Career

Most Important Questions

Part A: Important Topics and Weightage for Class 12 Accountancy Chapter Name Expected Marks Important Topics 1. Fundamentals of Partnership 6–8 marks 1. Interest on Drawing 2. Past Adjustment 3. Guarantee of Profit 2. Valuation of Goodwill 3 marks 1. Average Profit Method 2. Super Profit Method 3. PSR & Admission 6–10 marks 1. Sacrifice & New Ratio 2. Treatment of Goodwill 3 Capital Adjustment 4. Retirement 6–8 marks 1. Gaining & New Ratio 2. Treatment of Goodwill 3. Capital Adjustment 4. Loan Account 5. Death 4–6 marks 1. Calculation of Profit 2. Deceased Partner’s Share 3. Executor’s Account 6. Dissolution 6–8 marks 1. Journal Entries 2. Realisation Account Part B: Important Topics and Weightage for Class 12 Accountancy Chapter Name Expected Marks Important Topics 1. Issue of Share 14–16 marks 1. Extract Balance Sheet 2. Other than Cash   3. Capital Reserve 4. Forfeiture & Reissue 2. Debenture 8 marks 1. Other than Cash 2. Redemption 3. Interest on Debenture 3. Financial Statements of a Company 3–4 marks 1. Head & Subhead 4. Comparative & Common Size 3–4 marks 1. Format 2. Statement of P&L 5. Ratio Analysis 5–6 marks 1. Solvency Ratios 2. Activity Ratios 3. Profitability 6. Cash Flow Statement 8 marks 1. Operating Activities 2. Investing Activities

Class 12

Chapter 1 : Fundamental of Partnership

Topics : Definition, Key Features, Partnership deed and Legal Provisions in the Absence of partnership deed (as per the Indian Partnership Act, 1932) Section 4 of the Indian Partnership Act, 1932 defines the term “partnership” and lays the foundation for the concept of partnership in India. It states: Definition of Partnership:“Partnership” is the relationship between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. Key Elements of Section 4: The conditions of partnership as per the Indian Partnership Act, 1932, are fundamental requirements that must be fulfilled for a partnership to exist. These conditions ensure the legal validity of a partnership. Below are the key conditions: 1. Agreement Between Partners 2. Existence of a Lawful Business 3. Sharing of Profits 4. Mutual Agency 5. Number of Partners 6. Business Conducted in Common 7. Voluntary Relationship 8. Registration (Optional but Beneficial) A partnership deed is a written legal document that outlines the terms and conditions agreed upon by all partners in a partnership firm. It serves as the foundation of the partnership, detailing the rights, responsibilities, and obligations of each partner. While it is not mandatory to have a partnership deed (as partnerships can be oral), a written deed is highly recommended to avoid disputes and misunderstandings. Key Features of a Partnership Deed Contents of a Partnership Deed A well-drafted partnership deed typically includes the following details: Importance of a Partnership Deed According to partnership Act 1932 (the NCERT Class 12 Business Studies textbook) If there is no written partnership deed, the following rules apply based on the Indian Partnership Act, 1932: 1. Equal Sharing of Profits and Losses 2. No Interest on Capital 3. No Salary or Remuneration 4. Interest on Loans by Partners If a partner gives a loan to the firm, they will receive 6% interest per year on the loan amount. However, if the firm gives a loan to a partner, the partner does not have to pay any interest on the loan. A partner enjoys benefits on both sides. 5. Equal Rights in Business Decisions 6. Admission of a New Partner Case Study on Issues in the Absence of a Partnership Deed Amar, Akbar, and Anthony are partners in a firm. However, they do not have a Partnership Deed. The following issues have arisen among the partners: Resolution of Issues:In the absence of a Partnership Deed, the provisions of the Indian Partnership Act, 1932, shall be applicable: By applying the provisions of the Indian Partnership Act, 1932, the above issues can be resolved. Case Study on Partnership Dispute Question Amar and Akbar are partners in a firm since 1st April 2022. No partnership agreement has been executed between them. Amar contributed ₹4,00,000 and Akbar contributed ₹1,00,000 as their capitals. Additionally, Amar provided a loan of ₹1,00,000 to the firm on 1st October 2022. Due to a prolonged illness, Amar could not participate in the business from 1st August 2022 to 30th September 2022. The profit for the year ended 31st March 2023 was ₹1,80,000. The following disputes have arisen between Amar and Akbar: Solution In the absence of a partnership agreement, the provisions of the Indian Partnership Act, 1932 will apply to resolve the disputes: Profit and Loss Appropriation Account working note for the year ended 31st 2023 Working Notes By applying the provisions of the Indian Partnership Act, 1932, the disputes are resolved, and the profit is distributed equitably between Amar and Akbar. Based on these provisions, the claims are settled as follows:

