMS

• Objects in DBMS: Tables, Queries, Forms, Reports

• Creating data tables for accounting

• Using queries, forms and reports for generating accounting information. Applications of DBMS in generating accounting information such as shareholders’ records, sales reports, customers’ profile, suppliers’ profile, payroll, employees’ profile, petty cash register.

Unit 7: Accounting Applications of Electronic Spreadsheet (7 marks)

• Concept of an Electronic Spreadsheet (ES)

• Features offered by Electronic Spreadsheet

• Applications of Electronic Spreadsheet in generating accounting information, preparing depreciation schedule, loan repayment schedule, payroll accounting and other such applications.

Unit 8: Practical Work in Computerised Accounting (20 marks)

(Please refer to the guidelines published by the CBSE)