Skip to content

Grade 12 Principles of Accounting

The Grade 12 Accounting curriculum comprises four key units: Company Accounting, Company Financial Statements, Cost Accounting, and the Use of Computers in Accounting.

In the “Company Accounting” unit, students delve into the understanding of Company formation, encompassing essential concepts, distinctive features, and the main documentation involved in establishing a company. This unit also covers the accounting aspects related to shares and debentures.

Under the “Company Financial Statements” unit, students are introduced to the components and the preparation of financial statements through both traditional and modern approaches. This section also entails the process of creating worksheets and cash flow statements.

The “Cost Accounting” unit places a spotlight on comprehending the accounting aspects of material costs, labour costs, and overhead expenses. It also includes the concept of unit or output costing, with practical demonstrations of calculating total costs, determining selling prices, and preparing cost reconciliation statements.

In the “Use of Computers in Accounting” unit, students are exposed to the realm of computerised accounting systems. This unit covers theoretical concepts and the utilisation of various software tools within business organisations for the preparation of financial statements and the recording of financial transactions.

Engagement with these topics fosters understanding of essential accounting principles and practices, including company formation, financial statement preparation, cost accounting, and the integration of computer technology into accounting processes. These foundational skills equip students with the knowledge and tools necessary for success in the field of accounting and finance.

Chapters in Principles of Accounting

  • Chapter 1 – Company formation
  • Chapter 2 – Accounting for shares
  • Chapter 3 – Accounting for debentures
  • Chapter 4 – Financial Statements of company
  • Chapter 5 – Worksheet
  • Chapter 6 – Cash Flow Statemen
  • Chapter 7 – Cost Accounting
  • Chapter 8 – Accounting for Material
  • Chapter 9 – Accounting for Labour
  • Chapter 10 – Accounting for Overhead
  • Chapter 11 – Unit or Output Costing
  • Chapter 12 – Cost Reconciliation Statement
  • Chapter 13 – Computarized Accounting System
  • Chapter 14 – Tally Software
  • Chapter 15 – Project Work

Important topics in NEB Class 12 Principles of Accounting

  • Company formation
  • Accounting for shares and debentures
  • Corporate financial statements
  • Cash Flow Statement
  • Cost Accounting
  • Accounting for Material
  • Accounting for Labour
  • Accounting for overhead
  • Unit or output costing
  • Computerised Accounting System

Get your mySecondTeacher app and begin your journey to excellence!

Download the mySecondTeacher app today.