NCERT Books for Class 12 Accountancy PDF

NCERT Book for Class 12 Accountancy PDF

In India, many students appear for their class 12 final board examinations every year. Moreover, the Central Board of Secondary Examination (CBSE) conducts the class 12 examinations for all the students coming under CBSE-affiliated schools. There are many subjects that a student gets to learn in this class. Class 12 is considered to be the academic year that can make or break a student’s career. Therefore, students must get a good hold of every subject they are preparing. Students who have chosen the commerce stream in class 12 must have a great understanding of accountancy. The CBSE revision notes followed by CBSE important questions are the two vital elements that a student must practise hard in order to score well in their accountancy examinations. Accountancy is a subject that can provide detailed insights into how a business actually works and the important factors related to it.

The National Council of Educational Research and Training, on the other hand, crafts the syllabus for class 12 CBSE accountancy. In an NCERT book, the chapters in a syllabus and all the topics related to it have been made easy to learn and understand. As accountancy is a subject that can help students aspiring to pursue BBA, B.Com, and MBA in their future careers, it is important to grasp the details of every concept present in the chapters. On this website, students can navigate to all the details of the CBSE class 12 accountancy chapters. Both Part 1 and Part 2 have been discussed in an elaborate manner as well. In addition, downloading the PDF of the NCERT book of class 12 accountancy can make a student’s study planning even easier. Students are welcome to download the PDF version of the NCERT class 12 accountancy book from this website.

CBSE Class 12 NCERT Books for Accountancy PDF Free Download

The National Council of Educational Research and Training, or NCERT, is an independent body that was established in 1961 with the goal of improving the effectiveness and quality of school education in India. The organisation undertakes educational research and experiments to assist in ensuring that students receive comprehensive instruction in each area. Following the CBSE-specified curriculum, NCERT has been creating books for both primary and secondary school education. With all the subjects deemed to be as important in building the knowledge of every student, NCERT books, such as the NCERT books for class 12 accountancy, are well-known for assisting students in the preparation of their board examinations. All the books are also available in PDF form through the organisation, where students can access the contents. Apart from following and practising from the NCERT class 12 accountancy book, students are also advised to solve problems from CBSE previous year question papers and CBSE extra questions provided by subject teachers.

NCERT Solutions for Class 12 Accountancy 

In the study of accountancy, every transaction, whether commercial or not, is recorded, classified, and the status of its report is continuously monitored. The management receives useful information on the institute’s financial situation as a result of this record maintenance, which is extremely beneficial. NCERT Class 12 solutions are one of the best resources for preparing for the second PUC accountancy examination. While preparing for the CBSE class 12 Accountancy examinations, the NCERT Accountancy book with class 12 solutions is an ideal resource for every student. This study guide includes in-depth information and solutions from subject specialists. The class 12 Accountancy NCERT solutions give students an in-depth knowledge of the chapters present in it. For CBSE class 12 students, using stuffy materials for class 12 accounting is the quickest approach to get all of their questions answered.

Students can learn more about the subject by downloading the free class 12 Accountancy NCERT solutions PDF. The topics covered in the Accountancy book class 12 NCERT solutions are crucial to understanding the material. NCERT solutions give students a clear perspective on the subject and aid them in performing well on tests. Students can find the NCERT solutions for class 12 online and can download them accordingly. It gets even simpler to comprehend with the NCERT class 12 Accountancy book.

The practice of bookkeeping has been safeguarded and limited over time to the bookkeeper’s activities in maintaining financial records. However, the contemporary trade environment has forced bookkeepers to adapt how they are perceived and what they are capable of, both as a foundation and affiliation. The role of a bookkeeper has evolved from that of a small promoter of transactions to that of a delegate providing pertinent information to the active group. Today’s bookkeeping goes beyond basic accounting and the organisation and preparation of financial reporting. Currently, bookkeepers are competent enough to work in respectable early-stage development industries. For instance, financial planning, ecological bookkeeping, scientific bookkeeping (setting breaks, such as PC hacking and the theft of a significant amount of money online), online business (planning electronic settlement conspire), and so forth, Extramarks NCERT solutions for Accountancy class 12 provides a broad range of learning.