Career

National Education Policy 2020

National Education Policy 2020: A Revolutionary Blueprint for India’s Educational Future The National Education Policy 2020 (NEP 2020) stands as a transformative framework designed to overhaul the Indian education system, replacing the decades-old 1986 policy. Envisioned to meet the demands of a rapidly evolving global landscape, this policy introduces innovative measures that prioritize holistic development, interdisciplinary learning, and inclusivity, with the ultimate goal of nurturing critical thinkers and problem-solvers for the future. Why NEP 2020 is a Game-Changer A Vision for Lifelong Learning NEP 2020 reimagines education as a lifelong process of discovery and growth. Unlike its predecessors, the policy emphasizes flexibility, enabling learners to explore diverse pathways at every stage of their academic and professional journeys. This dynamic vision aims to produce critical thinkers, ethical leaders, and innovative problem-solvers equipped to tackle 21st-century challenges. What Makes NEP 2020 Unique? 1. Revamped School Structure: The 5+3+3+4 Framework One of the standout features of NEP 2020 is its restructuring of the school education system into a 5+3+3+4 format. This model aligns better with a child’s developmental stages: 2. Early Childhood Education Gets Priority Acknowledging the pivotal role of early childhood education, NEP 2020 aims to universalize access to quality education for children aged 3-6 years. Key steps include: 3. Promoting Multilingualism NEP 2020 underscores the importance of teaching children in their mother tongue or regional language until at least Grade 5, and preferably till Grade 8. This approach not only improves comprehension but also preserves linguistic diversity. 4. Foundational Literacy and Numeracy as a National Mission To address gaps in early learning, NEP 2020 establishes a national mission to ensure all children attain basic literacy and numeracy skills by Grade 3. This mission aims to bridge foundational learning disparities within a specified timeframe. 5. Introducing Multidisciplinary Learning NEP 2020 envisions a paradigm shift in education by promoting interdisciplinary learning. Schools and higher education institutions will: 6. Flexible Higher Education Reforms in higher education under NEP 2020 prioritize flexibility, inclusivity, and innovation: 7. Rethinking Student Assessments To move beyond rote memorization, NEP 2020 introduces competency-based assessments: 8. Leveraging Technology in Education NEP 2020 places a strong emphasis on integrating technology into the education system: 9. Empowering Teachers Recognizing teachers as the cornerstone of educational reform, NEP 2020 emphasizes: 10. Promoting Equity and Accessibility The policy aims to bridge educational disparities by: Focus on Commerce Education: Unlocking Potential Through NEP 2020 1. Encouraging Multidisciplinary Opportunities NEP 2020 enables commerce students to combine their core subjects with electives from arts and sciences. For example, a student interested in entrepreneurship can study business alongside psychology or digital marketing, creating a well-rounded profile tailored to modern job markets. Commerce education is poised for transformation under NEP 2020, as students are encouraged to explore subjects across disciplines. For instance, a commerce student can combine business studies with digital marketing or behavioral economics, creating a unique skill set tailored to modern careers. 2. Skill-Based Learning for Real-World Readiness The introduction of internships and skill-based courses from Grade 6 ensures commerce students gain early exposure to practical aspects of finance, trade, and entrepreneurship. These hands-on experiences prepare them for dynamic careers. 3. Flexible Higher Education Pathways Commerce students can benefit from the multiple entry and exit options in undergraduate programs. For instance, they might pause after earning a diploma to gain work experience and later return to complete their degree, ensuring continuous learning without rigid timelines. 4. Emphasis on Practical Assessments Competency-based assessments ensure commerce students develop critical thinking and analytical skills, moving beyond rote learning. This approach is especially valuable in subjects like accountancy, economics, and business studies, where application is key. 5. Leveraging Technology in Commerce Education NEP 2020’s focus on digital tools allows commerce students to learn essential skills such as data analysis, financial modeling, and online trading. Access to cutting-edge educational technologies ensures they stay competitive in a global economy. The Vision of NEP 2020 NEP 2020 aspires to create an education system that equips students with the skills, knowledge, and values necessary to thrive in a fast-changing global environment. By fostering creativity, critical thinking, and adaptability, the policy seeks to develop well-rounded individuals capable of contributing meaningfully to society. Challenges in Implementation While NEP 2020 is ambitious in its scope, effective execution remains a challenge. Key hurdles include: Conclusion The National Education Policy 2020 represents a bold and forward-thinking approach to reimagining education in India. By emphasizing flexibility, inclusivity, and innovation, it holds the potential to revolutionize the learning experience and empower future generations. Turning this vision into reality, however, will require a concerted effort from all stakeholders, including policymakers, educators, parents, and students. As we embark on this transformative journey, NEP 2020 offers a blueprint to create an education system that not only meets the demands of the modern world but also nurtures India’s rich cultural and intellectual heritage.

