DK Goel Solutions: Class 12 Accountancy

Class 12 Accountancy Syllabus

Have a look at the important topics according to various units of the Class 12 Accountancy syllabus.

1. Financial Statement for Not-for-Profit organizations

• Non-Profit Organizations

• Income and Expenditure Account

• Payment and Receipts Account

2. Accounting for Partnership Firms

• Partnership

• Indian Partnership Act of 1932 and its Provisions

• Fixed and Fluctuating Capital Accounts

• Profit and Loss Appropriation Account

• Nature and Valuation of Goodwill

• Reconstitution of Firms

• Dissolution of Firms

3. Accounting for Companies

• Shares

• Share Capital

• Employment Stock Option Plan (ESOP) and Private Placement

• Forfeiture and re-issue of Company Shares

• Accounting for Debentures

• Issues of Debentures

4. Analysis of Financial Statements

• Accounting Ratios

• Tools required for Financial Statement Analysis

• Liquidity Ratio

• Profitability Ratio

• Activity Ratio

• Solvency Ratio

5. Cash Flow Statement

• Meaning of Cash Flow Statement

• Drafting and Objectives of Cash Flow Statement

Class 12 students will also have 20 marks assigned for project work in Accountancy. 

Purpose of Class 12 Accountancy Syllabus

The following are the primary objectives of the class 12 Accountancy syllabus.

• Introducing students to newer concepts in financial statement preparation

• Briefing students on basic accounting methods, concepts, and topics

• Imbibe designing skills required for certain accounting database

• Making students understand the role and importance of ICT (Information and Communications Technology) in accounting

• Detailing the accounting ways for partnership firms

• Explaining business records, transactions, and financial statements

Class 12th Accountancy DK Goel solutions have been drafted with the very same objectives. Regular practice of these solutions will ensure that you get maximum marks in exams.

Chapters in DK Goel Accountancy Class 12 Solutions

DK Goel Accountancy solutions for class 12 come in two volumes. While Volume 1 has five chapters, Volume 2 has six chapters. Have a look at what the Volume 1 chapters contain:

1. Financial Statements of non-profit organizations

There are many business organizations that work towards generating some kind of profit. However, there are certain business organizations that work only to provide service and don’t pay much attention to the profits. These types of business organizations are known as non-profit organizations. For such organizations, there are three types of financial statements that need to be made. These include Payments and Receipts accounts, Expenditure and Income accounts, and Balance Sheets. Students can download the solved questions of this topic through DK Goel Solutions provided by Vedantu.

2. Accounting for Partnership Firms – Fundamentals

Partnership firms are such companies where two or more partners share the profit and liabilities. The accounting ratios are pre-decided by the partners while finalizing an agreement. In the very first chapter of class 12th Accounts DK Goel solutions, students see how profit and loss accounts are managed in partnership firms. There are 4 sums in this chapter.

3. Change in Profit-Sharing Ratio among the Existing Partners

The ratio at which the business profit is distributed among various partners might change from time to time. There might be several reasons behind this. In this chapter of DK Goel class 12 solutions 2024-25, you learn how to calculate average profit, sacrifice ratio, goodwill, gaining ratio, etc.

4. Admission of a Partner

At some point in a business, it might require the admission of new partners. Due to a new partner’s entry, corresponding changes have to be made in the existing partner’s shares. The third chapter in Account class 12 solutions DK Goel explains this concept.

5. Retirement or Death of a Partner

Changes in profit shares and business accounts also occur when there is death or retirement of a partner. Refer to Chapter 4 of class 12 Accountancy DK Goel solution to understand how it is executed.

6. Dissolution of a Partnership Firm

When a company dissolves or quits business, its partners owe certain benefits. Chapter 5 is dedicated to the accounting methods required when a business firm dissolves.

7. Accounting for Share Capital

Share refers to the part ownership of a business organization or company. It is considered to be an asset as it helps to create profits in the company. Students can refer to Class 12 Accountancy DK Goel Solution to understand this topic further.

8. Accounting Issues of Debenture

Issue of Debenture in an organization is a debt instrument issued to investors of the company to increase the capital. Students can learn more about this concept through content available on Vedantu.

