Accountancy in class 12 is one of the important subjects in the commerce stream. The CBSE board has released the syllabus for commerce-2023-2024. The class 12 accountancy syllabus covers many important concepts such as Income and Expenditure A/c, Receipt and Payment A/c, Balance Sheet and Accounting for Partnership. In this article, you will discuss details required for a comprehensive guide on Class 12 Accountancy Project.
CBSE Class 12 Accountancy Project guidelines 2023-24
Students should consider any one of the following for their Class 12 Accountancy project file:
Collect the source documents, and prepare vouchers, and transaction records with the help of vouchers.
Prepare a bank reconciliation statement with the help of the given cash book and the passbook that should contain from twenty to twenty-five transactions.
Comprehensive project of any sole proprietorship business. It may consist of the depiction of journal entries and their ledgering, trading and profit and loss account, preparation of trial balance, balance sheet, expenses, income and profit, assets, and liabilities in the form of a pie chart/bar diagram.
Marking scheme of CBSE class 12th Accountancy Project Work 2023-24
The marking scheme or the marks distribution for Accountancy Project Class 12 has been vividly divided for a fair result. The maximum mark for the project is 20 marks which includes only the essential topics a student should cover in a report file (viva included).
Below is the table of the marking scheme:
|1.||The relevance of the topic chosen||3|
|2.||Research Work and Data||6|
CBSE class 12 Accountancy Project Work Written Test Syllabus 2023-24
The scheduling of the project work is done by the respective school. The CBSE does not interfere in scheduling projects, tests and marks. The project written test includes the following chapters:
- Common size analysis,
- Ratio analysis,
- Cash flow analysis
- Comparative analysis
Consider the following books for preparing the accounts project class 12:
- Analysis of a financial statement by T.S Grewal,
- DK Goel and
- NCERT book: from NCERT books of class 12 of accountancy.
Chapter 4: Analysis of Financial Statements
Chapter 5: Accounting Ratios
- Chapter 6: Cash Flow Statement
Viva of Class 12th Accountancy Project 2023-24
In the CBSE curriculum, the final exam type is the Viva also known as the oral exam, which is scheduled by the school only in January.
In the Viva, the questions asked are mainly project related. This Viva aims to make sure that the students have developed in-depth knowledge and have a better understanding of the topic of their project.
Objectives of CBSE Class 12th Accountancy Project 2023-24
The objective of the account project class 12 is to help students in understanding the business situation and make use of the analysis tool based on the project’s topics.
It is also to prompt the skill required to read accounting data from quarterly, half-yearly or annual reports of business firms. The idea of the accountancy project for class 12 is also for interpreting the information based on the given guidelines.
CBSE Class 12 Accountancy Project Work Ideas 2023-24
As per the Central Board of Secondary Education guidelines, the accounts project class 12, students can make a project file on the following ideas:
Ratio analysis: It compares the line-item data from a company’s financial statements to reveal insights regarding profitability, liquidity, operational efficiency, and solvency.
Cash flow analysis: This is done to examine the cash inflows and outflows of a company or a business to determine the working capital of the company.
Segment analysis: In this, the operations of a company are broken into manageable pieces or segments.
Consider the following companies for Ratio analysis, Cash flow analysis and Segment analysis:
- Hindustan level (HLL)
- Indian Tobacco Company (ITC)
- Parle Agro-food
How to Prepare the Class 12 Accountancy Project 2023-24?
Follow the below mentioned CBSE guidelines before starting a project report:
- Take help from the respective teacher for different topic ideas. Projects can be prepared individually or in a group, however, each student must prepare his/her own individual project file.
- Keep these things in mind while choosing a particular topic:
- Make sure to choose the topic from the Class 12 Accountancy syllabus only.
- Before starting, discuss the topic with the respective teacher for required suggestions.
- Do not forget to prepare the topic before the viva.
- Do not copy the project file from other students. It should be different from other students, at least 40%.
- Avoid the long paragraphs or stories for an Accountancy project.
- Make sure that you do a thorough research on the topic for an easy execution of the project.
Q1. How to prepare for the Class 12 Accountancy Project?
Ans: For preparing the accountancy project, students can refer to the CBSE Class 12 Accountancy Project Guide (2023-24) for all material required for the project guidelines.
Q2. Can we get a Class 12 Accountancy Project Topic Idea from the NCERT Books?
Ans: The NCERT books are the best option for choosing the Accountancy Project Topic. However, students can get help from teachers and the internet for writing the project.
Q3. Is it compulsory to prepare for the CBSE Class 12 Accountancy Project?
Ans: It is compulsory for students to prepare for the CBSE Class 12 Accountancy Project as it contains a 20 marks project file.
Q4. How to prepare for Class 12 Accountancy Project Viva-Voice?
Ans: First and foremost, it is important for students to do a thorough research on their respective topics and write only the information relevant to their class 12 accountancy syllabus. Examiners tend to ask the questions related to the topic.
Q5. What are the important questions for Accounts VIVA?
Ans: Prepare the topic thoroughly that you have chosen as most of the questions are project or syllabus related only.