Career

Success Stories of Commerce Students

Inspiring Success Stories of Commerce Students: Turning Dreams into Reality The journey of a commerce student is often filled with challenges, aspirations, and countless hours of hard work. Behind every success lies a story of perseverance, determination, and the will to overcome obstacles. In this blog, we bring you a blend of inspiring real-life success stories that showcase the power of dreams and the impact of commerce education. These tales are not just about achieving academic excellence but about transforming lives and paving paths to remarkable achievements. 1. Nandini Sharma: A Story of Discipline and Dedication Nandini Sharma, a young girl from Jaipur, scored an extraordinary 98.8% in her CBSE Class 12 commerce exams. Her journey wasn’t just about academic brilliance but about how she balanced her studies with extracurricular activities and responsibilities at home. (Source: CBSE Topper Interviews, 2023) Her Journey: Her Words of Wisdom: “Every small step counts. Even on days when I felt overwhelmed, I reminded myself that persistence would lead to success. Believe in yourself, and don’t give up.” 2. Rohan Mehta: From Failure to Triumph Rohan Mehta’s story is one of transformation. Scoring just 60% in Class 11, Rohan was disheartened but determined to improve. With hard work and a new approach to studying, he scored an impressive 96% in Class 12. (Source: Interviews with Board Exam Achievers, 2022) His Journey: His Message: “Failure is not the end; it’s an opportunity to start again with more experience. Stay determined, and you’ll be amazed at what you can achieve.” 3. Priya Malhotra: Pursuing Dual Goals with Grace Priya Malhotra from Mumbai managed to balance her CBSE Class 12 exams with her Chartered Accountancy Foundation preparation. Her dedication and multitasking skills enabled her to score 97.5% while clearing her CA Foundation in the first attempt. (Source: Personal Blog of Priya Malhotra, 2023) Her Journey: Her Advice: “Focus on understanding, not memorizing. Commerce offers practical knowledge—use it to your advantage. And remember, balance is key.” 4. Radhika Mehra: Turning Passion into a Thriving Business Radhika Mehra’s journey is a perfect example of combining academic knowledge with personal passion. Scoring 96% in her Class 12 exams, she chose not to follow conventional paths but instead pursued her dream of starting a bakery business. (Source: Local Entrepreneur Interviews, 2024) Her Journey: Her Words: “Dream big, but don’t stop there. Work relentlessly to make your dreams a reality. Commerce gave me the tools to succeed, and passion kept me going.” Lessons from Their Journeys These stories highlight the essence of success—it’s not just about scoring high marks but about finding purpose and staying true to your goals. Here are some takeaways for aspiring commerce students: Your Journey Awaits The world of commerce is vast and full of opportunities. Whether your dream is to become a Chartered Accountant, start your own business, or achieve academic excellence, the key lies in determination and smart work. Let these stories inspire you to create your own success story—one that can motivate countless others. Remember, success isn’t a destination; it’s a journey. And every journey starts with a single step. Take yours today. Do you have a story to share? We’d love to hear it! Reach out to us at Commerce Guruji and inspire the next generation of achievers.

Career

Time Management for CBSE 12th

Mastering Time Management for CBSE 12th Commerce Board Exams: A Comprehensive Guide Time management is often hailed as the key to academic success, yet it remains one of the most misunderstood and underutilized tools among students. For CBSE 12th commerce students preparing for board exams, effective time management can mean the difference between average and stellar results. This blog post dives deep into mastering time management, providing fresh perspectives, practical examples, and insights that go beyond conventional advice. Why Time Management is Crucial for CBSE Students Commerce students face a unique set of challenges: a blend of theoretical concepts, numerical problems, and case studies in subjects like Accountancy, Business Studies, and Economics. Each subject demands a different approach to study and practice. Moreover, students must balance their school syllabus with competitive exam preparation, extracurricular activities, and personal commitments. Time management, therefore, becomes a critical skill that helps: Step 1: Understanding Your Strengths and Weaknesses Before jumping into a schedule, take a day to analyze your strengths and weaknesses in each subject. For instance: Practical Tip: The Pareto Principle Focus 80% of your time on the 20% of topics that carry the highest weightage or where you feel least confident. For example, if you struggle with partnership accounts in Accountancy, dedicate extra hours to this topic while maintaining basic practice for others. Step 2: Crafting a Realistic and Flexible Schedule A rigid schedule often fails because life is unpredictable. Instead, create a dynamic timetable: Case Study: Riya’s Adaptive Timetable Riya, a 12th commerce student, struggled to balance Accountancy and her passion for graphic design. She allocated early mornings to solving Accountancy problems and reserved evenings for her creative pursuits. By sticking to this flexible yet disciplined approach, she excelled in her board exams while maintaining her hobbies. Step 3: Active Learning Techniques Passive reading or highlighting is not enough for effective time management. Instead, employ these techniques: Real-World Application: Memory Palaces The ancient Greeks used the “method of loci” or memory palaces to remember large amounts of information. Imagine your study material as objects placed in different rooms of your house. For example, associate the “Functions of Management” with various rooms and mentally walk through them during revision. Step 4: Managing Exam Stress and Avoiding Burnout Historical Insight: Thomas Edison’s Sleep Cycles Edison, known for his relentless work ethic, believed in power naps to recharge. While cramming all night might seem productive, short breaks and naps are scientifically proven to improve memory consolidation. Step 5: Leveraging Technology and Resources The CBSE Class 12 Commerce Syllabus covers key subjects like Accountancy, Business Studies, Economics, Mathematics, and optional subjects like Informatics Practices and Entrepreneurship. You can download the CBSE Class 12 Commerce syllabus for the academic year 2024-25 from the official CBSE website. The syllabus is available in PDF format for each subject, including Accountancy, Business Studies, Economics, Mathematics, Informatics Practices, and Entrepreneurship or by clicking below link on subjects The syllabus aims to build strong theoretical and practical knowledge, preparing students for higher studies and careers in business, economics, and technology. ]official Link to download 12th class CBSE syllabus for above subjects Don’t miss these questions of Class 12th Business Studies, if you want to score more than 90% in final CBSE board exam 2025 than you can’t ignore these 40 most important questions How to Score Full Marks in Accountancy Practical Questions for Class 12 CBSE – Read important points Conclusion: Building Consistency Over Perfection Time management is not about cramming every minute of your day but about making each minute count. Commerce students preparing for CBSE board exams must understand that consistency, adaptability, and self-awareness are their greatest allies. Start small, track your progress, and celebrate milestones—whether it’s mastering a tough topic or completing a mock test. Remember, the board exams are not just about marks; they’re a stepping stone to your future endeavors. With strategic time management, you can approach these exams with confidence and clarity, setting the stage for success in both academics and life.

