CBSE Class 12 Accountancy NCERT Solutions 2022-23

VSAT 2022

Class 12 Accountancy NCERT Solutions

Class 12 is a defining moment for students studying any field. It brings with it the added stress and responsibility of scoring well to open different avenues of future education and career. It is also the year which would lead the students in the career and course of choice. Based on one’s interest, performance and desires, students can choose the stream of their choice in the coming future. In a way, it acts as a stepping stone in one’s future. 

This doesn’t mean that students must face this academic year with anxiety and fear, rather with the proper guidance and training, students can easily score good grades. Here, the amount of hard work matters but the amount of smart work matters more. Blind efforts of long, tedious hours in front of textbooks will not result in output if one does not understand or remember the concepts. Different subjects need to be approached differently. One cannot prepare for mathematics the same way one prepares for English. 

Similarly, Accountancy Class 12 is one such subject that requires special attention and methodology of preparation. Since it is a new subject, those who have opted for it would not have studied as a subject before the 11th grade. Getting used to the subject and its preparation is an important aspect of scoring well. 

Accountancy is a subject that deals with the systematic study of recording and classifying and also maintaining reports on every transaction, business or otherwise. This record maintenance is very valuable as it gives important feedback to the management with regard to the financial situation of the institute. One of the best ways to prepare for 2nd PUC Accountancy is through NCERT Class 12 Solutions. 

NCERT Accountancy book Class 12 Solutions are an incredible resource while preparing for CBSE Class 12 Accountancy exam. This examination material provides detailed information and solutions provided by the topic experts. NCERT Solutions for Class 12 Accountancy provide us with comprehensive information related to the chapter. Class 12 Accountancy study material is the simplest way for CBSE students to clear all doubts on the subject.

NCERT Solutions For Class 12 Accountancy PDF Download

The free Class 12 Accountancy NCERT Solutions PDF download will help you gain an insight into the subject. The topics covered in Accounts Class 12 NCERT Solutions are an important part of the syllabus. NCERT Solutions provide an easy outlook on the topic and helps students secure good marks in their exams. NCERT Solutions for Class 12 Accountancy can be found online for download in PDF form. It is easy to understand and will clarify all the doubts a student can have.

NCERT Solutions of Class 12 Accountancy

Over the centuries, bookkeeping has been protected and restricted to the financial record-keeping exercises of the bookkeeper. Nonetheless, the current day's exchange climate has constrained the bookkeepers to revise their portrayal and capacities, both the foundation and the affiliation. The part of a bookkeeper has now strayed from that of a minor endorser of exchanges to that of the delegate outfitting the relevant information to the dynamic group.

 

Bookkeeping today is more progressed than simply accounting and the arrangement and readiness of money related reports. Bookkeepers are currently capable enough of working in fine beginner development fields. For example, online business (planning electronic settlement conspire), monetary arranging, ecological bookkeeping, scientific bookkeeping (settling breaks, for example, PC hacking and the theft of an immense aggregate of cash on the internet) and so on. NCERT Solutions for Accountancy Class 12 by Vedantu gives a wide scope of learning.

 

The Balance Sheet shows the budgetary situation of the business. It records the benefits and liabilities of the business towards the finish of the bookkeeping time frame after the readiness of exchanging and benefit and misfortune accounts. Non-Profit Organizations configuration Balance Sheet decide the budgetary situation of the foundation. The readiness of the monetary record is a similar example as of the exchange substances. It portrays liabilities and resources at the end of a year. Resources are portrayed on the right-hand side, while the liabilities are portrayed on the left-hand side.

 

There will be a General Fund or Capital Fund instead of the Capital and the Satiate or Shortage according to Income and Expenditure A/c. It is either deducted from or added to the capital asset, depending on the situation. It is a typical practice to include a portion of the sponsored things like extra charges, heritages and life participation expenses correctly in the capital asset.

