Class 12 Accountancy CBSE Notes - 2025-26

Accountancy Notes for Class 12 - FREE PDF Download

In Cbse Class 12 Accountancy Notes, you’ll find simple explanations of all important topics like financial statements, partnership accounts, company accounts, and more. These notes are made to help you easily understand even the tricky parts of your Class 12 Accountancy syllabus. Whenever you feel stuck or confused, Vedantu’s notes break things down into easy bits so your doubts become clear.

Staying organised is much easier with these short summaries and key points. You can use these notes during quick revisions, or as a guide when you’re practising questions or preparing for exams. Learning this subject becomes less stressful and a lot more manageable with our Class 12 Accountancy Revision Notes.

This subject is known to appear in major sections of the CBSE board exams. So, revising these chapters well can really help boost your overall marks and give you confidence during your final preparations.

Overview of Accountancy Part- I (Partnership Accounts) and Part-II (Company Accounts and Financial Statement Analysis) Notes

The CBSE Class 12 Accountancy Notes provide a detailed understanding of Partnership Accounts and Company Accounts, designed to simplify complex accounting concepts. These notes include practical examples and clear explanations, equipping students with essential skills for exams and beyond.

Accountancy Part-I: Partnership Accounts

Basic Concepts: Understand types of partners, profit-sharing ratios, and the preparation of capital and current accounts.
Reconstitution of Partnership: Learn the accounting for admission, retirement, and death of partners, including asset revaluation and goodwill treatment.
Dissolution of Partnership: Study the settlement of debts, asset sales, and distribution of balances during the firm’s dissolution.

Accountancy Part-II: Company Accounts and Analysis of Financial Statement

Accounting for Share Capital: Learn share issuance at par, premium, and discount, and understand capital accounts (authorised, issued, paid-up).
Issue and Redemption of Debentures: Cover debenture issuance, redemption methods (lump sum, instalments, market purchases), and treatment of discounts/premiums.
Financial Statements: Learn how to prepare balance sheets and profit & loss accounts as per the Companies Act, including adjustments for depreciation and provisions.
Analysis of Financial Statements: Study tools for analyzing financial statements (trend, vertical, horizontal analysis) and interpreting financial ratios.
Cash Flow Statements: Understand the classification of cash flows into operating, investing, and financing activities, and learn how to prepare cash flow statements using the indirect method.

Benefits of Vedantu’s CBSE Class 12 Accountancy Notes

The notes provide detailed explanations of all important concepts, making complex topics easier to understand.
Written in clear and concise language, the notes are tailored to help students grasp key points quickly.
Each chapter is thoroughly broken down into smaller, manageable sections, making it easier to study and retain.
Vedantu's notes are supplemented with diagrams, tables, and examples to enhance understanding.
With key concepts, formulas, and summary points, these notes save valuable study time and help with quick revisions.
Students can download and access the notes in PDF format at their convenience, making learning more flexible.
Prepared by subject matter experts, these notes focus on all critical areas of the syllabus, ensuring no important topic is missed.

Conclusion

Vedantu’s CBSE Class 12 Accountancy notes are a valuable resource for students aiming to excel in their exams. With comprehensive coverage, expert explanations, and a user-friendly format, these notes simplify complex topics, boost understanding, and save study time. They serve as an excellent revision tool, helping students stay organised and focused on key concepts and making exam preparation more efficient and effective. By using these notes, students can enhance their confidence and performance in the Class 12 Accountancy exams.

Additional Study Materials for Class 12 Accountancy

S. No	Study Material for Class 12 Accountancy
1.	CBSE Class 12 Accountancy NCERT Books
2.	CBSE Class 12 Accountancy Important Questions
3.	CBSE Class 12 Accountancy Sample Papers
4.	CBSE Class 12 Accountancy NCERT Solutions
5.	CBSE Class 12 Accountancy PYQPs

FAQs on Class 12 Accountancy CBSE Notes - 2025-26

1. What are the major parts of the Class 12 Accountancy syllabus that revision notes should cover?

Revision notes for Class 12 Accountancy, as per the CBSE 2025-26 syllabus, should provide a quick summary of two main parts: Part A, which covers Accounting for Partnership Firms and Companies, and Part B, which focuses on Financial Statement Analysis, including the Cash Flow Statement.

2. How do revision notes summarise the key adjustments needed for the Reconstitution of a Partnership Firm?

Revision notes effectively summarise the key adjustments for a partnership's reconstitution by breaking down the process into clear steps. This includes recapping calculations for the sacrificing ratio, gaining ratio, accounting treatment of goodwill, revaluation of assets and liabilities, and adjustment of accumulated profits and losses.

3. What are the essential concepts to recap from the 'Accounting for Share Capital' chapter using revision notes?

When revising 'Accounting for Share Capital', focus on the summary of key concepts like types of share capital, issue of shares at par and premium, and the accounting entries for forfeiture and re-issue of shares. Good revision notes will provide concise formats for journal entries and the balance sheet presentation.

4. How do revision notes help connect the concepts of Share Capital and Debentures, and what is the core difference to remember during a quick review?

Revision notes help by placing these two concepts side-by-side, highlighting that both are methods of raising capital. The core difference to remember is that Share Capital represents ownership funds (equity), while Debentures represent borrowed funds (debt). This distinction is crucial for understanding a company's capital structure during quick revision.

5. What are the main components of Financial Statements of a Company that revision notes help clarify for the 2025-26 board exam?

For the 2025-26 exams, revision notes clarify the structure and major headings of the financial statements as per Schedule III of the Companies Act, 2013. They provide a quick recap of the format for the Balance Sheet and the Statement of Profit and Loss, making it easier to memorise the specific line items.

6. Beyond just formulas, how can revision notes improve my understanding of Ratio Analysis for interpreting a company's performance?

While formulas are important, good revision notes improve understanding by explaining the 'why' behind each ratio. They categorise ratios into groups (e.g., Liquidity, Solvency, Profitability) and summarise what each ratio signifies about a company's financial health, helping you move from mere calculation to meaningful interpretation and analysis.

7. What is the most effective way to revise the structure of a Cash Flow Statement using summary notes?

The most effective way is to use notes that visually break down the statement into its three core activities: Operating, Investing, and Financing. A quick revision should focus on classifying common transactions under these heads and understanding the key non-cash adjustments required when using the indirect method for operating activities.

8. Why is it important to revise theory and practical problems together for Class 12 Accountancy, and how do revision notes facilitate this?

Revising theory and practicals together is vital because strong theoretical knowledge underpins the correct application of accounting rules in problems. Revision notes facilitate this by providing concise theoretical explanations right alongside the formats and formulas for practical sums. This ensures you understand the logic behind the steps you are performing.

9. What are some key terms in 'Dissolution of Partnership' that revision notes should clearly define for last-minute revision?

For a quick revision of 'Dissolution of Partnership', notes should clearly define terms such as Dissolution of Partnership vs. Dissolution of Firm, the purpose of the Realisation Account, treatment of unrecorded assets and liabilities, and the order of settlement of accounts upon closure of the firm.

10. What common misconceptions about Goodwill valuation should a student specifically look to clarify while using revision notes?

A common misconception is confusing the different valuation methods. Revision notes should help clarify the specific scenarios for using the Average Profit Method, Super Profit Method, and Capitalisation Method. Another point to clarify is the difference between purchased goodwill and self-generated goodwill, and why only the former is recorded in the books.