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CBSE • कक्षा XII • Accountancy • अध्याय 9
अनुमानित समय: 45 Mins
प्रगति: अध्ययनरत

लेखांकन अनुपात

In CBSE Class 12 Accountancy, "Accounting Ratios" provides an exhaustive master resource on financial metric computation and corporate diagnostic analysis. This comprehensive chapter covers the classification of financial ratios into four grand families: Liquidity Ratios (Current Ratio [ideal 2:1], Quick/Acid-Test Ratio [ideal 1:1]), Solvency Ratios (Debt-to-Equity Ratio, Total Assets to Debt Ratio, Proprietary Ratio, Interest Coverage Ratio), Activity / Turnover Ratios (Inventory Turnover, Trade Receivables Turnover, Trade Payables Turnover, Working Capital Turnover), and Profitability Ratios (Gross Profit Ratio, Operating Ratio, Operating Profit Ratio, Net Profit Ratio, Return on Investment / ROCE) aligned with the 2026–27 CBSE curriculum.

अध्याय CBT ऑनलाइन टेस्ट दें सभी अध्याय देखें
प्रस्तावना अध्याय अवधारणाएँ आर्थिक सूत्र एवं सिद्धांत अध्याय सारांश स्व-मूल्यांकन अभ्यास टेस्ट दें

How Can a Single Number Tell You if a Multi-Billion Dollar Company Will Survive the Next 30 Days?

When doctors diagnose a patient, they don't just look at total body weight—they measure blood pressure, pulse rate, cholesterol ratios, and oxygen saturation. In finance, a balance sheet may list ₹500 crore in assets, but if ₹490 crore is tied up in unsold inventory and factory cement while ₹80 crore in bank loan interest is due next Monday, the company is on the brink of liquidation! Accounting Ratios are the vital health signs of an enterprise. A Current Ratio of 0.8:1 warns of imminent liquidity default; an Interest Coverage Ratio below 1.0 means the business cannot even pay interest on its borrowings; and an Inventory Turnover Ratio of 12 times shows roaring customer demand. How do financial ratios synthesize complex financial statements into sharp mathematical diagnoses? This chapter masters ratio analysis.

यह अध्याय क्यों महत्वपूर्ण है

Ratio analysis forms a dedicated 4-mark and 6-mark section in CBSE Class 12 board examinations and is the primary analytical framework taught in MBA finance, CA, and CFA programs. Real-world corporate lenders will never approve a commercial credit facility without evaluating Debt-Equity and Interest Coverage ratios. Understanding the exact mathematical formulas, ideal benchmarks, and how specific business transactions increase, decrease, or leave ratios unchanged is an essential quantitative skill.

अध्ययन से पूर्व (आवश्यक ज्ञान)

  • Schedule III Balance Sheet and Statement of Profit & Loss structure from Chapter 7.
  • Cost of Goods Sold (COGS) and Operating Profit concepts from Class 11.
  • Basic arithmetic ratios and percentage algebra.

इस अध्याय के लक्ष्य

  • Calculate Liquidity Ratios: Current Ratio ($\text{CA} / \text{CL}$) and Quick / Acid-Test Ratio ($\text{QA} / \text{CL}$).
  • Calculate Solvency Ratios: Debt-Equity Ratio, Total Assets to Debt Ratio, Proprietary Ratio, and Interest Coverage Ratio.
  • Calculate Activity/Turnover Ratios: Inventory Turnover, Trade Receivables Turnover, Trade Payables Turnover, and Working Capital Turnover.
  • Calculate Profitability Ratios: Gross Profit Ratio, Operating Ratio, Operating Profit Ratio, Net Profit Ratio, and Return on Investment (ROCE).
  • Analyze transaction effects: Determine whether a given business transaction will increase, decrease, or have no effect on a specific ratio.

अध्याय रूपरेखा एवं प्रगति

1 1. Liquidity Ratios (Short-Term Sol...
2 2. Solvency Ratios (Long-Term Finan...
3 3. Activity / Turnover Ratios (Oper...
4 4. Profitability Ratios & Return on...

