Maharashtra State Board 12th Standard Board Exam Accounts Syllabus - Free PDF Download
Maharashtra State Board Syllabus 2026-27 12th Standard Board Exam: The Maharashtra State Board 12th Standard Board Exam Accounts Syllabus for the examination year 2026-27 has been released by the MSBSHSE, Maharashtra State Board. The board will hold the final examination at the end of the year following the annual assessment scheme, which has led to the release of the syllabus. The 2026-27 Maharashtra State Board 12th Standard Board Exam Accounts Board Exam will entirely be based on the most recent syllabus. Therefore, students must thoroughly understand the new Maharashtra State Board syllabus to prepare for their annual exam properly.
The detailed Maharashtra State Board 12th Standard Board Exam Accounts Syllabus for 2026-27 is below.
Academic year:
Maharashtra State Board 12th Standard Board Exam Book Keeping and Accountancy Revised Syllabus
Maharashtra State Board 12th Standard Board Exam Book Keeping and Accountancy Course Structure 2026-27 With Marking Scheme
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Syllabus
1 Introduction to Partnership and Partnership Final Accounts [Revision]
- Concept of Partnership
- Introduction
- Definition: Partnership
- Features
- Nature of Partnership
- Rights of Partner
- Partnership Deed
- Introduction
- Content
- Importance
- Example
- Provisions of the Indian Partnership Act, 1932
- Introduction
- Importance
- Provisions of the Indian Partnership Act, 1932
- Other Important Provisions
- Example
- Special Aspects of Partnership Accounts> Partner's Capital Account
- Introduction
- Journal Entries
- Example
- Types of Partners' Capital Accounts
- Partner's Capital Account> Fixed Capital Account
- Introduction
- Capital Account
- Current Account
- Specimen
- Capital Account vs Current Account
- Example
- Partner's Current Account
- Introduction
- Format
- Journal Entries
- Effects in Profit and Loss Account
- Partner's Capital Account> Fluctuating Capital Account
- Introduction
- Capital Account
- Specimen
- Example
- Examples on Partners’ Capital Accounts
- Example 1
- Example 2
- Example 3
- Partnership Final Accounts
- Accounting Process – Flowchart
- Need
- Preparation
- Trading Account
- Definition
- Nature and Purpose
- Proforma
- Treatment of Wages and Salaries
- Profit and Loss Account
- Definition
- Nature and Purpose
- Proforma
- Balance Sheet
- Introduction
- Definition: Balance Sheet
- Format
- Adjustments in Final Account
- Important Instructions
- Trial Balance Items Treatment
- Problem-Solving Steps
- Examples on Partnership Final Accounts
- Example 1
- Example 2
- Example 3
1 Introduction to Partnership [Revision]
- Concept of Partnership
- Introduction
- Definition: Partnership
- Features
- Nature of Partnership
- Rights of Partner
- Partnership Deed
- Introduction
- Content
- Importance
- Example
- Special Aspects of Partnership Accounts> Partner's Capital Account
- Introduction
- Journal Entries
- Example
- Types of Partners' Capital Accounts
2 Partnership Final Accounts [Revision]
- Partnership Final Accounts
- Accounting Process – Flowchart
- Need
- Preparation
- Adjustments - Income Receivable
- Distribution of Profit Among Partners
- Interest on Capital and Current Accounts
- Interest on Capital
- Additional Capital
- Drawings Against Capital
- Calculation of Interest on Capital
- Specimen
- Example
- Provision Relating to Interest on Capital
- Interest on Capital and Current Accounts
- Adjustments - Interest on Investment and Loans
- Adjustments - Goods Destroyed by Fire Or Accident (Insured Or Uninsured)
- Adjustments - Goods Stolen
- Adjustments of Financial Statements - Goods Distributed as Free Samples and Manager's Commission
- Adjustments - Goods Withdrawn by Partners
- Adjustments - Unrecorded Purchases and Sales
