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2016

BOARD PAPERS

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CLASS XII

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ACCOUNTANCY

CBSE

SAMPLEPAPERSSAMPLESAMPLEPAPERSPAPERS

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Address Page.pmd 5/19/2016, 11:43 AM1

ACCOUNTANCYCLASS—XII (2016-17)

One Paper 3 Hours 80 Marks

Units Periods Marks

Part A: Accounting for Partnership Firms and Companies

Unit 1. Accounting for Partnership Firms 90 35

Unit 2. Accounting for Companies 60 25

150 60

Part B: Financial Statement Analysis

Unit 3. Analysis of Financial Statements 30 12

Unit 4. Cash Flow Statement 20 8

50 20

Part C: Project Work 40 20

Project work will include :

Project File 4 Marks

Written Test 12 Marks (One Hour)

Viva Voce 4 Marks

OR

Part B: Computerized Accounting

Unit 3. Computerized Accounting 50 20

Part C: Practical Work 26 20

Practical work will include :

Practical File 4 Marks

Practical Examination 12 Marks (One Hour)

Viva Voce 4 Marks

Accountancy Syallbus XII.pmd 7/25/2016, 5:19 PM1

PART A: ACCOUNTING FOR PARTNERSHIP FIRMS AND COMPANIES

60 Marks 150 Periods

Unit 1: Accounting for Partnership Firms 90 Periods

• 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 and Loss Appropriation account-division of profit among partners, guarantee of profits.

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

• Goodwill: nature, factors affecting and methods of valuation - average profit, super profitand 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, gainingratio, accounting for revaluation of assets and reassessment of liabilities and treatment ofreserves and accumulated profits. Preparation of revaluation account and balance sheet.

• Admission of a partner - effect of admission of a partner on change in the profit sharingratio, treatment of goodwill (as per As 26), treatment for revaluation of assets andreassessment of liabilities, treatment of reserves and accumulated profits, adjustment ofcapital accounts and preparation of balance sheet.

• Retirement and death of a partner: effect of retirement / death of a partner on change inprofit sharing ratio, treatment of goodwill (as per As 26), treatment for revaluation ofassets and reassessment of liabilities, adjustment of accumulated profits and reserves,adjustment of capital accounts and preparation of balance sheet. Preparation of loan accountof the retiring partner.

Calculation of deceased partner’s share of profit till the date of death. Preparation ofdeceased 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 partnersand cash/bank A/c (excluding piecemeal distribution, sale to a company and insolvencyof partner(s))

Note:

(i) The realized value of each asset must be given at the time of dissolution.

(ii) In case, the realization expenses are borne by a partner, clear indication should be given regardingthe payment thereof.

Unit 2: Accounting for Companies 60 Periods

Accounting for Share Capital

• Share and share capital: nature and types.

• Accounting for share capital: issue and allotment of equity shares, private placement of

Accountancy Syallbus XII.pmd 7/25/2016, 5:19 PM2

shares, Employee Stock Option Plan (ESOP). Public subscription of shares - over subscriptionand under subscription of shares; issue at par and at premium, calls in advance and arrears(excluding interest), issue of shares for consideration other than cash.

• Concept of Private Placement.

• 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 debenturesfor consideration other than cash; Issue of debentures with terms of redemption; debenturesas collateral security-concept, interest on debentures.

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

Note: Related sections of the Indian Companies Act, 2013 will apply.

PART B: FINANCIAL STATEMENT ANALYSIS 20 Marks

Unit 3: Analysis of Financial Statements 30 Periods

• Financial statements of a company: Statement of Profit and Loss and Balance Sheet in theprescribed form with major headings and sub headings (as per schedule III to the CompaniesAct, 2013).

Scope: Exceptional items, extraordinary items and profit (loss) from discontinued operationsare excluded.

• Financial Statement Analysis: Objectives, importance and limitations.

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

• Accounting Ratios: Objectives, classification and computation.

Liquidity Ratios: Current ratio and quick ratio.

Solvency Ratios: Debt to Equity Ratio, Total Asset to Debt Ratio, Proprietary Ratio and InterestCoverage Ratio.

Activity Ratios: Inventory Turnover Ratio, Trade Receivables Turnover Ratio, Trade PayablesTurnover Ratio and Working Capital Turnover Ratio.

Profitability Ratios: Gross Profit Ratio, Operating Ratio, Operating Profit Ratio, Net ProfitRatio and Return on Investment.

Unit 4: Cash Flow Statement

• Meaning, objectives and preparation (as per AS 3 Revised) (Indirect Method only)

Scope:

(i) Adjustments relating to depreciation and amortization, profit or loss on sale of assets includinginvestments, dividend (both final and interim) and tax.

(ii) Bank overdraft and cash credit to be treated as short term borrowings.

(iii) Current Investments to be taken as marketable securities unless otherwise specified.

Accountancy Syallbus XII.pmd 7/25/2016, 5:19 PM3

PROJECT WORK 20 Marks 40 Periods

• Kindly refer to the Guidelines published by the CBSE.OR

PART B: COMPUTERISED ACCOUNTING 20 Marks 60 Periods

Unit 3: Computerised Accounting

Overview of Computerised Accounting System

• Introduction: Application in Accounting

• Features of Computerised Accounting System

• Structure of CAS

• Software Packages: Generic; Specific; Tailored.

Accounting Application of Electronic Spreadsheet.

Concept of electronic spreadsheet.

Features offered by electronic spreadsheet.

Application in generating accounting information - bank reconciliation statement; assetaccounting; loan repayment of loan schedule, ratio analysis.

Data representation - graphs, charts and diagrams.

Using Computerized Accounting System.

Steps in installation of CAS, codification and hierarchy of account heads, creation of accounts.

Data : Entry, validation and verification.

