MSBSHSE Syllabus for Class 12 Bookkeeping and Accountancy: Chapters, Marks and Exam Pattern

Class 12 Bookkeeping and Accountancy Syllabus at a Glance

Bookkeeping and Accountancy in Class 12 is a single theory paper of 100 marks. Of these, 80 marks come from the written board exam and 20 marks from internal assessment or project work [verify]. The written paper is three hours long, and every question in it comes from the ten chapters listed below. There is no practical exam, so your entire score depends on how well you can prepare accounts and answer theory questions on paper.

The ten chapters, in order, are: Introduction to Partnership and Partnership Final Accounts; Accounts of 'Not for Profit' Concerns; Reconstitution of Partnership (Admission of a Partner); Reconstitution of Partnership (Retirement/Death of a Partner); Dissolution of Partnership Firm; Accounting for Share Capital; Issue of Debentures; Company Accounts: Redemption of Debentures; Analysis of Financial Statements; and Computer in Accounting.

Notice the structure the board has followed. Chapters 1 to 5 deal with partnership firms, chapters 6 to 8 deal with company accounts, and chapters 9 and 10 are theory-oriented. This grouping matters when you plan revision: the first eight chapters need regular practice with journal entries, ledger accounts and balance sheets, while the last two are mostly definitions, formats and explanation-based questions.

The syllabus is prescribed by the state board and is published in both English and Marathi medium. The chapter list and sub-topics are identical in both; only the language of the textbook and question paper changes. The syllabus given on this page is for the current academic year [verify]. Before you buy any guide or start a study plan, download the official board PDF and compare the chapter list with what is printed here, because the board sometimes issues corrections or circulars during the year [verify].

Once you have confirmed the chapter list, the next useful step is to see how marks are spread across these ten chapters, so you know where to spend the most time. For chapter-level practice, the Class 12 Bookkeeping and Accountancy chapter-wise solutions page follows the same order as the syllabus above.

Chapter-wise Syllabus with Sub-topics and Marks Weightage

The table below breaks each chapter into the sub-topics your textbook actually tests, and gives an approximate marks weightage for each. "Weightage" here means how many marks that chapter usually contributes to the 80-mark written paper. Use it to decide how much practice time each chapter deserves, not to skip chapters entirely, because the board can ask a small question from anywhere in the syllabus.

The weightage column is indicative and based on analysis of past board papers [verify]. Treat it as a guide to how many marks a chapter typically carries, not a guarantee. The board does not publish an official chapter-wise marks split, so always check the current year's paper pattern before you finalise your revision order [verify].

Look at where the marks sit. Chapters 1, 3, 4 and 6 together usually account for roughly 40 to 48 marks [verify], and every one of them is a full-length problem: you get a trial balance or a set of adjustments and must prepare final accounts, a Revaluation Account, or share capital ledger accounts. These are the chapters where a single arithmetic slip in the working notes can cost you 4 or 5 marks inside one question. Chapters 2 and 5 are also problem-based but slightly shorter, usually one main question each.

Chapters 7 and 8 are moderate: the journal entries are limited in number, but students lose marks by mixing up the order of entries for DRR and its investment, or by forgetting to transfer the discount on issue of debentures to the Statement of Profit and Loss. Chapter 9 needs formula recall plus one comparative or common size statement. Chapter 10 is almost entirely theory, and 4 to 6 marks here are the easiest on the paper if you have read the chapter once carefully.

A common mistake is treating Chapter 10 as unimportant because it is last in the book. Students who skip it lose easy marks that could have been secured in twenty minutes of reading. The fix is simple: finish Chapter 10 and Chapter 9 early in your revision, then spend the remaining weeks only on the problem chapters.

For a worked example of how these sub-topics appear in an actual question, see the Class 12 Bookkeeping and Accountancy chapter-wise solutions page, which follows the same chapter order as this table. Once you know which chapters carry the most marks, check the Maharashtra Board Class 12 Accountancy previous year question papers to see how often each chapter's problem has actually appeared.

Chapter 1: Introduction to Partnership and Partnership Final Accounts

A partnership is a business run by two or more people who share profits and losses as per an agreed ratio. The written agreement that records this is the partnership deed. When there is no deed, the default rules apply: profits and losses are shared equally, no interest on capital is allowed, and no salary is paid to any partner [verify]. The chapter also covers types of partners: active (working) partner, sleeping or dormant partner, nominal partner, partner by estoppel, and partner by holding out.

