CBSE 2017-18 Syllabus Class-12 : Accountancy

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CBSE Class-12 Syllabus 2017-18

Subject: Accountancy

Rationale

The course in Accountancy is introduced at +2 stage of Senior Secondary education, as formal commerce education is provided after first ten years of schooling. With the fast changing economic scenario and business environment in a state of continuous flux, elementary business education along with accountancy as the language of business and as a source of financial information has carved out a place for itself at the Senior School stage. Its syllabus content should give students a firm foundation in basic accounting principles and methodology and also acquaint them with the changes taking place in the presentation and analysis of accounting information, keeping in view the development of accounting standards and use of computers.

Against this background, the course puts emphasis on developing basic understanding about the nature and purpose of the accounting information and its use in the conduct of business operations. This would help to develop among students logical reasoning, careful analysis and considered judgement. Accounting as an information system aids in providing financial information. The emphasis at Class XI is placed on basic concepts and process of accounting leading to the preparation of accounts for a sole proprietorship firm.

Computerized accounting is becoming popular with the increasing use of computers in business. Keeping this in view, the students are exposed compulsorily to the basic knowledge about computers and its use in accounting in the same year.

In class XII, Accounting for Partnership Firms and Companies are to be taught as a compulsory part. Students will also be given an opportunity to understand further about Computerized Accounting System, as an optional course to Analysis of Financial Statements.

Objectives:

to familiarize the students with accounting as an information system;
to acquaint the students with basic concepts of accounting and accounting standards;
to develop the skills of using accounting equation in processing business transactions;
to develop an understanding about recording of business transactions and preparation of financial statements;
to enable the students with accounting for reconstitution and dissolution of partnership firms;
to enable the students to understand and analyse the financial statements; and
to familiarize students with the fundamentals of computerized system of accounting.