NCERT Solutions Class 12 Accountancy Company Accounts And Analysis Of Financial Statements

NCERT Solutions For Class 12 Accountancy Part-2

Class 12 is a crucial period for all students. It is the stepping stone for your future education, college life, and overall career path. No matter which stream you choose, scoring well in class 12 is of the utmost importance. 

They say ‘proper preparation prevents poor performance.’ So, with guidance, preparation, and rigorous practice, you can eliminate exam anxiety and score high marks on your class 12 exams. Work smart, not hard! Do not spend long hours memorising your textbooks. Instead, focus on understanding and remembering fundamental concepts. Additionally, not all subjects are the same. You need to approach each one differently. 

Accountancy is one subject that requires consistent and strategic preparation. Most curriculums only introduce this subject in class 12, and students who have just passed class 11th are unfamiliar with it. So, you need to get used to the subject and then gain mastery over it to score well. 

Accountancy is the systematic study of recording, classifying, and maintaining transaction reports. In the real world, Accountancy and record maintenance are important skills. They give feedback and insights about the financial situation of an organisation. If you want to learn about Accountancy and develop the fundamental skills of this subject, you need to be thorough with NCERT. Extramarks’ NCERT class 12 accountancy part 2 solutions can help you achieve this. 

Feel free to use our NCERT solutions while preparing for the CBSE Class 12 Accountancy exam. This comprehensive study material provides detailed information and step-by-step solutions formulated by our subject experts. Since you can refer to them any time you want, this is the simplest way to clear up all doubts on the subject.

NCERT Class 12 Accountancy Part 2 Chapter-wise Solutions 

NCERT Solutions For Class 12 Accountancy for Download 

You can download the NCERT solutions for class 12 accountancy part 2:

Save them on your device and refer to them as many times as you want throughout your exam preparation.

• These verified and comprehensive solutions are easy to use
• They help you gain more insight into each topic and chapter
• Using them, you can clarify your doubts and secure good marks in your class 12 Accountancy exam

NCERT Solutions of Class 12 Accountancy 

Modern Accountancy is more than just record-keeping. Thus, the NCERT syllabus for this subject is a vast one. Today, there are multiple aspects to Accountancy such as online business planning, monetary arranging, ecological bookkeeping, scientific bookkeeping, and much more. 

Here is the complete syllabus for Accountancy Part 2: 

Part – A

Unit 1 : Accounting for Not – For Profit Organisations

• Not-for-profit organisations: concept.
• Receipts and Payments Account: features and preparation.
• Income and Expenditure Account: features, preparation of income and expenditure account and balance sheet from the given receipts and payments account with additional information.

Unit 2 : Accounting for Partnership Firms

• Accounting for Partnership firms – Reconstitution and Dissolution
• Retirement and death of a partner: effect of retirement / death of a partner on change in profit sharing ratio, treatment of goodwill, treatment for revaluation of assets and reassessment of liabilities, adjustment of accumulated profits and reserves and preparation of balance sheet.
• Calculation of deceased partner’s share of profit till the date of death.
• Dissolution of a partnership firm: meaning of dissolution of partnership and partnership firm, types of dissolution of a firm. 
• Settlement of accounts – preparation of realisation 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)).

Unit 3 : Accounting for Companies

• Accounting for Debentures
• Debentures: Issue of debentures at par, at a premium and at a discount. Issue of debentures for consideration other than cash; Issue of debentures with terms of redemption; debentures as collateral security concept, interest on debentures. Writing off discount / loss on issue of debentures.

Part – B

Unit 4 : Analysis of Financial Statements

• Financial statements of a Company
• Tools for Financial Statement Analysis: Comparative statements, common size statements.

Unit 5 : Cash Flow Statement

• Meaning, objectives and preparation (as perAS 3 (Revised) (Indirect Method only)

OR

Unit 6 : Computerised Accounting

• Using Computerised Accounting System
• Steps in installation of CAS
• Codification and Hierarchy of account heads
• Creation of account using CAS
• Data entry, data validation and data verification
• Adjusting entries, preparation of balance sheet
• Preparation of profit and loss account with closing entries and opening entries
• Need and security features of the system
• Database Management System (DBMS)
• Concept and Features of a Database Management System
• Database Management Systems in Business Application
• Generating Accounting Information 
• Generating and managing Payrolls

CBSE Class 12 Accountancy Solutions Weightage Marks 

The mark wise distribution of the units of CBSE Class 12 Accountancy is as follows: 

PART A – Accounting for Non-profit organisations – 60 marks 

• UNIT 1 – 10 marks 
• UNIT 2 – 30 marks 
• UNIT 3 – 20 marks 

PART B – Financial statement analysis – 20 marks 

• UNIT 4 – 12 marks 
• UNIT 5 – 8 marks

The topics included in 12th Accountancy NCERT Solutions for Part 2 are as follows: 

• Accounting for Share Capital.
• Issue and Redemption of Debentures.
• Financial Statements of a Company.
• Analysis of Financial Statements.
• Accounting Ratios.
• Cash Flow Statements.

Benefits of NCERT Solutions For Class 12 Commerce Accounts 

Here is why you should refer to our NCERT solutions for class 12 accountancy part 2:

• They are a helpful guide to approaching the subject
• There is more than one way to solve a question. You can compare your answers with the ones detailed in the solutions
• Our experts have verified and prepared these solutions for the benefit of every student 
• The detailed explanations can help you understand the subject better. We have used easy–to-read language and explained all the important terms in the solutions
• The answers, tonality, and solutions strictly follow the guidelines put in place by the CBSE
• If you have any doubts, you can refer to the solution and practice how to solve a question. Then, you can test yourself and solve similar questions using the same approach
• The solutions are accompanied by data tables and real-life examples. So, you will be able to appreciate the practicalities of the subject
• The free document contains solutions to both theoretical and numerical questions. No need to buy bulky guides and question banks