Download CBSE Class 12 Accountancy Syllabus 2021 Free

Download CBSE Class 12 Accountancy Syllabus 2021 Free

CBSE class 12th Accounts syllabus is important for commerce students and also for the students who are aspiring CA. The 12th syllabus and CA foundation account syllabus go hand in hand.

Senior secondary exam for class 12th is usually held in the month of February but this year due to Covid-19, CBSE class XII boards exams have been postponed till 4th May 2021. The CBSE has issued the new exam date sheet for the Class12th board exams. Students can grab the opportunity of more time and less and reduced syllabus to score more than 90% marks in accounts subject.

The other way to score more in an accounting paper is to follow VSI. We are India’s best coaching institute providing physical and online classes to class 11&12th students. VSI is also CA coaching institute in India that provides the best CA coaching for foundation, intermediate and final. CBSE Class 12th commerce students prefer to choose CA as a professional course after their senior secondary exams.

Students who are still confused about which books should I read to complete the accounts 2021 syllabus, which chapters are deleted after CBSE reduce 30% course, then this blog is just for your help.

Here we have shared all the PDF to Download Ncert Class 12 Accountancy Book for CBSE and also the chapter wise links rightly syncing with the new and reduced syllabus.

To excel in your commerce 2021 exams read our blog on preparation tips and advice from our expert teachers.

Students can download a pdf of the Revised CBSE  Accounts Syllabus for class 12th Commerce 2020-21 with the deleted topics.

Download (30% Reduced) CBSE  Accounts Syllabus for Class 12th Commerce 2020-21

Revised CBSE Class 12 Marking Scheme for Accounts 2020-21

UnitsChapter NamesMarking Scheme
Part A: Accounting for Partnership Firms and Companies60
Unit 1Financial Statements of Not-for-Profit Organizations10
Unit 2Accounting for Partnership Firms20
Unit 3Accounting For Companies30
Part B: Financial Statement Analysis20
Unit 4Analysis of Financial Statements12
Unit 5Cash Flow Statement8
PracticalProject Work and Viva20

Students must download class 12 syllabus 2020-2021pdf from the given link below.

Download New CBSE Syllabus for Class 12th Accountancy 2020-21: Chapter-Wise

According to the CBSE commerce students who have opted for Accountancy (Code No. 055)  should divide their entire Syllabus in 3 different parts;

Part A Accounting for Not-for-Profit Organizations, Partnership Firms, and Companies

Part B Financial Statement Analysis

Part C Project Work

Accountancy Part A Syllabus and Chapters with Book PDF Link

To cover the first Part A syllabus students will require Accountancy Book 1 and a few chapters from Accountancy Book 2. The marks weightage given to part A is 60marks. Part A Accounting for Not-for-Profit Organizations, Partnership Firms and Companies can further be divided into 3 units

Unit 1. Financial Statements of Not-for-Profit Organizations

Students need to cover the following important topics for unit 1 of the Part A Account syllabus.

  1. Understand the meaning of a Not-for-profit organization and how it is different from a profit-making entity.
  2. Understand the meaning and features of receipts and payments accounts, and also learn how to prepare receipts and payments accounts.
  3. Understand income and expenditure features and learn to prepare income and expenditure accounts and balance sheets of a not-for-profit organization.
   Some important checks by CBSE for Unit 1 :
    1. Adjustments in a question should not exceed 3 or 4 in number and restricted to subscriptions,
    2. consumption of consumables, funds, and sale of assets/ old material/funds.
    3. Entrance/admission fees and general donations are to be treated as revenue receipts.
    4. Trading Account of incidental activities is not to be prepared.

 Unit 2. Accounting for Partnership Firms

Students need to cover the following important topics for unit 2 of the Part A Account syllabus.

