Class 12 Accountancy Notes, Sample Papers | Mock Tests

Accountancy, also referred to as Accounts, is the prime subject of the Commerce stream in the plus two or senior secondary level. Since different markets and economies are now well-connected ever since globalisation, it has changed the way organizations transact their business up to a great extent. This dynamic economic scenario makes accounting a source of financial information. All these values render accountancy a subject worth having a place in the senior secondary curriculum. Students who have chosen commerce as their stream may now get all the details related to Class 12 Accountancy on myCBSEguide, which has a record of furnishing quality study material to students for more than ten years. 

Complete Course for CBSE Class 12 Accountancy

Accountancy at the senior secondary stage introduces the learners to the world of business and emphasizes strengthening the fundamentals of the subject. MyCBSEguide app offers a complete course for Class 12 Accountancy which includes CBSE revision notes, and NCERT Solutions for all chapters in PDF format for free download. The content of senior secondary accountancy is so designed that it gives a firm foundation in basic accounting concepts and methodology to the students. It also acquaints them with the changes taking place in the preparation and presentation of financial statements. 

Our study material and products have been trusted by millions of teachers and students, which motivates us to endeavour harder to bring more such content to their platter. The subject-based CBSE course content available on myCBSEguide is well-equipped and updated. Our Class 12 Accountancy free resources include previous years' question papers, toppers' answer sheets, syllabi, and NCERT solutions. All these are available in PDF format for free download. Besides, we have some free introductory sample papers and mock tests as well.

To access Class 12 Accountancy study material log in to our student dashboard where you can find NCERT textbook solutions, chapter-wise revision notes, and test papers. We have also released the class 12 model paper for Accountancy for the year 2022-23. Board exam question papers with toppers' answer sheet and their solutions are a few other important resources that are available free of cost for the students.

Class 12 Accountancy Syllabus

The Accountancy course for senior secondary put emphasis on developing a basic understanding of accounting as an information system. Hence, the syllabus covers all the topics required for basic knowledge in this subject. Given below is the list of chapters for the current academic year of 2022-23. For a detailed analysis of the syllabus, you can check our blog on Class 12 Accountancy Syllabus 2022-23 

You can find everything related to a particular subject on our respective course page.

Class 12 Accountancy Revision Notes & NCERT Solutions

NCERT solutions are an important part of the CBSE course. These NCERT notes for Class 12 Accountancy are very helpful for the board examinations because they encompass all the important topics in a given chapter. The CBSE advises following NCERT books and so the students must follow the NCERT textbook as well as the solutions. These questions are revamped in accordance with the applicable accounting standards and the Companies Act and other new forms of taxes and laws. Class 12 Accountancy NCERT textbook solutions provided by myCBSEguide give students an advantage as they are updated and the solutions here are expert-verified.

Our Class 12 Accountancy Revision Notes are up to date as per the new curriculum issued by CBSE for this session. They have explanations with some really good practical questions along with their solutions having a different approach. These Accounts notes for class 12 can be downloaded in PDF format from the myCBSEguide website and mobile app for free. Here is the list of chapters whose Revision Notes are available here: 

Chapter Wise Revision Notes for Class 12 Accountancy

• Chapter – 1 Accounting for partnership firms fundamentals
• Chapter-2 Goodwill Nature And Valuation
• Chapter -3 Reconstitution of Partnership
• Chapter – 4 Admission of A Partner
• Chapter – 5 Retirement or Death of a partner
• Chapter – 6 Dissolution Of a Partnership Firm
• Chapter – 7 Accounting For Share Capital
• Chapter – 8 Accounting For Debentures
• Chapter – 9 Company Accounts – Redemption of Debentures
• Chapter – 10 Financial Statements Of A Company
• Chapter – 11 Financial statement analysis
• Chapter – 12 Tools for financial statement analysis
• Chapter – 13 Accounting Ratios
• Chapter – 14 Cash flow statement

Students can also check our Chapter Wise Extra Questions of Class 12 Accountancy, where they can find some important questions related to the specific chapters.

