Accountancy

CBSE Class 12 Accountancy

Class 12 Accountancy under CBSE covers the accounts of not-for-profit organisations, partnership firms and companies, and the analysis of financial statements. ‘Accounting for Not-for-Profit Organisations and Partnership Firms’ begins with receipts and payments accounts and income and expenditure accounts, then takes partnership from the deed and the appropriation account through changes in the profit-sharing ratio, admission, retirement and death of a partner, to dissolution. ‘Company Accounts’ deals with share capital and with the issue and redemption of debentures. ‘Analysis of Financial Statements’ covers company statements in the Schedule III format, comparative and common-size statements, accounting ratios, and the cash flow statement.

The subject is arranged as 3 units and 12 chapters: 6 in the first unit, 2 in the second and 4 in the third. In each chapter a short myth-check leads into 6 or 7 concept cards. A written explanation with an Indian example comes next, then a worked example in which every step comes with its reason. The 5 or 6 practice questions of each chapter are repeated in the quiz, which shows a running score and an explanation after each answer.

A reasonable order is to attempt the NCERT textbook problems on paper first and then use the worked example and practice questions here to compare method and answers. The ‘Stuck?’ panel offers three graded hints on each of several common misconceptions and can be tried before a difficulty is taken to the teacher. The questions on this site are written independently and do not reproduce the textbook’s exercises, so those exercises still need to be done separately, and any difference in layout should be settled with the teacher.

Popular chapters

• Financial Statements of a Company
• Accounting for Not-for-Profit Organisations