- Adjustments - Capital Expenditure Included in Revenue Expenses and Vice-versa
- Adjustments - Bills Receivable Dishonoured
- Adjustments - Bills Payable Dishonoured
- Adjustments - Deferred Expenses
- Adjustments - Capital Receipts Included in Revenue Receipts and Vice-versa
- Adjustments - Commission to Working Partner Managers on the Basis of Gross Profit Net Profit, Sales, Etc
2 Accounts of ‘Not for Profit’ Concerns [Revision]
- Concept of Non-Profit Concerns
- Introduction
- Meaning
- Features
- Profit Organisations vs Not-For-Profit Organisations
- Need for Maintaining Books of Accounts and Preparation of Final Accounts
- Receipts and Payments Account
- Introduction
- Format
- Features
- Types of Receipts
- Types of Payments
- Specimen of Receipts and Payments Account
- Income and Expenditure Account
- Introduction
- Features
- Specimen
- Receipts and Payments Account vs Income and Expenditure Account
- Not-for-Profit Concern> Balance Sheet
- Introduction
- Specimen of Balance Sheet
- Adjustments
- Examples on Not for Profit Concern
- Example 1
- Example 2
- Example 3
- Example 4
- Example 5
3 Reconstitution of Partnership (Admission of Partner) [Revision]
- Reconstitution of Partnership
- Meaning
- Different Forms of Reconstitution
- Admission of Partner
- Introduction
- Rights of a New Partner
- Effects of Admission of a Partner
- Adjustments Made at the Time of Admission of a Partner
- Admission of Partner> Change in Profit-Sharing Ratio
- New Profit Sharing Ratio
- Introduction
- Case 1
- Case 2
- Case 3
- Example
- Sacrificing Ratio
- Introduction
- Formula
- Case 1
- Case 2
- Case 3
- Examples
- New Profit Sharing Ratio
- Admission of Partner> Accounting Treatment of Goodwill
- Introduction
- Journal Entries
- Example
- Methods of Valuation of Goodwill
- Average Profit Method
- Introduction
- Limitations
- Super Profit Method
- Introduction
- Formula
- Example
- Average Profit Method
- Admission of Partner> Reserves and Accumulated Profit/Losses
- Introduction
- Journal Entries
- Example
- Admission of Partner> Revaluation of Assets and Liabilities
- Introduction
- Accounting Entries
- Examples
- Admission of Partner> Adjustment of Capital
- Introduction
- Accounting Entries
- Examples
- Examples on Admission of Partner
- Example 1
- Example 2
- Example 3
- Example 4
3 Reconstitution of Partnership [Revision]
- Modes of Reconstitution of a Partnership Firm
- Admission of Partner
- Introduction
- Rights of a New Partner
- Effects of Admission of a Partner
- Adjustments Made at the Time of Admission of a Partner
- Admission of Partner> Change in Profit-Sharing Ratio
- New Profit Sharing Ratio
- Introduction
- Case 1
- Case 2
- Case 3
- Example
- New Profit Sharing Ratio
- Methods of Valuation of Goodwill
- Admission of Partner> Adjustment of Capital
- Introduction
- Accounting Entries
- Examples
- Admission of Partner> Revaluation of Assets and Liabilities
- Introduction
- Accounting Entries
- Examples
- Admission of Partner> Accounting Treatment of Goodwill
- Introduction
- Journal Entries
- Example
- Retirement of Partner
- Introduction
- Accounting Adjustments at the time of the Retirement of a Partner
- Needs of Retirement Or Death of a Partner
- Retirement/Death of a Partner> Treatment of Goodwill
- Introduction
- Unrecorded Goodwill
- Hidden Goodwill
- Example
- Retirement/Death of a Partner> Revaluation of Assets and Liabilities
- Introduction
- Journal Entries
- Example
- Retirement/Death of a Partner> New Profit Sharing Ratio
4 Dissolution of Partnership Firm [Revision]
- Concept of Dissolution of Partnership Firm
- Introduction
- Modes of Dissolution of Firm
4 Reconstitution of Partnership (Retirement of Partner) [Revision]
- Retirement of Partner
- Introduction
- Accounting Adjustments at the time of the Retirement of a Partner
- Retirement/Death of a Partner> New Profit Sharing Ratio
- Retirement/Death of a Partner> Gaining Ratio
