CBSE Class 12 Accountancy

A test video

2011-11-12T01:56:00.000-08:00

Here I am adding a test video from youtube. You can find several interesting videos in youtube. At the moment I am trying to upload a few more videos for Class 11.
This is just a video selected for test purpose... if you are finding this good, please leave a comment.

CBSE Accountancy - Table of Contents with Comprehensive part linked

2011-10-27T09:09:00.000-07:00

Class XII
Accountancy Project Work
Table of Contents
Preface
Part I Comprehensive Section
The business story
Transactions
Journal Entries
Ledger
Final Accounts
Part II Ratio Analysis
Income Statement
Balance Sheet
Liquidity ratios
Profitability ratios
Bar charts comparing Current and Liquid Ratios

Part III Cash Flow Statement

Accounancy Project Work - Introduction

2011-10-27T08:54:00.000-07:00

Read this part carefully before you start your project work; then go to

Table of Contents

CBSE project work was introduced with very high objectives. In fact it is a very powerful tool for education. If you join a foreign university, you will find case studies and project works are given equal importance as your classroom participation. You also have to participate in message board discussion.

First let me tell you about case study. This is a very interesting way of connecting your classroom education to real life situations. For example, at the end of the chapter motivation, the teacher will give you a true story related to the topic with two or three questions at the end. You must study the problem and suggest solutions based on your understanding of the subject. This is very interesting and easy. By doing case study you get an opportunity to apply what you learned in the class. Marks will be counted for your final grade.

Here in CBSE system you are not doing a case study, it is a project work.

Accountancy project work is an opportunity to know something about real life accounting. If done properly it would be very valuable in understanding the classroom accounting. Most of the CBSE students are blindly following the guidelines. This page be updated in October to give you exactly how to create project files with sample work. In the meantime please check the blog for regular updates.

The comprehensive section comes first. Here you have the story of a stationery shop, started by a teacher after retirement. You can change the story to suit your needs.

Here you have a table of contents. All the sections are linked to the table of content.

Please note something very important here:

This work is done on the assumption that the accounts are done manually in ledger. Now manual accounting has disappeared. But unless you understand manual work, you will not be able to comprehend computerized accounting.

Here you have transactions for 3 months. I gave this that way with a purpose. I want you to understand the businesses balance their accounts every month, take a trial balance and then start the next month. If you do not check arithmetic accuracy at least once a month, you will not be able to finish the year end work on time. Here you are not doing the bank reconciliation. But in real life accounting, you need to reconcile your bank account with the statement sent by bank.

You have three trial balances (three columns). When you do the final accounts look at the December end balances only.

Please do not copy blindly. I want you to understand things before you write.

Ledger accounts are not done in T form to make them look like real accounts; but you may change it as you wish. Also note that I did not write narrations, 'to' 'by' to save time.

Three colors are used to indicate three months, only to help to identify the connections easily. Do not attempt to make your file colorful.

Wish you all a very successful school finals....

Go to Table of Contents

Check Class 12 Accountancy Pages

2011-10-23T23:56:00.000-07:00

Most of the students visiting the site http://accountancyteacher.com/ come only for the proejct work.
I am very happy to see that the students make use of the proejct work.
Please also take a look at the class 12 Accountancy tab.
I spent nearly a 1000 hours, yes thousand hours, to do those illustrations becaue I found text books telling things as hard as possible.
Copy the illustraitons, work them out one by one.
You will understand things very clearly.
It is FREE indeed.

Best wishes

ST

CBSE Accountancy Class 12 Project Work - Important Update

2011-10-22T12:32:00.000-07:00

Today, just now i have updated the website.

Now you have full comprehensive project work available in the site.

I have been working on this for the past four days.

Please visit http://www.accountancyteacher.com/

Go to the table of contents. All sections are linked to it....

I may not be able to do the ratios and cash flow this time.

Please do it yourselves...

Wish you all the very best........

New Website

2011-06-26T21:56:00.000-07:00

Now there is a new website http://www.accountancyteacher.com/

This site is gradually taking shape. I have added most of the essential links and working to update the rest.

Class 11 accounts remains largely unfinished.

But for class 12 CBSE or other boards, you will find complete information within a week or two.

The information is now available in word format. Now I have to convert them into html to publish.

