Accountancy CBSE Class 12th

Accountancy, being a core subject of the Commerce stream, requires a strong understanding of accounting principles, systematic practice of journal entries, and confidence in analyzing and preparing financial statements. This course breaks down even the most complex accounting processes into easy-to-follow lessons that simplify learning and boost exam performance.

Course Highlights

This course is divided into two major parts as per the CBSE Class 12 syllabus:

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

1. Accounting for Not-for-Profit Organizations

• Meaning and features of NPOs

• Preparation of Receipts and Payments Account, Income and Expenditure Account, and Balance Sheet

• Treatment of special items like subscriptions, donations, and legacy

• Practical examples based on real-life organizations

2. Accounting for Partnership Firms

• Fundamentals of partnership, partnership deed, and fixed vs. fluctuating capital

• Distribution of profits, interest on capital and drawings, and salary to partners

• Admission of a partner – revaluation, goodwill treatment, capital adjustments

• Retirement and death of a partner – settlement of accounts, gaining ratio, etc.

• Dissolution of a firm – realization account, partner’s capital accounts, bank account

3. Accounting for Companies

• Issue of shares: at par, premium, and discount; forfeiture and reissue of shares

• Issue and redemption of debentures – types, accounting entries, and journal examples

• Disclosure of share capital in the balance sheet