Career

Mastering Class 12 CBSE Business Studies: Most Important Questions, Case Studies, and Exam Tips

Are you a Class 12 Commerce student preparing for the CBSE board exams? Do you want to score 90%+ in Business Studies? This blog is your ultimate guide to mastering the most important topics, questions, and case studies for the 2025 board exams. If you’re preparing for your CBSE exam, here’s 12th Business Studies syllabus and breakdown of the key areas from each section with tips on approaching case studies and answering: Management Principles of Management Business Environment Planning Organising Staffing Directing Controlling Financial Management Financial Market (Part B) Don’t Miss Out these Questions: 🔍 Key Questions to Target: CBSE Class 12 Business Studies, Business Studies case studies, Business Studies important questions, 2025 board exam preparation, tips for scoring 90%+ in Commerce, and CBSE Business Studies syllabus. Chapter 1: Nature and Significance of Management 1. Explain any four features of management.2. Why is management considered important? Explain any four points.3. Differentiate between efficiency and effectiveness.(case study)4. Justify how management is a science, an art, and a profession.(case study)                                              5. Explain the Levels of management and their functions (case study) Chapter 2: Principles of Management (i) Unity of Direction(ii) Order(iii) Subordination of individual to general interest (Case Studies)(iv) Discipline(i) Functional Foremanship(ii) Method Study(iii) Harmony, not Discord (Case Study)(iv) Co-operation, not Individualism (Case Study) Chapter 3: Business Environment 8. Explain any four features of the business environment.9. Describe any four dimensions of the business environment with suitable examples. Chapter 4: Planning 10. State any four limitations of planning.11. Differentiate between single-use and standing plans.(case study)12. Explain the steps involved in the planning process.(Case study) Chapter 5: Organizing 13. Explain the process of organizing in an organization.14. Discuss the merits and demerits of functional and divisional structures. (case study)15. Explain the importance of delegation and decentralization (case study)  or  Formal and Informal organisation Chapter 6: Staffing 16. Describe the process of staffing in an organization.17. Explain the benefits of training for employees and employers.18. Distinguish between on-the-job and off-the-job training methods.19. Explain the internal and external sources of recruitment along with their benefits and disadvantages. Chapter 7: Directing 20. Explain the financial and non-financial incentives used to motivate employees.21. Differentiate between formal and informal communication.22. Discuss the various styles of leadership.(case study)23. Explain the barriers to effective communication Chapter 8: Controlling 24. Describe the importance of controlling.25. Explain the steps involved in the process of controlling(including CPC & MBE) 26.Explain the Relationship between Planning and Controlling Chapter 9: Financial Management 27.Explain the importance of financial planning for an organization.28.Discuss the factors affecting the decision of a company: a) Dividendb) Financing / Capital Structurec) Fixed Capital     d) Working Capital (Case Study – All Points)        29. Calculate financial leverage EBIT (Numerical question). Chapter 10: Financial Markets 30. Differentiate between  (a) Money and Capital Market(b) Primary & Secondary Market31. Explain the functions of SEBI.32. Describe the trading procedure in a stock exchange (write the first five steps). Chapter 11: Marketing 33.Explain the factors affecting the price of a product. 34.Differentiate between advertising and personal selling. 35.Explain the functions of packaging and labelling. 36.Explain the Marketing Philosophies (Any One Case Study) 37.Describe Various Channels of Distribution ? Chapter 12: Consumer Protection 38. Explain the rights and responsibilities of consumers.39. Describe the three-tier redressal mechanism under the Consumer Protection Act.40. Who is considered a consumer under the Consumer Protection Act? Mention the remedies available to a consumer in case of exploitation. Don’t miss these questions of Class 12th Business Studies, if you want to score more than 90% in final CBSE board exam 2025 than you can’t ignore these 40 most important questions Good luck Dear student, work hard and build your life

