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Conduct of Classes

● On board explanation with notes
● Make Concept clear with practical examples
● Interactive class sessions
● Home work / Assignment at the end of the class
● Home work / Assignment check in the next class
● Quick recap of previous class in the next class
● Two tests per month/subject on Saturdays
● Class duration 1 Hr/sub alternate days (3Hrs./wk)
● Extra classes provided when needed

Classes Schedule 2024-25

Commerce Students Class XI-XII

Note: Class Tests will be conducted on Saturday in extra hours

Syllabus & Marks Weightage [ Accounts ]

Syllabus & Marks Weightage [ Economics ]

Syllabus & Marks Weightage [ Business ]

Detailed Syllabus [ Accounts ] XII

Part A: Accounting for Partnership Firms and Companies

Unit 1: Accounting for Partnership Firms

• 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 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 re- assessment of liabilities, treatment of reserves, accumulated profits and losses, adjustment of capital accounts and preparation of capital, current account and balance sheet.
• Retirement and death of a partner: effect of retirement / death of a partner on change in profit sharing ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and reassessment of liabilities, adjustment of accumulated profits, losses and reserves, adjustment of capital accounts and preparation of capital, current account and balance sheet. Preparation of loan account of the retiring partner.
• Calculation of deceased partner’s share of profit till the date of death. Preparation of deceased partner’s capital account and his executor’s account.
• Dissolution of a partnership firm: meaning of dissolution of partnership and partnership firm, types of dissolution of a firm. Settlement of accounts - preparation of realization account, and other related accounts: capital accounts of partners and cash/bank a/c (excluding piecemeal distribution, sale to a company and insolvency of partner(s)).

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.

After going through this Unit, the students will be able to:
• state the meaning of partnership, partnership firm and partnership deed.
• describe the characteristic features of partnership and the contents of partnership deed.
• discuss the significance of provision of Partnership Act in the absence of partnership deed.
• differentiate between fixed and fluctuating capital, outline the process and develop the understanding and skill of preparation of Profit and Loss Appropriation Account.
• develop the understanding and skill of preparation profit and loss appropriation account involving guarantee of profits.
• develop the understanding and skill of making past adjustments.
• state the meaning, nature and factors affecting goodwill
• develop the understanding and skill of valuation of goodwill using different methods.
• state the meaning of sacrificing ratio, gaining ratio and the change in profit sharing ratio among existing partners.
• develop the understanding of accounting treatment of revaluation assets and reassessment of liabilities and treatment of reserves and accumulated profits by preparing revaluation account and balance sheet.
• explain the effect of change in profit sharing ratio on admission of a new partner.
• develop the understanding and skill of treatment of goodwill as per AS-26, treatment of revaluation of assets and re-assessment of liabilities, treatment of reserves and accumulated profits, adjustment of capital accounts and preparation of capital, current account and balance sheet of the new firm.
• explain the effect of retirement / death of a partner on change in profit sharing ratio.
• develop the understanding of accounting treatment of goodwill, revaluation of assets and re-assessment of liabilities and adjustment of accumulated profits, losses and reserves on retirement / death of a partner and capital adjustment.
• develop the skill of calculation of deceased partner's share till the time of his death and prepare deceased partner's and executor's account.
• discuss the preparation of the capital accounts of the remaining partners and the balance sheet of the firm after retirement / death of a partner.
• understand the situations under which a partnership firm can be dissolved.
• develop the understanding of preparation of realization account and other related accounts.

Unit-2 Accounting for Companies

Accounting for Share Capital
• 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 re-issue 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.

Note:
Discount or loss on issue of debentures to be written off in the year debentures are allotted from Security Premium Reserve (if it exists) and then from Statement of Profit and Loss as Financial Cost (AS 16)

After going through this Unit, the students will be able to:
• state the meaning of share and share capital and differentiate between equity shares and preference shares and different types of share capital.
• understand the meaning of private placement of shares and Employee Stock Option Plan.
• explain the accounting treatment of share capital transactions regarding issue of shares.
• develop the understanding of accounting treatment of forfeiture and re-issue of forfeited shares.
• describe the presentation of share capital in the balance sheet of the company as per schedule III part I of the Companies Act 2013.
• explain the accounting treatment of different categories of transactions related to issue of debentures.
• develop the understanding and skill of writing of discount / loss on issue of debentures.
• understand the concept of collateral security and its presentation in balance sheet.
• develop the skill of calculating interest on debentures and its accounting treatment.
• state the meaning of redemption of debentures.

