Term Wise Syllabus (Session 2019-20)

Class-XII
Subject- Accountancy (Code No. 055)
I TERM CONTENTS
April 2019 Part A: Accounting for Not-for-Profit Organizations, Partnership Firms and
to Companies
September Unit 1: Financial Statements of Not-for-Profit Organizations
2019 • Not-for-profit organizations: concept
• Receipts and Payments Account: features and preparation.
• Income and Expenditure Account: features, preparation of
income and expenditure account and balance sheet from the given receipts
and payments account with additional information
Scope:

(i) Adjustments in a question should not exceed 3 or 4 in number and

restricted to subscriptions, consumption of consumables and sale of assets/ old
material.

(ii) Entrance/admission fees and general donations areto be treated as

revenue receipts.

(iii) Trading Account of incidental activities is not to beprepared.

Unit 2: 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: 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 to be adjusted through partners capital/current account or by raising
and writing off goodwill (AS 26)

YUVA-2.22 more Joyful Learning

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 and accumulated profits.
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 re- assessment of liabilities, treatment of reserves
and accumulated profits, adjustment of capital accounts and preparation of
balance sheet.
• Retirement and death of a partner: effect of retirement / death of a partner
on change in profit sharing ratio, treatment of goodwill (as per AS 26),
treatment for revaluation of assets and reassessment of liabilities, adjustment
of accumulated profits and reserves, adjustment of capital accounts and
preparation of balance sheet. Preparation of loan account of the retiring
partner.
 Calculation of deceased partner’s share of profit till the date of death.
Preparation of deceased partner’s capital account and his executor’s account.

YUVA-3.1 Attitude is Everything!

Dissolution of a partnership firm: meaning of dissolution of partnership and
partnership firm, types of dissolution of a firm. Settlement of accounts - preparation
of realization account and other related accounts: capital accounts of partners and
cash/bank a/c (excluding piecemeal distribution, sale to a company and insolvency
of partner(s)).
Note:
(i) The realized value of each asset must be given at the time of dissolution.
(ii) In case, the realization expenses are borne by a partner, clear indication should
be given regarding the payment thereof.
Unit-3 Accounting for Companies
Accounting for Share Capital
 Share and share capital: nature and types.
YUVA-3.3 My Principles are my Strength!
• Accounting for share capital: issue and allotment of equity and preferences
shares. Public subscription of shares- over subscription and under subscription of
shares; Issue at par and at premium, calls in advance and arrears (excluding
interest), issue of shares for consideration other than cash.
 Concept of Private Placement and Employee Stock Option Plan (ESOP)
 Accounting treatment of forfeiture and re-issue of shares.
 Disclosure of share capital in the Balance Sheet of a company.
YUVA-3.5 Meditation and Pre-Examination Stress

Mid Term Examinations

II TERM CONTENTS
October Accounting for Debentures
2019  Debentures: Issue of debentures at par, at a premium and at a discount, issue
to of debentures for consideration other than cash; Issue of debentures with terms of
February redemption; debentures as collateral security-concept, interest on debentures.
2020 Writing off discount / loss on issue of debentures.
Note: discount or loss on issue of debentures to be written off in the year
debentures are allotted from security premium reserve (if it exists and then
from statement of profit and loss as financial cost (AS 16)
• Redemption of debentures-Method: Lump sum, draw of lots.
Creation of Debenture Redemption Reserve
Note: Related sections of the Companies Act, 2013 will apply.

Part B: Financial Statement Analysis

Unit 4: Analysis of Financial Statements
Financial Statements of a Company: statement of Profit and Loss and Balance
Sheet in prescribed form with major headings and sub headings (as per
Schedule III to the Companies Act, 2013).
Note: Exceptional items, extraordinary items and profit(loss) from discontinued
operations are excluded
 Financial Statement Analysis: Objectives, importance and limitations
 Tools for Financial Statement Analysis:
Comparative statements, common size statements, cash flow analysis, ratio analysis.
 Accounting Ratios: Meaning, Objectives classification and computation.
Liquidity Ratios: Current ratio and Quick ratio.
Solvency Ratios: Debt to Equity Ratio, Total Asset to Debt Ratio, Proprietary Ratio
and Interest Coverage Ratio.
Activity Ratios: Inventory Turnover Ratio, Trade Receivables Turnover Ratio,
Trade Payables Turnover Ratio and Working Capital Turnover Ratio
Profitability Ratios: Gross Profit Ratio, Operating Ratio, Operating Profit Ratio,
Net Profit Ratio and Return on Investment.
Note: Net Profit Ratio is to be calculated on the basis profit before and after
tax.