The balance sheet displays the company’s financial status. After the exchange and profit and loss accounts are prepared, it records the business’s assets and liabilities at the end of the bookkeeping period. The balance sheet structure for non-profits determines the foundation’s financial status. A comparable example to the exchange materials is the preparedness of the financial records. It shows assets and liabilities at the end of the fiscal year. Liabilities are shown on the left side of the chart and resources are shown on the right. Instead of the Capital and the Satiate or Shortage according to Income and Expenditure A/c, there will be a General Fund or Capital Fund. Depending on the circumstances, it is either subtracted from or added to the capital asset. It is common practice to accurately include a portion of sponsored items such as additional fees, heirlooms and life participation costs in the capital asset.

Hence, in order to enlighten themselves, students can find all the know-how of the class 12 Accountancy solutions on this website. Be it for the partnership accounts or even the company accounts and analysis of financial statements, Extramarks is here to provide you with total guidance.

NCERT Books for Class 12

Students preparing for the CBSE Board examinations can benefit greatly from the NCERT class 12 books PDF. Students can readily learn the fundamental ideas of each subject thanks to the extensive guidance provided in the NCERT books. The NCERT books for class 12 provide comprehensive explanations of every subject, enabling students to master their courses and excel in the board exams. Mathematics, Biology, English, Economics, Accountancy and all the other topics are covered by NCERT. The books are brief but educational. A student’s best qualities will undoubtedly shine through with careful reading of the books and PDFs. The board examination syllabus is extensively covered in the book’s PDF versions. The class 12 NCERT books cover every chapter, topic and concept in detail.

NCERT Solutions for Class 12

You may obtain NCERT class 12 PDFs that have been thoroughly researched to help you study for your examinations. One of the most important grades in a student’s life is class 12 because it not only determines whether you pursue higher education but also possibly dictates what colleges/universities you may get into. Finding the best study material for exam preparation is a stressful process for most students. Experts conducted a comprehensive study before designing the NCERT solutions for class 12 to make sure that students have a less stressful and more joyful learning experience. To assist students in achieving their full potential, all of the PDF solutions are available on all topics, along with meticulously crafted extra question banks. Visit our official website right away to get your questions answered and to find the chapter PDFs you are looking for. With all the other subjects, the NCERT Accountancy book class 12 PDF download 2022-23 is also available on our website.

Chapters Included in the NCERT Class 12 Accounts Book

The NCERT accountancy textbooks contain the whole syllabus specified by CBSE for the 12th board examinations. The curriculum has been divided into two sections to separate the pertinent themes and concepts. Thus, there are two portions to the NCERT book and a PDF for class 12 accounting. Talking about the parts, the first part is number 1. Part 1 covers lessons on partnership accounts and Part 2 covers company accounts and financial statement analysis. Each lesson in the course curriculum has been carefully planned out to ensure that students receive the highest possible results on their board examinations. Keeping up with a revised CBSE syllabus along with the CBSE sample papers is also recommended for students preparing for class 12 board examinations. 

Chapter-Wise Elaboration of Part 1 of NCERT Accountancy Textbook for Class 12

A proper and elaborative guide to all the chapters of class 12 accountancy is necessary for students to analyse the topics discussed in it. It makes the studying process easier for many who are going to appear in their final board examinations. Therefore, a descriptive summary of every chapter is given down below.

Chapter 1: Accounting for Not-for-Profit Organization

The first chapter of the NCERT accountancy textbook for the 12th class gives a quick overview of how non-profit organisations like trade unions, governmental agencies, charities, public organisations and so on function. The chapter describes the various account types such as receipt and payment accounts and income and expense accounts on the basis on which these organisations operate. These accounts’ many characteristics are also listed in a thorough and accurate manner.

