Padikam lessons

ORIGINAL STUDY COMPANION PADIKAM CLASS 12 | COMMERCE Accountancy CBSE / NCERT core lessons | Academic year 2026-27 12 chapter lessons Quick explanations, core points, exam practice and chapter-specific notation in one consistent format. Padikam explanations are independently written. Official textbooks are used as the coverage map, chapter sequence and terminology reference. PADIKAM | CBSE NCERT CLASS 12 1

Contents 01 Partnership Firms: Fundamentals and 07 Accounting for Debentures Goodwill 08 Financial Statements of a Company 02 Change in Profit-Sharing Ratio 09 Analysis of Financial Statements 03 Admission of a Partner 10 Accounting Ratios 04 Retirement and Death of a Partner 11 Cash Flow Statement 05 Dissolution of Partnership Firm 12 Project Work 06 Accounting for Share Capital Study rhythm Read the quick explanation, recall the core points aloud, then answer the prompts without looking back. Use the official textbook links for full prescribed readings, activities and diagrams. Textbook and verification links

1. https://cbseacademic.nic.in/web_material/CurriculumMain27/SecPart2/Accountancy_SecP2_2026-27.pdf
2. https://ncert.nic.in/textbook.php
3. https://cbseacademic.nic.in/curriculum_2027.html PADIKAM | CBSE NCERT CLASS 12 2

CHAPTER 01 Partnership Firms: Fundamentals and Goodwill Quick understanding Partnership accounts apply the deed to capital, appropriations, guarantees, past adjustments and goodwill valuation. Core points Check your learning Interest on a partner loan is a charge against profit. Explain the central idea of Partnership Firms: Fundamentals and Goodwill in Fixed and fluctuating capitals use different account your own words. layouts. Apply one idea from Partnership Firms: Goodwill methods use maintainable profit Fundamentals and Goodwill to a assumptions. textbook-style example or source. Equation and notation Average-profit goodwill = Average profit × Years purchase Super-profit goodwill = Super profit × Years purchase Capitalisation goodwill = Capitalised value - Net assets SYMBOLS AND UNITS Profit, goodwill, capitalised value and net assets: Years purchase: dimensionless multiplier currency amounts One-line recall Interest on a partner loan is a charge against profit. PADIKAM | CBSE NCERT CLASS 12 3

CHAPTER 02 Change in Profit-Sharing Ratio Quick understanding A ratio change adjusts goodwill, revaluation and accumulated balances among the existing partners. Core points Check your learning Sacrificing and gaining partners must be identified. Explain the central idea of Change in Profit-Sharing Ratio in your own words. Revaluation belongs to the old ratio. Apply one idea from Change in Profit- Memorandum revaluation may be used when book Sharing Ratio to a textbook-style values stay unchanged. example or source. Equation and notation Sacrificing ratio = Old share - New share Gaining ratio = New share - Old share SYMBOLS AND UNITS Shares and ratios: dimensionless fractions One-line recall Sacrificing and gaining partners must be identified. PADIKAM | CBSE NCERT CLASS 12 4

CHAPTER 03 Admission of a Partner Quick understanding Admission gives a new partner a share and requires fair adjustment of goodwill, assets, liabilities, reserves and capitals. Core points Check your learning The new ratio must be calculated before Explain the central idea of Admission of a adjustments. Partner in your own words. Sacrificing partners receive goodwill compensation. Apply one idea from Admission of a Partner to a textbook-style example or The new balance sheet follows all agreed source. revaluations and capital changes. One-line recall The new ratio must be calculated before adjustments. PADIKAM | CBSE NCERT CLASS 12 5

CHAPTER 04 Retirement and Death of a Partner Quick understanding Retirement or death settles the outgoing partner’s claim and redistributes future profit among continuing partners. Core points Check your learning Gaining ratio guides goodwill adjustment. Explain the central idea of Retirement and Death of a Partner in your own Profit up to date of death uses the stated estimate words. basis. Apply one idea from Retirement and The amount due is transferred to loan or executor Death of a Partner to a textbook-style account as appropriate. example or source. One-line recall Gaining ratio guides goodwill adjustment. PADIKAM | CBSE NCERT CLASS 12 6

