CBSE Class 12 Accountancy: formats, adjustments and PYQs

Accountancy rewards correct formats and careful adjustments. Here is what to focus on in each part of the Class 12 syllabus.

Paper Predict Notes · 23 May 2026

CBSE Class 12 Accountancy has an 80-mark paper and 20 internal marks. Most lost marks come from wrong formats and missed adjustments, not from not knowing the topic. Practice with the right formats fixes most of that.

This guide covers the Class 12 Accountancy important topics, the formats you must know and how to use PYQs. Check the latest CBSE syllabus for your year.

Partnership basics

Partnership deed provisions, interest on capital and drawings, profit and loss appropriation account, fixed and fluctuating capital accounts, past adjustments and guarantee of profit. Interest on drawings using the product method is a common question.

Admission

New profit-sharing ratio, sacrificing ratio, treatment of goodwill, revaluation account and capital adjustment. Admission questions often combine all of these into one long question.

Retirement and death

Gaining ratio, goodwill treatment, revaluation, the retiring partner's loan account and the deceased partner's executor's account. Calculating the deceased partner's share of profit till the date of death is asked most years.

Dissolution

Realisation account, partners' capital accounts and bank account. Keep track of which liabilities a partner takes over and which assets are taken by partners.

Company accounts

Issue of shares at par, premium and discount where allowed, forfeiture and reissue, and issue of debentures. Forfeiture and reissue entries, and the capital reserve transfer, are where students slip.

Financial statements analysis

Company balance sheet format as per Schedule III, comparative and common-size statements, accounting ratios and cash flow statement. Ratio questions are scoring if you remember the formulas. Cash flow statements need practice in classifying activities.

Formats

• Profit and loss appropriation account
• Revaluation account and partners' capital accounts
• Realisation account
• Company balance sheet (Schedule III)
• Cash flow statement (indirect method)

Draw each format from memory before a test.

Frequently asked questions

Which part of Accountancy is most scoring?

Ratios and journal entries for company accounts are quick marks if formats and formulas are correct.

How should I use PYQs?

Solve full questions chapter-wise, check against the marking scheme, and note every missed adjustment.

Do working notes earn marks?

Yes. Show working notes for ratios, goodwill and profit share.

The short version

Learn the formats until you can draw them blind, practise admission and retirement adjustments, master forfeiture and reissue, and show working notes in every answer.

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