- Retirement/Death of a Partner> Treatment of Goodwill
- Introduction
- Unrecorded Goodwill
- Hidden Goodwill
- Example
- Hidden Goodwill
- Introduction
- Example
- Retirement/Death of a Partner> Reserves and Accumulated Profits/Losses
- Introduction
- Journal Entries
- Example
- Retirement/Death of a Partner> Revaluation of Assets and Liabilities
- Introduction
- Journal Entries
- Example
- Retirement/Death of a Partner> Adjustment of Capitals
- Introduction
- Journal Entries
- Example
- Computation of Amount Due to the Retiring Partner
- Introduction
- Journal Entries
- Examples
- Payment of Amount due to Retiring Partner
- Journal Entries
- Examples
- Examples on Retirement of Partner
- Example 1
- Example 2
5 Reconstitution of Partnership (Death of Partner) [Revision]
- Death of Partner
- Retirement/Death of a Partner> New Profit Sharing Ratio
- Retirement/Death of a Partner> Gaining Ratio
- Retirement/Death of a Partner> Revaluation of Assets and Liabilities
- Introduction
- Journal Entries
- Example
- Determination of Amount due to the Deceased Partner
- Introduction
- Journal entries
- Deceased Partner's Capital Account
- Settlement of Amount Payable to the Deceased Partner
- Introduction
- Journal Entries
- Share of Profit of the Deceased Partner
- Based of Estimated Profit or Loss
- Deceased Partner's Share of Goodwill
- Example
- Examples on Death of Partner
- Example 1
- Example 2
- Example 3
5 Accounts of “Not for Profit” concerns [Revision]
- Concept of Non-Profit Concerns
- Introduction
- Meaning
- Features
- Profit Organisations vs Not-For-Profit Organisations
- Need for Maintaining Books of Accounts and Preparation of Final Accounts
- Receipts and Payments Account
- Introduction
- Format
- Features
- Types of Receipts
- Types of Payments
- Specimen of Receipts and Payments Account
- Additional Information - Prepaid Expenses of the Current and Previous Year
- Additional Information - Subscription Received in Advance
- Additional Information - Subscription Outstanding of the Current and Previous Year
- Additional Information - Capitalisation of Entrance Fees
- Additional Information - Creation of Special Funds Out of Donations
- Additional Information - Stock of Stationery
- Additional Information - Opening Balances of Assets and Liabilities
- Income and Expenditure Account
- Introduction
- Features
- Specimen
6 Dissolution of Partnership Firm [Revision]
- Concept of Dissolution of Partnership Firm
- Introduction
- Modes of Dissolution of Firm
- Difference Between Dissolution of Partnership and Dissolution of Firm
- Accounting at the Time of Dissolution of a Firm
- Settlement of Accounts on Dissolution
- Payment of Firm Debts and Private Debts
- Firm's Debts vs Private Debts
- Example
- Types of Firm Dissolution> Simple Dissolution
- Meaning
- Accounts Required to be Opened
- Accounting Entries To Close The Books Of Accounts
- Transfer Stage
- Introduction
- Journal Entries
- Realisation/Disposal Stage
- Introduction
- Journal Entries
- Distribution Stage
- Introduction
- Journal Entries
- Transfer Stage
- Treatment of Unrecorded (Undisclosed) Assets and Liabilities
- Introduction
- Journal Entries
- Process of Dissolution> Valuation of Goodwill
- Journal Entries
- Example
- Process of Dissolution> Realisation Account
- Introduction
- Specimen
- Example
- Revaluation Account vs Ralisation Account
- Examples on Simple Dissolution
- Example 1
- Example 2
- Example 3
- Types of Firm Dissolution> Dissolution under Insolvency Situation
- Introduction
- Important Concepts
- Fixed and Fluctuating Capital Method
- Fluctuating Capital Method
- When One Partner Becomes Insolvent
- Example 1
- Example 2
- When Two Partners Become Insolvent
- When All Partners Are Insolvent
- Closing Books of Accounts
- Recovery from Insolvent Partner and Distribution of His Capital Deficiency
- Example 1
- Example 2