Sample Paper of Class 12 Accountancy 

Since the CBSE has already released its official sample paper for Class 12 Accountancy, our team at myCBSEguide has prepared 10 full-fledged sample papers with the same marking scheme. Our question bank has been used by thousands of teachers to generate question papers for class Accountancy with three different blueprints.

For class 12 examinees of the Commerce stream, Accountancy is the main subject among all other subjects like economics and business studies. It is sometimes considered to be the toughest of all other core subjects in the CBSE class 12 commerce stream. It is because it poses a lot of challenges to the students with its complex theories and principles. Students have to deal with some really tricky calculations on the balance sheet. 

Although it is difficult, but not impossible to ace the subject of Accountancy. Having student credibility, myCBSEguide can always be a guiding lamp for those who actually want to be achievers with their sheer hard work. Check out our Class 12 Sample Paper for Accountancy 2022-23, to get the details about it.

Test Papers & Mock Tests for Class 12 Accountancy

Students can also get chapter-based test papers for class 12 Accountancy on myCBSEguide. Our Chapter Wise Extra Questions of Class 12 Accountancy has chapter-wise the latest exam questions with complete solutions. These are a set of important questions from each and every chapter of the syllabus. You can find four to five sets of such question papers, or test papers. 

The Class 12 Accountancy mock test is an online test having 69 questions per paper comprising three PARTS – I and II. It is interesting for the students to take time-bound mock test . The Part - I of this test is a compulsory section for all candidates while Part - II is Analysis of Financial Statement which again contains two sections (A & B). There is an internal choice provided in each Sections. This is the current pattern of Class 12 Accountancy mock test, however, it is updated and refurbished every year depending on the requirement and changes in the syllabus and question paper pattern.

Class 12 Accountancy Case Study Questions

Case study questions are drawing special attention since the adoption new education policy of 2022. The reason being the primary focus of our policy-makers is to make education competency-based. To encourage analytical thinking and application of the acquired knowledge in a real-life situation, case-based questions have been introduced in all secondary and senior secondary subjects. In fact, such questions are being made for the elementary level as well.

The question bank provided by the CBSE has many questions on the new exam pattern. Likewise, it has also issued questions for CBSE Class 12 Accountancy, but it has a very limited number of Case Study Questions from each chapter. Students preparing for their board exams need brisk preparation. Therefore, they need more such case-based questions for accounts to practice. Since the CBSE question bank only has sample questions, students can get access to hundreds of case study questions for CBSE class 12 Accountancy and other subjects with the help of myCBSEguide app,  you can get every detail related to Class 12 Accountancy Case Study Questions here.

Accountancy Case Study Question: Sample

Yogadatra Ltd. (pharmaceutical company) appointed marketing expert, Mr. Kartikay as the CEO of the company, with a target to penetrate their roots in the rural regions. Mr. kartikay discussed the ways and means to achieve the target of the company with financial, production and marketing departmental heads and asked the finance manager to prepare the budget. After reviewing the suggestions given by all the departmental heads, the finance manager proposed the requirement of an additional fund of ₹52,50,000. Yogadatra Ltd. is a zero-debt company. To avail of the benefits of financial leverage, the finance manager proposed to include debt in the capital structure. After deliberations, on April 1, 2020, the board of directors had decided to issue 6% Debentures of ₹100 each to the public at a premium of 5%, redeemable after 5 years at ₹110 per share.

(i) Calculate the number of debentures to be issued to raise additional funds.

(ii) Pass Journal entry for the allotment of debentures.

(iii)Pass Journal entry to write off loss on issue of debentures.

(iv)Calculate the amount of annual fixed obligation associated with debentures.

(v) Prepare Loss on Issue of Debentures Account.

As an educational website or learning application, myCBSEguide has been feeding and communicating knowledge at genuine prices to those who value and need our content. Students who opt for the commerce stream at their plus two levels, dream to become successful CAs, CS, and CFAs. Accountancy being the basic or prime subject of this stream, they seriously need to pay special attention to the subject. It is always advisable to go for a dependable source if you want to be in a no-risk zone. Be wise and opt for myCBSEguide for Class 12 Accountancy study material.