ISC Class 12 Accounts Syllabus 2024-25 | PDF Download

Revised ISC Class 12 Accounts Syllabus 2024-25

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Most recently, CISCE, The Council for the Indian School Certificate Examinations has released the revised ISC Biology Syllabus for Class 12 for the academic session 2024-25. 

ISC Class 12 Accounts Subjects are important for students who want to pursue career in accounting, financial management, and entrepreneurship. The syllabus provides students with a thorough understanding of basic accounting concepts and procedures. Students also learn, accounting equations, and the documentation of financial transactions. including topics including trial balance, error correction, and financial statement preparation. 

The Class 12 ISC Accountancy syllabus, taken as a whole, gives students the tools they need to understand and interpret financial data successfully.

For Commerce students, both Class 12 ISC Accounts and Business Studies are important subjects. Students can prepare for it using the ISC Class 12 Accounts and ISC Class 12 Business Studies syllabus. 

Download the ISC Class XII Accounts Syllabus PDF for the 2024-25 session.

2024-25 Accounts Revised Syllabus 

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ISC Class 12 Accountancy Syllabus 2024-25

ISC  Class 12 Accounts Syllabus: Marking Scheme

Class 12 ISC  Accountancy Subject consists of two papers. subject:

Paper I - Theory: 3 hours (80 marks )

Paper II- Project Work (20 marks)

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ISC Accounts Syllabus Class 12: Paper I (Theory)

There will be one paper of 3 hours duration of 80 marks divided into three Sections A, B and C.

It will be compulsory for all candidates to attempt Section A. Candidates will have a choice of attempting questions either from Section B or Section C.

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ISC Class 12 Accounts Syllabus Class 12: Paper II (Project Work)

Candidates will be expected to have completed two projects from any topic covered in Theory.

The project work will be assessed by the teacher and a Visiting Examiner appointed locally and approved by CISCE.

Mark allocation for each Project [10 marks]:

A list of suggested Projects is given below:

1. Preparation of Journal / sub-division of journal, Ledger, Trial balance and Financial Statements of a partnership form of business on the basis of a case study.

• Develop a case study showing how two or more friends decide to come together and start a business with a certain amount of capital.
• Prepare their Partnership Deed including interest on capital, partner’s salary, commission, interest on drawings, interest on partner’s loan, and rent paid to a partner.
• Write in detail, their transactions during the year: purchases - cash and credit, sales - cash and credit, expenses, purchase of fixed assets and depreciation charged on them, any outstanding expenses, prepaid expenses, accrued income, drawing bills of exchange, accepting bills payable, etc.
• From this case study developed (which should have at least 15 transactions), pass the journal entries, post them into the ledger, prepare a Trial Balance and the Trading and Profit and Loss Account, Profit and Loss Appropriation Account, and Balance Sheet.
• The various expenses, for comparison purposes, could be depicted in the form of bar diagrams and pie charts.
• Calculate relevant accounting ratios like liquidity, solvency, activity, and profitability giving their formulae and computation (all this could be part of the viva voce).
• The ratios could also be shown graphically and/ or pictorially (bar diagrams and pie charts) and if possible, could be compared with the ratios of the industry.

2. Preparation of a Cash Flow Statement with the help of audited/unaudited/imaginary Balance Sheets of a company for two consecutive accounting years or two consecutive quarters of an accounting year could be taken along with at least five additional information (depreciation, purchase/ sale of fixed assets, dividend paid/ proposed, tax paid/ proposed, amortization of intangible assets, profit or loss on sale of fixed assets including provision for depreciation on them and profit or loss on sale of investment).

• The results of the operating, investing, and financing activities could be shown graphically and/ or pictorially (bar diagrams and pie charts).

3. Preparation of the Common Size and Comparative Income Statement and Balance Sheet of a company by taking into account its audited, unaudited/imaginary financial results of two consecutive quarters of an accounting year or of two consecutive accounting years.

• The comparison has to be made in the form of Common Size and Comparative Income Statement and Balance Sheet.
• The comparison could also be shown graphically and/ or pictorially (bar diagrams and pie charts).

