Together with®
Syllabus Changes for the Session 2022-23
(prepared by Rachna Sagar Pvt. Ltd.)
Class_12
Accountancy_12
Units Syllabus 2021-22 Changes in
Syllabus 2022-23
Unit 1: Financial • Not-for-profit organizations: concept. Deletion:
Statements of Not- • Receipts and Payments Account: features and preparation. Whole Unit
for-Profit • Income and Expenditure Account: features, preparation of income and deleted
Organizations expenditure account and balance sheet from the given receipts and payments
account with additional information.
Scope: (i) Adjustments in a question should not exceed 3 or 4 in number and
restricted to subscriptions, consumption of consumables and sale of assets/
old material.
(ii) Entrance/admission fees and general donations are to be treated as
revenue receipts.
(iii) Trading Account of incidental activities is not to be prepared.
Unit 2: Accounting • Partnership: features, Partnership Deed. Addition:
for Partnership • Provisions of the Indian Partnership Act 1932 in the absence of partnership Need for valuation
Firms deed. of goodwill
• Fixed v/s fluctuating capital accounts. Preparation of Profit and Loss Adjustment
Appropriation account- division of profit among partners, guarantee of through raising and
profits. writing off goodwill
• Past adjustments (relating to interest on capital, interest on drawing, salary
and profit sharing ratio).
• Goodwill: nature, factors affecting and methods of valuation - average
profit, super profit and capitalization.
Note:Interest on partner's loan is to be treated as a charge against profits.
Goodwill to be adjusted through partners capital/ current account.
Note:Raising and writing off goodwill is excluded.
Accounting for Partnership firms - Reconstitution and Dissolution.
• Change in the Profit Sharing Ratio among the existing partners - sacrificing
ratio, gaining ratio, accounting for revaluation of assets and reassessment of
liabilities and treatment of reserves and accumulated profits. Preparation of
revaluation account and balance sheet.
• Admission of a partner - effect of admission of a partner on change in the
profit sharing ratio, treatment of goodwill, treatment for revaluation of assets
and re- assessment of liabilities, treatment of reserves and accumulated
profits, adjustment of capital accounts and preparation of balance sheet.
• Retirement and death of a partner: effect of retirement / death of a partner
on change in profit sharing ratio, treatment of goodwill, treatment for
revaluation of assets and reassessment of liabilities, adjustment of
accumulated profits and reserves, adjustment of capital accounts and
preparation of balance sheet. Preparation of loan account of the retiring
partner.
1|Page
Syllabus Changes for the Session 2022-23
(prepared by Rachna Sagar Pvt. Ltd.)
Class_12
Accountancy_12
Units Syllabus 2021-22 Changes in
Syllabus 2022-23
Unit 1: Financial • Not-for-profit organizations: concept. Deletion:
Statements of Not- • Receipts and Payments Account: features and preparation. Whole Unit
for-Profit • Income and Expenditure Account: features, preparation of income and deleted
Organizations expenditure account and balance sheet from the given receipts and payments
account with additional information.
Scope: (i) Adjustments in a question should not exceed 3 or 4 in number and
restricted to subscriptions, consumption of consumables and sale of assets/
old material.
(ii) Entrance/admission fees and general donations are to be treated as
revenue receipts.
(iii) Trading Account of incidental activities is not to be prepared.
Unit 2: Accounting • Partnership: features, Partnership Deed. Addition:
for Partnership • Provisions of the Indian Partnership Act 1932 in the absence of partnership Need for valuation
Firms deed. of goodwill
• Fixed v/s fluctuating capital accounts. Preparation of Profit and Loss Adjustment
Appropriation account- division of profit among partners, guarantee of through raising and
profits. writing off goodwill
• Past adjustments (relating to interest on capital, interest on drawing, salary
and profit sharing ratio).
• Goodwill: nature, factors affecting and methods of valuation - average
profit, super profit and capitalization.
Note:Interest on partner's loan is to be treated as a charge against profits.
Goodwill to be adjusted through partners capital/ current account.
Note:Raising and writing off goodwill is excluded.
Accounting for Partnership firms - Reconstitution and Dissolution.
• Change in the Profit Sharing Ratio among the existing partners - sacrificing
ratio, gaining ratio, accounting for revaluation of assets and reassessment of
liabilities and treatment of reserves and accumulated profits. Preparation of
revaluation account and balance sheet.
• Admission of a partner - effect of admission of a partner on change in the
profit sharing ratio, treatment of goodwill, treatment for revaluation of assets
and re- assessment of liabilities, treatment of reserves and accumulated
profits, adjustment of capital accounts and preparation of balance sheet.
• Retirement and death of a partner: effect of retirement / death of a partner
on change in profit sharing ratio, treatment of goodwill, treatment for
revaluation of assets and reassessment of liabilities, adjustment of
accumulated profits and reserves, adjustment of capital accounts and
preparation of balance sheet. Preparation of loan account of the retiring
partner.
1|Page