6 Single Entry System [Revision]
- Concept of Single Entry System
- Introduction
- Definitions
- Reasons for Suitability
- Parts of Single Entry System
- Statements of Affairs
- Statement of Affairs—Meaning
- Purposes of Statements of Affairs
- Terms and Formulae Used
- Specimen for Statement of Affairs
- Statements of Affairs
- Additional Information - Additional Capital
- Effects of Adjustments-Drawings
- Concept of Depreciation
- Introduction
- Definition: Depreciation
- Origin and Meaning of the Word “Depreciation”
- Exceptions to Depreciation
- Causes of Depreciation
- Examples: Causes of Depreciation
- Importance of Charging Depreciation
- Examples: Importance of Charging Depreciation
- Conditions for Charging Depreciation
- Depreciation vs. Provisions vs. Reserves
- Examples: Depreciation vs. Provisions vs. Reserves
- Key Takeaways
- Additional Information - Undervaluation of Assets and Liabilities
- Additional Information - Overvaluation of Assets and Liabilities
- Distribution of Profit Among Partners
- Interest on Capital and Current Accounts
- Interest on Capital
- Additional Capital
- Drawings Against Capital
- Calculation of Interest on Capital
- Specimen
- Example
- Provision Relating to Interest on Capital
- Interest on Capital and Current Accounts
- Additional Information - Partners Salary
- Illustrations of Single Entry System
7 Bill of Exchange (Only Trade Bill) [Revision]
- Necessity of Bill of Exchange (Only Trade Bill)
- Acceptance
- Meaning
- Types
- Format of After Date Bill with General Acceptance
- Format of After Date Bill with General Acceptance and Payee’s name is given
- Format of After Sight Bill
- Qualified Acceptance as to Amount
- Qualified Acceptance as to Time
- Demand Bill
- Concept of Bills of Exchange
- Introduction
- Definition: Bills of Exchange
- Features
- Parties to a Bill Exchange
- Types
- Contents of Format of Bill of Exchange
- Specimen
- Honouring and Dishonouring of Bill of Exchange
- Accounting Treatment> Discounting the Bill of Exchange
- Introduction
- Formula: Discount
- Example
- Accounting Treatment in the Books of Drawer and Drawee
- Example
- Accounting Treatment> Retaining the Bill till the Due Date
- Introduction
- Accounting treatment in the books of Drawer and Drawee
- Example
- Accounting treatment in the Books of Drawer and Drawee
- Accounting Treatment> Endorsement of Bill of Exchanges
- Introduction
- Accounting Treatment in the Books of Drawer, Drawee and Endorsee
- Example
- Accounting Treatment > Bills Sent to Bank for Collection
- Introduction
- Accounting Treatment in the Books of Drawer and Drawee
- Example
- Insolvency of Drawee
- Introduction
- Accounting Treatment in the Books of Drawer and Drawee
- Retirement of Bill under Rebate
- Introduction
- Accounting Treatment in the Books of Drawer and Drawee
- Accounting at the Time of Dissolution of a Firm
- Settlement of Accounts on Dissolution
- Payment of Firm Debts and Private Debts
- Firm's Debts vs Private Debts
- Example
- Examples on Bills of Exchange
- Example 1
- Example 2
- Example 3
7 Bills of Exchange [Revision]
- Credit Transactions
- Introduction
- Significance
- Negotiable Instruments
- Concept of Bills of Exchange
- Introduction
- Definition: Bills of Exchange
- Features
- Parties to a Bill Exchange
- Types
- Contents of Format of Bill of Exchange
- Specimen
- Acceptance
- Meaning
- Types
- Format of After Date Bill with General Acceptance
- Format of After Date Bill with General Acceptance and Payee’s name is given
- Format of After Sight Bill
- Qualified Acceptance as to Amount
- Qualified Acceptance as to Time
- Demand Bill
- Promissory Note
- Introduction
- Parties to a Promissory Note
- Format of Promissory Note
- Due Date
- Types of Due Date
- Calculation of Due Date
- Honouring and Dishonouring of Bill of Exchange
- Classification of Bills for Accounting
- Introduction