CBSE Class 12 Accountancy Solutions Weightage Marks

CBSE Class 12 Accountancy Term I Chapters with weightage - Practical Based


Part A: Accounting for Partnership Firms

Fundamentals of the Partnership firms

Change in the profit-sharing ratio in various cases


Admission of a new partner in the firm

18 Marks

Company of Accounts:


Accounts for shares of a company

12 marks


Part B: Analysis of the financial statement of the company

Financial statement of the company:

Statement of the profit and loss maintaining sheet.


Balance sheet maintenance with all the major headings and subheadings.

Accounting ratios

10 Marks


Or, 


Computerized Accounting 

  1. Overview of Computerized accounting

  2. Application of the electronic spreadsheet in Accounting

10 Marks 


Sub Total = 40 Marks


Project = 10 Marks


Total = 50 Marks

CBSE Class 12 Accountancy Term II Chapters with weightage - Theory-Based 

Part A - 

Accounting for Not-for-Profit Organizations 

10 Marks

Accounting for Partnership Firms


Retirement and death of a partner

Dissolution of a partnership firm

12 Marks

Company Accounts


Accounting for debentures

8 Marks


Part B -

Analysis of Financial Statement


Financial Statement of a Company 

Comparative And Common Size Statements


Cash flow Statement

10 Marks


Computer in Accounting - 10 Marks 


Sub Total = 40 Marks


Project Work Term II = 10 Marks 


Total = 50 Marks

Important Topics to Be Covered 

The Important topics covered should be considered on the basis of weightage of marks assigned for each topic. Some of the important topics that must be covered are as follows: 

  1. Fundamentals of the Partnership firms

  2. Company Accounts

  3. Accounting for Not-for-Profit Organizations 

  4. Accounting for Partnership Firms

  5. Analysis of Financial Statement


NCERT Class 12 Accountancy Part 1 and 2 Solutions contain a total of 100 marks in the final examinations.


The Topics Included in 12th Accountancy NCERT Solutions for Part 1 Are As Follows:

This unit deals with the basics of partnership, including concepts of business transactions and maintenance of accounts. 

 

The Following Topics Are Included in Part 2 of Class 12th Accounts NCERT Solutions:

This unit basically talks about what financial statements are and how to read them. It covers interesting avenues like what a statement means for a company, its objectives, and analysis. 

 

Benefits of NCERT Solutions For Class 12 Commerce Accounts

The benefits of NCERT 2nd PUC Accountancy are endless. The solutions will clear doubts of every candidate, and all prospective questions on these topics are answered here.

 

Vedantu’s solutions for Accountancy Class 12 are very useful as they guide the student into an easy learning pattern for this subject. The solutions have been prepared in a very beautiful manner by our experts from this field. One can be sure of the solutions considering that they are coming from reliable and verified resources. 

 

The answers also stay well within the guidelines mentioned by the NCERT board. With this, students can understand all the key points and concepts from this subject. 

 

Any doubt, one need not look and hunt for the correct answer. A quick look into Vedantu’s solutions for 2nd PUC Accountancy will clear all doubts in a minute. 

 

The comprehensive and systematic approach will make students understand the “why” and the “how” of Accountancy, which ultimately forms the base of the subject. With plenty of tabular columns and real-life examples to understand, there will be no problems in getting the hang of the subject.

 

The solutions have not only the theoretical questions answered but also the numerical problems solved for them. This gives an idea as to how they are solved.

 

The solutions are available free of cost on the website, and students can refer to them anytime, without any prior registration or payment. This negates any fear of tuition fees or the cost of books on the students.

 

These solutions can also be downloaded and saved for offline use. It can then be looked through in any convenient form, be it from a mobile,  tablet, laptop or even as printed notes.