  1. Understand partnership, partnership firm, and partnership deed.
  2. Should be able to list all the characteristic features of a partnership and the contents of the partnership deed.
  3. Should also be able to identify the significance of the provision of the Partnership Act in the absence of a partnership deed.
  4. Easily differentiate between fixed and fluctuating capital,  and be able to count them while preparing a Profit and Loss Appropriation Account, and should also learn how to involve guarantee of profits while preparing P&L appropriation account.
  5. Understand goodwill, valuation of goodwill using different methods.
  6. Modes of Reconstitution of a Partnership Firm, How to treat Admission of a New Partner  New Profit Sharing Ratio, Sacrificing Ratio
  7. Adjustment for Accumulated Profits and Losses, Revaluation of Assets and Reassessment of Liabilities, Adjustment of Capitals
  8. Change in Profit Sharing Ratio among the  Existing Partners
  9. Ascertaining the Amount Due to Retiring/Deceased Partner
  10. New Profit Sharing Ratio, Gaining Ratio, Treatment of Goodwill
  11. Adjustment for Revaluation of Assets and Liabilities, Adjustment of Accumulated Profits and Losses
  12. Disposal of Amount Due to Retiring Partner
  13. Adjustment of Partners’ Capitals, Death of a Partner
  14. Dissolution of Partnership Firm, Dissolution of Partnership, Dissolution of a Firm, Settlement of Accounts, Accounting Treatment
   Some important checks by CBSE for Unit 2 :
    1. The realized value of each asset must be given at the time of dissolution.
    2. In case, the realization expenses are borne by a partner, a clear indication should be given regarding the payment thereof.

Unit 3. Accounting for Companies

Students need to cover the following important topics for unit 3 of the Part A Account syllabus.

  1. Understand Accounting for Share Capital for companies
  2. Learn Features and kinds  of a Company
  3. Understand Share Capital of a Company, Nature, and Classes of Shares  and Issue of Shares
  4. Accounting Treatment and Forfeiture of Shares
  5. Issue and Redemption of Debentures Meaning of Debentures
  6. The distinction between Shares and Debentures, Types of Debentures, Issue of Debentures, Over Subscription, Issue of Debentures for Consideration other than Cash, Issue of Debentures as a Collateral Security
  7. Terms of Issue of Debentures, Interest on Debentures, Writing off Discount/Loss on Issue of Debentures, Redemption of Debentures, Redemption by Payment in Lump Sum
  8. Redemption by Purchase in Open Market
  9. Redemption by Conversion
   Some important checks by CBSE for Unit 3 :

e: 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). Note: Related sections of the Companies Act, 2013 will apply

Accountancy Part B Syllabus and Chapters

To cover the  Part B of the syllabus students will require Accountancy Book 2. The marks weightage given to part A is 20 marks. Part B Financial Statement Analysis can further be divided into 2 units

SectionCompetenciesChaptersWise pdfPagesMarks weightage
Unit 4. Analysis of Financial StatementsBook 2Chapter 4 Analysis of Financial Statements

Chapter 5 Accounting Ratios

16

33

12
Unit 5. Cash Flow StatementBook 2Chapter 6 Cash Flow Statement208

Unit 4. Analysis of Financial Statements

Students need to cover the following important topics for unit 4 of the Part B Account syllabus.

  1. Able to state the meaning, objectives, and limitations of financial statement analysis.
  2. Learn the proper use of different tools of ‘financial statements analysis’.
  3. Are able to make Comparative Statements and  Common Size Statement
  4. Understand the Meaning, objective, advantage, and limitation of each Accounting Ratios
  5. Learn the formulas for all Types of Ratios
    1. Liquidity Ratios: Current ratio and Quick ratio.
    2. Solvency Ratios: Debt to Equity Ratio, Total, Asset to Debt Ratio, Proprietary Ratio and, Interest Coverage Ratio.
    3. Activity Ratios: Inventory Turnover Ratio, Trade Receivables Turnover Ratio, Trade Payables Turnover Ratio, and Working Capital Turnover Ratio.
    4. Profitability Ratios: Gross Profit Ratio, Operating Ratio, Operating Profit Ratio, Net Profit Ratio, and Return on Investment.
   Some important checks by CBSE for Unit 4 :
  1.  Net Profit Ratio is to be calculated on the basis of profit before and after-tax.
  2. Statement of Profit and Loss and Balance Sheet in the prescribed form with major headings and subheadings (as per Schedule III to the Companies Act, 2013)
  3. Exceptional items, extraordinary items, and profit (loss) from discontinued operations are excluded.

Unit 5. Cash Flow Statement

Students need to cover the following important topics for unit 5 of the Part B Account syllabus

  1. Understand the objectives  and benefits of the Cash Flow Statement
  2. Learn about Cash and Cash Equivalents,  Cash Flows
  3. Preparation of cash flow statement after ascertaining cash flow from operating activities, ascertainment of cash flow from investing and financing activities
  Some important checks by CBSE for Unit 5 :

(i) Adjustments relating to depreciation and amortization, profit or loss on the 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.