CHAPTER 05 Dissolution of Partnership Firm Quick understanding Dissolution realises assets, settles liabilities and closes partner accounts in the required order. Core points Check your learning Realisation Account records disposal results. Explain the central idea of Dissolution of Partnership Firm in your own words. Outside liabilities precede partner capital settlement. Apply one idea from Dissolution of Unrecorded assets or liabilities enter when realised Partnership Firm to a textbook-style or paid. example or source. One-line recall Realisation Account records disposal results. PADIKAM | CBSE NCERT CLASS 12 7

CHAPTER 06 Accounting for Share Capital Quick understanding Share-capital accounting records application, allotment, calls, oversubscription, forfeiture and reissue. Core points Check your learning Authorised, issued, subscribed and paid-up capital Explain the central idea of Accounting for are distinct. Share Capital in your own words. Securities premium has restricted uses. Apply one idea from Accounting for Share Capital to a textbook-style Forfeiture and reissue entries must preserve capital example or source. relationships. One-line recall Authorised, issued, subscribed and paid-up capital are distinct. PADIKAM | CBSE NCERT CLASS 12 8

CHAPTER 07 Accounting for Debentures Quick understanding Debentures are company borrowings recorded according to issue price, redemption terms, security and interest. Core points Check your learning Issue may be at par, premium or discount. Explain the central idea of Accounting for Debentures in your own words. Interest is a finance cost. Apply one idea from Accounting for Loss on issue reflects discount and/or redemption Debentures to a textbook-style example premium. or source. One-line recall Issue may be at par, premium or discount. PADIKAM | CBSE NCERT CLASS 12 9

CHAPTER 08 Financial Statements of a Company Quick understanding Company statements present financial position and performance under Schedule III headings and supporting notes. Core points Check your learning Current and non-current classification affects Explain the central idea of Financial interpretation. Statements of a Company in your own words. Notes provide composition of line items. Apply one idea from Financial Contingent and accounting-policy information Statements of a Company to a textbook- matters beyond totals. style example or source. One-line recall Current and non-current classification affects interpretation. PADIKAM | CBSE NCERT CLASS 12 10

CHAPTER 09 Analysis of Financial Statements Quick understanding Statement analysis uses comparison and common-size structure to identify change, composition and questions for further investigation. Core points Check your learning Comparative statements show amount and Explain the central idea of Analysis of percentage change. Financial Statements in your own words. Common-size statements use a common base. Apply one idea from Analysis of Financial Statements to a textbook-style example Accounting choices and inflation limit direct or source. comparison. One-line recall Comparative statements show amount and percentage change. PADIKAM | CBSE NCERT CLASS 12 11

CHAPTER 10 Accounting Ratios Quick understanding Ratios evaluate liquidity, solvency, activity and profitability by linking carefully matched accounting figures. Core points Check your learning Definitions must remain consistent across periods. Explain the central idea of Accounting Ratios in your own words. Average balances often improve turnover measures. Apply one idea from Accounting Ratios Interpret ratios together and with context. to a textbook-style example or source. Equation and notation Current ratio = Current assets / Current liabilities Debt-equity ratio = Debt / Shareholders funds Net profit ratio = Net profit / Revenue from operations × 100 SYMBOLS AND UNITS Accounting amounts: currency units Ratios: dimensionless or percent as stated One-line recall Definitions must remain consistent across periods. PADIKAM | CBSE NCERT CLASS 12 12

CHAPTER 11 Cash Flow Statement Quick understanding The cash flow statement reconciles opening and closing cash through operating, investing and financing activities. Core points Check your learning Non-cash transactions are disclosed but excluded Explain the central idea of Cash Flow from cash totals. Statement in your own words. Indirect operating cash starts from profit and adjusts. Apply one idea from Cash Flow Statement to a textbook-style example or The three activity totals must reconcile with cash source. change. Equation and notation Net cash change = CFO + CFI + CFF Closing cash = Opening cash + Net cash change SYMBOLS AND UNITS CFO, CFI, CFF and cash balances: currency amounts per reporting period One-line recall Non-cash transactions are disclosed but excluded from cash totals. PADIKAM | CBSE NCERT CLASS 12 13

CHAPTER 12 Project Work Quick understanding The Accountancy project applies records, analysis or a selected accounting system to a documented practical case. Core points Check your learning State assumptions and maintain source documents. Explain the central idea of Project Work in your own words. Show calculations and formats clearly. Apply one idea from Project Work to a The viva should be answerable from the student’s textbook-style example or source. own file. One-line recall State assumptions and maintain source documents. PADIKAM | CBSE NCERT CLASS 12 14