Part B: Financial Statement Analysis

Unit 3: Analysis of Financial Statements

Financial statements of a Company:
Meaning, Nature, Uses and importance of financial Statement.
Statement of Profit and Loss and Balance Sheet in prescribed form with major headings and sub headings (as per Schedule III to the Companies Act, 2013)

Note:
Exceptional items, extraordinary items and profit (loss) from discontinued operations are excluded.

• 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.

After going through this Unit, the students will be able to:
• develop the understanding of major headings and sub-headings (as per Schedule III to the Companies Act, 2013) of balance sheet as per the prescribed norms / formats.
• state the meaning, objectives and limitations of financial statement analysis.
• discuss the meaning of different tools of 'financial statements analysis'.
• develop the skill of preparation of preparation of comparative and common size statement, understand their uses and difference between the two.
• state the meaning, objectives and significance of different types of ratios.
• develop the understanding of computation of current ratio and quick ratio.
• develop the skill of computation of debt equity ratio, total asset to debt ratio, proprietary ratio and interest coverage ratio.
• develop the skill of computation of inventory turnover ratio, trade receivables and trade payables ratio and working capital turnover ratio and others.
• develop the skill of computation of gross profit ratio, operating ratio, operating profit ratio, net profit ratio and return on investment.

Note:
Net Profit Ratio is to be calculated on the basis of profit before and after tax.

Unit 4: Cash Flow Statement

•Meaning, objectives Benefits, Cash and Cash Equivalents, Classification of Activities and preparation (as per AS 3 (Revised) (Indirect Method only)

Note:
(i) Adjustments relating to depreciation and amortization, profit or loss on sale of assets including investments, dividend (both final and interim) and tax.
(ii) Bank overdraft and cash credit to be treated as short term borrowings.
(iii) Current Investments to be taken as Marketable securities unless otherwise specified.

After going through this Unit, the students will be able to:
• state the meaning and objectives of cash flow statement.
• develop the understanding of preparation of Cash Flow Statement using indirect method as per AS 3 with given adjustments

Note:
Previous years’ Proposed Dividend to be given effect, as prescribed in AS-4, Events occurring after the Balance Sheet date. Current years’ Proposed Dividend will be accounted for in the next year after it is declared by the shareholders. Previous years’ Proposed Dividend to be given effect, as prescribed in AS-4, Events occurring after the Balance Sheet date. Current years’ Proposed Dividend will be accounted for in the next year after it is declared by the shareholders.

Detailed Syllabus [ Economics ] XII

Part A: Introductory Macroeconomics

Unit 1: National Income and Related Aggregates 30 Periods
What is Macroeconomics?
Basic concepts in macroeconomics: consumption goods, capital goods, final goods, intermediate goods; stocks and flows; gross investment and depreciation.
Circular flow of income (two sector model); Methods of calculating National Income - Value Added or Product method, Expenditure method, Income method.
Aggregates related to National Income:
Gross National Product (GNP), Net National Product (NNP), Gross Domestic Product (GDP) and Net Domestic Product (NDP) - at market price, at factor cost; Real and Nominal GDP
GDP Deflator, GDP and Welfare

Unit 2: Money and Banking 15 Periods
Money – meaning and functions, supply of money - Currency held by the public and net demand deposits held by commercial banks.
Money creation by the commercial banking system.
Central bank and its functions (example of the Reserve Bank of India): Bank of issue, Govt. Bank, Banker's Bank, Control of Credit through Bank Rate, Cash Reserve Ratio (CRR), Statutory Liquidity Ratio (SLR), Repo Rate and Reverse Repo Rate, Open Market Operations, Margin requirement.

Unit 3: Determination of Income and Employment 30 Periods
Aggregate demand and its components.
Propensity to consume and propensity to save (average and marginal).
Short-run equilibrium output; investment multiplier and its mechanism.
Meaning of full employment and involuntary unemployment.
Problems of excess demand and deficient demand; measures to correct them - changes in government spending, taxes and money supply.

Unit 4: Government Budget and the Economy 17 Periods
Government budget - meaning, objectives and components.
Classification of receipts - revenue receipts and capital receipts;
Classification of expenditure – revenue expenditure and capital expenditure.
Balanced, Surplus and Deficit Budget – measures of government deficit.

