JAC 12th Syllabus 2025: Download JAC 12th Board Latest Syllabus PDF

Partnership: features, Partnership Deed.

• Provisions of the Indian Partnership Act 1932 in the absence of partnership deed.
  Fixed v/s fluctuating capital accounts. Preparation of Profit and Loss Appropriation account- division of profit among partners, guarantee of profits.
• Past adjustments (relating to interest on capital, interest on drawing, salary and profit sharing ratio).
  Goodwill: meaning, 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: meaning, factors affecting, need for valuation, methods for calculation (average profits,
  super profits and capitalization), adjusted through partners capital/ current account. Accounting for Partnership firms - Reconstitution and Dissolution.
• Change in the Profit Sharing Ratio among the existing partners - sacrificing ratio, gaining ratio, accounting for the revaluation of assets and reassessment of liabilities and treatment of reserves, accumulated profits and losses. 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 (as per AS 26), treatment for revaluation of assets and reassessment of liabilities, treatment of reserves, accumulated profits and losses.
• Note:
  (i) If the realized value of tangible assets is not given it should be considered as realized at book value itself.
  (ii) If the realized value of intangible assets is not given it should be considered as nil (zero value).
  (ii) In case, the realization expenses are borne by a partner, clear indication should be given regarding the payment thereof. 

• Features and types of companies.
• Share and share capital: nature and types
• Accounting for share capital: issue and allotment of equity and preferences shares. Public subscription of shares - over subscription and under subscription of shares; issue at par and at premium, calls in advance and arrears (excluding interest), issue of shares for consideration other than cash.
• Concept of Private Placement and Employee stock Option Plan (ESOP), Sweat Equity.
• Accounting treatment of forfeiture and reissue of shares.
• Disclosure of share capital in the Balance Sheet of a company. Accounting for Debentures
• Debentures: Meaning, types, Issue of debentures at par, at a premium and at a discount. Issue of debentures for consideration other than cash; Issue of debentures with terms of redemption; debentures as collateral security-concept, interest on debentures (concept of TDS is excluded). Writing off discount / loss on issue of debentures.

• Financial Statement Analysis: Meaning, Significance Objectives, importance and limitations.

• Tools for Financial Statement Analysis: Comparative statements, common size statements, Ratio analysis, Cash flow analysis.

• Accounting Ratios: Meaning, Objectives, Advantages, classification and computation.

• Liquidity Ratios: Current ratio and Quick ratio.

• Solvency Ratios: Debt to Equity Ratio, Total Asset to Debt Ratio, Proprietary Ratio and Interest Coverage Ratio. Debt to Capital Employed Ratio.

• Activity Ratios: Inventory Turnover Ratio, Trade Receivables Turnover Ratio, Trade Payables Turnover Ratio, Fixed Asset Turnover Ratio, Net Asset Turnover Ratio and Working Capital Turnover Ratio.

• Profitability Ratios: Gross Profit Ratio, Operating Ratio, Operating Profit Ratio, Net Profit Ratio and Return on Investment.