 

NCERT Class 12 Accountancy solutions provide a clear insight into the chapters’ concepts. The easy to understand study material makes life easy for students. These are prepared with the sole objective of helping students gain the maximum marks in the exam. The solutions also contain practical examples of NCERT Class 12 Accountancy Part 1 and 2 questions so that the students can handle any problem without any difficulty. All probable topics that students may have to answer in their examination are covered in this pdf file solution to help them get more marks in the 12th Boards.

 

If you are looking for any additional support or training for Class 12 boards, head straight to the Vedantu website for all forms of study material and courses. You can also check out the mobile apps for these materials. So, what are you waiting for? Get ready to enjoy learning!

FAQs on CBSE Class 12 Accountancy NCERT Solutions 2022-23

1. What is Goodwill? Define Accounting for Goodwill.

Goodwill is an impalpable resource related to the acquisition of one organization by another. In particular, altruism is recorded in a circumstance in which the price tag is higher than the total of the reasonable estimation of all noticeable strong resources and impalpable resources. These resources are bought and the liabilities accepted simultaneously. The estimation of an organization's image name, strong client base, great client relations, great representative relations and any licenses or restrictive innovation speak to certain instances of altruism.


Goodwill emerges when an organization obtains another business. The honest assessment of the resources can be distinguished and the liabilities also get carried over due to purchases.

2. What is a Partnership and What is Partnership Deed?

A partnership is a sort of business where a conventional understanding between at least two individuals is made and consented to be the co-proprietors. They divide duties regarding running an association and offer the salary or misfortunes that the business produces. This type of association is archived in a report which is known as organization deeds. A partnership deed is an association and understanding between the accomplices of the firm which includes the terms and states of the association between the accomplices. The reason for an association deed is to give away from the functions of each accomplice which guarantees smooth running of the activities of the firm.

3. What are the topics covered in NCERT Class 12 Accountancy Part A?

The topics covered in NCERT Class 12 Accountancy Part A “Accounting for Non-profit Organizations, Partnership Firms and Companies” are :

  • Unit 1 - Financial statements of not-for-profit organizations

  • Unit 2 - Accounting for partnership firms

  • Unit 3 - Accounting for companies

These are the important topics covered in Part A. Students should familiarise themselves with all the terms given in these chapters thoroughly to understand the concepts and score good marks in the board exams.

4. What are the topics covered in NCERT Class 12 Accountancy Part B?

The topics covered in NCERT Class 12 Accountancy Part B are -

  • Accounting for share capital

  • Issue and redemption of debentures

  • Financial statements of a company

  • Accounting ratios

  • Cash flow statements

Both Part A and Part B of Class 12 NCERT Accountancy are important for students from the CBSE board exams point of view. Students must understand all the chapters well and revise the important concepts before the exam to score high in their board exams.

5. What is bookkeeping and how has it changed in recent times?

Bookkeeping has traditionally been restricted to financial bookkeeping exercises by the bookkeeper. However, as the exchange climate has changed, bookkeepers have now become capable of working in fine beginner development fields. Examples include online business, monetary arranging, ecological bookkeeping, scientific bookkeeping, PC hacking, etc. In today’s times, the role of a bookkeeper has changed from an endorser of exchanges to a delegate who equips the dynamic group with relevant information.

6. What is the topic-wise weightage of Class 12 NCERT Accountancy?

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

  • PART A - Accounting for Non-profit organizations - 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 - Eight marks

Students can prepare their study strategy by understanding the mark distribution of each chapter and focus more on units having more weightage.

7. What is the best solution book for Class 12 NCERT Accountancy?

Vedantu’s NCERT solutions are the best solution book for Class 12 NCERT Accountancy. There are many reasons why the solutions offered by Vedantu are considered the best :

  • The solutions are prepared by a group of subject experts with several years of expertise.

  • It offers concise and credible study resources free of cost which makes studies easier for students. This helps students in preparing efficiently for the Board exams.

  • Both long and short-form answers are given, which can help students in preparing how to write answers in the board exams.

  • The solutions are provided on the Vedantu Mobile app as well, making them accessible from anywhere.

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