Unit 5: Balance of Payments 18 Periods
Balance of payments account - meaning and components;
Balance of payments – Surplus and Deficit
Foreign exchange rate - meaning of fixed and flexible rates and managed floating.
Determination of exchange rate in a free market, Merits and demerits of flexible and fixed exchange rate.
Managed Floating exchange rate system

Part B: Indian Economic Development

Unit 6: Development Experience (1947-90) and Economic Reforms since 1991: 28 Periods
A brief introduction of the state of Indian economy on the eve of independence. Indian economic system and common goals of Five Year Plans.
Main features, problems and policies of agriculture (institutional aspects and new agricultural strategy), industry (IPR 1956; SSI – role & importance) and foreign trade.
Economic Reforms since 1991:
Features and appraisals of liberalization, globalization and privatization (LPG policy); Concepts of demonetization and GST

Unit 7: Current challenges facing Indian Economy 60 Periods
Human Capital Formation: How people become resource; Role of human capital in economic development; Growth of Education Sector in India
Rural development: Key issues - credit and marketing - role of cooperatives; agricultural diversification; alternative farming - organic farming
Employment: Growth and changes in work force participation rate in formal and informal sectors; problems and policies
Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and Environment, including global warming

Unit 8: Development Experience of India: 12 Periods
A comparison with neighbours
India and Pakistan
India and China
Issues: economic growth, population, sectoral development and other Human Development Indicators

Part C: Project in Economics 20 Periods

Detailed Syllabus [ Business Studies ] XII

Part A: Principles and Functions of Management
Unit 1: Nature and Significance of Management

Management - concept, objectives, and importance
• Understand the concept of management.
• Explain the meaning of ‘Effectiveness and Efficiency.
• Discuss the objectives of management.
• Describe the importance of management.

Management as Science, Art and Profession
• Examine the nature of management as a science, art and profession.

Levels of Management
• Understand the role of top, middle and lower levels of management

Management functions-planning, organizing, staffing, directing and controlling
• Explain the functions of management

Coordination- concept and importance
• Discuss the concept and characteristics of coordination.
• Explain the importance of coordination.

Unit 2: Principles of Management

Principles of Management - concept and significance
• Understand the concept of principles of management.
• Explain the significance of management principles.

Fayol’s principles of management
• Discuss the principles of management developed by Fayol.

Taylor’s Scientific management - principles and techniques
• Explain the principles and techniques of ‘Scientific Management’.
• Compare the contributions of Fayol and Taylor.

Unit 3: Business Environment

Business Environment- concept and importance
• Understand the concept of ‘Business Environment’.
• Describe the importance of business environment

Dimensions of Business Environment - Economic, Social, Technological, Political and Legal
Demonetization - concept and features
• Describe the various dimensions of ‘Business Environment’.
• Understand the concept of demonetization

Unit 4: Planning

Planning: Concept, importance and limitation
• Understand the concept of planning.
• Describe the importance of planning.
• Understand the limitations of planning.

Planning process
• Describe the steps in the process of planning.

Single use and Standing Plans. Objectives, Strategy, Policy, Procedure, Method, Rule, Budget and Programme
• Develop an understanding of single use and standing plans
• Describe objectives, policies, strategy, procedure, method, rule, budget and programme as types of plans.

Unit 5: Organising

Organising: Concept and importance
• Understand the concept of organizing as a structure and as a process.
• Explain the importance of organising.

Organising Process
• Describe the steps in the process of organizing

Structure of organisation- functional and divisional concept.
Formal and informal organization - concept
• Describe functional and divisional structures of organisation.
• Explain the advantages, disadvantages and suitability of functional and divisional structure.
• Understand the concept of formal and informal organisation.
• Discuss the advantages, disadvantages of formal and informal organisation.

Delegation: concept, elements and importance
• Understand the concept of delegation.
• Describe the elements of delegation.
• Appreciate the importance of Delegation.

Decentralization: concept and importance
• Understand the concept of decentralisation.
• Explain the importance of decentralisation.
• Differentiate between delegation and decentralisation.

Unit 6: Staffing

Staffing: Concept and importance of staffing
• Understand the concept of staffing.
• Explain the importance of staffing

Staffing as a part of Human Resource Management concept
• Understand the specialized duties and activities performed by Human Resource Management

Staffing process
• Describe the steps in the process of staffing

Recruitment process
• Understand the meaning of recruitment.
• Discuss the sources of recruitment.
• Explain the merits and demerits of internal and external sources of recruitment.

Selection – process
• Understand the meaning of selection.
• Describe the steps involved in the process of selection.

Training and Development - Concept and importance, Methods of training - on the
• Understand the concept of training and development.

Job and off the job - vestibule training, apprenticeship training and internship training
• Appreciate the importance of training to the organisation and to the employees.
• Discuss the meaning of induction training, vestibule training, apprenticeship training and internship training.
• Differentiate between training and development.
• Discuss on the job and off the job methods of training.

