Book Keeping & Accountancy

This is a complete, free study companion for Book Keeping & Accountancy — built around what the exam actually asks. The topics examiners repeat most are Partnership admission with goodwill (Revaluation Account + Partners’ Capital + New Balance Sheet), Dissolution of partnership (Realisation Account + Partners’ Capital + Bank Account), and Trading & Profit/Loss & Balance Sheet (final accounts) using Trial Balance with adjustments. The syllabus runs to 20 chapters. Below you'll find the full topic-frequency ranking, the exam paper pattern, every chapter, a step-by-step study plan, and the official downloads — everything in one place.

Everything here is free. We're an independent student resource, not the official Maharashtra Board body, so always confirm the current syllabus and exam dates on the official Maharashtra Board website before you rely on them.

Key information

Level: Class 12
Programme: CL12
Stream: Arts, Commerce
Exam: Higher Secondary Certificate
Conducted by: MSBSHSE

Frequently examined topics: Partnership admission with goodwill (Revaluation Account + Partners’ Capital + New Balance Sheet), Dissolution of partnership (Realisation Account + Partners’ Capital + Bank Account), Trading & Profit/Loss & Balance Sheet (final accounts) using Trial Balance with adjustments, Income and Expenditure Account + Balance Sheet from Receipts and Payments (with adjustments), Issue of shares payable on application/allotment/calls (preference/equity) + company journal entries, Retirement/Death of partner adjustments (P&L Adjustment + Capital Accounts; executor capital where applicable), Goodwill valuation logic used in partnership admission/retirement/death problems, Depreciation/appreciation of assets during revaluation/retirement/death/dissolution (asset value adjustments), R.D.D. / Provision for doubtful debts on sundry debtors (created/maintained in revaluations), Executor’s capital account / amount payable to executor on death of partner (capital settlement concept), Computerised Accounting System (CAS): importance/features/meaning, Partnership revaluation adjustments combining: goodwill + asset changes + stock changes + R.D.D..

What you will study (chapters)

Chapter 1: Introduction to Book Keeping & Accounting
Chapter 2: Accounting Principles, Concepts and Conventions
Chapter 3: Accounting Equation and Double Entry System
Chapter 4: Journal and Subsidiary Books
Chapter 5: Ledger, Posting and Trial Balance
Chapter 6: Cash Book and Bank Reconciliation Statement
Chapter 7: Bills of Exchange and Promissory Notes
Chapter 8: Rectification of Errors and Adjusting Entries
Chapter 9: Depreciation: Methods and Accounting Treatment
Chapter 10: Provisions, Reserves and Contingent Liabilities
Chapter 11: Partnership Fundamentals and Profit Sharing
Chapter 12: Admission of a Partner: Revaluation and Goodwill
Chapter 13: Retirement and Death of a Partner: Adjustment and Settlement
Chapter 14: Dissolution of Partnership: Accounts and Settlement
Chapter 15: Issue, Allotment and Forfeiture of Shares
Chapter 16: Issue and Redemption of Debentures
Chapter 17: Company Final Accounts: Preparation and Adjustments
Chapter 18: Trading, Profit & Loss Account and Balance Sheet (with Adjustments)
Chapter 19: Financial Statement Analysis: Ratios and Interpretation
Chapter 20: Cash Flow Statement: Preparation and Analysis

How to study Book Keeping & Accountancy and score well

Start with the highest-frequency topics — In Book Keeping & Accountancy, Partnership admission with goodwill (Revaluation Account + Partners’ Capital + New Balance Sheet), Dissolution of partnership (Realisation Account + Partners’ Capital + Bank Account), Trading & Profit/Loss & Balance Sheet (final accounts) using Trial Balance with adjustments, and Income and Expenditure Account + Balance Sheet from Receipts and Payments (with adjustments) appear again and again in past papers. Master these first — they return the most marks for the time you put in.
Practise with previous-year papers — Solve the last 5–10 years of Maharashtra Board Book Keeping & Accountancy papers under timed, exam-like conditions. Past papers show exactly which topics repeat and how questions are worded.
Revise actively, not passively — Write a one-page summary for each of the 20 chapters — key definitions, formulas and the points examiners reward — then re-test yourself instead of re-reading.
Mark your answers with the official scheme — After each practice paper, score yourself against the official marking scheme. It shows how marks are awarded step-by-step, so you learn to present answers the way examiners expect.

Exam tips: how to score higher in Book Keeping & Accountancy

Where students lose marks: rushing the high-weightage questions, skipping the steps the marking scheme rewards, and saving easy sections for last. Read the whole paper first, attempt your strongest section early to bank marks, and always show your working.

Manage your time: split your time in proportion to the marks each section carries, keep a few minutes at the end to check, and never leave a question blank — a partial, structured answer still earns partial marks.

Frequently asked questions

What are the most important topics in Book Keeping & Accountancy?

Based on past papers, the most frequently asked topics include Partnership admission with goodwill (Revaluation Account + Partners’ Capital + New Balance Sheet), Dissolution of partnership (Realisation Account + Partners’ Capital + Bank Account), Trading & Profit/Loss & Balance Sheet (final accounts) using Trial Balance with adjustments. The full ranked list with how often each appears is in the "Most important topics" section above.

Where can I download Book Keeping & Accountancy previous-year question papers?

Official Maharashtra Board previous-year question papers are available on the official Maharashtra Board website. Open the Question Papers section for the direct link, plus the exam pattern and the topics that repeat most.

How can I prepare for Book Keeping & Accountancy faster?

Start with the highest-frequency topics, learn the exam pattern so you know how each section is marked, and practise with past papers. A subject-aware study tutor can quiz you on exactly these topics.

A Gyani AI tutor trained on the Book Keeping & Accountancy syllabus and past papers can quiz you on the most-asked topics and show you exactly what to revise.