Updated On : April 3, 2023
Central Board of Secondary Education (CBSE) and The Indian Certificate of Secondary Education (ICSE) board follow different patterns for Accounts Class 12 Board exam. But tips for accountancy class 12 board exam remains quite similar for preparation of both the board exams.
In this article following topics are discussed to give a strategic plan for preparing for Class 12 Board exams:
Both the ICSE and CBSE boards conduct one theory paper and a practical examination for Accounts subject with a weightage of 80 and 20 marks respectively.
Time allowance for theory exam is of 3 hours and for practical examination, the one-hour time duration is permitted.
CBSE Board and ICSE board exam pattern are slightly different. In CBSE boards, each section carries the similar types of questions based on the unit-wise weightage of each unit. CBSE does not have any certain limits on choices provided among questions.
|Part A||Accounting for Not-for-Profit Organizations, Partnership Firms and Companies|
|Unit 1. Financial Statements of Not-for-Profit Organizations||10|
|Unit 2. Accounting for Partnership Firms||20|
|Unit 3. Accounting for Companies||30|
|Part B||Financial Statement Analysis|
|Unit 4. Analysis of Financial Statements||12|
|Unit 5. Cash Flow Statement||08|
|Part C||Project Work||20|
|Project work will include:|
|Part B||Computerized Accounting|
|Unit 4. Computerized Accounting||20|
|Part C||Practical Work||20|
|Practical Work will include:|
In ICSE boards, Section A is the top priority section in the complete syllabus. As there are no choices available in this section. The only option available for ICSE board students is between section C and section B. Students are given the choice to choose any one section from section C and section B and attempt any two out of three questions from the preferred section.
|Section A||Part I: short answer questions, testing knowledge, application and skills relating to elementary/fundamental aspects of the entire syllabus.||40|
|Part II: Candidates will be required to answer four questions out of seven from this part.||20|
|Section B||Two questions out of three questions (10 marks each) are required to be attempted if this is the preferred section||20|
|Section C||Two questions out of three questions (10 marks each) are required to be attempted if this is the preferred section||20|
|Section D||Practical Work||20|
|Practical Work will include|
Sample papers along with their solutions and marking scheme is available on the official website of CBSE (www.cbse.nic.in) as well as on ICSE boards www.cisce.org. Some of the subject expert’s recommended questions along with their answers and marking scheme is discussed below, to get an overview of the question paper of the revised syllabus and how to answer them according to the marking scheme.
Que1: Which of the following items is not dealt through Profit and Loss Appropriation Account? Mark: 1
Ans: a. Interest on Partner’s Loan
Que2: Sports Star Charitable club has income of ` 16,000 and ‘deficit’ debited to capital fund of ` 4,300 for the year 2019- 20, then expenditure for the year 2019-20 is: Mark: 1
Ans: c. 20,300
Que3: From the following information, calculate the amount to be charged to Income and Expenditure Account for 'Sports material consumed' for the year 2019-20. Mark: 3
|Stock of Sports material (01-04-2019)||60000|
|Amount paid to creditors (during 2019-20)||3,00,000|
|Creditors for Sports Materials (01-04-2019)||1,00,000|
|Creditors for Sports Materials (31-03-2020)||80000|
|Sports Material sold During the year (Book Value Rs.35,000)||15000|
|Cash Purchases of Sports Material (During the Year 2019-20)||1,30,000|
There was zero stock at the end of the financial year 2019-20. Ans: Dr. Creditors for Sports Materials A/c Cr.
|To Bank/Cash A/c
To Balance C/d
|By Balance b/d By Vendors (Credit purchase of sports material)||100000
Table for calculation of Sports Material Consumed:
|Credit Purchase of Sports Material Add: Cash Purchase of Sports material Add: Stock of Sports material (01-04-2019) Less: Book Value Of sports material sold during the year
Sports material consumed during the year (Amount t/f to Income and Expenditure account)
|280000 130000 60000 (35000)|
*Calculation of Sports material consumed by alternative methods should be accepted.
Que4: Explain ‘Sequential’ and ‘Mnemonic’ codes.
Ans: Sequential codes
These are the codes in which code numbers and/or letters are assigned in a consecutive order. These codes are applied primarily to source documents such as cheques, invoices etc. This facilitates document searches. This process enables either identification of missing codes (numbers) relating to a particular document or to trace a relevant document on the basis of the codes.
These codes consist of alphabets or abbreviations as symbols to codify a piece of information. SJ for sales journal, HQ for Headquarters are examples of mnemonic codes.
The fact of studying hard only gives fruitful results when it is planned strategically. The following few tips for the accountancy class 12 board exam must be kept in consideration while planning for the main exams.
Frequently Asked Questions
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