The new account you meet here is the Profit and Loss Appropriation Account. A normal P&L Account finds the net profit of the business. The Appropriation Account then shows how that net profit is distributed among the partners. It records interest on capital, interest on drawings, salary to a partner, and commission to a partner, and the balance left is the divisible profit transferred to partners' capital accounts. A common mistake is debiting partner's salary in the P&L Account instead of the Appropriation Account. The fix: if the item is between the firm and its partners only, it belongs in the Appropriation Account.

The final accounts of a partnership firm therefore have three parts: Trading Account, Profit and Loss Account, and Profit and Loss Appropriation Account, followed by the Balance Sheet. Adjustments usually tested are interest on capital, interest on drawings, partner's salary, and commission (often calculated as a percentage of profit before or after charging such commission). Practise full problems from the Class 12 Bookkeeping and Accountancy chapter-wise solutions page and then attempt the same chapter from the previous year question papers.

Chapter 2: Accounts of 'Not for Profit' Concerns

A not for profit concern is an organisation set up to serve a purpose, not to earn profit. Examples are a sports club, a hospital trust, a temple trust, or a cultural association. Any surplus it makes goes back into its activities, so it prepares different statements from a business: a Receipts and Payments Account and an Income and Expenditure Account, plus a Balance Sheet.

The Receipts and Payments Account is a summary of the cash book. Every receipt, whether capital or revenue, and every payment, whether capital or revenue, appears in it. The Income and Expenditure Account works like a P&L Account: it records only revenue items for the current year, on accrual basis, and its balance is a surplus or deficit.

To prepare the Income and Expenditure Account, classify each receipt and payment. Revenue receipts go to the income side, revenue payments to the expenditure side. Then pass adjustments: outstanding subscription is added to subscription income and shown as an asset; subscription received in advance is deducted and shown as a liability; depreciation on fixed assets is debited.

Common items and their treatment:

• Subscription: revenue income for the year, adjusted for outstanding and advance.
• Donation: general donation is income; a specific donation for a building or prize is capitalised.
• Legacy: a gift received under a will, treated as capital receipt.
• Entrance fees: usually treated as income [verify].
• Sale of old sports material: income, but the profit or loss on sale of an asset is shown separately.

The capital fund is the opening balance of the Balance Sheet, found as total assets minus total liabilities on the opening date. After the surplus or deficit is added or deducted, and capital receipts and payments are adjusted, the closing Balance Sheet is prepared. A frequent error is putting a capital receipt like legacy on the income side. The fix: ask whether the money is meant to be spent now or to build something lasting.

Chapter 3: Reconstitution of Partnership (Admission of a Partner)

Reconstitution means the partnership agreement changes without the firm closing down. When a new partner joins, the old agreement ends and a fresh one begins. A firm admits a partner for fresh capital, new skills, or a bigger share of the market. The new partner pays for two things: a share in the firm's assets and a share in its future profits.

Two ratios decide the money side. Suppose A and B share profits 3:2 and admit C for 1/5 share. C's share comes out of the old partners, so the new ratio is A 12/25, B 8/25, C 5/25 (old share × 4/5). The share each old partner gives up is the sacrifice ratio: A 3/25, B 2/25. Write the working clearly; most marks in this question are lost in the ratio step, not in the accounts.

Next, revalue the assets and liabilities at current values. Any increase in an asset or decrease in a liability is a gain; the reverse is a loss. This gain or loss goes to the Revaluation Account, and its balance is shared by the old partners in the old ratio only. A new partner never shares revaluation profit, because it arose before he joined.

Goodwill is the new partner's payment for the firm's reputation. As per AS 26, goodwill is recorded only when money is paid for it [verify]. In the usual exam question, the new partner brings his share of goodwill in cash, and it is credited to the old partners in the sacrifice ratio. Capitals are then adjusted so they match the new profit-sharing ratio, either by bringing in cash or by withdrawal.

Practise full-length admission problems from the chapter-wise solutions page, then time yourself on a past paper from the previous year question papers.

