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Class XII Accounts — Exam Readiness Checklist

Work through this topic by topic. Tick a box only when you can solve a full-length question on it without help and under time. What's left unticked is exactly where your revision hours should go.

Core topics to master

• Accounting for Partnership Firms — Fundamentals (capital accounts, interest, P&L appropriation)
• Goodwill — nature, factors and methods of valuation
• Reconstitution — Change in Profit-Sharing Ratio
• Admission of a Partner
• Retirement and Death of a Partner
• Dissolution of a Partnership Firm
• Accounting for Share Capital (issue, calls, forfeiture, reissue)
• Issue of Debentures
• Financial Statements of a Company (as per Schedule III)
• Analysis of Financial Statements & Comparative / Common-size statements
• Accounting Ratios (liquidity, solvency, activity, profitability)
• Cash Flow Statement

Exam-technique checklist

• I can complete a full paper within the allotted time
• I show working notes clearly and in the right place
• I attempt the questions I know best first
• My formats (ledgers, balance sheet, cash flow) are neat and correct
• I double-check totals and carry-forwards before moving on
• I've solved the last 3–5 years' board papers and sample papers