सम्पूर्ण सैद्धांतिक एवं वैचारिक अध्ययन

1. Liquidity Ratios (Short-Term Solvency)

Liquidity Formulas & Benchmarks
A. Current Ratio (Working Capital Ratio)
$$\text{Current Ratio} = \frac{\text{Current Assets}}{\text{Current Liabilities}} \quad [\text{Ideal Benchmark: } 2 : 1]$$
  • Current Assets (CA): Current Investments + Inventories (excluding Loose Tools & Stores/Spares!) + Trade Receivables (less Provision) + Cash & Cash Equivalents + Short-Term Loans + Other Current Assets.
  • Current Liabilities (CL): Short-Term Borrowings + Trade Payables + Other Current Liabilities + Short-Term Provisions.
B. Quick Ratio / Acid-Test Ratio
$$\text{Quick Ratio} = \frac{\text{Quick Assets}}{\text{Current Liabilities}} \quad [\text{Ideal Benchmark: } 1 : 1]$$ $$\text{Quick Assets (QA)} = \text{Current Assets} - \text{Inventories} - \text{Prepaid Expenses}$$

2. Solvency Ratios (Long-Term Financial Soundness)

Solvency Formulas
A. Debt-to-Equity Ratio
$$\text{Debt-to-Equity Ratio} = \frac{\text{Debt (Long-Term Debts)}}{\text{Equity (Shareholders' Funds)}} \quad [\text{Ideal Benchmark: } 2 : 1]$$
  • Debt: Long-Term Borrowings (Debentures, Term Loans) + Long-Term Provisions.
  • Equity: Share Capital + Reserves & Surplus.
B. Total Assets to Debt Ratio & Proprietary Ratio
$$\text{Total Assets to Debt Ratio} = \frac{\text{Total Assets}}{\text{Long-Term Debt}}$$ $$\text{Proprietary Ratio} = \frac{\text{Shareholders' Funds}}{\text{Total Assets}} \quad [\text{Expressed as pure ratio or percentage}]$$
C. Interest Coverage Ratio
$$\text{Interest Coverage Ratio} = \frac{\text{Net Profit Before Interest and Tax (NPBIT)}}{\text{Fixed Interest on Long-Term Debts}} \quad [\text{Expressed in Times}]$$

3. Activity / Turnover Ratios (Operational Velocity)

Turnover Formulas
A. Inventory Turnover Ratio (ITR)
$$\text{ITR} = \frac{\text{Cost of Revenue from Operations (COGS)}}{\text{Average Inventory}} \quad [\text{Expressed in Times}]$$ $$\text{Average Inventory} = \frac{\text{Opening Inventory} + \text{Closing Inventory}}{2}$$
B. Trade Receivables Turnover Ratio (TRTR)
$$\text{TRTR} = \frac{\text{Net Credit Revenue from Operations}}{\text{Average Trade Receivables (Debtors + B/R)}} \quad [\text{In Times}]$$ $$\text{Debt Collection Period (in Months/Days)} = \frac{12 \text{ Months} \text{ or } 365 \text{ Days}}{\text{TRTR}}$$
C. Working Capital Turnover Ratio
$$\text{Working Capital Turnover} = \frac{\text{Revenue from Operations}}{\text{Working Capital (CA - CL)}} \quad [\text{In Times}]$$