Here is a sample video. Many more on the way.

Please double click the video for watching full screen mode

I'm Back

2010-06-19T00:23:00.001-07:00

I was bit too busy with personal commitments, so this site was too stagnant. Now I am back. Now I am gradually adding business story and transactions so that you would be able to use it as a good guide for your project work. While I was away for two years, I worked in Hospitality Procurement Management.

Anyway, teaching in the traditional form is now ‘history’ for me.

Wish you all best of luck.

CBSE Accountancy Project Work; Table of Contents

2008-07-23T02:10:00.000-07:00

Now let's start some serious work. Here we are developing a very good story line complete with all the transactions, journal and ledger. These pages are also posted in the website.
Here we have a stationery shop, started on 1st October 2008 (rem.your exam is in Jan 2009). You can change the story to match the busienss in your mind.

Today you have a table of content. I will add story tomorrow. Please make your changes. Consult your teacher for changes. Also introduce the site accountsteacher.com where I placed a lot of free study materials.

Here is the table of content. We will add page numbers at the end. Tomorrow I will write the preface.

Accountancy Project Work

Table of Content

Preface
Section I Comprehensive section
The business story
Transactions
First month
Second month
Third month (Year end)
Journal Entries
Ledger
Trail balance
End of first month
End of second month
Third month (Year end)
Section II Ratio Analysis
Income Statement
Balance Sheet
Liquidity ratios
Profitability ratios
Bar charts comparing ratios with Industry Standards
Evaluation of ratios
Section III Cash Flow Statement
Bibliography

CBSE Accountancy, CBSE Sample Papers - Can you find it anywhere?

2008-07-21T10:35:00.000-07:00

Can you find any decent place to get CBSE study materials? It is a problem. Most of the sites just fill up the pages by key workds - CBSE syllabus - CBSE sample papers - CBSE solved questions and students waste their time there trying to figure out what is kept where. It is difficult to find out who is honest and who is cheat. Teaching is a social responsibility. As far as possible everyone should contribute something towars it. Wasting children's time is a crime.

CBSE Accounts and Busines Studies - New updates in accountsteacher.com

2008-07-21T10:31:00.000-07:00

Please keep watching the website. Lot of changes are coming in two weeks. This month is for Class 12 accountancy. Now you have only theory section part in the site. Now I am adding numerical illustrations too. Project work will be supported through this blog and through site also. Class 11 students can wait a little.

Missing links in accountancy.com

2008-07-21T10:20:00.000-07:00

I have been working overtime to rearrange the files in accountsteacher.com. The files are now moved to separate folders for better site mangement. That is the good part. Now the bad part is missing files until search engines recognize the new location. The number of visitors has reduced drastically today. But this problem will last for only one or two weeks, before that google spiders will track the changes. When you visit, please come straight to accountsteacher.com, the main page and from there go to other page using the menu. If you directly click the sub pages, you may get error message.

CBSE Accounancy Project Work: Basics

2008-07-14T11:17:00.000-07:00

Did you read my earlier post about blind men and the elephant? Now have a look at the CBSE guideline or any other guideline you will find in any of the books. The typical story is this: One man lost his job. He started a business with 0000 money. He took additional loan. Spent on materials and so on and on. This is typical classroom accountancy. You will learn nothing new, nothing more than what you have done last year in the class. What is the use of this exercise? It becomes a copying task and you get some free marks. Unfortunately most of the teachers do not know how accounts are maintained in a business. I am not blaming anyone. I did not know how to open books in the second year, even after teaching company accounts and management accounting in degree classes for four years. This project work should teach you something new. So forget what they tell you in the guidelines. First think of a decent business success story. Then write transactions in correct order. Do it for three months. Make the transactions as you do in a real business and gradually work your way forward. Once you have transactions for three months, 20 per month will do, you can make journal and ledger. The main idea is to make it comprehensive. You must invest money, hire office, buy furniture, buy goods, pay salary, electricity, sell goods, collect money and finally make some decent profit. Imagine you are doing a real business. It is easy and very interesting if you do it this way. I will give you further instructions in the coming days. Keep watching the blog. I will also post sample project work in my website accountsteacher.com. Please do not just copy and submit. I want you to understand what you are doing. In case you have any doubt please post it here. I will answer your questions.

