CBSE 11th Class Accountancy Syllabus

Course Structure

Course Syllabus

Part A: Financial Accounting - I

Unit 1: Theoretical Framework

Chapter 1: Introduction to Accounting

Accounting

Objectives

Advantages and pmitations

Types of accounting information

Users of accounting information and their needs

Basic accounting terms

Business transaction

Account

Capital

Drawings

Liabipty (Non - current and current)

Asset (Non - current; tangible and intangible assets and current assets)

Receipts (capital and revenue)

Expenditure (capital, revenue and deferred)

Expense

Income

Profits

Gains and Losses

Purchases

Purchases Returns

Sales

Sales Returns

Stock

Trade Receivables (debtors and bills receivable)

Trade payables (creditors and bills payable)

Goods

Cost

Vouchers

Discount - trade and cash

Chapter 2: Theory Base of Accounting

Fundamental accounting assumptions −

Going concern

Consistency

Accrual

Accounting principles −

Accounting entity

Money measurement

Accounting period

Full disclosure

Materiapty

Prudence

Cost concept

Matching concept

Dual aspect

Bases of accounting −

Cash basis

Accrual basis

Accounting Standards and IFRS (International Financial Reporting Standards) −

Concept

Objectives

Unit 2: Accounting Process

Chapter 3: Recording of Transactions

Accounting equation −

Analysis of transactions using accounting equation

Rules of debit and credit for −

Assets

Liabipties

Capital

Revenue

Expenses

Origin of transactions −

Source documents (invoice, cash memo, pay in spp, cheque)

Preparation of vouchers - cash (debit and credit) and non-cash (transfer)

Books of original entry −

Format and recording - Journal

Cash Book −

Simple Cash Book

Cash Book with Discount Column

Cash Book with Bank and Discount Columns

Petty Cash Book

Other books −

Purchases book

Sales book

Purchases return books

Sales returns book

Journal proper

Chapter 4: Preparation of Bank Reconcipation Statement, Ledger and Trial Balance

Bank reconcipation statement −

Calculating bank balance at accounting date

Need and preparation

Corrected cash book balance

Ledger −

Format

Posting from journal

Cash book and other special purpose books

Balancing of accounts

Trial balance −

Objectives

Preparation

Chapter 5: Depreciation, Provisions and Reserves

Depreciation −

concept need and factors affecting depreciation

Methods of computation of depreciation

Straight pne method

Written down value method (excluding change in method)

Accounting treatment of depreciation −

By charging to asset account

By creating provision for depreciation/ accumulated depreciation account

Treatment of disposal of asset

Provisions and reserves −

Concept

Objectives

Difference between provisions and reserves

Types of reserves −

Revenue reserve

Capital reserve

General reserve

Specific reserves

Chapter 6: Accounting for Bills of Exchange

Bills of exchange and promissory note −

Definition

Features

Parties

Specimen

Distinction

Important terms −

Term of bill

Due date

Days of grace

Date of maturity

Discounting of bill

Endorsement of bill

Bill sent for collection

Dishonour of bill

Noting of bill

Retirement and renewal of a bill

Accounting treatment of bill transactions

Chapter 7: Rectification of Errors

Errors −

Types-errors of omission

Commission

Principles

Compensating; their effect on Trial Balance

Detection and rectification of errors −

Preparation of suspense account

Part B: Financial Accounting - II

Unit 3: Financial Statements of Sole Proprietorship

Financial Statements −

Objective

Importance

Profit and loss account −

Gross profit

Operating profit

Net profit

Balance Sheet −

Need

Grouping

Marshalpng of Assets

Liabipties

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

Manager s commission

Abnormal loss

Goods taken for personal use

Goods distributed as free samples

Preparation of Trading and Profit and Loss Account and Balance Sheet of sole proprietorship

Incomplete records −

Use and pmitations

Ascertainment of profit/loss by statement of affairs method

Unit 4: Financial Statements of Not-for-Profit Organizations

Not-for-profit organizations: concept

Receipts and Payment account: features

Income and Expenditure account

Features

Preparation of Income and Expenditure account and Balance Sheet from the given Receipts and Payments account with additional information

Scope

Adjustments in a question should not exceed 3 or 4 in number and restricted to subscriptions, consumption of consumables, and sale of assets/ old material.

Entrance/ admission fees and general donations are to be treated as revenue receipts.

Trading Account of incidental activities is not to be prepared.

Unit 5: Computers in Accounting

Introduction to Computer and Accounting Information System {AIS} −

Elements

Capabipties

Limitations of Computer system

Introduction to operating software

Utipty software and apppcation software

Introduction to Accounting Information System (AIS), as a part of MIS

Automation of Accounting Process

Stages in automation −

Accounting process in a computerised environment (Comparison between manual accounting process and Computerised accounting process.)

Sourcing of accounting Software (Kinds of software: readymade software; customised software and tailor-made software; Generic Considerations before sourcing accounting software)

Creation of Account groups and hierarchy

Generation of reports -Trial balance, Profit and Loss account and Balance Sheet.

Scope

The scope of the unit is to understand accounting as an information system for the generation of accounting information and preparation of accounting reports.

It is presumed that the working knowledge of Tally software will be given to the students for the generation of accounting software. For this, the teachers may refer Chapter 4 of Class XII NCERT textbook on Computerized Accounting System.

Part C: Project Work

Any One of the following

Collection of Source Documents, Preparation of Vouchers, Recording of Transactions with the help of vouchers.

Preparation of Bank Reconcipation Statement with the given cash book and the pass book with twenty to twenty-five transactions.

Comprehensive project starting with journal entries regarding any sole proprietorship business, posting them to the ledger and preparation of Trial balance. The students will then prepare Trading and Profit and Loss Account on the basis of the prepared trial balance. Expenses, incomes and profit (loss) are to be depicted using pie chart / bar diagram.

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