Brief on Volume 2 Chapters of DK Goel Accountancy Class 12

1. Financial Statements of Companies

The first chapter in Volume 2 teaches how to draft the balance sheet of companies so that the financial statement can be drawn from it. This chapter includes solutions to four exercise questions.

2. Financial Statement Analysis

After drawing the financial statement of a company, one is supposed to analyze it in detail. This is done to assess how the business has been performing. Chapter 2 in DK Goel solutions class 12 is a textual chapter. It includes objectives, uses, and methods of financial statement analysis.

3. Tools for Financial Analysis: Comparative Statements

This chapter details how comparative balance sheets are to be drafted. This is done to tally and compare various financial statements of a company.

4. Common Size Statements

Common size statements are such statements that fix a common base and then express all the items in a financial statement with reference to that chosen base.

5. Accounting Ratios

Here you learn a great deal about all the accounting ratios like current liability, current ratio, quick ratio, and so on.

6. Cash Flow statement

This is one of the most crucial chapters in the Class 12 accountancy syllabus. Refer to the 6th chapter in the solutions of Accountancy class 12 DK Goel to understand the function, drafting, and study of cash flow statements.

To help cut down your board exam blues, the solution of DK Goel class 12 2024-25 is now available for free online. Students can easily download and refer to the PDF.

Class 12 Accountancy Important Chapters

There are a total of 11 chapters available in the class 12 Accountancy syllabus. All the chapters in the syllabus are equally important for students to learn and understand to score well. Students who go through the previous year’s question papers can notice that there are many repeated questions based on certain topics. A few of these topics include:

• Partnership: This is one of the most scoring topics in class 12 Accountancy. Hence, students need to make it a habit of practicing questions related to this topic to score well.

• Financial Statement: Chapters related to Financial Statements are equally important to learn and understand. The weightage of this topic is comparatively high in the class 12 accountancy syllabus. Hence, students must put an equal amount of stress on this topic as well.

• Company Accounts: This topic is one of the most important topics that students need to know in the class 12 Accountancy syllabus. Every year students can notice many questions being asked from this topic. Hence, students should get a strong grip on this topic to score more marks during the exams.

How to Prepare for Class 12 Accountancy?

The subject of Accountancy has many theories and concepts that students need to understand. Class 12 Accountancy is divided into two volumes, the first volume consists of 5 chapters whereas the second volume consists of 6 chapters. Hence, students need to thoroughly learn and understand all the chapters available in the syllabus. Given below are a few tricks and tips for students to prepare for their class 12 Accountancy exam:

• Note All Important Theories: Every chapter in the syllabus has many important illustrations, definitions, applications, diagrams, and relevant real-life examples. Students need to study all these theories to create a strong foundation on all the concepts before starting to solve the problems.

• Solve as Many Problems as Possible Per Chapter: After thoroughly understanding all the important topics and concepts, students need to move on to solve as many questions as they can per chapter. Students must start solving questions starting from the easy ones and gradually moving up to other complex questions. Once students start working on solving these questions, they will be exposed to new concepts that they can use in their application-based questions during exams.

• Follow a Particular Study Material: Students need to choose their study materials wisely to do well in their class 12 Accountancy exam. With the help of DK Goel Solutions, students will get the best study guidance they need to do well in their exams. These solutions are structured and framed in a way that will help students to understand the syllabus thoroughly. These solutions are written by subject experts in a detailed manner.

• Keep Practicing: DK Goel Solutions has many important questions at the end of all the chapters that students need to solve. All the questions available in the book will help students prepare for their exams thoroughly.
  

Other Related Links

• CBSE Syllabus for Class 12 Accountancy Term (1 & 2) 2024-25

• NCERT Book for Class 12 Accountancy PDF

• NCERT Solutions for Class 12 Accountancy Part 1 and Part 2

• Previous Year Question Paper for CBSE Class 12 Accountancy with Solutions

• CBSE Sample Papers 2024-25 for Class 12 Accountancy with Solution & Marking Scheme
  

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