Class 12

How to Score Full Marks in Accountancy Practical Questions for Class 12 CBSE

How to Score Full Marks in Accountancy Practical Questions for Class 12 CBSE Accountancy is one of the most scoring subjects for commerce students in Class 12 CBSE. Practical questions, in particular, can fetch full marks if approached systematically. This blog is designed to help students ace their practical questions by sharing effective strategies, tips, and some key questions from previous year CBSE question papers. Why Practical Questions are Scoring Practical questions in Accountancy follow a structured and logical format. Unlike theoretical answers, they are less subjective and offer direct marks if calculations, formats, and presentations are correct. These questions test students on topics such as fundamentals of partnership, admission, retirement, death, dissolution, issue of share, debenture, accounting ratio, comparative statements and cash flow statements, which can be mastered with consistent practice. 5 Steps to Ace Practical Questions 1. Master the Formats CBSE Accountancy practical questions rely heavily on specific formats. Memorizing and practicing these formats ensures you don’t lose marks due to presentation errors. Key formats include: Here’s a table with the specific formats for the mentioned topics in Accountancy: Topic Specific Format Fundamentals of Partnership Profit and Loss Appropriation Account Admission of a Partner Revaluation Account, Partners’ Capital Account, Balance Sheet Retirement of a Partner Revaluation Account, Partners’ Capital Account, Loan Account Death of a Partner Revaluation Account, Deceased Partner’s Capital Account, Executors’ Account Dissolution of Partnership Realisation Account, Partners’ Capital Account, Bank/ Cash Account Issue of Shares Journal Entries, Share Application and Allotment Ledger, Balance Sheet Issue of Debentures Journal Entries, Debenture Account, Balance Sheet Accounting Ratios Ratio Formulas with Numerical Representation Comparative Statements Format of Comparative Income Statement and Comparative Balance Sheet Cash Flow Statements Operating, Investing, and Financing Activities Format Details of these formats 1. Profit and Loss Appropriation Account Used in Fundamentals of Partnership Dr.                                     Profit and Loss Appropriation Account                                     Cr. ———————————————————————————————— Particulars                              | Amount (₹)       | Particulars                     | Amount (₹) ———————————————————————————————— To Salary to Partners                    | XXXX             | By Net Profit transferred from | To Commission to Partners         | XXXX             |   Profit and Loss A/c                           | XXXX To Interest on Capital                   | XXXX             | By Interest on Drawings             | XXXX To Reserve Fund                            | XXXX             |                                                          | XXXX To Profit transferred to:                |                       |                                                   |   – Partner A’s Capital A/c              | XXXX             |                                                    |   – Partner B’s Capital A/c              | XXXX             |                                                     | ————————————————————————————————                                                            | XXXX             |                                                   | XXXX 2. Revaluation Account Used in Admission, Retirement, or Death of a Partner Dr.                                                          