Accountancy Part C Project work Syllabus and Chapters

 Part C is project work which can be submitted from March onwards. Students need to prepare a project file and also prepare for a written test and viva for PArt c of the syllabus. In order to assess the student on their practical knowledge, CBSE has also issued guidelines on preparing project files. Students can read our blog on Accounts project work for 2020-2021 to know project ideas, prescribed format, marks weightage, and how and when to submit the project.

Students can create a project file by referring to both the accounts book published by NCERT.

Don’t Get Confused with Computer Accounting Syllabus

CBSE has allowed students of class 12th to switch to computer accounting even if they were having accounts in class 11th. In order to sync the senior secondary curriculum with the latest industry trend, CBSE induced a new subject Computer accounting. For students who opted for computerized accounting, the syllabus remains similar except unit-4. The regular Unit 4 Analysis of Financial Statements is replaced by a computer accounting unit. To cover the syllabus of computer accounting, students need to download a pdf of a computer accounting book from here.

This book is divided into 5 chapters and has 150 pages.

In order to know class 12th Commerce syllabus, Class12th commerce marks weightage, NCERT accountancy book class  12th solutions, Class 12th commerce books, CBSE class 12th commerce papers, and many more please visit our website.

Deleted  Topics for Class 12th CBSE Accounts 2021 syllabus

Class-XII

Part A: Accounting for Not-for-Profit Organizations, Partnership Firms and Companies Deleted Portion

Unit 1: No deduction In Unit 1

Unit 2: Accounting for Partnership Firms has some topics deleted.

Topics

Accounting for Partnership firms – Reconstitution and Dissolution.

  1. Admission of a partner – adjustment of capital accounts and preparation of balance sheet.
  2. Retirement and death of a partner: adjustment of capital accounts. Preparation of the loan account of the retiring partner.
  3. Preparation of deceased partner’s capital account and his executor’s account.

Unit – 3 Accounting for Companies has some topics deleted.

Topics

  1. Accounting for Debentures
  2. Redemption of debentures-Methods: Lump sum, the draw of lots.
Part B Financial Statement Analysis Deleted Portion

Chapter 3 of Accountancy Book 2 is deleted.

Part C Project work deleted portion

Project Work: From session 2020-21 onwards, there would be only ONE project (specific) to be prepared.

According to new guidelines published by the CBSE for class 12th Accounts project, there will be only one project instead of three hence 10 Lectures were reduced in the same.

How to study for CBSE Class 12th 2021 Accounts Paper?

Only after having a clear basic understanding, it becomes easy for students to understand their treatment in accounting books. Through focused and detailed study, students can gain the skill to analyze accounting statements through different ratios and help in solving business complexities. VSI provides a complete guide for CBSE class 12 Preparation Tips for Commerce. To score good marks in the CBSE class 12 exam 2020-21 students can follow the tips given below.

  1. Write down the formulas and theories on a chart and can keep it handy by sticking it in your room for quick reference,
  2. Make notes and illustrate every aspect of the non-profit organization, partnership firms, and corporates  in your own words
  3. Make charts of all the accounting ratios and try to memorize them in an interesting format.
  4. While preparing accounting statements, identify the nature of the product and thoroughly analyze it before its treatment.

Conclusion

Once the CBSE class 12 Commerce Examination 2020-21 gets over, students have various career opportunities to explore. VSI provides complete guidance to students to achieve their goals. Students can register for the free online class “VSI Jaipur” and can attend lectures at home comfortably.

Students Also Asked

What are the minimum passing marks for CBSE class 12th exam?

Ans. Students must gain at least 33% to pass in all subjects for CBSE class 12th exam 2020-21.

Does CBSE class 12th syllabus vary state wise?

Ans. No, CBSE class 12th syllabus remains the same for all states. Even the question papers are now similar for all states.

When can I join a CA course?

Ans. CA course eligibility starts after completing class 12th exams from any stream.

Can I Join CA  coaching when I am appearing for my 11th std Exams?

Ans. Yes, you can join our institute for foundation coaching, even when you are preparing for the 11th Std exams. This will help you to complete your 11th std commerce syllabus and will also buy more time to study for the toughest course in India.