- Specimen of Bills Receivable Book
- Specimen of Bills Payable Book
- Accounting Treatment> Retaining the Bill till the Due Date
- Introduction
- Accounting treatment in the books of Drawer and Drawee
- Example
- Accounting treatment in the Books of Drawer and Drawee
- Accounting Treatment> Discounting the Bill of Exchange
- Introduction
- Formula: Discount
- Example
- Accounting Treatment in the Books of Drawer and Drawee
- Example
- Accounting Treatment> Endorsement of Bill of Exchanges
- Introduction
- Accounting Treatment in the Books of Drawer, Drawee and Endorsee
- Example
- Accounting Treatment > Bills Sent to Bank for Collection
- Introduction
- Accounting Treatment in the Books of Drawer and Drawee
- Example
- Renewal Bill of Exchange
- Introduction
- Steps
- Accounting Treatment in the Books of Drawer and Drawee
- Alternate Accounting Treatment (When interest paid in cash immediately)
- Retirement of Bill under Rebate
- Introduction
- Accounting Treatment in the Books of Drawer and Drawee
- Insolvency of Drawee
- Introduction
- Accounting Treatment in the Books of Drawer and Drawee
- Examples on Bills of Exchange
- Example 1
- Example 2
- Example 3
8 Company Accounts - Issue of Shares [Revision]
- Joint Stock Company
- Introduction
- Definition: Joint Stock Company
- Features
- Merits
- Demerits
- Types of Companies
- Real-Life Application
- Key Point Summary
- Concept of Shares
- Kinds of Shares> Equity Shares
- Kinds of Shares> Preference Shares
- Introduction
- Types of Preference Shares
- Shareholder's Fund> Share Capital of a Company
- Introduction
- Authorised or Nominal, or Registered Capital
- Issued Capital
- Subscribed Capital
- Called-up Capital
- Paid-up Capital
- Reserve Capital and Capital Reserves
- Authorised Capital vs Issued Capital
- Issue of Different Classes of Shares
- Treatment of Share Capital in Balance Sheet
- Methods of Issue of Share Capital
- Terms of Issue of Shares> Issue of Shares at Par
- Introduction
- Example
- Terms of Issue of Shares> Issue of Shares at Premium
- Introduction
- Nature of Securities Premium
- Accounting Treatment
- Example
- Terms of Issue of Shares> Issue Shares at Discount
- Over Subscription of Shares
- Introduction
- Example
- Pro-rata Allotment
- Introduction
- Journal Entries
- Under Subscription of Shares
- Introduction
- Minimum Subscription
- Accounting Entries
- Oversubscription vs Undersubscription of Shares
- Example
- Calls-In-Arrears
- Introduction
- Accounting Treatment
- Example
- Calls-In-Advance
- Introduction
- Journal Entry
- Example
- Issue of Shares for Consideration other than Cash
- Introduction
- Issue of Shares for Purchase of Assets or Business
- Issue of Shares to Promoters for Services
- Issue of Shares to Others for Services
- Example
- Forfeiture of Shares
- Introduction
- Accounting Entries
- Forfeiture of Shares that were Issued at Par
- Forfeiture of Shares that were Issued at a Premium
- When Shares Were Originally Issued at a Premium
- Accounting Treatment
- Example 1
- Example 2
- When Shares Were Originally Issued at Discount
- Accounting Treatment
- Example
- Reissue of Forfeited Shares
- Introduction
- Maximum Possible Discount on Reissue of Forfeited Shares
- Example
8 Company Accounts [Revision]
- Concept of Shares
- Shareholder's Fund> Share Capital of a Company
- Introduction
- Authorised or Nominal, or Registered Capital
- Issued Capital
- Subscribed Capital
- Called-up Capital
- Paid-up Capital
- Reserve Capital and Capital Reserves
- Authorised Capital vs Issued Capital
- Issue of Different Classes of Shares
- Private Placement of Shares
- Terms of Issue of Shares> Issue of Shares at Par
- Introduction
- Example
- Types of Share Issue
-
Issue of Shares at a Premium
-
Issue of Shares at Discount
-
Issue of Shares for Consideration Other Than Cash
-
- Under Subscription of Shares
- Introduction
- Minimum Subscription
