NIOS Class 12 Accountancy 320 Notes 2026 – Chapter Wise Short Notes with Solved Formats
These NIOS Class 12 Accountancy 320 Notes 2026 are prepared by studying the complete Accountancy (320) textbook and analysing every lesson of the senior secondary course. Each chapter is condensed into clear, easy short notes with formats, journal entries and worked steps so you revise faster and score more in the numerical paper.
On this page you can read genuine sample pages from our notes, see the full chapter list and judge the quality yourself before you request the complete set. If you are choosing subjects, this paper sits within our wider NIOS Class 12 Notes collection for the commerce stream.
NIOS Accountancy 320 Notes at a Glance
| Detail | Information |
|---|---|
| Subject and code | Accountancy, code 320 (Senior Secondary) |
| Class | NIOS Class 12 |
| Session | 2026 (April to May and October to November exams) |
| Medium | English and Hindi |
| Format | Chapter-wise short notes with formats, entries and solved illustrations |
| Chapters | 23 lessons across accounting, partnership, company and IT modules |
| Preview | Sample pages shown below at no cost |
What Is NIOS Accountancy 320 and Who These Notes Are For
NIOS Accountancy 320 is the senior secondary Accountancy subject offered by the National Institute of Open Schooling under subject code 320. It is a numerical, format-driven paper of 100 marks that moves from basic bookkeeping to partnership accounts, company accounts, ratios and cash flow, along with computerised accounting topics.
These notes suit NIOS Class 12 learners who want a fast, dependable revision resource instead of re-reading the whole book. They help self-study students, working learners and anyone who finds numericals hard, by turning each chapter into clear formats and step-by-step solved examples.
NIOS Class 12 Accountancy 320 Notes Complete Chapter List
Our notes follow the official Accountancy 320 lesson order laid out in the NIOS Class 12 Syllabus, so every examinable chapter is covered. The table below lists all 23 chapters of the subject with the key focus condensed inside each one.
| # | Lesson and Chapter | Key Focus in Our Notes |
|---|---|---|
| 1 | L-4 Accounting for Business Transactions | Source documents, vouchers and the accounting equation |
| 2 | L-5 Journal | Recording transactions as journal entries with narration |
| 3 | L-6 Ledger | Posting entries and balancing ledger accounts |
| 4 | L-12 Errors and their Rectification | Types of errors and rectifying entries |
| 5 | L-13 Computer and Computerised Accounting System | Features and benefits of computerised accounting |
| 6 | L-16 Financial Statements: An Introduction | Meaning, users and objectives of financial statements |
| 7 | L-17 Financial Statements I | Trading and profit and loss account |
| 8 | L-18 Financial Statements II | Balance sheet with common adjustments |
| 9 | L-19 Not for Profit Organisations: An Introduction | Features and key terms of NPOs |
| 10 | L-20 Financial Statements of NPOs | Receipts and payments and income and expenditure account |
| 11 | L-21 Accounts from Incomplete Records | Single entry system and statement of affairs |
| 12 | L-23 Admission of a Partner | New ratio, goodwill and revaluation of assets |
| 13 | L-24 Retirement and Death of a Partner | Gaining ratio and settlement of dues |
| 14 | L-25 Dissolution of a Partnership Firm | Realisation account and final settlement |
| 15 | L-27 Issue of Shares | Share capital and issue at par or premium |
| 16 | L-28 Forfeiture of Shares | Accounting treatment on forfeiture |
| 17 | L-29 Reissue of Forfeited Shares | Reissue entries and capital reserve |
| 18 | L-32 Accounting Ratio I | Liquidity and solvency ratios |
| 19 | L-33 Accounting Ratio II | Activity and profitability ratios |
| 20 | L-34 Cash Flow Statement | Operating, investing and financing activities |
| 21 | L-36 Use of Spreadsheet in Business | Spreadsheets applied to accounting work |
| 22 | L-37 Graphs and Charts for Business | Presenting business data with graphs and charts |
| 23 | L-38 Database Management System for Accounting | Database concepts used in accounting |
Sample Pages from Our NIOS Accountancy 320 Notes
Below is a genuine extract from Lesson 4 Accounting for Business Transactions, shown exactly as it appears in our notes. Read it to check the depth, the formats and the solved illustration before you request the complete set. This preview covers a few pages, and the full notes carry every chapter in the same style.
Sample Page Preview
Lesson 4 Accounting for Business Transactions
4.1 Source Documents and Accounting Vouchers
What is a Business Transaction?
- A business transaction is any activity that involves the exchange of values between two parties.
- Every transaction involves two aspects — Give and Take. The Debit represents the Take aspect and Credit represents the Give aspect.
- Example: When a computer is purchased for cash, delivery of the computer = Take aspect, payment of cash = Give aspect.
- Only activities involving cash or monetary value are called business transactions. Non-cash activities (like instructing workers) are NOT business transactions.
Source Documents
- All business transactions must be backed by documentary evidence. Documents that provide this proof are called Source Documents or Vouchers.
- A source document is the first record prepared for a transaction and forms the basis for entries in books of accounts.
- Examples: Cash memo (cash sale), Invoice (credit sale), Receipt (cash payment), Bills.
Accounting Voucher
- A Voucher is documentary evidence in support of a transaction. It is prepared by the accountant and countersigned by an authorised person.
- All recording in books of accounts is done on the basis of accounting vouchers.
- A transaction with one debit and one credit is called a simple transaction; the voucher for this is called a Transaction Voucher.
Types of Accounting Vouchers
| Type | Sub-Type | Purpose |
|---|---|---|
| Cash Voucher | Debit Voucher | For Cash Payments |
| Cash Voucher | Credit Voucher | For Cash Receipts |
| Non-Cash Voucher | Transfer Voucher | For Non-Cash (Credit) Transactions |
Illustration 1 (solved)
On September 21, 2014 M/s Mohit Chemicals paid 40,000 in cash and the balance amount of 1,60,000 by Banker's Cheque to HT Chemicals Ltd. Prepare a Debit Voucher.