The first chapter of the NCERT class 12 accountancy Part 1 book also covers the ins and outs of subscription (revenue gathered from members as a membership fee), capital fund and other related topics (the excess of assets over liabilities). Following an explanation of these ideas, a few accounting issues are presented for students to work through in order to gain a better knowledge of the chapter as a whole.

Chapter 2: Account for Partnership

The accounts that are handled when two or more people or organisations decide to form a partnership are covered in this chapter of the NCERT accountancy book for class 12 PDF. The chapter starts off by defining Partnership Deed and outlining its significance. This chapter also lists the essential traits of a commercial relationship.

In this chapter of the NCERT class 12 Accountancy book, the mechanisms of fixed capital and fluctuating capital in terms of a partnership account are described in detail. Other topics covered in the second chapter include profit and loss adjustments account. Various sections of the Indian Partnership Act of 1932, interest to be charged when a partner, handling changes in the profit-sharing ratio, etc.

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

Students are briefed on the many elements that must be altered in the vent that a new partner enters the agreement in chapter 3 of the NCERT book of accountancy for class 12. This chapter has also covered why it’s crucial to guarantee a fresh profit ratio to the existing partners whenever a new partner is admitted.

The third chapter of the NCERT class 12 Accountancy book is crucial since it discusses the role of the sacrifice ratio, how it is used, and how it is calculated. The chapter also covers goodwill, elements that influence it, and several approaches to determining its worth in a relationship. Following an explanation of the key points, some scenario-based questions assist students in better comprehending the nuances of partnerships.

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

An explanation of the various methods in which a partner might leave a partnership agreement is given at the beginning of the fourth chapter of the NCERT accountancy book for class 12 Part 1. A quick directive on which elements require change when any of the partners resign follows. This chapter includes a detailed table outlining how the sacrificing ratio in a business partnership differs from the gaining ratio. Following this table is a discussion on the necessity of reassessing liabilities and assets upon retirement or the passing away of a specific partner.

The different ways to compensate a deceased or retiring partner are also covered in NCERT’s class 12 accountancy book.

Chapter 5: Dissolution of Partnership Firm

The fifth chapter of the NCERT accountancy book outlines the distinctions between the dissolution of a partnership and the dissolution of a partnership firm. In the NCERT class 12 Accountancy book, the accounting treatments for unrecorded assets and liabilities are also discussed in detail.

The chapter has covered realisation account and revaluation account differences as well as the distinction between a firm’s debts and a partner’s debts. A quick explanation of how the deficiency of creditors is satisfied when a firm dissolves is provided in this chapter of the NCERT accountancy textbook for class 12. The students can practice some accountancy sums at the end of this chapter.

Chapter-Wise Elaboration of Part 2 of NCERT Class 12 Accountancy Textbook

Just like Part 1 of the accountancy book, students also need to know all about the insights of the Part2 of the class 12 accounts book. Therefore, a detailed summary of each chapter present in Part 2 of the syllabus is given down below.

Chapter 1: Accounting for Share Capital

Students learn the basics of what a corporation, a listed company, a public company and a private company are in the first chapter of this book. It also provides an overview of their functions. The class 12 NCERT Accountancy book continues to discuss the following in its subsequent chapters:

  • Call in Arrears
  • Calls in Advance
  • Minimum Subscription
  • Shares and different types of shares
  • Oversubscription and under-subscription
  • Forfeiture of shares 

The various categories of a company’s share capital are described in the first chapter of the NCERT class 12 Accountancy book. These consist of the following:

  • Authorised Capital
  • Issues capital
  • Subscribed Capital
  • Unissued Capital
  • Unsubscribed Capital
  • Called up Capital
  • Paid-up Capital
  • Uncalled up Capital
  • Reserved Capital

The NCERT accountancy book for class 12 Part 2 chapter also provides a thorough analysis of the various types of preference shares.