4. Profitability Ratios & Return on Investment (ROCE)

Profitability Formulas
A. Margin Ratios (Expressed as Percentages):
  • $$\text{Gross Profit Ratio} = \left( \frac{\text{Gross Profit}}{\text{Revenue from Operations}} \right) \times 100$$
  • $$\text{Operating Ratio} = \left( \frac{\text{Cost of Revenue from Operations} + \text{Operating Expenses}}{\text{Revenue from Operations}} \right) \times 100$$
  • $$\text{Operating Profit Ratio} = \left( \frac{\text{Operating Profit}}{\text{Revenue from Operations}} \right) \times 100 \quad [\text{Note: } \text{Operating Ratio} + \text{Operating Profit Ratio} = 100\%!]$$
  • $$\text{Net Profit Ratio} = \left( \frac{\text{Net Profit After Tax}}{\text{Revenue from Operations}} \right) \times 100$$
B. Return on Investment (ROI / ROCE)
$$\text{ROI} = \left( \frac{\text{Net Profit Before Interest, Tax and Dividends (NPBIT)}}{\text{Capital Employed}} \right) \times 100$$ $$\text{Capital Employed} = \text{Shareholders' Funds} + \text{Non-Current Liabilities} \equiv \text{Total Assets} - \text{Current Liabilities}$$

प्रमुख आर्थिक सूत्र, व्यावसायिक सिद्धांत एवं मानक

Operating Ratio Identity
$$\text{Operating Ratio} + \text{Operating Profit Ratio} = 100\%$$
Mathematical complement relationship.
Capital Employed Identity
$$\text{Capital Employed} = \text{Equity} + \text{Debt} = \text{Total Assets} - \text{Current Liabilities}$$
Dual approaches to calculating total long-term capital.

Accounting Ratios Classification Architecture

The 4 Grand Families of Accounting Ratios 1. Liquidity Short-Term Solvency Current Ratio CA / CL (Ideal 2:1) Quick Ratio QA / CL (Ideal 1:1) 2. Solvency Long-Term Viability Debt-to-Equity Debt / Equity (2:1) Proprietary Ratio Interest Coverage NPBIT / Interest 3. Activity / Turnover Efficiency (Times) Inventory Turnover COGS / Avg Inv Trade Receivables Working Capital 4. Profitability Returns (%) Gross Profit % Operating Ratio ROCE / ROI NPBIT / Cap Emp

अध्याय का सार संक्षेप एवं 10 मुख्य निष्कर्ष

मुख्य बिंदु 1
Accounting ratios synthesize raw financial figures into meaningful mathematical indicators.
मुख्य बिंदु 2
Current Ratio (ideal 2:1) measures short-term debt repayment ability: Current Assets / Current Liabilities.
मुख्य बिंदु 3
Quick Ratio (ideal 1:1) excludes Inventories and Prepaid Expenses from Current Assets.
मुख्य बिंदु 4
Debt-to-Equity Ratio (ideal 2:1) measures long-term debt cushion: Long-term Debt / Shareholders' Funds.
मुख्य बिंदु 5
Interest Coverage Ratio measures how many times operating profit covers debenture and loan interest.
मुख्य बिंदु 6
Inventory Turnover Ratio measures sales velocity: Cost of Revenue from Operations / Average Inventory.
मुख्य बिंदु 7
Trade Receivables Turnover measures credit collection efficiency: Credit Revenue / Average Receivables.
मुख्य बिंदु 8
Operating Ratio + Operating Profit Ratio = 100%.
मुख्य बिंदु 9
Return on Investment (ROI) evaluates overall capital efficiency: (NPBIT / Capital Employed) * 100.
मुख्य बिंदु 10
When computing Current Ratio, Loose Tools and Stores/Spares are strictly EXCLUDED from Current Assets.

स्व-मूल्यांकन अभ्यास (Check Your Understanding)

मूल वैचारिक स्पष्टता की जांच के लिए नैदानिक प्रश्न। पहले स्वयं हल करें, फिर उत्तर देखें।

1
A company has Current Assets of ₹6,00,000 and Current Liabilities of ₹3,00,000 (Current Ratio = 2:1). State whether each of the following transactions will increase, decrease, or have no effect on the Current Ratio:
(a) Payment of ₹50,000 to Trade Creditors.
(b) Purchase of goods for cash ₹40,000.
(c) Purchase of goods on credit for ₹1,00,000.
(d) Sale of goods costing ₹30,000 for ₹35,000 cash.
उत्तर एवं व्याख्या देखें
उत्तर:

(a) Payment of ₹50,000 to Creditors: INCREASES Current Ratio.
Explanation: New CA $= 6,00,000 - 50,000 = 5,50,000$; New CL $= 3,00,000 - 50,000 = 2,50,000$. New Ratio $= 5,50,000 / 2,50,000 = 2.2 : 1$ (Increased from 2:1). (Rule: An equal reduction in numerator and denominator increases a ratio greater than 1).

