NIOS 320 — Accountancy

This is a complete, free study companion for NIOS 320 — Accountancy — built around what the exam actually asks. The topics examiners repeat most are Dissolution of Partnership and Dissolution of Firm, Preparation of Cash Flow Statement, and Payroll and Elements Used in Payroll Calculation. The syllabus runs to 38 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 NIOS body, so always confirm the current syllabus and exam dates on the official NIOS website before you rely on them.

Key information

Subject code: 320
Level: Class 12
Programme: CL12
Stream: Commerce
Exam: On-Demand Examination System
Conducted by: National Institute of Open Schooling (NIOS)

Most important topics (by past-paper frequency)

#	Topic	Times asked	Likelihood
1	Dissolution of Partnership and Dissolution of Firm	34	6.9%
2	Preparation of Cash Flow Statement	34	6.9%
3	Payroll and Elements Used in Payroll Calculation	30	6.1%
4	Accounting Treatment of Forfeiture of Shares	29	5.9%
5	Revaluation of Assets and Liabilities	28	5.7%
6	Liquidity Ratios and Short-Term Solvency	27	5.5%
7	Classification of Accounting Errors	26	5.3%
8	Preparation of Trading Account and Profit and Loss Account	25	5.1%
9	Issue of Shares at Premium	25	5.1%
10	Share Capital Meaning and Types	24	4.8%
11	Elements and Formatting of a Chart	24	4.8%
12	Admission of a Partner and New Profit Sharing Ratio	23	4.6%

Based on how often each topic appeared in official previous-year question papers.

Exam paper pattern

Section	What to expect
Q1-Q14	Answer all 14 multiple choice questions. Each question has four alternatives and carries 1 mark.
Q15-Q20	Answer all six questions. Each question contains two one-word, identification, or completion parts carrying 1 mark each.
Q21-Q24	Answer all four questions. Each question contains four very short parts such as naming, identifying, stating the term, or giving a one-word answer.
Q25-Q28	Answer all four brief conceptual questions. Each question carries 2 marks and may include an internal choice.
Q29-Q33	Answer all five short-answer questions. Each question carries 3 marks and may ask for explanation, calculation, or short treatment with internal choice where shown.
Q34-Q36	Answer all three practical or data-based accounting questions. Each question carries 5 marks and may require preparing accounts, journal entries, or solving from the given statements and data.
Q37-Q47	Attempt one option only in Section B. In the chosen option, answer six 1-mark objective questions, one 2-mark completion question, two 2-mark brief questions, one 3-mark explanatory question, and one 5-mark practical or longer question.

What you will study (chapters)

Chapter 1: Accounting - An Introduction
Chapter 2: Accounting Concepts
Chapter 3: Accounting Conventions and Standards
Chapter 4: Accounting for Business Transactions
Chapter 5: Journal
Chapter 6: Ledger
Chapter 7: Cash Book
Chapter 8: Special Purpose Books
Chapter 9: Trial Balance
Chapter 10: Bills of Exchange
Chapter 11: Bank Reconciliation Statement
Chapter 12: Errors and their Rectification
Chapter 13: Computer and Computerised Accounting System
Chapter 14: Not for Profit Organisations - An Introduction
Chapter 15: Accounts from Incomplete Records
Chapter 16: Financial Statements (Not for Profit Organisations)
Chapter 17: Provision and Reserves
Chapter 18: Financial Statements - II
Chapter 19: Depreciation
Chapter 20: Financial Statements - An Introduction
Chapter 21: Financial Statements - I
Chapter 22: Partnership - An Introduction
Chapter 23: Dissolution of a Partnership Firm
Chapter 24: Admission of a Partner
Chapter 25: Retirement and Death of a Partner
Chapter 26: Forfeiture of Shares
Chapter 27: Issue of Debentures
Chapter 28: Reissue of Forfeited Shares
Chapter 29: Issue of Shares
Chapter 30: Company - An Introduction
Chapter 31: Financial Statements Analysis - An Introduction
Chapter 32: Accounting Ratios - I
Chapter 33: Accounting Ratios - II
Chapter 34: Cash Flow Statement
Chapter 35: Graphs and Charts for Business
Chapter 36: Database Management System for Accounting
Chapter 37: Electronic Spread Sheet
Chapter 38: Use of Spread Sheet in Business Application

Official textbook

NIOS 320 — Accountancy — official textbook / study material — Free download from the official source.

How to study NIOS 320 — Accountancy and score well

Start with the highest-frequency topics — In NIOS 320 — Accountancy, Dissolution of Partnership and Dissolution of Firm, Preparation of Cash Flow Statement, Payroll and Elements Used in Payroll Calculation, and Accounting Treatment of Forfeiture of Shares appear again and again in past papers. Master these first — they return the most marks for the time you put in.
Learn how the paper is set — The NIOS 320 — Accountancy paper is split into sections (see the exam pattern above). Knowing the marks each section carries tells you how long to spend on each — then practise to that timing.
Practise with previous-year papers — Solve the last 5–10 years of NIOS NIOS 320 — 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 38 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 NIOS 320 — 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 NIOS 320 — Accountancy?

Based on past papers, the most frequently asked topics include Dissolution of Partnership and Dissolution of Firm, Preparation of Cash Flow Statement, Payroll and Elements Used in Payroll Calculation. The full ranked list with how often each appears is in the "Most important topics" section above.

Where can I download NIOS 320 — Accountancy previous-year question papers?

Official NIOS previous-year question papers are available on the official NIOS 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 NIOS 320 — 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 NIOS 320 — Accountancy syllabus and past papers can quiz you on the most-asked topics and show you exactly what to revise.