YUVA-.3 Chase your Dreams

Unit 5: Cash Flow Statement
 Meaning, objectives and preparation (as per AS 3 (Revised) (Indirect Method
only)
Note:
(i) Adjustments relating to depreciation and amortization, profit or loss
on sale of assets including investments, dividend (both final and
interim) and tax
(ii) Bank overdraft and cash credit to be treated as short term borrowings.
(iii) Current Investments to be taken as Marketable securities unless
otherwise specified.
Note: Previous years’ Proposed Dividend to be given effect, as prescribed in
AS-4, Events occurring after the Balance Sheet date. Current years’
Proposed Dividend will be accounted for in the next year after it is declared
by the shareholders.
Part C: Project Work
Note: Kindly refer to the Guidelines published by the CBSE.
YUVA-12.6 The Power of effective Communication
Project Work and Revision for Mock Test (with the support material available) and
solution of mock test paper in classroom
YUVA-12.9 Let Everyonelive!
Revision for Pre-Board Examination (with the support material available) and
solution of pre-board exam paper in class room
 YUVA-12.12 Facing and managing changes
Revision for CBSE Annual Examination
YUVA-12.5 I can improve my performance in the coming Board Exam
NOTE: SYLLABUS SHOULD BE COMPLETED BY NOVEMBER 2019.
Annual Examination

Accountancy (Code No. 055)

Class-XII (2019-20)
Theory: 80 Marks Duration: 3 Hours
Project: 20 Marks

Units Periods Marks

Part A Accounting for Not-for-Profit Organizations, Partnership
Firms and Companies
Unit 1. Financial Statements of Not-for-Profit Organizations 25 10
Unit 2. Accounting for Partnership Firms 90 30
Unit 3. Accounting for Companies 35 20
150 60
Part B Financial Statement Analysis
Unit 4. Analysis of Financial Statements 30 12
Unit 5. Cash Flow Statement 20 8
50 20
Part C Project Work 20 20
Project work will include:
Project File 4 Marks
Written Test 12 Marks (One Hour)
Viva Voce 4 Marks
 Suggested Question PaperDesign
Accountancy (Code No. 055)
Class XII(2019-20)
Theory: 80 Marks Duration: 3hrs.
Project: 20 Marks

S Objective Short Short Long Long

No. Typology of Questions Type/ MCQ Answer I Answer II Answer I Answer II Marks
1 Mark 3 Marks 4 Marks 6 Marks 8 Marks
1 Remembering: Exhibit memory 5 1 1 1 - 18
of previously learned material by
recalling facts, terms, basic
concepts, and answers.
2 Understanding: Demonstrate 5 1 1 1 1 26
understanding of facts and ideas
by organizing, comparing,
translating, interpreting, giving
descriptions, and statingmain
ideas
3 Applying: Solve problems to 5 - 2 1 - 19
new situations by applying
acquired knowledge, facts,
techniques and
rules in a different way.
4 Analysing and Evaluating: 5 - 1 - 1 17
Examine and break information
into parts by identifying motives
or causes. Make inferences and
find evidence to support
generalizations.

Present and defend opinions by

making judgments about
information, validity of ideas, or
quality of work based on a set of
criteria.

Creating: Compile information

together in a different way by
combining elements in a new
pattern or proposing alternative
solutions.

TOTAL 20x1=20 2x3=6 5x4=20 3x6=18 2x8=16 80 (32)

There will be internal choice in questions of 3 marks, 4 marks, 6 marks and 8 marks. All
questions carrying 8 marks will have an internal choice.