Chapter 4: Reconstitution of Partnership (Retirement/Death of a Partner)

Retirement and death change the firm in the same way: one partner leaves, the remaining partners continue. The accounts are almost identical, so learn them as one chapter. The only real difference is timing. A retiring partner leaves on a planned date; a deceased partner's account is settled up to the date of death, which can fall mid-year.

Start with the ratios. If A, B and C share 3:2:1 and B retires, the new ratio of A and C is their old shares rearranged: 3:1. The gaining ratio is what the continuing partners take from the outgoing partner, here A gains 2/6 and C gains 1/6. Then revalue assets and liabilities exactly as in admission: the Revaluation Account balance goes to all partners in the old ratio, because the retiring partner is still a partner when the revaluation happens.

Goodwill is credited to the retiring partner's capital account in his share, and the continuing partners bear it in the gaining ratio. His capital account is then closed by paying cash, transferring to a loan account, or both.

For a death, add the share of profit till the date of death. Use the previous year's profit or the average of the last few years, multiplied by the months or days he was alive in the year, then by his profit share. For example, average profit ₹60,000, death after 6 months, share 1/4: 60,000 × 6/12 × 1/4 = ₹7,500.

Prepare the final Balance Sheet with the continuing partners' adjusted capitals and the new liabilities, including any loan due to the outgoing partner. The commonest error is sharing revaluation profit in the new ratio. Fix it by writing "old ratio" above that working before you begin. Solve two full problems from the chapter-wise solutions page, then attempt one from the previous year question papers under exam time.

Chapter 5: Dissolution of Partnership Firm

Dissolution of partnership and dissolution of firm are not the same thing, and the board has asked this difference as a 2-mark question more than once. Dissolution of partnership means the business continues but the relationship between partners changes: a partner retires, a new one is admitted, or the profit-sharing ratio is altered. The firm survives. Dissolution of firm means the business itself ends, assets are sold, outsiders are paid, and whatever remains is divided among partners. Once the firm is dissolved, the partnership is automatically dissolved, but not the other way round.

There are four ways a firm can be dissolved. Compulsory dissolution happens by law, for example when all partners become insolvent or the business becomes unlawful. Voluntary dissolution happens with the consent of all partners. Dissolution by notice happens when the partnership is at will and one partner gives written notice to the others. Dissolution by agreement happens under a contract between the partners. Courts can also order dissolution, but the four types above are what the textbook stresses.

All the closing entries pass through the Realisation Account, which is a nominal account prepared only at dissolution. Debit it with all assets (except cash and bank) at book value, and credit it with all liabilities (except the partners' capital and loan accounts). When an asset is sold, credit Realisation Account with the sale price and debit cash. When a liability is paid, debit Realisation Account and credit cash. Any asset taken over by a partner is debited to his capital account at the agreed value. The balance left in the Realisation Account is the profit or loss on realisation, and it is shared by all partners in their profit-sharing ratio, not in the new ratio.

The order of settlement is fixed: first pay outside liabilities, then repay partners' loans, then return capital. If a partner's capital account shows a debit balance (he owes the firm) and he is insolvent, the loss is borne by the solvent partners in their capital ratio, which is the Rule in Garner vs. Murray [verify].

A common mistake is crediting the sale proceeds of an asset to the asset account instead of the Realisation Account, which double-counts the asset. Fix it by writing "Realisation A/c" at the top of every working before you start entries. Solve two full problems from the chapter-wise solutions page, then attempt one from the previous year question papers under exam time.

Chapter 6: Accounting for Share Capital

A company is owned by its shareholders, and the money they put in is called share capital. The textbook groups share capital under four headings you must be able to define in one line each. Authorised capital is the maximum a company can issue, as stated in its Memorandum of Association. Issued capital is the part of that offered to the public. Subscribed capital is what the public actually applied for. Called-up capital is the portion the company has demanded so far, and paid-up capital is called-up capital minus calls in arrears. If a company issues 10,000 shares of ₹10, calls ₹6, and one shareholder holding 200 shares fails to pay the final ₹4, called-up capital is ₹60,000 and paid-up capital is ₹59,200.

Shares are of two kinds. Equity shares carry voting rights and an uncertain dividend. Preference shares get a fixed rate of dividend and priority in repayment of capital, but usually no voting rights. Shares may be issued at par (face value), at a premium (above face value, with the extra amount credited to Securities Premium), or at a discount, which is allowed only in restricted cases under the Companies Act, 2013 [verify].