Revaluation Account                                           Cr. ———————————————————————————————— Particulars                              | Amount (₹)       | Particulars                     | Amount (₹) ———————————————————————————————— To Decrease in Asset Value               | XXXX             | By Increase in Asset Value      | XXXX To Increase in Liabilities               | XXXX             | By Decrease in Liabilities      | XXXX To Profit transferred to:                | XXXX             | By Loss transferred to:         | XXXX   – Partner A’s Capital A/c              | XXXX             |   – Partner A’s Capital A/c     | XXXX   – Partner B’s Capital A/c              | XXXX             |   – Partner B’s Capital A/c     | XXXX                                                             XXXX                                                                      XXXX 3. Realisation Account Used in Dissolution of Partnership Dr.                     **Realisation Account**                                   Cr. ———————————————————————————————— Particulars                              | Amount (₹)       | Particulars                     | Amount (₹) ———————————————————————————————— To Assets transferred (Book Value)       | XXXX             | By Liabilities transferred      | XXXX To Expenses of Realisation                     | XXXX             | By Cash/Bank (Assets sold)  | XXXX To Partners’ Capital                               l                            | By Partner’s Capital)             | XXXX (Loss on Realisation)                                                                (Profit on Realisation                                                                |   XXXX  | By Cash/Bank (Payment of Liabilities) | XXXX ————————————————————————————————                                                                  | XXXX             |                                                        |XXXX Journal entries for the dissolution of a partnership, with included Assumptions: 1. Transfer of Assets to the Realization Account In this entry, all the assets are transferred to the Realization Account. Particulars Debit (₹) Credit (₹) Realization A/c ₹180,000 To Cash A/c ₹50,000 To Debtors A/c ₹40,000 To Stock A/c ₹30,000 To Building A/c ₹60,000 Narration: Transfer of assets to Realization A/c. 2. Transfer of Liabilities to the Realization Account In this entry, all the liabilities (creditors and partner loans) are transferred to the Realization Account. Particulars Debit (₹) Credit (₹) Creditors A/c ₹70,000 Loan from B A/c ₹20,000 To Realization A/c ₹90,000 Narration: Transfer of liabilities to Realization A/c. 3. Sale of Assets If assets are sold for ₹160,000 (example), the journal entry will record the sale. Particulars Debit (₹) Credit (₹) Cash A/c ₹160,000 To Realization A/c ₹160,000 Narration: Realization of assets through sale for ₹160,000. 4. Profit or Loss on Realization After the sale of assets and settling liabilities, any profit or loss on realization is determined. Example: Particulars Debit (₹) Credit (₹) Realization A/c ₹10,000 To A’s Capital A/c ₹6,000 To B’s Capital A/c ₹4,000 Narration: Profit on realization transferred to partners in the ratio 3:2. 5. Realization of Loss (if applicable) In case of a loss on realization, the entry would be reversed, with the loss debited to the partners’ capital accounts. Example: Particulars Debit (₹) Credit (₹) A’s Capital A/c ₹6,000 B’s Capital A/c ₹4,000 To Realization A/c ₹10,000 Narration: Loss on realization transferred to partners in the ratio 3:2. 6. Payment of Liabilities After realizing assets, liabilities such as creditors and partner loans are paid off. Particulars Debit (₹) Credit (₹) Creditors A/c ₹70,000 To Cash A/c ₹70,000 Narration: Payment made to creditors. Particulars Debit (₹) Credit (₹) Loan from B A/c ₹20,000 To Cash A/c ₹20,000 Narration: Payment made to Partner B’s loan. 7. Distribution of Remaining Cash Among Partners After settling all liabilities, any remaining cash is distributed between the partners based on their capital accounts. Example: Particulars Debit (₹) Credit (₹) A’s Capital A/c ₹42,000 B’s Capital A/c ₹28,000 To Cash A/c ₹70,000 Narration: Cash distributed to A and B in the ratio 3:2. Summary of Journal Entries for Dissolution: Particulars Debit (₹) Credit (₹) Realization A/c (for assets) ₹180,000 To Cash A/c ₹50,000 To Debtors A/c ₹40,000 To Stock A/c ₹30,000 To Building A/c ₹60,000 Realization A/c (for

