Accountancy

The CBSE (Central Board of Secondary Education) class 11 syllabus for the subject of Accountancy is fairly vast and detailed. It is primarily aimed at providing students a firm foundation in fundamental accounting concepts and methodology. Particular emphasis is put on developing basic understanding about accounting as an information system. It is essential for students to get familiar with the syllabus as part of exam preparation. 

Provided below is the entire syllabus, including all topics and subtopics. 

Part A: Financial Accounting – I  

Unit-1: Theoretical Framework 

Introduction To Accounting

Accounting- concept, meaning, as a source of information, objectives, advantages and limitations, types of accounting information; users of accounting information and their needs. Qualitative Characteristics of Accounting Information. Role of Accounting in Business.  

Basic Accounting Terms- Entity, Business Transaction, Capital, Drawings. Liabilities (Non Current and Current). Assets (Non Current, Current); Expenditure (Capital and Revenue), Expense, Revenue, Income, Profit, Gain, Loss, Purchase, Sales, Goods, Stock, Debtor, Creditor, Voucher, Discount (Trade discount and Cash Discount)

Theory Base of Accounting  

Fundamental accounting assumptions: GAAP: Concept  

Basic accounting concept : Business Entity, Money Measurement, Going Concern, Accounting Period, Cost Concept, Dual Aspect, Revenue Recognition, Matching, Full Disclosure, Consistency, Conservatism, Materiality and Objectivity  

System of Accounting. Basis of Accounting: cash basis and accrual basis  

Accounting Standards: Applicability in IndAS  

Goods and Services Tax (GST): Characteristics and Advantages.

Unit-2: Accounting Process 

Recording Of Business Transactions

Voucher and Transactions: Source documents and Vouchers, Preparation of Vouchers, Accounting Equation Approach: Meaning and Analysis, Rules of Debit and Credit.  

Recording of Transactions: Books of Original Entry- Journal  

Special Purpose books:  

Cash Book: Simple, cash book with bank column and petty cash book

Purchases book  

Sales book  

Purchases return book  

Sales return book  

Journal proper 

Note: Including trade discount, freight and cartage expenses for simple GST calculation.  

Ledger: Format, Posting from journal and subsidiary books, Balancing of accounts 

Bank Reconciliation Statement:  Need and preparation, Bank Reconciliation Statement Depreciation, Provisions and Reserves  

Depreciation: Meaning, Features, Need, Causes, factors  

Other similar terms: Depletion and Amortisation  

Methods of Depreciation: i. Straight Line Method (SLM) ii. Written Down Value Method (WDV) Note: Excluding change of method  

Difference between SLM and WDV; Advantages of SLM and WDV  

Method of recoding depreciation i. Charging to asset account ii. Creating provision for depreciation/accumulated depreciation account  

Treatment of disposal of asset  

Provisions, Reserves, Difference Between Provisions and Reserves.  

Types of Reserves: i. Revenue reserve ii. Capital reserve iii. General reserve iv. Specific reserve v. Secret Reserve  

Difference between capital and revenue reserve  

Trial balance and Rectification of Errors  

Trial balance: objectives, meaning and preparation 

(Scope: Trial balance with balance method only)  

Errors: classification-errors of omission, commission, principles, and compensating; their effect on Trial Balance.  

Detection and rectification of errors; (i) Errors which do not affect trial balance (ii) Errors which affect trial balance  

Preparation of suspense account.

Part B: Financial Accounting – II

Unit 3: Financial Statements of Sole Proprietorship

Financial Statements

Meaning, objectives and importance; Revenue and Capital Receipts; Revenue and Capital Expenditure; Deferred Revenue expenditure. Opening journal entry. Trading and Profit and Loss Account: Gross Profit, Operating profit and Net profit. Preparation. Balance Sheet: need, grouping and marshalling of assets and liabilities. Preparation. Adjustments in preparation of financial statements with respect to closing stock, outstanding expenses, prepaid expenses, accrued income, income received in advance, depreciation, bad debts, provision for doubtful debts, provision for discount on debtors, Abnormal loss, Goods taken for personal use/staff welfare, interest on capital and managers commission. Preparation of Trading and Profit and Loss account and Balance Sheet of a sole proprietorship with adjustments.  

Part C: Project Work (Any One) 

1. Collection of source documents, preparation of vouchers, recording of transactions with the help of vouchers. 
2. Preparation of Bank Reconciliation Statement with the given cash book and the pass book with twenty to twenty-five transactions. 
3. Comprehensive project of any sole proprietorship business. This may state with journal entries and their ledgering, preparation of Trial balance. Trading and Profit and Loss Account and Balance Sheet. Expenses, incomes and profit (loss), assets and liabilities are to be depicted using pie chart / bar diagram.