NCERT Books Class 12 Accountancy 2025-26 | For 2026 Board Exams | Free PDF Download

NCERT Textbooks for Class 12th provides a thorough knowledge of all the subjects and sets the foundation of basic concepts. The exercises from NCERT textbooks constitute the basis of the majority of CBSE Board questions.

Oswaal NCERT Books for Class 12th Accountancy are recommended for those who find it challenging to understand the topics of accounting. This book is based on the CBSE Curriculum and compiles all the important topics and chapters. The book is divided into 2 parts. Part 1 and 2 containing different chapters. Below here is an explanation of each unit:

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Chapter 1 - Accounting for Not-for-Profit Organization

The NCERT Books Class 12 Accountancy textbook delves into the financial operations of non-profit organizations, such as charities, trade unions, and government agencies, in its first chapter. It covers the different types of accounts that these organizations use, including Receipt and Payment Accounts and Income and Expenditure Accounts, and explains their key features.

The chapter also focuses on the concept of subscription income and capital funds, and includes practice problems to help students solidify their understanding of the material. Overall, the first chapter of the Oswaal NCERT Book Class 12 Accountancy Part 1 book provides a comprehensive overview of the financial management of non-profit organizations.

Chapter 2 - Account for Partnership

This chapter covers important concepts related to business partnerships, including the definition and characteristics of a partnership, the mechanics of fixed and fluctuating capital in a partnership account, and provisions of the Indian Partnership Act 1932.

The chapter also covers topics such as profit and loss adjustments, the charging of interest when a partner draws income, guarantees of profit for partners, and the handling of changes in profit sharing ratios. Understanding these concepts can be important for anyone looking to start or participate in a business partnership.

Chapter 3 - Reconstitution of a Partnership Firm: Admission of a Partner

The Oswaal NCERT Books Class 12 Accountancy Chapter 3 covers the various adjustments that need to be made when a new partner joins a partnership agreement. The importance of assuring a new profit ratio to old partners at the time of admission of new partners is also explained in this chapter. The concept of sacrificing ratio, its purpose, and how it is calculated are also discussed. 

Goodwill, which is the intangible asset that reflects the reputation and image of a business, is another key topic covered in this chapter. The factors that impact goodwill and the different methods used to determine its value in a partnership are explained in detail. The chapter concludes with some situational questions that help students gain a deeper understanding of the complexities of partnerships.

Chapter 4 - Reconstitution of a Partnership Firm: Retirement/Death of a Partner

In the fourth chapter of the Oswaal NCERT Books Class 12 Accountancy Part 1, the topic of a partner retiring from a partnership is addressed. The chapter explains the different ways in which a partner can retire and provide guidelines on the adjustments that need to be made in the partnership when this occurs.

The chapter also includes a table that compares the sacrificing ratio to the gaining ratio in a business partnership and discusses the need to re-evaluate assets and reassess liabilities upon the retirement or death of a partner. Additionally, the NCERT Books Class 12 Accountancy provides information on the various modes of paying a deceased or retired partner.

Chapter 5 - Dissolution of Partnership Firm

This textbook digs into the details of partnership dissolution and the accounting treatments for unrecorded assets and liabilities in its fifth chapter. It also clarifies the distinction between a firm's debts and partner's debts, realization account and revaluation account. This chapter offers a comprehensive understanding of how to address the deficiency of creditors during the dissolution process.

To further aid students in their learning journey, the chapter concludes with a series of practice problems to test their comprehension of the material covered.

NCERT Books Class 12 Accountancy (Part - II) 

Chapter 1 - Accounting for Share Capital

The first chapter of the Oswaal NCERT Books Class 12 Accountancy Part-2 provides students with a foundational understanding of what a company is and how it operates. It covers topics such as listed companies, public companies, and private companies. Additionally, the chapter discusses the concept of share capital, including the different categories of share capital such as authorized capital, issued capital, subscribed capital, and paid-up capital.

Other topics covered in the chapter include call in arrears, calls in advance, minimum subscription, oversubscription and under subscription, and forfeiture of shares. Overall, the chapter is designed to give students a comprehensive overview of the various aspects of a company's financial structure and operations.

Chapter 2 - Issue and Redemption of Debentures

This chapter defines the concept of debentures. It gives the detailed definition of the term and explains irredeemable, bearer, mortgage and convertible debentures. This chapter also explains the different aspects of debentures: Security, Tenure, Mode of Redemption, Coupon rate and Registration.

Some other concepts which are explained in detail in this chapter are: Debenture issued as collateral security, Issue of debenture for consideration other than cash, Issue of debentures at discount and redeemable at premium, Redemption out of capital, and Redemption of debentures by ‘Purchase in open market’.

Chapter 3 - Financial Statements of a Company

This chapter teaches students about the financial statements, what it includes and its limitations. The different objectives of financial statements are also explained in this chapter. This chapter also explains the important financial statements held for: Shareholders, creditors, Government and Investors. You will also learn how to enlist different items like dividend, debentures, tools, etc in the balance sheet of the company.

Chapter 4 - Analysis of Financial Statements

This chapter teaches students about different techniques of financial statement analysis which includes: comparative financial statement, Common size statement, Trend ratio average analysis statement, cash flow statement, ratio analysis and cost volume ratio analysis.

It Is easy to understand the list of differences between horizontal and vertical analysis of financial data in table format in this chapter. You will also learn about analysis, interpretation, comparative and common size financial statements in this chapter.

Chapter 5 - Accounting Ratios

The chapter on ratio analysis in the Oswaal NCERT Books Class 12 Accountancy provides a comprehensive overview of the various ratios that are commonly found in a financial statement. These ratios include profitability ratios, coverage ratios, turnover ratios, financial ratios, and control ratios. The chapter also dig into the formulae and relationships used to study inventory turnover, trade receivables turnover, trade payables turnover, and working capital turnover.

In addition, the chapter explains the concept of current and liquid ratios, and includes a variety of problems for students to practice calculating different types of ratios.

Chapter 6 - Cash Flow Statement

Cash flow statements are an important financial tool that provides information about the movement of cash in and out of a business. They are used to understand the financial health of a company, as well as its ability to generate cash and pay off debts.

In class 12, students learn the principles of preparing a cash flow statement, including the classification of various activities according to the revised provisions of AS-3. The Oswaal NCERT accountancy book for class 12 students provides a comprehensive definition of cash flow statements and lists the objectives of preparing them in business.

Oswaal NCERT textbooks are written in straightforward language that suits students' problem-solving ability. These books easily eliminate any complex subjects.

• Students who review the board test question papers from the previous year will find that the NCERT books are used most frequently in the questions. 

• The current CBSE curriculum is followed in Oswaal NCERT books. NCERT books form the basis for board examinations and competitive exams.

• In order to prepare for their final exam, students can practise a variety of problems from the NCERT books. Students receive a series of questions to respond to at the conclusion of each chapter in order to gauge their comprehension of the subject.

• Every chapter in the Oswaal NCERT Textbooks for 12th class Accountancy is crucial for board examinations and better marks. Students should practice each of the NCERT Books' Class 12 Accounting problems to achieve a high grade.

The NCERT syllabus primarily focuses on this textbook in order to make it user-friendly for both students and those preparing for competitive exams. Nearly all Indian education both state and federal boards are completely compatible with NCERT Accounts Books for Class 12.