teacher student discussion
Career

“Teacher-Student Discussion: Why Choosing Commerce After 10th Grade is the Smartest Career Move

Teacher: Good morning, everyone! Today, let’s talk about a choice that could shape your future—why choosing commerce after 10th grade might be one of the smartest decisions you’ll ever make. So, when you hear “commerce,” what’s the first thing that pops into your mind? Question NO. 1 Student: Sir, I think of businesses, banks, and maybe people in suits. But I’m still confused. Everyone says science is the way to go for a better career. What makes commerce special? Teacher: I understand your hesitation. Many people think of commerce as just business or finance, but it’s so much more than that. Think of commerce as the powerhouse that drives economies, and right now, India’s economy is growing faster than ever before. In fact, India is one of the world’s fastest-growing economies, and that means there’s a massive demand for professionals who understand how businesses work, how financial systems operate, and how the global economy is evolving. “Business is all about identifying gaps in the market and finding solutions to fill them” Commerce isn’t just a stream—it’s the backbone of a modern economy. Whether it’s the rise of tech companies, the growth of startups, or India’s expanding role in global trade, commerce is at the heart of it all. You’re not just learning to balance books; you’re learning to become a part of the engine that will drive India forward in the next few decades. Question NO. 2 Student: That sounds interesting, but what if I don’t want to be a traditional businessman? Is commerce still for me? Teacher: Absolutely! Commerce isn’t just about running a business; it’s about creating solutions for the challenges of a growing economy. India is evolving, and with it, new opportunities are emerging every day. Want to work in tech? Dive into GST, IT, fintech. Dream of building something impactful? Start an e-commerce platform or become a digital marketing expert. In fact, India’s booming digital space and startup ecosystem are creating thousands of new jobs every year, many of which require a strong commerce foundation. From Chartered Accountant to Investment Banker, Marketing Specialist to Entrepreneur, commerce has something for everyone. And if you’re more of a “create my own path” kind of person, this stream gives you the foundation to start your own venture, whether it’s a tech startup or a handmade craft business. It’s not just about running businesses; it’s about solving problems, making decisions, and creating value. Imagine yourself as an architect—not of buildings, but of opportunities. That’s commerce. Question NO. 3 Student: I get it, but what about the tough courses like Chartered Accountancy? Isn’t it way too hard? Teacher: Yes, Chartered Accountancy can be tough, but think of it like building a skyscraper—it requires patience, skill, and perseverance. And like any skyscraper, once it’s built, the view from the top is worth it. But here’s the real beauty of commerce: it offers a wide array of paths. If CA doesn’t appeal to you, there’s still B.Com (Hons), MBA, financial analysis, GST consultancy, IT consultancy or even new fields like data analytics and business intelligence that are in high demand, especially in India’s tech-driven economy and many more If we keep counting, the evening will turn into the night! Question NO. 4 Student: Okay, but what will I actually study in commerce? Will it be like traditional subjects, or is there something more? Teacher: Great question! In commerce, you’ll study subjects like Accountancy, Business Studies, Economics, and Mathematics. But let’s take it further: Accountancy isn’t just about balancing books; it’s the foundation of financial management and investment decisions that drive businesses. Business Studies? It’s not just about understanding management; it’s about understanding how to lead organizations in an increasingly competitive, globalized market. ; it’s about solving problems, making decisions, and creating value. Economics will give you insight into the pulse of India’s economy as it grows and adapts to global trends. And Mathematics, especially if you’re studying business math or statistics, helps you decode complex business decisions and data-driven strategies that today’s companies rely on. These subjects are your toolkit to thrive in India’s fast-growing economy, where demand for skilled professionals in commerce is skyrocketing.  Now a days The National Skills Qualification Framework (NSQF) integrates skill-based learning with academics, offering Class 11 Commerce students practical knowledge for better employability. Students can choose from NSQF vocational subjects such as Banking and Financial Services, Retail Operations, Accounting and Taxation, Marketing and Salesmanship, Office Operations, Entrepreneurship, E-Commerce, and IT Skills for Business. These subjects focus on practical skills like bookkeeping, GST, sales, digital marketing, office management, and financial operations, aligning with industry needs and preparing students for real-world challenges. This blend of academic and vocational learning enhances career readiness and entrepreneurial abilities. Question NO. 5 Student: But what if I change my mind later? Won’t commerce narrow my career choices? Teacher: Not at all! In fact, commerce opens up countless doors. India is a rapidly evolving economy, and with that comes new industries and opportunities. Whether it’s working in law, where corporate law and tax law are booming, or jumping into new-age fields like AI, blockchain, and data science, commerce will give you the flexibility to transition into these areas. And with India’s rise as a global economic player, the world needs more professionals who understand business dynamics, global trade, and financial management. You’ll be ready to meet the needs of an ever-expanding job market, and be a part of shaping the future. Question NO. 6 Student: That makes sense! But how do I convince my parents? They think science leads to more secure jobs. Teacher: I understand that, and it’s a common concern. But you can tell them that commerce isn’t just about securing a job; it’s about creating value in India’s rapidly expanding economy. The demand for commerce graduates is rising because India is becoming a global economic powerhouse, and every sector—from tech startups to multinational corporations—needs professionals who understand finance, economics, and business strategy. Show them examples of successful professionals like Ratan

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Career

Employment opportunity for Graduate(B.com)/Post Graduate (M.Com/MBA/CA/CS/CWA/CAIIB)/12th commerce

Are you a passionate and driven individual looking for exciting career opportunities? Whether you’re a recent graduate or a seasoned postgraduate, the world of commerce offers a multitude of pathways. If you have a degree in B.Com, M.Com, or specialized qualifications like MBA, CA, CS, CWA, or CAIIB, we have a range of opportunities that will help you take your career to the next level. Our platform connects you with top employers in fields like accounting, finance, taxation, corporate law, and business management. Whether you’re aiming for roles in finance management, audit, consulting, banking, or corporate governance, we offer a range of positions that match your skills and aspirations. Qualifications we cater to: Explore the Latest Job Openings in Commerce 1.RITES – Assistant manager and section officer online form Click here for Notification 2.Bharat Electronics Limited (BEL) – B.com apprentice Click here for Notification 3.Directorate General of Armed Forces Medical Services (DGAFMS) – Accountant Click here for Notification Panipat Urban Co-Op bank Ltd (PUCB) – Jr Accountant, Clerk-cum-Cashier click here for Notification Ahmedabad Mercantile Co-operative Bank Ltd (AMCO Bank) – Manager, Asst General Manager & Chartered Accountant click here for Notification

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How Commerce Students Can Achieve a 90% Score in Board Exams

