CBSE Class 12 Accountancy Syllabus (2026-27)

ACCOUNTANCY (Subject Code 055) Class XII (2026-27)

Rationale

The course in accountancy is introduced at plus two stage of senior second of school education, as the formal commerce education is provided after ten years of schooling. With the fast changing economic scenario, accounting as a source of financial information has carved out a place for itself at the senior secondary stage. Its syllabus content provide students a firm foundation in basic accounting concepts and methodology and also acquaint them with the changes taking place in the preparation and presentation of financial statements in accordance to the applicable accounting standards and the Companies Act 2013.

The course in accounting put emphasis on developing basic understanding about accounting as an information system. The emphasis in Class XI is placed on basic concepts and process of accounting leading to the preparation of accounts for a sole proprietorship firm. The students are also familiarized with basic calculations of Goods and Services Tax (GST) in recording the business transactions. The accounting treatment of GST is confined to the syllabus of class XI.

The increased role of ICT in all walks of life cannot be overemphasized and is becoming an integral part of business operations. The learners of accounting are introduced to Computerized Accounting System at class XI and XII. Computerized Accounting System is a compulsory component which is to be studied by all students of commerce in class XI; whereas in class XII it is offered as an optional subject to Company Accounts and Analysis of Financial Statements. This course is developed to impart skills for designing need based accounting database for maintaining book of accounts.

The complete course of Accountancy at the senior secondary stage introduces the learners to the world of business and emphasize on strengthening the fundamentals of the subject.

Objectives:

1. To familiarize students with new and emerging areas in the preparation and presentation of financial statements.
2. To acquaint students with basic accounting concepts and accounting standards.
3. To develop the skills of designing need based accounting database.
4. To appreciate the role of ICT in business operations.
5. To develop an understanding about recording of business transactions and preparation of financial statements.
6. To enable students with accounting for Not-for-Profit organizations, accounting for Partnership Firms and company accounts.

Accountancy (Subject Code 055) Class-XII (2026-27)

Theory: 80 Marks

3 Hours

Project: 20 Marks

Units Marks

Part A Accounting for Partnership Firms and Companies Unit 1. Accounting for Partnership Firms 36

Unit 2. Accounting for Companies 24 60 Part B Financial Statement Analysis Unit 3. Analysis of Financial Statements 12

Unit 4. Cash Flow Statement 8 20 Part C Project Work 20

Project work will include: Project File 12 Marks Viva Voce 8 Marks Or Part B Computerized Accounting Unit 4. Computerized Accounting 20

Part C Practical Work 20

Practical work will include: Practical File 12 Marks Viva Voce 8 Marks

Part A: Accounting for Partnership Firms and Companies Unit 1: Accounting for Partnership Firms

Units/Topics Learning Outcomes

• Partnership: features, Partnership Deed. After going through this Unit, the students will be able to:

in the absence of partnership deed. • state the meaning of partnership, partnership

• Fixed v/s fluctuating capital accounts. firm and partnership deed. • describe the characteristic features of partnership and the contents of partnership

guarantee of profits. deed.

Past adjustments (relating to interest on • discuss the significance of provision of

Partnership Act in the absence of partnership

sharing ratio). deed.

• super profit and capitalization. understanding and skill of preparation of Profit and Loss Appropriation Account.

Note: Interest on partner's loan is to be treated as a • develop the understanding and skill of

charge against profits. preparation profit and loss appropriation

Goodwill: meaning, factors affecting, need for account involving guarantee of profits.

valuation, methods for calculation (average profits, • develop the understanding and skill of

super profits and capitalization), adjusted through making past adjustments.

partners capital/ current account. • state the meaning, nature and factors

affecting goodwill

Accounting for Partnership firms - Reconstitution • develop the understanding and skill of

and Dissolution. valuation of goodwill using different methods.

• state the meaning of sacrificing ratio, gaining

the existing partners - sacrificing ratio, ratio and the change in profit sharing ratio

among existing partners.

• develop the understanding of accounting

treatment of revaluation assets and

and losses. Preparation of revaluation reassessment of liabilities and treatment of

account and balance sheet. reserves and accumulated profits by

preparing revaluation account and balance

sheet.

• explain the effect of change in profit sharing

ratio on admission of a new partner.

assessment of liabilities, treatment of • develop the understanding and skill of

reserves, accumulated profits and losses,

adjustment of capital accounts and preparation of capital, current account and balance sheet.

Retirement and death of a partner: effect of retirement / death of a partner on change in profit sharing ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and reassessment of liabilities, adjustment of accumulated profits, losses and reserves, adjustment of capital accounts and preparation of capital, current account and balance sheet. Preparation of loan account of the retiring partner.

• Calculation of deceased partner's share of profit till the date of death. Preparation of deceased partner's capital account and his executor's account.

Dissolution of a partnership firm: meaning of dissolution of partnership and partnership firm, types of dissolution of a firm. Settlement of accounts - preparation of realization account, and other related accounts: capital accounts of partners and cash/bank a/c (excluding piecemeal distribution, sale to a company and insolvency of partner(s)).

treatment of goodwill as per AS-26, treatment

of revaluation of assets and re-assessment of

liabilities, treatment of reserves and

accumulated profits, adjustment of capital

accounts and preparation of capital, current

account and balance sheet of the new firm.

• explain the effect of retirement / death of a partner on change in profit sharing ratio.
• develop the understanding of accounting treatment of goodwill, revaluation of assets and re-assessment of liabilities and adjustment of accumulated profits, losses and reserves on retirement / death of a partner and capital adjustment.
• develop the skill of calculation of deceased partner's share till the time of his death and prepare deceased partner's and executor's account.

discuss the preparation of the capital

accounts of the remaining partners and the

balance sheet of the firm after retirement /

death of a partner. • partnership firm can be dissolved.

Note:

• accounts.

1. If the realized value of tangible assets is not given it

should be considered as realized at book value itself.

1. If the realized value of intangible assets is not

given it should be considered as nil (zero value).

1. In case, the realization expenses are borne by a partner, clear indication should be given regarding the payment thereof.

Unit-3 Accounting for Companies

Units/Topics Learning Outcomes Accounting for Share Capital After going through this Unit, the students will be

Features and types of companies. able to:

• Share and share capital: nature and types. <math>\bullet</math> state the meaning of share and share capital