Mohit Chemicals — Debit Voucher (No. 22, Date 21.9.2014)
| S.No. | Credit Account | Amount (₹) |
|---|---|---|
| 1. | Cash | 40,000 |
| 2. | Bank | 1,60,000 |
| Debit Account: HT Chemicals Ltd | 2,00,000 |
End of sample preview. The full Lesson 4 continues with credit vouchers, the accounting equation and more, and every chapter listed above follows in the same solved format.
NIOS Accountancy 320 Exam Pattern and Passing Marks
Accountancy 320 is assessed through a three hour theory paper of 100 marks together with a compulsory Tutor Marked Assignment. It does not have a separate practical examination, and the computerised accounting lessons are tested within the same written paper.
The paper mixes objective questions, short answers and long numerical questions, and the numerical chapters on financial statements, partnership and company accounts carry the highest weight. To pass, a learner must score at least 33 per cent in the external examination and 33 per cent in aggregate, as stated by NIOS.
| Component | Details |
|---|---|
| Theory paper | 100 marks, three hours, written |
| Practical | None for Accountancy 320 |
| TMA weightage | 20 per cent of theory marks (internal assessment) |
| High-weight areas | Financial statements, partnership and company accounts |
| Passing marks | 33 per cent in exam and 33 per cent aggregate |
Pattern verified against the official NIOS FAQ and the NIOS Accountancy 320 course structure. The way TMA marks are shown on the marksheet was revised from the October 2024 session, so check the current-session display on the official NIOS portal before exams.
Why Students Choose Our NIOS Accountancy 320 Notes
We did not summarise from a guidebook. Our team worked through the complete Accountancy 320 book, solved the illustrations and rewrote each lesson as short, exam-ready notes. That hands-on work is why the formats stay correct and the focus stays on what the paper rewards.
- Built from the full book: every lesson analysed and every format checked.
- Numerical-ready: journal entries, ledgers and statements shown step by step.
- Exam-focused: extra weight on partnership, company and financial statement chapters.
- Both mediums: available in English and Hindi to match your paper.
- Reviewed: checked by an experienced NIOS counsellor before release.
You can pair these notes with the rest of our NIOS Study Material to build a complete, subject-by-subject plan for the commerce stream.
How to Prepare Accountancy 320 with These Short Notes
Start with the recording chapters, journal, ledger and vouchers, because every later topic depends on them. Learn each format first, then solve one illustration from the notes before moving on, since Accountancy rewards accurate formats and shown working, not just final answers.
Give the most practice time to financial statements, partnership and company accounts, as these carry the majority of numerical marks. Before you begin, confirm your chapters against the wider NIOS Syllabus so you revise only what the current session tests.
How to Get the Full NIOS Class 12 Accountancy 320 Notes 2026
If the sample above matches what you need, you can request the complete notes for all 23 chapters. Send us a message on WhatsApp with your subject and medium, and we will share the details and how to receive the full set.
- Tap the WhatsApp button below.
- Tell us your class, subject (Accountancy 320) and preferred medium.
- We confirm the complete notes and delivery details.
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NIOS Accountancy 320 Notes Frequently Asked Questions
Are the NIOS Class 12 Accountancy 320 Notes updated for 2026?
Yes, these notes are prepared for the 2026 session and follow the current Accountancy 320 lesson structure. Our team reviews the content against the latest NIOS textbook and exam pattern before release, so the chapters, formats and solved examples stay aligned with what the paper asks. If NIOS revises the syllabus, we update the affected lessons accordingly.
Do these NIOS Accountancy 320 notes cover the full syllabus?
Yes, the complete notes cover all 23 chapters of the Accountancy 320 course, from accounting for business transactions through partnership accounts, company accounts, ratios, cash flow and the computerised accounting lessons. The sample on this page is a short preview from Lesson 4, while the full set condenses every chapter into the same clear, solved short-note format.
Do the NIOS Accountancy 320 notes include solved numerical examples?
Yes, the Accountancy 320 notes are built around solved numericals, not just theory. Each chapter shows the correct format first and then a worked illustration with full step-by-step working, covering journal entries, ledgers, financial statements, partnership adjustments and company accounts. This is what helps you present answers the way NIOS examiners award marks, which matters most in a numerical paper.
In which medium are the NIOS Accountancy 320 notes available?
The Accountancy 320 notes are available in both English and Hindi, so you can study in whichever medium you sit the paper in. Tell us your preferred medium when you message us, and we will share the matching version. The formats, entries and solved illustrations stay the same across both, so the quality you see in the sample carries over fully.
What is the passing mark for NIOS Accountancy 320?
You must score at least 33 per cent in the external theory examination and 33 per cent in aggregate to pass NIOS Accountancy 320, as stated by NIOS. The paper is worth 100 marks over three hours, and the Tutor Marked Assignment adds internal assessment weightage. Regular practice of formats and numericals from short notes is a reliable way to cross this mark comfortably.
Disclaimer
Disclaimer: Unnati Educations is an independent academic support platform and is not affiliated with, endorsed by or associated with the National Institute of Open Schooling (NIOS). NIOS names, subject names and codes are used only for identification and reference. Always confirm the current syllabus, exam pattern and dates on the official NIOS website.
Ready to start? Get the full Accountancy 320 notes today.
Sources: Official NIOS FAQ, rcdelhi.nios.ac.in, and the NIOS Accountancy 320 course structure. Author Prateek Talwar. Reviewer Jyoti Sharma, Senior NIOS Counsellor.
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