Two adjustments decide most of your marks. Calls in arrears is money demanded but not received; it is deducted from called-up capital and shown as a liability or contra item. Calls in advance is money received before it was demanded; it is a liability, not capital. Forfeiture happens when a shareholder keeps defaulting: debit his called-up amount, credit Share Capital with the amount actually received, credit Calls in Arrears with the unpaid amount, and the balance goes to Share Forfeiture Account.

The usual error is crediting the full call money to Share Capital when a call is unpaid. Fix it by checking that Share Capital always shows only the amount received. Practise forfeiture and reissue sums from the chapter-wise solutions page, then time yourself on one company accounts question from the previous year question papers.

Chapter 7: Issue of Debentures

A debenture is a written acknowledgement of a loan taken by a company. The debenture holder is a creditor, not an owner. This is the cleanest way to separate debentures from shares: a shareholder owns a slice of the company and gets dividend only when there is profit, while a debenture holder has lent money and must be paid interest at a fixed rate whether or not the company earns profit. Debentures are usually secured against the company's assets, and they carry no voting rights.

Issue follows the same three routes as shares. At par means issued at face value, so a ₹100 debenture is issued for ₹100. At premium means issued above face value, and the extra amount is credited to Securities Premium. At discount means issued below face value, and the discount is a capital loss, not a business expense. For example, 1,000 debentures of ₹100 each issued at ₹95 gives you Bank ₹95,000, Discount on Issue of Debentures ₹5,000, and 10% Debentures ₹1,00,000.

When debentures are issued as collateral security, the company does not receive cash for them. They are handed to a lender as extra cover for a loan. The standard treatment is a note in the balance sheet under the loan head, with no journal entry for the debenture amount; some textbooks pass a nominal entry, so follow the method your textbook shows [verify].

Interest on debentures is a charge against profit, debited to the Statement of Profit and Loss and paid net of TDS where applicable. Discount on issue is written off over the life of the debentures by debiting it to the Statement of Profit and Loss each year. The common error is treating this discount as an asset and leaving it on the balance sheet for years. Fix it by writing off the full amount within the debenture period. Practise these entries from the chapter-wise solutions page.

Chapter 8: Company Accounts: Redemption of Debentures

Redemption means paying back the debenture holders. A company that borrowed ₹5,00,000 through 10% debentures must return that money on the due date, and the chapter tests every route a company can take to do it. There are four methods: lump sum (pay the whole amount on one maturity date), draw of lots (redeem a fixed portion each year by lottery so the total is cleared in instalments), purchase in open market (buy your own debentures from the market when the price is favourable, then cancel them), and conversion into shares or new debentures (the holder is not paid cash but given shares instead).

To protect debenture holders, the company sets aside profit each year in a Debenture Redemption Reserve (DRR) before redemption begins. The reserve is created by debiting the Statement of Profit and Loss and crediting DRR, and the DRR is then invested in specified securities until redemption. The percentage of debentures that must go into DRR, and the rules on DRR investment, follow SEBI and Companies Act requirements that differ for listed and unlisted companies [verify], so use the figures your textbook prescribes.

A typical exam question gives you the balance of 12% Debentures, asks you to pass entries for DRR creation, DRR investment, redemption, and closing entries. Marks are split across the entries, so write each one with full narration. The common mistake is crediting the Debenture Redemption Reserve to the bank account; the correct entry is DRR A/c Dr. to Debenture Redemption Reserve Investment A/c when the investment is made. Practise these entries from the chapter-wise solutions page.

Chapter 9: Analysis of Financial Statements

Financial statement analysis means reading the Balance Sheet and Statement of Profit and Loss to judge how the business is doing: is it able to pay its bills, is it earning enough on sales, is it borrowing too much? The chapter gives you four tools for this. Comparative statements place two or three years' figures side by side and show the increase or decrease in absolute amount and in percentage. Common size statements convert every item into a percentage of one base, revenue from operations in the Statement of Profit and Loss and total assets in the Balance Sheet, so firms of different sizes can be compared. Trend analysis takes the first year as 100 and expresses later years as index numbers. Ratio analysis links two related figures as a simple division.