Chapter 2: Issue and Redemption of Debentures

Students are introduced to the idea of debenture in the second chapter. The term is defined precisely, and the explanations of bearer debentures, irredeemable debentures, convertible debentures and mortgage debentures follow. The various aspects in which debentures might be divided are listed in this chapter of NCERT class 12 accountancy Part 2. They are as follows:

  • Security
  • Tenure
  • Mode of Redemption
  • Coupon Rate
  • Registration

These are some of the ideas that the second chapter of the NCERT class 12 accountancy book covers in detail:

  • Debentures issued as a form of security collateral
  • Issuance of debentures for payment other than cash
  • Debenture issuance at a discount and redemption at a premium
  • Premium on debenture redemption
  • Redemption out of capital
  • Debenture redemption through “Purchase in the Open Market.”

A thorough comparison of the distinctions between shares and debentures is provided in the NCERT book of accountancy class 12 as well.

Chapter 3: Financial Statements of a Company

This chapter discusses what financial statements mean, what they contain, and what their restrictions are. The chapter lists the many goals of a financial statement in detail. The reasons why financial statements are important are explained in the NCERT class 12 accountancy book PDF. Some of the sections for whom financial statements are important are listed below:

  • Shareholders
  • Creditors
  • Government
  • Investors

The third chapter of this accountancy NCERT class 12 book explains how various items, such as tools, dentures, dividends, etc., should be listed in a company’s balance sheet. Students go into considerable detail on the subjective issues of how a financial statement comes to be a combination of recorded facts, accounting norms, and personal perspectives.

Students are required to prepare a profit-loss statement, a balance sheet and an income statement for a set of questions in this chapter. By resolving these issues, a learner can become more proficient at calculating accountancy numbers.

Chapter 4: Analysis of Financial Statements

Students are introduced to various methods of financial statement analysis in this chapter of the Accountancy NCERT class 12 book. This comprises the following:

  • Comparative financial statement
  • Common size statement
  • Trend ratio
  • Average analysis
  • Statement of change in working capital
  • Fund flow statement
  • Cash flow statement
  • Ratio analysis
  • Cost volume ratio analysis

For ease of understanding, the list of distinctions between horizontal analysis and vertical analysis of financial data has been presented as a table. In this chapter, the value of financial analysis to a business is also discussed.

The words “analysis” and “interpretation” of a financial statement are explained in this chapter of the NCERT book for accountancy for class 12. There includes a thorough discussion of comparative financial statements and financial statements of common size.

Chapter 5: Accounting Ratios

The various types of ratios typically found in a financial statement are explained in detail in this chapter of the accounts NCERT class 12 book. These ratios include the following:

  • Profitability ratio
  • Coverage ratio
  • Turnover ratio
  • Financial ratio
  • Control ratio

Students learn about the linkages and formulas set to study in chapter 5 as well. These include the following:

  • Inventory turnover
  • Trade receivables turnover
  • Trade payables turnover
  • Working capital turnover

The fifth chapter of the NCERT class 12 Accountancy book contains a detailed discussion of both the current and liquid ratios. The chapter includes a full explanation of how each profitability ratio operates. A majority of the problems in this chapter deal with how to calculate various ratios.

Chapter 6: Cash Flow Statement

One of the most crucial chapters in the 12th class syllabus is the cash flow statement. The cash flow statement is defined precisely and appropriately in the NCERT accountancy textbook for class 12 students, followed by a discussion of its applications. The NCERT book of accounts for class 12 includes a description of the goals of creating cash flow statements for businesses. While creating a cash flow statement, students gain knowledge of the fundamentals of classifying diverse activities (in accordance with the amended provisions of AS-3). This chapter explains how to create a cash flow statement and how to calculate cash from various firm operational operations. This chapter lists the primary sources of cash intake and outflow for investing operations.