Download Ncert Class 12 Accountancy Book pdf for Reduced Syllabus

Download Ncert Class 12 Accountancy Book pdf for Reduced Syllabus

Downloading Ncert Class 12 Accountancy Book PDF  is the best study material to prepare for CBSE class 12th Accounts exams. CBSE has announced that 2021 board exams will now be held from 4th May 2021, Tuesday. Due to Covid-19 students were not able to attend school for a long time. VSI provides all the necessary information and pdf files related to class 12th commerce for CBSE and other state boards. In order to know class 12th Commerce syllabus, Class12th commerce marks weightage, Ncert Class 12 Accountancy Book solutions, Class 12th commerce books, CBSE class 12th commerce papers, and many more please visit our website.

VSI is a 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 either take a printout of pdf or study directly through soft copy.

CBSE prescribed Book for 2021 exam:

Students who are appearing for CBSE class 12th Accountancy exam in English should follow these books

https://drive.google.com/file/d/1EshIh84O78uX14tWCa-CdMOxoeF43vjY/view?usp=sharing

Students who are appearing for CBSE class 12th Accountancy exam in Hindi Should follow these books 

In case if the students have opted  for a computerized Accounting system then CBSE prescribed book is  Computerised Accounting System Class XII NCERT Publication

CBSE Class 12th 2021  Accounts Syllabus Chapter Wise

There are 5 chapters in the entire Accountancy part -1 book and 6 chapters in the Accountancy part -2 book that cover the entire syllabus of Accountancy for class 12th exams that will be held in 2021.

According to the CBSE commerce students who have opted for Accountancy (Code No. 055)  should divide their entire course into 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 

 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 

Units Accounts Book  ChaptersWise PDF Pages Marks weightage 
Unit 1. Financial Statements of Not-for-Profit Organizations Book 1 Chapter: 1 Accounting for Not-for-Profit Organisation 38 10
Unit 2. Accounting for Partnership Firms Book 1 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 of Partnership Firm

47

60

149

04

30
Unit 3. Accounting for Companies  Book 2 Chapter 1 Accounting for Share Capital

Chapter 2 Issue and Redemption of Debentures

73

69

20

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. 

  • Understand the  meaning of a Not-for-profit organization and how it is different from a profit
  • making an entity. 
  • Understand the meaning and features of receipts and payments accounts, and also learn how to prepare receipts and payments accounts.
  • 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 : 

(i) Adjustments in a question should not exceed 3 or 4 in number and restricted to subscriptions,

consumption of consumables, funds, and sale of assets/ old material/funds.

(ii) Entrance/admission fees and general donations are to be treated as revenue receipts.

(iii) 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. 

  • Understand partnership, partnership firm, and partnership deed. 
  • Should be able to list all the characteristic features of a partnership and the contents of the partnership deed. 
  • Should also be able to identify the significance of the provision of the Partnership Act in the absence of a partnership deed.
  • 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. 
  • Understand goodwill, valuation of goodwill using different methods.
  • Modes of Reconstitution of a Partnership Firm, How to treat Admission of a New Partner  New Profit Sharing Ratio, Sacrificing Ratio 
  • Adjustment for Accumulated Profits and Losses, Revaluation of Assets and Reassessment of Liabilities, Adjustment of Capitals 
  • Change in Profit Sharing Ratio among the  Existing Partners
  • Ascertaining the Amount Due to Retiring/Deceased Partner
  • New Profit Sharing Ratio, Gaining Ratio, Treatment of Goodwill 
  • Adjustment for Revaluation of Assets and Liabilities, Adjustment of Accumulated Profits and Losses
  • Disposal of Amount Due to Retiring Partner 
  • Adjustment of Partners’ Capitals, Death of a Partner
  • Dissolution of Partnership Firm, Dissolution of Partnership, Dissolution of a Firm, Settlement of Accounts, Accounting Treatment
   Some important checks by CBSE for Unit 2 : 

(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, 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. 

  • Understand Accounting for Share Capital for companies 
  • Learn Features and kinds  of a Company
  • Understand Share Capital of a Company, Nature, and Classes of Shares  and Issue of Shares 
  • Accounting Treatment and Forfeiture of Shares
  • Issue and Redemption of Debentures Meaning of Debentures 
  • 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 
  • 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 
  • Redemption by Purchase in Open Market 
  • Redemption by Conversion
   Some important checks by CBSE for Unit 3 : 

eg: 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 

Units Accounts Book  ChaptersWise pdf Pages Marks weightage 
Unit 4. Analysis of Financial Statements  Book 2  Chapter 4 Analysis of Financial Statements

Chapter 5 Accounting Ratios

16

33

12
Unit 5. Cash Flow Statement Book 2 Chapter 6 Cash Flow Statement 20 8

Unit 4. Analysis of Financial Statements 

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

  • Able to state the meaning, objectives, and limitations of financial statement analysis.
  • Learn the proper use of different tools of ‘financial statements analysis’.
  • Are able to make Comparative Statements and  Common Size Statement
  • Understand the Meaning, objective, advantage, and limitation of each Accounting Ratios 
  • Learn the formulas for all Types of Ratios 
    • 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.
   Some important checks by CBSE for Unit 4 : 
  •  Net Profit Ratio is to be calculated on the basis of profit before and after-tax.
  • 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)
  • 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

  • Understand the objectives  and benefits of the Cash Flow Statement 
  • Learn about Cash and Cash Equivalents,  Cash Flows
  • 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.

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.

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

Why Should You Consider NCERT Books for CBSE Class 12th Accounts Paper?

There are many popular books for class 12th accounts available in the market like TS Agarwal or DK goel. But after reviewing the12th  last 10-year paper from all boards, we suggest that completing the entire syllabus of the NCERT book is enough to score more than 90% marks in accounts. 

NCERT books are well structured, clear, and simple. They are also the most authentic copy of the entire updated study material. 

As a pioneer educator for the last 14 years, we advise our students to only study from NCERT books.

Comment below if you want to. know more about CBSE class XII accounts Paper.

We wish you all the best for the future.