What is Case Study? What is Project Work?

2008-07-14T07:30:00.001-07:00

CBSE project work was introduced with very high objectives. In fact it is a very powerful tool for education. If you join a foreign university, you will find case studies and project works are given equal importance as your classroom participation.
First let me tell you about case study. This is a very interesting way of connecting your classroom education to real life situations. For example, you studied "motivation" in your Business Studies Class. At the end of the class, the teacher will give you a true story related to the topic with two or three questions at the end. You must study the problem and suggest solutions based on your understanding of the subject. This is very interesting and easy. By doing case study you get an opportunity to apply what you have learned in the class. Marks will be awared based on the quality of your suggestions and counted for the final grade.
For your class 12 accountancy, you do not case study, it is a project work. I will explain more about it in the coming days.

Concise Accountancy

2008-01-11T01:47:00.001-08:00

Many students are inquiring about Concise Accountancy for Class XII. The book is almost ready. I am working hard to finish the chapter "Accounts of Non Profit Organizations". I expect to publish it in a week. Please keep visiting http://accountsteacher.com for details.

Using calculator

2007-12-14T08:56:00.001-08:00

Sir, Calculator is allowed everywhere. Why are we not allowed to use calculator
Look, there are many reasons. I think the main problem in our Indian mindset. We like pretensions. We want to act that we are very much concerned about the poor people in our country.

What has'this caring the poor' got to do with the calculator?
See, the poor people can't afford to buy calculator, because it is very expensive. A calculator cost Rs.120 in India. How can the poor afford to pay such a huge amount? Don't ask how they can afford to buy text books, Don't ask why can't the school keep a set of calculators and make them available to the children. Our leaders like drama. We want to act to the poor that we are actually concerned about them. Acting to them is the sure way of keeping them poor and make them feel happy about their poverty. We are a nation of hypocrites. The politicians have one evidence to show the world that we care for the poor. I have been trying to drive some sense into those brains for over a decade. But no use. Until the present generation of leaders retire from CBSE, you will never find any positive change there.

CBSE Accountancy

2007-02-16T19:40:00.000-08:00

Sir, Can you tell us what are the major changes in class XII accountancy this year?
There are two main changes this year: First, the Chapter "dissolution" is removed from partnership accounts.

That's good news, so we have to study one chapter less
No, it is bad news. Dissolution was the easiest chapter. You could easily get 10 marks.

Why did they remove it?
There are many retired "experts" in Delhi, messing up things. I know one such Sardarji, going round and telling everyone that teaching dissolution is very bad, because children will get wrong ideas.

Why, what's wrong?
He thinks closing down a business is a very bad thing. So children should not know it.

Sounds funny
Do you know how Abhimanu died in Kurukhethra?

No, sir, but how is it connected to dissolution?
Arjun was sleeping while Lord Krishna explained how to attack and break the 'lotus formation'. But Lord Krishna was hearing someone humming at each pause, and he found out it was the baby Abhimanu, who was in Arjun's wife Subhadra's womb and Lord Krishna stopped explaining and the baby learned only how to break in,not how to get out.

Now I think our "expert" convinced CBSE to remove 'dissolution' from the syllabus. He believes that you need not know how to close down a non-functional business, and you lost a chance to get easy 10 marks.

I think there are lot of jobless fellows in Delhi meddling with decision making process in CBSE.

How sad?
Secondly they added a new chapter called "accounts of non profit organizations that was removed from class 11 syllabus. It is actually 'fund based accounting'. The NCERT "experts" did not have any idea of what is "fund based accounting" and they wrote the usual rubbish and published.

Sir, that NCERT Accountancy book is really useless; why do they publish it if they cannot make something decent?
CBSE depends on college teachers, thinking that they are experts. It is like employing a lorry driver to drive an autorikshow. College teaching is different. I taught in college before coming to school and I can tell you, college teaching does not make anyone a better school teacher. As I said, it is useless as experience in lorry driving to drive an autorikshow. Now to show their expertise, they add, delete and change the syllabus. NCERT make a half cooked porridge and serve. A new bunch of authors will start that work all over again next year. You find a long list of them in a 200 page book. Many of them never even had seen the book.