CBSE Class 12 Sample Papers, Syllabus, Test Papers & NCERT Solutions

NCERT Book for Class 12 Accountancy Part 1    Chapter 1 – Accounting for Not-for-Profit Organisation  Chapter 2 – Accounting for Partnership : Basic Concepts  Chapter 3 – Reconstitution of a Partnership Firm – Admission of a Partner  Chapter 4 – Reconstitution of a Partnership Firm – Retirement/Death of a Partner  Chapter 5 – Dissolution […]

 Accountancy Syllabus Session 2019-20

PART I Accounting for Not-for-Profit Organisation Accounting for Partnership: Basic Concepts Reconstitution of a Partnership Firm — Admission of a Partner Reconstitution of a Partnership Firm — Retirement/Death of a Partner Dissolution of Partnership Firm PART II Accounting for Share Capital Issue and Redemption of Debentures Financial Statements of a Company Analysis of Financial Statements […]

1. Cash Flow Statement Cash flow statement is a statement showing the changes in financial position of a business concern during different intervals of time in terms of cash and cash equivalents. The Revised Accounting Standard-3 has made it mandatory for all listed companies to prepare and present a cash flow statement along with other financial […]

Topic 1: Introduction 1. Ratio It is an arithmetical expression of relationship between two related or interdependent items. 2. Accounting Ratios It is a mathematical expression that shows the relationship between various items or groups of items shown in financial statements. When ratios are calculated on the basis of accounting information, they are called accounting […]

Topic 1: Introduction to Financial Statements Analysis 1. Financial Statement Analysis It is the systematic numerical representation of the relationship of one financial fact with the other to measure the profitability, operational efficiency, solvency and the growth potential of the business. 2. Types of Financial Statement Analysis (i) External analysis (ii) Internal analysis (iii) Horizontal analysis […]

1. Financial Statements The statements which are prepared to ascertain the profit earned or loss suffered and position of assets and liabilities at a particular date are known as financial statements. These are the final product of accounting process. A set of financial statements as per Section 2(40) of the Companies Act, 2013 include (0 Balance […]

Topic 1: Introduction, Issue of Debentures and Various Cases from The Point of View of Redemption 1. Meaning of Debenture It means a document of companies indebtedness issued under the seal of the company and containing a contract for the repayment of the principal sum at a specified date with interest at a fixed rate. […]

Topic 1: Introduction 1. Company A joint stock company is an artificial person, created by law, having separate entity distinct from its members with a perpetual succession and a common seal. 2. Characteristics or Features of a Company (i) Artificial person (ii) Voluntary association (iii) Created by law (iv) Capital divisible into transferable shares (v) […]

1. Dissolution Dissolution means discontinuance of existing relationship among the partners. According to Indian Partnership Act, 1932, dissolution may be either of partnership or of a firm. 2. Dissolution of Partnership It changes the existing relationship between partners but the firm may continue its business as before. 3. Dissolution of Partnership Firm Dissolution of firm means dissolution of […]

Topic 1: Introduction and New Profit Sharing Ratio/Gaining Ratio 1. Meaning of Retirement Retirement of a partner means ceasing to be a partner of the firm. The different ways by which a partner can retire from the firm are: (i) With the consent of all the partners. (ii) By giving notice in writing to all […]

Topic 1: introduction and New Profit Sharing Ratio and Sacrificing Ratio 1. Meaning Admission of a partner is one of the modes of reconstituting the firm under which old partnership comes to an end and a new one between all partners (including incoming partner) comes into existence. According to Section 31(1) of Indian Partnership Act, […]

Any change in existing agreement of partnership amounts to reconstitution of a firm. As a result, the existing agreement comes to an end and a new agreement comes into existence and the firm continues. 1. Modes of Reconstitution of a Partnership Firm Reconstitution of a firm can take place in any of the following ways […]

Topic1: Concepts of Partnership and Partnership Deed 1. Partnership According to Section 4 of the Indian Partnership Act, 1932, ‘Partnership is defined as, ‘the relation between persons who have, agreed to share the profits of a business carried on by all or any of them acting for all’. 2. Nature of Partnership Partnership is a […]