The Class XII Accountancy syllabus for the academic year 2024-25 is structured as follows:
Part A: Accounting for Partnership Firms and Companies
Unit 1: Accounting for Partnership Firms
- Features of Partnership and Partnership Deed
- Capital Accounts: Fixed vs. Fluctuating, Profit & Loss Appropriation Account
- Goodwill: Nature, Factors, and Valuation Methods (Average Profit, Super Profit, Capitalization)
- Reconstitution of Partnership:
- Change in Profit-Sharing Ratio: Sacrificing and Gaining Ratios, Revaluation of Assets and Liabilities
- Admission of a Partner: Goodwill, Revaluation of Assets, and Adjustments
- Retirement and Death of a Partner: Goodwill, Revaluation, Accumulated Profits, Capital Adjustment, Executor’s Account
- Dissolution of Partnership Firm: Settlement of Accounts, Realization Account
Unit 2: Accounting for Companies
- Share Capital: Types, Issue, and Allotment of Shares; Concepts of Private Placement and Employee Stock Option Plan (ESOP)
- Accounting for Debentures: Issue of Debentures (at Par, Premium, Discount), Writing off Discounts/Losses on Issue, Redemption of Debentures
Part B: Financial Statement Analysis
Unit 3: Analysis of Financial Statements
- Financial Statements of a Company: Nature, Purpose, and Structure (as per Schedule III of the Companies Act, 2013)
- Financial Statement Analysis Tools: Comparative Statements, Common Size Statements, Ratio Analysis
- Types of Ratios:
- Liquidity Ratios: Current Ratio, Quick Ratio
- Solvency Ratios: Debt to Equity, Proprietary, Interest Coverage
- Activity Ratios: Inventory Turnover, Receivables Turnover, Payables Turnover, Working Capital Turnover
- Profitability Ratios: Gross Profit, Operating Ratio, Net Profit, Return on Investment
Unit 4: Cash Flow Statement
- Preparation of Cash Flow Statements (Indirect Method as per AS 3): Classification of Cash Flows, Adjustments for Non-Cash Items, Cash and Cash Equivalents
Part B (Alternative): Computerized Accounting
Unit 4: Computerized Accounting
- Overview of Computerized Accounting Systems (CAS): Features, Applications, Structure
- Electronic Spreadsheet Applications: Bank Reconciliation, Asset Accounting, Ratio Analysis, Data Representation
- Using CAS: Data Entry, Account Creation, Adjusting Entries, Security Features
Part C: Project Work
- Project File: Focus on financial statement analysis or computerized accounting aspects (e.g., ratios, cash flow statement)
- Viva Voce: Assessment of understanding related to the project
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