Learn these formulas by heart, because a single wrong base costs the whole sub-question:

• Current Ratio = Current Assets ÷ Current Liabilities
• Liquid (Quick) Ratio = Quick Assets ÷ Current Liabilities, where stock and prepaid expenses are removed from current assets
• Debt-Equity Ratio = Long-term Debt ÷ Shareholders' Funds
• Gross Profit Ratio = Gross Profit ÷ Revenue from Operations × 100
• Net Profit Ratio = Net Profit ÷ Revenue from Operations × 100

A typical question gives you two years' figures and asks for a comparative statement with change in rupees and change in percentage. Marks are split between correct headings, correct working, and the interpretation note. The usual mistake is dividing by the later year instead of the base year, so always write the base year figure in the denominator.

Limitations to remember: analysis uses past data, ignores price-level changes and qualitative factors such as staff skill or brand value, and window dressing of accounts can make the ratios look better than reality. Practise the format once, then attempt questions from the chapter-wise solutions page.

Chapter 10: Computer in Accounting

This is the shortest and most theory-based chapter in the paper, and it is where you can pick up marks quickly if you learn the definitions and lists properly. A computer system has four parts you should be able to name and describe: hardware (the physical machines such as the CPU, keyboard and printer), software (the programs that tell the hardware what to do), data (raw figures entered into the system) and users (the people who operate it). In accounting, the computer's role is to record transactions, post them to ledgers, compute totals and generate reports such as the Trial Balance and Balance Sheet without manual arithmetic.

An Accounting Information System (AIS) is the combination of people, procedures, data and software that collects, stores and processes accounting information and passes it to decision-makers. Textbooks usually classify it into manual and computerised systems, and further into batch processing (transactions collected and processed together at fixed intervals) and real-time processing (each transaction processed the moment it is entered).

Learn the advantages and limitations as two clean lists, because a common question asks for any four of each:

• Advantages: speed, accuracy, large-volume storage, instant reports, easy backup, and reduced clerical cost.
• Limitations: high setup and training cost, risk of data loss or hacking, dependence on power and trained staff, and the need for regular backups.

Finally, know the broad types of accounting software and one feature of each: readymade or off-the-shelf packages (cheap, ready to use, but hard to customise), customised software (built for a specific business), and enterprise resource planning (ERP) software that links accounts with sales, purchase and inventory. A typical 3 or 4 mark question asks you to "explain any two types of accounting software", so write the type, its feature and one example of where it suits. Practise these definitions alongside your numerical chapters, and use the chapter-wise solutions page to check your answers.

Marks Distribution and Exam Pattern

Bookkeeping and Accountancy is a 100-mark subject. Of this, 80 marks come from the written board paper and 20 marks from internal assessment or project work [verify]. Your final grade depends heavily on the written paper, so the paper pattern matters as much as the syllabus.

The written paper usually follows a fixed structure. Question 1 is objective, with sub-questions such as multiple choice, fill in the blanks, true or false, and matching pairs. Questions 2 to 5 are a mix of practical problems and theory [verify]. In practice, the problem-based questions come from the partnership and company accounts chapters, while the theory questions come from Analysis of Financial Statements and Computer in Accounting.

A common mistake is spending all the time on one long problem and leaving the objective section for the end. Fix this by attempting Q1 first, since it covers every chapter and takes little time, then moving to the problems you know best. Always check the official board paper pattern for the current year before your final revision [verify], and practise with previous year question papers so the format feels familiar.

English and Marathi Medium: Syllabus Availability

The Bookkeeping and Accountancy syllabus is published in both English and Marathi medium. The chapter list, sub-topics, and marks weightage are identical in both versions. Only the language of the textbook and the question paper changes. So a student writing the Marathi paper studies the same ten chapters, in the same order, as a student writing the English paper.

Choose your medium carefully and stick to it for the whole year. If you study from the English textbook, write your practice problems and answers in English, because the terms you use in the exam (for example, "Revaluation Account" or "sacrifice ratio") must match the paper's language. Marathi medium students should practise the same terms in Marathi so that they do not lose marks on terminology.

The official state board website provides the syllabus in both languages [verify]. Download the version that matches your medium, and check it against your printed textbook before you begin preparing.