How Commerce Students Can Achieve a 90% Score in Board Exams For many commerce students, achieving a score of 90% or higher in board exams is a goal worth striving for. Although it may seem like a daunting task, with the right approach, dedication, and efficient study techniques, it is entirely possible. Here’s a detailed guide to help you reach this goal and maximize your potential. 1. Know Your Syllabus Inside Out Before diving into your preparation, it’s essential to get acquainted with the entire syllabus for each subject. Commerce students typically focus on subjects like Accountancy, Business Studies, Economics, and either Mathematics or Entrepreneurship. By breaking down the syllabus into smaller parts, you can focus your energy on high-weightage topics while ensuring that no chapter is left out. Personal Insight: The official CBSE syllabus document provides a comprehensive outline of what needs to be covered. It’s important to cross-reference your notes and textbooks with this syllabus to avoid missing any critical topics. 2. Create a Practical Study Plan A study plan is the backbone of any successful exam preparation. Divide your day into focused sessions for each subject, factoring in the difficulty level of each. Prioritize subjects where you need more practice, but also make time for regular breaks to maintain a balanced approach. Personal Insight: A simple but effective study plan could involve tackling Accountancy problems in the morning when your mind is fresh, followed by Business Studies revision in the afternoon, and closing the day with Economics or Mathematics practice. 3. Conquer Accountancy Accountancy is often the subject where commerce students can shine. The key to mastering it lies in consistent practice. Focus on important topics such as the principles of partnership, admission of a partner, and dissolution. Regularly solve journal entries, ledger postings, and rectifications to strengthen your understanding. Personal Insight: Utilize resources like NCERT textbooks and T.S. Grewal’s books, which are known for their comprehensive and clear explanations. Tackling past exam papers also sharpens your problem-solving skills and boosts confidence. 4. Master Business Studies with Application Business Studies requires a deep understanding of both theoretical concepts and their real-world applications. Topics like Staffing, Directing, and Controlling are frequently tested. Use bullet points, diagrams, and flowcharts to structure your answers effectively. Personal Insight: When answering case study-based questions, always connect your response directly to the scenario provided. This shows examiners that you not only know the theory but can apply it in practical situations. 5. Economics – Bridging Theory and Practice Economics combines both conceptual knowledge and numerical aptitude. Strengthen your grasp of Macroeconomics, focusing on topics like National Income, Money and Banking, and Government Budgets. For Indian Economic Development, pay attention to historical economic trends and data interpretation. Personal Insight: Practice solving numerical questions on a regular basis and revise important graphs and concepts. This will not only improve your understanding but will also save precious time during the exam. 6. Polish Your Writing Skills In many commerce subjects, especially Business Studies and Economics, how you present your answers can influence your marks. Writing clearly, using bullet points where applicable, and maintaining a logical flow of ideas is crucial. Don’t forget to highlight key terms and concepts. Personal Insight: Always aim to start with a brief introduction and summarize your points at the end of each answer. This not only makes your answer look organized but also helps the examiner follow your thought process. 7. Practice with Past Year Papers To truly gauge your preparation level, solving past year question papers is invaluable. This exercise gives you a clear idea of the exam format and helps you improve your time management skills. Try solving these papers within the prescribed time limit. Personal Insight: After solving the papers, always go through the marking schemes to understand how examiners evaluate answers. This will help you fine-tune your writing style and approach to questions. 8. Embrace MCQs and Case Studies MCQs and case study-based questions now carry significant weightage in the CBSE exams. Regular practice of MCQs can help you improve your speed and accuracy. For case studies, read the questions carefully and break them down step by step to find logical solutions. Personal Insight: Case study questions often test your analytical abilities, so practice interpreting case scenarios in different ways to be prepared for any surprises in the exam. 9. Revise Actively Regular revision is the key to retaining information. Set aside the last few weeks before the exam for an in-depth review. Use your own notes, flashcards, and mind maps to quickly refresh important concepts. Personal Insight: During revision, focus on weak areas and actively try to improve them. Group study sessions can also help, as discussing concepts with peers often provides new perspectives. 10. Maintain Your Health and Mindset While academic preparation is important, your physical and mental health should not be overlooked. Ensure you get enough rest, eat well-balanced meals, and engage in light exercise. Positive self-talk and maintaining a calm mindset will help you perform better in exams. Personal Insight: Managing stress effectively is as important as studying hard. Take breaks when needed, and remember that a healthy body fosters a sharp mind. 11. Seek Help When Needed If you find yourself struggling with a particular topic, don’t hesitate to ask for help. Reach out to teachers, classmates, or use online resources. Platforms like YouTube, educational blogs, and online courses can offer additional explanations that might help clarify difficult concepts. Personal Insight: You don’t have to go through the preparation process alone. Collaboration often leads to better understanding, so be open to learning from others. Recommended Resources Final ThoughtsAchieving 90% in commerce board exams isn’t just about working hard; it’s about working smart. By breaking down the syllabus, using effective study methods, and focusing on both academic and mental well-being, success becomes a tangible goal. Stay motivated, stay focused, and trust the process—your efforts will pay off. References Good luck with your preparations—remember, consistency and dedication will lead you to success!

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