(b) Purchase of goods for cash ₹40,000: NO EFFECT.
Explanation: Cash decreases by 40,000 and Stock increases by 40,000. Total CA remains unchanged at ₹6,00,000, and CL is unchanged.

(c) Purchase of goods on credit for ₹1,00,000: DECREASES Current Ratio.
Explanation: CA increases to 7,00,000; CL increases to 4,00,000. New Ratio $= 7,00,000 / 4,00,000 = 1.75 : 1$ (Decreased).

(d) Sale of goods costing ₹30,000 for ₹35,000 cash: INCREASES Current Ratio.
Explanation: Stock decreases by 30,000, but cash increases by 35,000 (net CA increases by 5,000 to 6,05,000), while CL remains 3,00,000. New Ratio $= 6,05,000 / 3,00,000 = 2.02 : 1$.


Calculate new CA and new CL for each transaction and evaluate against the initial 2:1 ratio.
2
Calculate Current Ratio and Quick Ratio from the following:
Current Assets: ₹4,00,000; Inventories: ₹1,20,000 (including Loose Tools ₹20,000); Prepaid Insurance: ₹10,000; Current Liabilities: ₹2,00,000.
उत्तर एवं व्याख्या देखें
उत्तर:

Calculation:
• Under CBSE guidelines, Loose Tools must be excluded from Current Assets when calculating Current Ratio:
Corrected Current Assets $= ₹4,00,000 - ₹20,000 (\text{Loose Tools}) = ₹3,80,000$.

$$\text{Current Ratio} = \frac{\text{Corrected CA}}{\text{CL}} = \frac{₹3,80,000}{₹2,00,000} = 1.9 : 1.$$


• Quick Assets $= \text{Corrected CA} - \text{Inventory (excl loose tools)} - \text{Prepaid Insurance}$

$$\text{Quick Assets} = ₹3,80,000 - ₹1,00,000 - ₹10,00,000 \to ₹3,80,000 - ₹1,00,000 - ₹10,000 = ₹2,70,000.$$


