Financial Statements of a Company - CBSE Notes for Class 12 Accountancy 1. Financial Statements The statements which are prepared to ascertain the profit earned or loss suffered and position of assets and liabilities at a particular date are known as financial statements. These are the final product of accounting process. A set of financial statements as per Section 2(40) of … [Read more...]
Accounting Ratios – CBSE Notes for Class 12 Accountancy
Accounting Ratios - CBSE Notes for Class 12 Accountancy Topic 1: Introduction 1. Ratio It is an arithmetical expression of relationship between two related or interdependent items. 2. Accounting Ratios It is a mathematical expression that shows the relationship between various items or groups of items shown in financial statements. When ratios are calculated on the basis of … [Read more...]
Accounting for Share Capital – CBSE Notes for Class 12 Accountancy
Accounting for Share Capital - CBSE Notes for Class 12 Accountancy Topic 1: Introduction 1. Company A joint stock company is an artificial person, created by law, having separate entity distinct from its members with a perpetual succession and a common seal. 2. Characteristics or Features of a Company (i) Artificial person (ii) Voluntary association (iii) Created by … [Read more...]
Analysis of Financial Statements – CBSE Notes for Class 12 Accountancy
Analysis of Financial Statements - CBSE Notes for Class 12 Accountancy CBSE NotesCBSE Notes AccountancyNCERT Solutions Accountancy Topic 1: Introduction to Financial Statements Analysis 1. Financial Statement Analysis It is the systematic numerical representation of the relationship of one financial fact with the other to measure the profitability, operational efficiency, … [Read more...]
Accounting for Partnership: Basic Concepts – CBSE Notes for Class 12 Accountancy
Accounting for Partnership: Basic Concepts - CBSE Notes for Class 12 Accountancy Any change in existing agreement of partnership amounts to reconstitution of a firm. As a result, the existing agreement comes to an end and a new agreement comes into existence and the firm continues. 1. Modes of Reconstitution of a Partnership Firm Reconstitution of a firm can take place in … [Read more...]