Accountancy is the practice of recording, allocating and reporting on business transactions for a trade. It provides feedback to the management with reference to the financial outcome and status of an establishment. The procedure of recording and abridging financial transactions is termed as ‘bookkeeping’. When the information is produced in reports for the use of companies or individuals outside the firm, this process is called ‘financial accounting’.
It refers to the procedure of evaluating, summarising and communicating the financial data produced by bookkeeping to allocate and illustrate account information to relevant parties such as managers and shareholders.
NCERT solutions for class 12 accountancy comprises of 11 chapters which are further divided into 2 parts.
|Chapters||Name of the Chapter|
|NCERT Solutions For Class 12 Accountancy Part 1|
|Chapter 1||Financial Statements of Not-for-Profit Organizations|
|Chapter 2||Accounting for Partnership Firms – Basic Concepts|
|Chapter 3||Reconstitution Of A Partnership Firm – Admission Of A Partner|
|Chapter 4||Reconstitution Of A Partnership Firm – Retirement/Death Of A Partner|
|Chapter 5||Dissolution Of Partnership Firm|
|NCERT Solutions For Class 12 Accountancy Part 2|
|Chapter 1||Accounting for Share Capital|
|Chapter 2||Issue and Redemption of Debentures|
|Chapter 3||Financial Statements of a Company|
|Chapter 4||Analysis of Financial Statements|
|Chapter 5||Accounting Ratios|
|Chapter 6||Cash Flow Statement|
The above mentioned is the syllabus for class 12 CBSE syllabus Accountancy. For more solutions and study materials of NCERT solutions for class 12 Accountancy for more information and the best learning experience.