- Accounting Entries
- Oversubscription vs Undersubscription of Shares
- Example
- Over Subscription of Shares
- Introduction
- Example
- Forfeiture of Shares
- Introduction
- Accounting Entries
- Forfeiture of Shares that were Issued at Par
- Forfeiture of Shares that were Issued at a Premium
- Concept of Debentures
- Introduction
- Definition: Debenture
- Features
- Terms of Issue of Debentures> Issue of Debentures at Par
- Journal Entries
- Example
- Issue of Debentures for Consideration Other than Cash
- Introduction
- Issue of Debentures to Promoters
- Issue of Debentures to Underwriters
- Issue of Debentures to Vendors
- Journal Entries
- Example
- Interest on Debentures
- Introduction
- Accounting Entries
- Example
9 Analysis of Financial Statements [Revision]
- Concept of Financial Statements
- Introduction
- Definition: Financial Statement
- Objectives
- Characteristics
- Nature
- Essentials of Financial Statements
- Uses and Importance
- Limitations
- Concept of Financial Statement Analysis
- Meaning
- Definition: Financial Statement Analysis
- Uses of Financial Analysis
- Purpose of Financial Analysis
- Parties Interested in Financial Analysis
- Limitations
- Formats of Financial Statement Analysis
- Balance Sheet
- Profit & Loss Account (Income Statement)
- Tools of Analysis of Financial Statements
- Comparative Financial Statement
- Introduction
- Objectives
- Limitations
- Comparative Balance Sheet
- Introduction
- Objectives
- Advantages
- Preparation of Comparative Balance Sheet
- Format
- Example
- Comparative Income Statement
- Statement of Profit and Loss
- Terms Used in Statement of Profit and Loss
- Objectives
- Preparation of Comparative Income Statement
- Format
- Example
- Common-Size Statement
- Introduction
- Objectives
- Common Size Balance Sheet
- Introduction
- Objectives
- Preparation
- Format
- Example
- Common-Size Income Statement
- Introduction
- Objectives
- Preparation of Common-Size Statement
- Format
- Example
- Concept of Cash Flow Statement
- Introduction
- Objectives
- Importance
- Limitations
- Preparation of Cash Flow Statement
- Introduction
- Format
- Example
- Concept of Ratio Analysis
- Introduction
- Objectives
- Advantages
- Limitations
- Liquidity Ratios
- Current Ratios/Working Capital Ratios
- Introduction
- Objectives
- Formula
- Effect of Transactions on Current Ratio
- Example
- Quick Ratio/Acid Test Ratio/Liquid Ratio
- Introduction
- Objectives
- Effect of Transactions on Quick Ratio
- Formula
- Example
- Current Ratios/Working Capital Ratios
- Profitability Ratios
- Gross Profit Ratio
- Introduction
- Formula
- Significance
- Example
- Net Profit Ratio
- Introduction
- Formula
- Example
- Operating Profit Ratio
- Introduction
- Formula
- Significance
- Example
- Operating Ratio
- Introduction
- Formula
- Significance
- Example
- Return on Investment
- Introduction
- Formula
- Significance
- Example
- Gross Profit Ratio
9 Analysis of Financial Statements [Revision]
- Comparative Financial Statement
- Introduction
- Objectives
- Limitations
- Common-Size Statement
- Introduction
- Objectives
- Concept of Cash Flow Statement
- Introduction
- Objectives
- Importance
- Limitations
- Liquidity Ratios
- Quick Ratio/Acid Test Ratio/Liquid Ratio
- Introduction
- Objectives
- Effect of Transactions on Quick Ratio
- Formula
- Example
- Quick Ratio/Acid Test Ratio/Liquid Ratio
- Classification of Ratios> Income Statement Ratio
- Gross Profit Ratio
- Net Profit Ratio
- Operating Profit Ratio
- Operating Ratio
- Classification of Ratios> Combined/Mixed Ratio
- Return on Investment (ROI)
- Return on Capital Employed (ROCE)
- ROCE
10 Computer In Accounting [Revision]
- Computerized Accounting System (CAS)
- Meaning
- Features
- Importance
- Components
- Creation of Accounting Documents
- Manual Accounting Process vs. Computerized Accounting Process
- Accounting Software
