Chapter-Wise NCERT Solutions for class 12 Accountancy
Class 12 Accountancy Solutions
NCERT Solutions for class 12 Accountancy is prepared by the teachers of HT and verified by a group of panel subject matter experts to provide you with errorless solutions to all the questions asked in the NCERT textbook. All the questions asked in the NCERT textbook exercise are solved with detailed explanations and problems are solved with step-by-step explanations to give students a detailed idea about the concept. While solving the questions students must try the questions by themselves and don’t jump into the solutions, NCERT Solutions for class 12 Accountancy are uploaded for reference purposes only.
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How to score good marks with NCERT Solutions for class 12 Accountancy
To score good marks in CBSE Class 12 Board specifically in the accountancy subject one must be well-planned and do hard work. Work on your fundamentals and makes your notes carefully. Do the following tips to score good marks in class 12 Accountancy.
Start your subject early- Once you move to class 12 in March start your preparation from day 1 don’t waste your time. Try to create a short timetable and plan your subject concerning the days you have. There are 11 chapters in class 12 Accountancy, and you have almost 9 months to complete these 11 chapters so plan well and try to complete your subject before October.
Class attendance- Always attend your class 12 Accountancy in school and tuition and try to ask your all doubts which are arises while reading the chapter. Make sure you are noting down the important point in the class and revise these points timely. Use the NCERT textbook in the preparation of the notes and solve all the questions given in the NCERT textbook with the help of NCERT solutions for class 12 Accountancy.
The focus of Numerical- Numerical are a key factor in class 12 Accountancy, do solve all the numerals asked in the NCERT textbook exercise by yourself and take the help of HT NCERT solutions for class 12 Accountancy. Still, if you are not confident do solve additional questions for class 12 Accountancy provided in the additional questions sections of HT or solve important questions for class 12 Accountancy.
CBSE Class 12 Accountancy Weightage 2023-24
Part A Accounting for Partnership Firms and Companies
Unit 1. Accounting for Partnership Firms (Marks-36)
Unit 2. Accounting for Companies (Marks-24)
Part B Financial Statement Analysis
Unit 3. Analysis of Financial Statements (Marks-12)
Unit 4. Cash Flow Statement (Marks-8)
Part C Project Work
Project File (Marks-4)
Written Test (Marks-12)
Viva Voice (Marks-2)
Frequently Asked Questions on Chapter-Wise NCERT Solutions for class 12 Accountancy
. What are the significances of Financial Analysis in class 12 Accountancy?
Financial analysis is the process of identifying the financial strengths and weaknesses of the firm by properly establishing relationships between the various items of the balance sheet and the profit and loss account.
Significance of Financial Analysis for different users:-
Finance manager:- Financial analysis focuses on the facts and relationships related to managerial performance, corporate efficiency, financial strengths and weakness and credit worthiness of the company.
Top Management:- The importance of financial analysis is not limited to the finance manager alone. Its scope of importance is quite broad and includes top management in general and the other functional managers. Management of the firm would be interested in every aspect of the financial analysis.
Trade creditors:- A trade creditor, through an analysis of the financial statement, appraises not only the urgent ability of the company to meet its obligations but also judges the probability of its continued ability to meet all its financial obligations in future.
Lenders:- Suppliers of long-term debt are concerned with the firm’s long-term solvency and survival. They analyse the firm’s probability over time, its ability to generate cash to pay interest and repay the principal and the relationship between various sources of funds.
Investors:- who have invested their money in the firm’s shares are interested in the firm’s earnings. As such, they concentrate on the analysis of the firm’s present and future profitability.
Labour unions:- Labour unions analyse the financial statements to assess whether they can presently afford a wage increase and whether they can absorb a wage increase through increased productivity or by raising the prices.
Others:- Economists, researchers, etc. analyse the financial statements to study the present business and economic conditions. Government agencies need it for price regulations, taxation and other similar purposes.
. What are the most important chapters of class 12 Accountancy?
Top score good marks in class 12 Accountancy one must revise all the 11 chapters but a few topics need more attention and are important too such as Fundamentals of the Partnership firms, Company Accounts, Accounting for Not-for-Profit Organizations, Accounting for Partnership Firms, Analysis of Financial Statement.
. What are the tools of Financial Analysis?
Tools of Financial analysis:
Comparative Statements:- These are the statements showing the profitability and financial position of a firm for different periods in a comparatively form to give an idea about the position of two or more periods.
Common Size Statements:- These are the statements which indicate the relationship of different items of a financial statement with some common item by expressing each item as a percentage of the common item.
Trend Analysis:- It is a technique of studying the operational results and financial position over a series of years. Using the previous years’ data of a business enterprise, trend analysis can be done to observe the percentage changes over time in the selected data.
Ratio Analysis:- It describes the significant relationship which exists between various items of a balance sheet and a profit and loss account of a firm.
Cash Flow Analysis:- It refers to the analysis of the actual movement of cash into and out of an organisation.
. Explain Common Size Statement.
It is also known as a component percentage statement is a financial tool for studying the key changes and trends in the financial position and operational result of a company. Hence each item in the statement is stated as a percentage of the aggregate, of which that item is a part.
It is used for comparing enterprises which differ substantially in size as it provides insight into the structure of financial statements. Inter-firm comparison of the company’s position with the related industry as a whole is possible with the help of common size statement analysis.