CBSE Class 12 Accountancy: chapter-wise study guide

Accounting for Partnership: Basic Concepts

• Profit and Loss Appropriation Account
• Interest on Drawings
• Past Adjustments in Partnership

Interest on a partner's loan is a charge against profits, not an appropriation.

Reconstitution of a Partnership Firm – Admission of a Partner

• Valuation of Goodwill
• Treatment of Goodwill on Admission
• Revaluation Account and Reserves on Admission

Goodwill is treated as per AS 26, adjusted through partners' capital or current accounts.

Reconstitution of a Partnership Firm – Retirement/Death of a Partner

• Gaining Ratio
• Goodwill on Retirement or Death of a Partner
• Deceased Partner's Share of Profit and Executor's Account

Dissolution of Partnership Firm

• Realisation Account
• Journal Entries on Dissolution
• Settlement of Accounts on Dissolution

Piecemeal distribution, sale to a company and insolvency of a partner are not asked.

Accounting for Share Capital

• Forfeiture of Shares
• Reissue of Forfeited Shares
• Pro-Rata Allotment of Shares

Calls in advance and calls in arrears are asked without interest.

Issue and Redemption of Debentures

• Issue of Debentures with Terms of Redemption
• Writing off Discount or Loss on Issue of Debentures
• Debentures Issued for Consideration Other than Cash

Only issue of debentures (including terms of redemption) is assessed; accounting for actual redemption is not, and TDS on interest is excluded.

Financial Statements of a Company

• Balance Sheet Format under Schedule III
• Current and Non-current Classification
• Statement of Profit and Loss under Schedule III

Only for students taking Option I. Exceptional items, extraordinary items and discontinued operations are excluded.

Analysis of Financial Statements

• Comparative Statements
• Common-size Statements
• Objectives and Limitations of Financial Statement Analysis

Only for students taking Option I.

Accounting Ratios

• Liquidity Ratios: Current Ratio and Quick Ratio
• Activity (Turnover) Ratios
• Solvency Ratios

Only for students taking Option I. Net profit ratio is asked on profit before and after tax.

Cash Flow Statement

• Classification of Cash Flow Activities
• Cash Flow from Operating Activities (Indirect Method)
• Cash Flow from Investing and Financing Activities

Only for students taking Option I. Indirect method only, as per AS 3 (Revised).

Overview of Computerised Accounting System

• Features, Advantages and Limitations of CAS
• Accounting Vouchers in Computerised Accounting
• Security Features of Computerised Accounting

Only for students taking Option II instead of Analysis of Financial Statements.

Spreadsheet

• Formulas, Functions and Cell References
• Data Validation in a Spreadsheet
• Conditional Formatting

Only for students taking Option II instead of Analysis of Financial Statements.

Use of Spreadsheet in Business Applications

• Loan Repayment Schedule with PMT
• Depreciation Schedule with SLN and DB
• Pivot Tables

Only for students taking Option II instead of Analysis of Financial Statements.

Graphs and Charts for Business Data

• Types of Charts
• Steps to Create a Chart
• Chart Elements and Formatting

Only for students taking Option II instead of Analysis of Financial Statements.