How to Download the Official Syllabus PDF

The official syllabus is published on the state board website, mahahsscboard.in [verify]. Always keep a copy of this PDF on your phone or laptop. It is the final authority: if a guide book, a coaching class handout, or a website shows a different chapter list, the board PDF wins.

Follow these steps to download it:

1. Open mahahsscboard.in in your browser [verify].
2. Look for the "Syllabus" or "Students" section in the main menu [verify].
3. Select Class 12 (HSC), then choose Bookkeeping and Accountancy from the subject list.
4. Pick your medium, English or Marathi, and download the PDF.

Open the PDF and compare its chapter headings with your textbook's contents page. A quick five-minute check saves weeks of studying the wrong sub-topics. For example, if the PDF lists "Debenture Redemption Reserve" under redemption of debentures but your notes skip it, add it back before you revise that chapter.

Once you have confirmed the syllabus, move on to solving chapter-wise solutions and then attempt previous year question papers to see how each chapter is actually tested.

Study Plan and Preparation Strategy

Start with the two theory chapters, Computer in Accounting and Analysis of Financial Statements. They build vocabulary (Accounting Information System, current ratio, common size statement) that helps you read the rest of the book without slowing down. Once those are done, move to the problem-heavy chapters: Partnership Final Accounts, Admission, Retirement/Death, Dissolution, Share Capital, Debentures and Redemption.

Give the high-weightage chapters more time. Partnership Final Accounts, Admission, Retirement/Death and the two company accounts chapters together carry the bulk of the written paper [verify]. A rough split that works: four weeks for partnership and reconstitution, three weeks for company accounts, two weeks for the theory chapters, and the last two weeks for revision and full papers.

Practice counts more than reading here. Solve at least 10 to 15 problems per chapter from your textbook and workbook. Then attempt previous year question papers under a timer, because the board tests the same formats every year: a Revaluation Account, a Realisation Account, a Profit and Loss Appropriation Account, a Balance Sheet with adjustments.

Learn formats by writing them, not reading them. Draw the Revaluation Account and Realisation Account five times each from memory until the Dr and Cr sides come without thinking. A common mistake: students list the revaluation profit inside the Revaluation Account twice, once in the account and once in partners' capital accounts, and lose marks in the adjustment. The fix is to remember that the Revaluation Account is closed by transferring its balance to the partners' capital accounts in the old ratio.

Keep Sundays for revision and a weekly mock test. Solve one full paper in three hours, mark it honestly, and list the chapters where you lost marks. Fix those chapters in the following week instead of starting a new one. Use the chapter-wise solutions page to check your working step by step.

Frequently Asked Questions

How many chapters are there in Maharashtra Board Class 12 Bookkeeping and Accountancy?

Ten chapters. Six deal with partnership and company accounts, two with financial statement analysis and computers in accounting, and the rest cover the foundation topics of partnership and not-for-profit accounts.

What are the chapter names in the Class 12 Bookkeeping and Accountancy syllabus?

Introduction to Partnership and Partnership Final Accounts; Accounts of 'Not for Profit' Concerns; Admission of a Partner; Retirement/Death of a Partner; Dissolution of Partnership Firm; Accounting for Share Capital; Issue of Debentures; Redemption of Debentures; Analysis of Financial Statements; Computer in Accounting.

How many marks is Bookkeeping and Accountancy for in the Class 12 board exam?

The subject carries 100 marks: 80 for the written paper and 20 for internal assessment or project work [verify]. Only the 80-mark written paper decides your board score, so problem practice matters most.

Is the Class 12 Bookkeeping syllabus the same for English and Marathi medium?

Yes. The chapter list, sub-topics and marks weightage are identical. Only the language of the textbook and question paper changes, so study from the medium you will write your exam in.

Has the syllabus changed for this academic year?

Chapter names and structure have stayed broadly stable in recent years, but the board can revise sub-topics or weightage. Check the official PDF for your academic year before you plan [verify]. If a topic in your workbook is missing from the PDF, skip it.

Where can I download the official syllabus PDF?

From the state board website, under the Syllabus or Students section for Class 12 [verify]. The PDF is the final authority. For practice, use our Class 12 Bookkeeping and Accountancy chapter-wise solutions page and previous year question papers.