NCERT Books Class 12 Accountancy 2023-24 | For 2024 Board Exams | Free PDF Download

NCERT Textbooks for 12th class Accounts provide a thorough knowledge of difficult subjects and make concepts clear. The exercises from NCERT textbooks constitute the basis of the majority of CBSE Board questions. NCERT Books for 12th class Accountancy are recommended for those who find it challenging to learn the topic of accounting since they thoroughly explain each idea in plain English. It is advised that students extensively read NCERT textbooks in order to achieve the highest possible score in the CBSE Class 12 Accounts Board Exam. According to the 12th class Accountancy curriculum, the textbook provides an overview of all subject's subjects and principles.

If Class 12 students wish to achieve passing grades on the exam, they must thoroughly understand the material in the NCERT Books for 12th class Accountancy. It is simple to read and comprehend, and the principles are clearly described with relevant examples. Even the teachers consult the texts while creating the Class 12 Accountancy final exam. The topics covered in the NCERT Books for Class 12 Accounts include Cash Flow Statement, Accounting for Not-for-Profit Organizations, and Dissolution of Partnership Firm.

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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 touches 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 NCERT Books 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 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 to assure new profit ratio to old partners at the time of admission of new partner 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 helps students gain 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 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 provides 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

The NCERT Books Class 12 Accountancy 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 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.

The chapter also covers the different types of preference shares and their characteristics. 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 explain 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

-       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 statement are also explained in this chapter. This chapter also explains the important financial statements hold for: Shareholders, creditors, Government and Investors. You will also learn how to enlist different items likes dividend, debentures, tools, etc in balance sheet of the company.

By tackling the questions in this chapter, students will have the opportunity to sharpen their skills in creating a profit-loss statement, a balance sheet, and an income statement. These exercises will not only strengthen their understanding of accountancy principles, but also enhance their ability to efficiently solve accountancy problems.

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.

To easy to understand the list of difference between horizontal and vertical analysis of financial data has given in table format in this chapter. You will also learn about analysis, interpretation, comparative and common size financial statement in this chapter.

Chapter 5 - Accounting Ratios

The chapter on ratio analysis in the NCERT Books Class 12 Accountancy book 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 NCERT accountancy book for class 12 students provides a comprehensive definition of cash flow statements and lists the objectives of preparing them in business.

Additionally, students are taught how to compute cash from different operating activities and identify the major sources of cash inflow and outflow in investing activities. Overall, the chapter on cash flow statements in the NCERT Books Class 12 Accountancy develop a solid understanding of this important financial concept.

NCERT textbooks are written in straightforward language that suits to students' problem-solving ability. This is a benefit of using NCERT materials for Class 12 Accountancy. These books easily eliminate any scepticism 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. Mostly, students who have studied the NCERT texts can solve the twisted questions on the CBSE test papers with accuracy.

• The current CBSE curriculum is followed in the writing of NCERT books. NCERT books, which form the basis for board examinations and competitive exams, offer a wealth of study resources.

• 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 NCERT Textbooks for 12th class Accountancy is crucial for both board examinations and better marks. Students should practice each of the NCERT Books' Class 12 Accounting problems. to achieve a high grade. The full CBSE board syllabus is included in these books, which is essential for the test. Selecting NCERT books is suggested for students in order to improve their test preparation.

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.

Hope that our comprehensive post about NCERT Books 12th class Accountancy will aid in your study efforts and help you succeed in the Class 12 examinations or other competitive tests.