Nagaland Board Class 12th Accountancy Syllabus 2025-26: Download PDF Below

Unit

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Detailed Description

1. Accounting for Not-for-Profit Organizations (NPOs)

- Concept of NPOs - Receipts & Payments Account - Income & Expenditure Account - Balance Sheet

10

Students learn how to prepare accounts for organizations that operate for service and not profit, such as clubs, schools, and charitable trusts. Focus is on understanding the difference between Receipts & Payments Account (cash-based) and Income & Expenditure Account (accrual-based). Questions test preparation of financial statements, adjustments, and treatment of subscriptions, donations, and grants.

2. Accounting for Partnership Firms – Fundamentals

- Nature of Partnership - Partnership Deed - Capital Accounts (Fixed & Fluctuating) - Profit & Loss Appropriation Account - Interest on Capital, Drawings, Commission, Salary, etc.

10

This section builds the foundation of partnership accounting. Students are taught to maintain partner’s capital accounts and record adjustments as per the partnership deed. The aim is to understand the distribution of profits and proper recording of partner-related transactions.

3. Change in Profit-Sharing Ratio among Partners

- Sacrificing Ratio and Gaining Ratio - Revaluation of Assets and Liabilities - Treatment of Reserves, Accumulated Profits, and Goodwill

10

Students learn how to adjust accounts when existing partners change their profit-sharing ratio. Focus is on journal entries for revaluation, goodwill adjustment, and redistribution of accumulated profits/losses.

4. Admission of a Partner

- Calculation of New Profit-Sharing Ratio - Treatment of Goodwill - Revaluation of Assets & Liabilities - Adjustment of Capitals - Preparation of Balance Sheet

10

Admission introduces a new partner into the firm. Students learn how to handle goodwill (premium method, revaluation), adjust old partners’ capital accounts, and prepare the final Balance Sheet after admission.

5. Retirement and Death of a Partner

- New Profit-Sharing Ratio and Gaining Ratio - Treatment of Goodwill - Revaluation of Assets and Liabilities - Settlement of Retiring Partner’s Dues - Adjustment of Capitals

10

This unit explains how accounts are settled when a partner retires or dies. Students focus on goodwill adjustments, calculation of retiring partner’s claim, and preparation of reconstituted Balance Sheet. For death, treatment of deceased partner’s share of profit and capital is emphasized.

6. Dissolution of Partnership Firm

- Modes of Dissolution - Settlement of Accounts - Preparation of Realisation Account - Treatment of Unrecorded Assets and Liabilities

10

Students study how firms are dissolved and accounts settled. They learn to prepare Realisation Account, record disposal of assets, payment of liabilities, treatment of partners’ capital accounts, and settlement of cash/bank balances.

7. Accounting for Share Capital

- Features and Types of Shares - Issue of Shares (at par, premium, discount) - Forfeiture and Reissue of Shares - Accounting treatment as per Companies Act provisions

12

This unit introduces company accounts. Students learn how to issue shares, handle share applications, allotments, and calls, along with recording forfeiture and reissue of shares. The emphasis is on journal entries, ledger accounts, and preparation of balance sheet extracts.

8. Accounting for Debentures

- Issue of Debentures (at par, premium, discount) - Interest on Debentures - Redemption of Debentures (basic concepts)

8

Students study the issue of company debentures and the accounting treatment for interest payable. They are introduced to simple redemption methods. The unit links accounting with financial management concepts.

9. Financial Statement Analysis

- Meaning, Objectives, and Limitations - Comparative and Common-Size Statements - Ratio Analysis (Liquidity, Solvency, Activity, Profitability Ratios)

12

Students develop the skill to analyze and interpret financial statements of companies. They prepare comparative statements, common-size statements, and calculate key ratios like Current Ratio, Debt-Equity Ratio, Inventory Turnover, Net Profit Ratio, etc. Emphasis is on interpretation for decision-making.

10. Cash Flow Statement

- Meaning and Importance - Preparation as per Accounting Standard-3 (Revised) - Operating, Investing, and Financing Activities

8

Students learn how to prepare Cash Flow Statements showing inflows and outflows under three activities. The unit strengthens practical knowledge and analytical ability to understand liquidity and financial performance of companies.

11. Project Work (Internal Assessment)

- File work (Partnership/Company Accounts, Ratio Analysis, etc.) - Written Test - Viva-Voce

10

Internal assessment encourages students to apply their knowledge in real-life contexts. They prepare a project file based on practical questions from partnership accounts, company accounts, or ratio analysis. A viva session is conducted to assess clarity, presentation, and conceptual understanding.