Adjusting entries, preparation of balance sheet, profit and los account with closing entriesand opening entries. Need and security features of the system.

Database Management System (DBMS)

Concept and Features of DBMS.

DBMS in Business Application.

Generating Accounting Information - Payroll.

PART C: PRACTICAL WORK 20 Marks 26 Periods

Please refer to the guidelines published by CBSE.

Accountancy Syallbus XII.pmd 7/25/2016, 5:19 PM4

Accountancy Code No. 055 Class-XII

Time: 3 Hours Max. Marks : 80

S. Typology of Questions No.

1. Remembering-(Knowledge basedSimple recall questions, to knowspecific facts, terms, concepts,principles, or theories, Identify,define, or recite, information).

2. Understanding-(Comprehension–to be familiar with meaningand to understand conceptually,interpret, compare, contrast,explain, paraphrase, or interpretinformation).

3. Application (Use abstractinformation in concrete situation,to apply knowledge to newsituations. Use given content tointerpret a situation, provide anexample, or solve a problem).

4. Higher Order ThinkingSkills (Analysis & Synthesis-Classify, compare, contrast, ordifferentiate between differentpieces of information, Organizeand/or integrate unique pieces ofinformation).

5. Evaluation (Appraise, judge, and/or justify the value or worth of adecision or outcome, or to predictoutcomes based on values).

Total

VeryShort

Answer(1 Mark)

3

2

-

2

1

8×1 = 8

ShortAnswer-I(3 Marks)

1

-

2

-

1

4×3 = 12

ShortAnswer-II(4 Marks)

1

2

2

-

-

LongAnswer

I (6Marks)

1

1

1

1

1

4×6 = 24

LongAnswer

II(8 Marks)

–

1

-

1

–

2×8= 16

Marks

16

24

20

16

09

80(23)+20

(Project)

%

20%

30%

25%

20%

11%

100%

QUESTION PAPER DESIGN 2016-17

(v)

5×4 = 20

Scheme of options: All questions carrying 8 marks will hav an internal choice.

Note: The Board has introduced Learning Outcomes in the syllabus to motivate students to constantly explore all levelsof learning. However these are only indicative. These do not in any any way restrict the scope of question asked inthe examinations. The examination questions will be strictly based on the prescribed question paper design andsyllabus,

Accountancy Syallbus XII.pmd 7/25/2016, 5:19 PM5

CONTENTS

� CBSE Question Papers, 2016 Delhi (Solved) 1–28

� CBSE Question Papers, 2016 Outside Delhi (Solved) 29–58

� CBSE Question Papers, 2015 Delhi (Solved) 1–34

� CBSE Question Papers, 2015 Outside Delhi (Solved) 35–66

� CBSE Sample Question Paper (Solved) S-1–S-21(Based on the latest guidelines issued by C.B.S.E.)

IMPORTANT EXAMINATION STYLE QUESTIONS (SOLVED)

Part–A PARTNERSHIP FIRMS AND COMPANY ACCOUNTS 1–292

1. Partnership–Introduction and Valuation of Goodwill 2–39

2. Reconstitution of Partnership–Admission of Partner 40–95

3. Partnership–Retirement and Death of a Partner 96–152

4. Partnership–Dissolution of a Firm 153–196

5. Company Accounts–Accounting for Share Capital 197–252

6. Accounting for Debentures (I) Issue of Debentures 253–274

7. Accounting for Debentures (II) Redemption of Debentures 275–292

Part–B ANALYSIS OF FINANCIAL STATEMENTS 293-384

8. Financial Statements of a Company–Balance Sheet 294–303

9. Analysis of Financial Statements 304–307

10. Tools for Financial Analysis–Comparative Statements and

Common Size Statements 308–318

11. Accounting Ratios 319–354

12. Statement of Changes in Financial Position–Cash Flow Statement 355–384

� Value Based Questions 385–391

� Project Report 392–393

� Model Question Papers for Practice

Model Question Paper – 1 M-1–M-6

Model Question Paper – 2 M-7–M-12

Model Question Paper – 3 M-13–M-18

Content page.pmd 7/25/2016, 5:20 PM1

CLASS—XII (Delhi)

ACCOUNTANCY

SET—I

[Time Allowed: 3 Hours] [Maximum Marks: 80]

General Instructions:

(i) This question paper contains two parts A and B.

(ii) Part A is compulsory for all.

(iii) Part B has two Options - I Analysis of Financial Statement and Option-II

Computerized Accounting.

(iv) Attempt only one option of part B.

(v) All parts of a questions should be attempted at one place.

PART—A

Accounting for Partnership Firms and Companies

Q. 1. What is the maximum number of partners that a partnership firm can have? Namethe Act that provides for the maximum number of partners in a partnership firm.

1Ans. (i) Maximum number of partners = 50.

(ii) The companies Act 2013.

Q. 2. A, B and C were partners in a firm sharing profits in the ratio of 3 : 2 : 1. Theyadmitted D as a new partner for 1/8th share in the profits, which he acquired 1/16th

form B and 1/16th form C.

Calculate the new profit sharing ratio of A, B, C and D. 1

Ans. A’s share =3

06

− = 3

6

B’s share = −2 1

6 16 =

−16 3

48 =

13

48

C’s share =1 1

6 16− =

8 3

48

− =

5

48

D’s share =1

8

New Ratio =3

6 :

13

48:

5

48 :

1

8i.e., 24 : 13 : 5 : 6

C.B.S.E. QUESTION PAPERS–2016 (SOLVED)

1

2. CBSE Question Paper 2016 Solved (Delhi) Acc. XII.pmd 7/25/2016, 11:59 AM1

MBD Sure Shot CBSE Sample PapersSolved Class 12 Accountancy 2017

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