Unit 7: Directing

Directing: Concept and importance
• Describe the concept of directing.
• Discuss the importance of directing

Elements of Directing
• Describe the various elements of directing

Motivation - concept, Maslow’s hierarchy of needs, Financial and non-financial incentives
• Understand the concept of motivation.
• Develop an understanding of Maslow’s Hierarchy of needs.
• Discuss the various financial and non-financial incentives.

Leadership - concept, styles - authoritative, democratic and laissez faire
• Understand the concept of leadership.
• Understand the various styles of leadership.

Communication - concept, formal and informal communication; barriers to effective communication, how to overcome the barriers?
• Understand the concept of communication
• Understand the elements of the communication process.
• Discuss the concept of formal and informal communication.
• Discuss the various barriers to effective communication.
• Suggest measures to overcome barriers to communication.

Unit 8: Controlling

Controlling - Concept and importance
• Understand the concept of controlling.
• Explain the importance of controlling.

Relationship between planning and controlling
• Describe the relationship between planning and controlling

Steps in process of control
• Discuss the steps in the process of controlling.

Part B: Business Finance and Marketing
Unit 9: Financial Management

Financial Management: Concept, role and objectives
• Understand the concept of financial management.
• Explain the role of financial management in an organisation.
• Discuss the objectives of financial management

Financial decisions: investment, financing and dividend - Meaning and factors affecting
• Discuss the three financial decisions and the factors affecting them.

Financial Planning - concept and importance
• Describe the concept of financial planning and its objectives.
• Explain the importance of financial planning.

Capital Structure – concept and factors affecting capital structure
• Understand the concept of capital structure.
• Describe the factors determining the choice of an appropriate capital structure of a company.

Fixed and Working Capital - Concept and factors affecting their requirements
• Understand the concept of fixed and working capital.
• Describe the factors determining the requirements of fixed and working capital.

Unit 10: Financial Markets

Financial Markets: Concept
• Understand the concept of financial market.
Money Market: Concept
• Understand the concept of money market.

Capital market and its types (primary and secondary)
• Discuss the concept of capital market.
• Explain primary and secondary markets as types of capital market.
• Differentiate between capital market and money market.
• Distinguish between primary and secondary markets.

Stock Exchange - Functions and trading procedure
• Give the meaning of a stock exchange.
• Explain the functions of a stock exchange.
• Discuss the trading procedure in a stock exchange.
• Give the meaning of depository services and demat account as used in the trading procedure of securities.

Securities and Exchange Board of India (SEBI) - objectives and functions
• State the objectives of SEBI.
• Explain the functions of SEBI.

Unit 11: Marketing

Marketing – Concept, functions and philosophies
• Understand the concept of marketing.
• Explain the features of marketing.
• Discuss the functions of marketing.
• Explain the marketing philosophies.

Marketing Mix – Concept and elements
• Understand the concept of marketing mix.
• Describe the elements of marketing mix.

Product – branding, labelling and packaging – Concept
• Understand the concept of product as an element of marketing mix.
• Understand the concept of branding, labelling and packaging.

Price - Concept, Factors determining price
• Understand the concept of price as an element of marketing mix.
• Describe the factors determining price of a product.

Physical Distribution – concept, components and channels of distribution
• Understand the concept of physical distribution.
• Explain the components of physical distribution.
• Describe the various channels of distribution.

Promotion – Concept and elements; Advertising, Personal Selling, Sales Promotion and Public Relations
• Understand the concept of promotion as an element of marketing mix.
• Describe the elements of promotion mix.
• Understand the concept of advertising.
• Understand the concept of sales promotion.
• Discuss the concept of public relations.

Unit 12: Consumer Protection

Consumer Protection: Concept and importance
• Understand the concept of consumer protection.
• Describe the importance of

consumer protection.
• Discuss the scope of Consumer Protection Act, 2019

The Consumer Protection Act, 2019:
Meaning of consumer
Rights and responsibilities of consumers Who can file a complaint?
Redressal machinery
Remedies available
• Understand the concept of a consumer according to the Consumer Protection Act, 2019.
• Explain the consumer rights
• Understand the responsibilities of consumers
• Understand who can file a complaint and against whom?
• Discuss the legal redressal machinery under Consumer Protection Act, 2019.
• Examine the remedies available to the consumer under Consumer Protection Act, 2019.

Consumer awareness - Role of consumer organizations and Non-Governmental Organizations (NGOs)
• Describe the role of consumer organizations and NGOs in protecting consumers’ interests.