4. Taking the audited/unaudited/imaginary financial results of any leading company, its liquidity, solvency, activity, and profitability ratios of two consecutive accounting years or of two consecutive quarters of an accounting year should be calculated and the comparison of the ratios of both the years or quarters should be shown graphically and/ or pictorially (bar diagrams and pie charts).

5. Employee Salary Sheet:

(i) Design a spreadsheet using the following fields:

• Employee’s Name: String Variable of maximum size of 40 characters
• Date of Joining: Date in English U.K. format
• Basic Salary: upto 2 places after decimal 
• Calculate their net salary using the Employee’s data. [Feed in random data for 20 to 25 employees]

Important Instructions:

• Dearness Allowance (DA) is paid @ 45% of Basic Salary.
• House Rent Allowance (HRA) is paid @ 15% of (Basic Salary + DA) 
• City Compensatory Allowance (CCA) is paid @ 8.3% of (Basic Salary + DA + HRA)
• Provident Fund (PF) is deducted @ 12% of (Basic Salary + DA) Income Tax (IT) is deducted @ 10% of (Basic Salary + DA + HRA + CCA). 
• Net Salary is summation of Basic Salary + DA+ HRA + CCA less PF and IT

(ii) Save your worksheet on the desktop as Employee_Salary.

(iii)Print a Hard Copy of your work and close the file.

6. Revenue and Commission Statement 

• Prepare a Spreadsheet for a certain Company, which pays a commission based upon books sold.
• Prepare a revenue and commission statement based upon the following information:

Assumption:

• Price of Hard Cover Books: @Rs. 34.45 per Book
• Price of Soft Cover Books: @ Rs. 22.05 per Book
• Commission on Hard Cover Books: 9.0%
• Commission on Soft Cover Books: 12%

Prepare a spreadsheet showing your calculation to determine:

(i) Revenue (Hard Cover Books and Soft Cover Books)

(ii) Total Revenue

(iii) Commission (Hard Cover Books and Soft Cover Books)

(iv) Total Commission

(v) Create a Chart (any style) showing the above information.

• Open the original page (with lines and shading) as well as a formula page. (The entire formula must been shown)
• Use “=round (.0)” where applicable so that all columns add correctly.

7. Spreadsheet on Outstanding Report

• Prepare and Present a Spreadsheet for a list of outstanding notes receivable each month. The information for a particular month is as follows:
• Use the following financial information:

• Show the Interest rate, Days outstanding, Interest earned, Late penalty, and Total due.
• Use appropriate Lines and Shading to make the report interesting and easy to read. Use two places after the decimals where appropriate.
• Prepare a chart to show the above information.

8. Database Management

(i) Create a Database with at least 10 records with each record having the following fields: Employees Details: PAN Number, Name, Address and Phone Number

(ii) Sort the names in alphabetical order.

(iii) The Employee database has another table called Loan Details that stores the details of loans taken by various employees. Create a query that gives a list of employees names along with loan details. The loan details table has following fields: Loan Amount, Loan Date, Interest Rate, Amount Paid and Amount Balance.

(iv) Create a Report as per the format given below: Employee Loan Details: Decide tables, relationships, etc. on your own.

9. Database Management:

(i) Create an Accounts Table by following the steps given below:

(a) Click on the new button and highlight Design View in the dialog box that appears.

(b) Click the OK button and the Table Design View will appear.

(c) Fill in the Field Name, Data Type, and Description for each column/field in the Account Table.

(ii) Define a Primary Key for the Accounts table. Click on the Account Number field with the right mouse button and choose Primary Key from the pop-up menu.

(iii)Save the new Accounts Table.

10. Selection Grade Card

(i) Make a Spreadsheet of a Selection Grading Chart using the following details:

Candidate’s Name  :   String type

       Test 1               :   Integer type

        Test 2              :   Integer type

        Test 3              :   Integer type

        Test 4              :   Integer type

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The Worksheet format is as follows:

(ii) Compute the percentage for each candidate’s total. Show the total score and the percentage for each candidate.

(iii) Create a Header for the Chart. Include your name.

(iv) Save your work on the desktop as Merit_Project.

(v) Print a hard copy of your work and close the file.

Download the recently revised ISC Class 12 Accountancy Syllabus 2024-25  and start early preparation for your board exam.