(Download) CBSE Class-12 Sample Paper (Accountancy) 2015

Part A : Accounting for Partnership Firms and Companies 60 Marks 150 Periods

Unit 1: Accounting for Partnership Firms

•  Partnership: features, Partnership deed.

•  Provisions of the Indian Partnership Act 1932 in the absence of partnership deed.

•  Fixed v/s fluctuating capital accounts. Preparation of Profit & Loss Appropriation account- division of Profit among partners, guarantee of profits.

•  Past adjustments (relating to interest on capital, interest on drawing, salary and profit sharing ratio).

•  Goodwill: nature, factors affecting and methods of valuation - average profit, super profit and capitalization.

Scope : Interest on partner’s loan is to be treated as a charge against profits.

Accounting for Partnership firms - Reconstitution and Dissolution.

•  Change in the Profit Sharing Ratio among the existing partners - sacrificing ratio, gaining ratio. Accounting for revaluation of assets and re-assessment of liabilities and treatment of reserves and Accumulated profits.

•  Admission of a partner - effect of admission of a partner on change in the profit sharing ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and re - assessment of liabilities, treatment of reserves and accumulated profits, adjustment of capital accounts and preparation of balance sheet.

•  Retirement and death of a partner: Effect of retirement /death of a partner on change in profit sharing Ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and re - assessment of Liabilities, adjustment of accumulated profits and reserves, adjustment of capital accounts and preparation of balance sheet. Preparation of loan account of the retiring partner.
  – Calculation of deceased partner's share of profit till the date of death. Preparation of deceased Partner’s capital account, executor's account and preparation of balance sheet.

•  Dissolution of a partnership firm: types of dissolution of a firm. Settlement of accounts - preparation of

Realization 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)).

Note:

(i) If value of asset is not given, its realized value should be taken as nil.
(ii) In case, the realization expenses are borne by a partner, clear indication should be given regarding the payment thereof.

Unit 2: Accounting for Companies

Accounting for Share Capital

•  Share and share capital: nature and types.

•  Accounting for share capital: issue and allotment of equity shares, private placement of shares, Public subscription of shares - over subscription and under subscription of shares; Issue at par and at premium and at discount, calls in advance and arrears (excluding interest), issue of shares for consideration other than cash.

•  Accounting treatment of forfeiture and re-issue of shares.

•  Disclosure of share capital in company's Balance Sheet.

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.

•  Redemption of debentures: Lump sum, draw of lots and purchase in the open market (excluding and cum- interest). Creation of Debenture Redemption Reserve.

Part B: (i) Financial Statement Analysis 20 Marks 50 Periods
Unit 3: Analysis of Financial Statements

•  Financial statements of a company: Statement of Profit and Loss and Balance Sheet in the prescribed form with major headings and sub headings (as per Schedule VI to the Companies Act,
  1956).

Scope : Exceptional Items, Extraordinary Items and Profit (loss) from Discontinued Operations are excluded.

•  Financial Statement Analysis: Objectives and limitations.

•  Tools for Financial Statement Analysis: Comparative statements, common size statements, cash flow Analysis, ratio analysis. 4

•  Accounting Ratios: Objectives, classification and computation.

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