$$\text{Quick Ratio} = \frac{₹2,70,000}{₹2,00,000} = 1.35 : 1.$$


Exclude loose tools from CA (380,000 / 200,000 = 1.9:1); QA = 380k - 100k - 10k = 270k / 200k = 1.35:1.
3
From the following information, calculate Inventory Turnover Ratio (ITR):
Opening Inventory: ₹50,000; Closing Inventory: ₹70,000; Total Purchases: ₹3,80,000; Carriage Inwards: ₹20,000; Revenue from Operations: ₹6,00,000.
उत्तर एवं व्याख्या देखें
उत्तर: Calculation:
• Cost of Revenue from Operations (COGS) $= \text{Opening Inventory} + \text{Purchases} + \text{Direct Expenses} - \text{Closing Inventory}$
$$\text{COGS} = ₹50,000 + ₹3,80,000 + ₹20,000 - ₹70,000 = ₹3,80,000.$$
• Average Inventory $= \frac{₹50,000 + ₹70,000}{2} = ₹60,000$.
$$\text{Inventory Turnover Ratio} = \frac{\text{COGS}}{\text{Average Inventory}} = \frac{₹3,80,000}{₹60,000} \approx 6.33\text{ Times}.$$
COGS = 50k + 380k + 20k - 70k = 380k; Avg Inventory = 60k; 380k / 60k = 6.33 times.
4
Calculate the Debt-to-Equity Ratio from the following:
10% Debentures: ₹6,00,000; Bank Loan: ₹4,00,000; Equity Share Capital: ₹8,00,000; Reserves and Surplus: ₹2,00,000; Current Liabilities: ₹3,00,000.
उत्तर एवं व्याख्या देखें
उत्तर: Calculation:
• Total Long-Term Debt $= \text{Debentures} + \text{Bank Loan} = ₹6,00,000 + ₹4,00,000 = ₹10,00,000$.
• Equity (Shareholders' Funds) $= \text{Share Capital} + \text{Reserves} = ₹8,00,000 + ₹2,00,000 = ₹10,00,000$.
$$\text{Debt-to-Equity Ratio} = \frac{\text{Debt}}{\text{Equity}} = \frac{₹10,00,000}{₹10,00,000} = 1 : 1.$$
Debt = 10 lakhs; Equity = 10 lakhs; Ratio = 1:1.
5
The Net Profit After Tax of a firm is ₹1,40,000. Tax rate is 30%. The firm has 12% Debentures of ₹5,00,000. Calculate the Interest Coverage Ratio.
उत्तर एवं व्याख्या देखें
उत्तर: Calculation:
• Let Profit Before Tax be $X$. Then $X - 30\% \text{ of } X = ₹1,40,000 \implies 0.70 X = 1,40,000 \implies X = \frac{1,40,000}{0.70} = ₹2,00,000$.
• Fixed Annual Interest on 12% Debentures $= 12\% \text{ of } ₹5,00,000 = ₹60,000$.
• Net Profit Before Interest and Tax (NPBIT) $= \text{PBT} + \text{Interest} = ₹2,00,000 + ₹60,000 = ₹2,60,000$.
$$\text{Interest Coverage Ratio} = \frac{\text{NPBIT}}{\text{Interest}} = \frac{₹2,60,000}{₹60,000} \approx 4.33\text{ Times}.$$
PBT = 140,000 / 0.70 = 200,000; Interest = 60,000; NPBIT = 260,000; Ratio = 260k / 60k = 4.33 times.
6
Explain why Operating Ratio and Operating Profit Ratio are complementary. What is their mathematical relationship?
उत्तर एवं व्याख्या देखें
उत्तर: • Operating Ratio measures the percentage of Revenue from Operations absorbed by operating costs (COGS + Operating Expenses): $\frac{\text{Operating Cost}}{\text{Revenue}} \times 100$.
• Operating Profit Ratio measures the remaining operating margin: $\frac{\text{Operating Profit}}{\text{Revenue}} \times 100$.
Because Operating Cost and Operating Profit together equal Revenue from Operations, their sum is always strictly equal to 100%:
$$\text{Operating Ratio} + \text{Operating Profit Ratio} = 100\%.$$
If Operating Ratio is 75%, Operating Profit Ratio is automatically 25%.
Operating Cost + Operating Profit = Total Revenue, so their percentage sum always equals 100%.
7
Calculate Return on Investment (ROI) from the following:
Net Profit Before Interest and Tax: ₹2,40,000; Total Assets: ₹15,00,000; Current Liabilities: ₹3,00,000.
उत्तर एवं व्याख्या देखें
उत्तर: Calculation:
• Capital Employed $= \text{Total Assets} - \text{Current Liabilities} = ₹15,00,000 - ₹3,00,000 = ₹12,00,000$.
• NPBIT $= ₹2,40,000$.
$$\text{ROI} = \left( \frac{\text{NPBIT}}{\text{Capital Employed}} \right) \times 100 = \left( \frac{₹2,40,000}{₹12,00,000} \right) \times 100 = 20.0\%.$$
Capital Employed = 15L - 3L = 12L; ROI = (2.4L / 12L) * 100 = 20%.
8
Why are Loose Tools and Stores & Spares excluded from Current Assets when calculating the Current Ratio?
उत्तर एवं व्याख्या देखें
उत्तर:

Under CBSE accounting guidelines, although Loose Tools and Stores & Spares are classified under "Inventories" on the Balance Sheet, they are consumed internally in production and maintenance rather than held for sale in the ordinary course of business. They cannot be liquidated to generate cash to settle short-term trade debts. Including them would artificially inflate the company's apparent debt-paying ability.


They are meant for internal maintenance, not for commercial resale to pay debts.
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