West Bengal Board Accountancy Syllabus for Class 12

Standard: 12
Financial Accounts – Accountancy 

UNIT – 1 PARTNERSHIP ACCOUNTS

* Form of partnership firm – partnership Deed – Meaning and Impact.
* Special features of partnership final accounts : Fixed v/s fluctuating capital accounts,distribution of profit amongst partners.

UNIT – 2 RECONSTRUCTION OF PARTNERSHIP – (Changes in partnership)

* Charges in P. & L. ratio of existing partners – sacrifice ratio & Gain or benefit ratio.

* Revaluation of Assets & Liabilities, Distribution of accumulated profit & Reserves –
Goodwill – Factors affecting valuation of goodwill and methods of valuation of goodwill :Average Profit (Simple and weighted), Super Profit (only Explanation of concept of super profit), method of capitalising it (only Explanation), Accounting Treatment of Goodwill)

* Admission of a partner : Problems Arising on Admission of a partner, New Profit sharing ratio after Admission of a Partner – Sacrifice ratio, Entries for goodwill on Admission, accounting entries for revaluation of Assets and Liabilities, accounting entries for distribution of accumulated profits, Adjustment of capital Accounts.

* Retirement or Death of Partner : New profit-sharing ratio after retirement, Gain ratio,

Treatment of Goodwill on retirement, Accounting entries for revaluation of Assets & Liabilities, Distribution of Accumulated Profit or Reserve, Adjustments for Joint life Policy and Capital Accounts.
(Note : Examples of Retirement and Admission together is not included.)

UNIT – 3 DISSOLUTION OF PARTNERSHIP FIRM

* Meaning, mode of settlement of Accounts : Entries on Dissolution Realisation Account and Preparation of necessary accounts and also Profit & Loss in Realisation A/c. (Piecemeal Distribution,, sale to company & Insolvency of Partnership is not Included.)

UNIT – 4 SHARE CAPITAL TRANSACTION

* Share & Share Capital : Meaning and types.

* Accounting of Share Capital
Issue of Equity & Preference shares, its Allotment, Private placement and public subscription, over subscription and under subscription, to issue share, at par, at premium and at discount, calls received in advance, calls-in-arrears, issue of shares for consideration other than cash.

* Share forfeiture : Accounting entries, reissue of forfeited shares.

* Disclosure of share capital in company’s Balance sheet.

UNIT – 5 ACCOUNTING FOR DEBENTURES

* Issue of Debentures : Meaning of Debenture, Issue of debentures at par and at premium, issue of debentures for consideration other than cash, Debentures issued as collateral security.

* Redemption of Debenture : Meaning, consideration for Redemption of debentures,
(A) Repayment on a specified date
(i) Sinking Fund
(ii) Accumulated Profits. and
(iii) From Capital obtained through issue of new shares and debentures.

UNIT – 6 ANALYSIS OF FINANCIAL STATEMENTS

* Financial statement of company
- Structure of Balance Sheet : With only Main Headings.

* Analysis and interpretation of financial statement : Meaning, importance, objectives & Limitations.

* Methods used in analysis of financial statements
(a) Comparative Financial and Operating Statements,
(b) Common size statements

* Accounting Ratio : Meaning and objectives, types of ratios. Liquidity ratios Current ratio, Liquid ratio.
Solvency ratios Debt – Equity ratio total assets to debt, Proprietary ratio. (Debt – equity-ratio) Activity Ratios : Turnover ratio, Debtors Turnover, Creditors Turnover, working capital turnover ratio.

Profitability Ratios : Gross Profit ratio, Net profit ratio, operating ratio. (Note : only the calculation of the above ratios from given information is included.)

UNIT : 7 DESHI NAMA SYSTEM

* Different books : Rojmel, Bethomel, Peta Nondh – (Jama Nondh & Udhar Nondh),Preparation of Khatavahi.
* Utaro (Trial Balance)
* Havala mel or Achad mel
* Preparation of final accounts