CBSE Class 11 Accountancy Syllabus 2017-2018

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CBSE Class 11 Accountancy Syllabus 2017-2018. Download the latest syllabus to do your studies as per the latest guidelines issued by CBSE NCERT. The syllabus, weightage of chapters, blue print of question papers and the design of question papers is issued every year for the benefit of students. Access all syllabus for all subjects here.

19. ACCOUNTANCY (Code No. 055)

Rationale

The course in Accountancy is introduced at +2 stage of Senior Secondary education, as formal commerce

education is provided after first ten years of schooling. With the fast changing economic scenario and

business environment in a state of continuous flux, elementary business education along with accountancy

as the language of business and as a source of financial information has carved out a place for itself at the

Senior School stage. Its syllabus content should give students a firm foundation in basic accounting

principles and methodology and also acquaint them with the changes taking place in the presentation and

analysis of accounting information, keeping in view the development of accounting standards and use of

computers.

Against this background, the course puts emphasis on developing basic understanding about the nature and

purpose of the accounting information and its use in the conduct of business operations. This would help to

develop among students logical reasoning, careful analysis and considered judgement. Accounting as an

information system aids in providing financial information. The emphasis at Class XI is placed on basic

concepts and process of accounting leading to the preparation of accounts for a sole proprietorship firm.

Computerized accounting is becoming popular with the increasing use of computers in business. Keeping this

in view, the students are exposed compulsorily to the basic knowledge about computers and its use in

accounting in the same year.

In class XII, Accounting for Partnership Firms and Companies are to be taught as a compulsory part. Students

will also be given an opportunity to understand further about Computerized Accounting System, as an

optional course to Analysis of Financial Statements.

Objectives:

 to familiarize the students with accounting as an information system;

 to acquaint the students with basic concepts of accounting and accounting standards;

 to develop the skills of using accounting equation in processing business transactions;

 to develop an understanding about recording of business transactions and preparation of financial

statements;

 to enable the students with accounting for reconstitution and dissolution of partnership firms;

 to enable the students to understand and analyse the financial statements; and

 to familiarize students with the fundamentals of computerized system of accounting.

Accountancy (Code No.055)

Couse Structure

Class-XI (2017-18)

One Paper Theory: 90 Marks

3 Hours

Units Periods Marks

Part A: Financial Accounting-1

Unit-1: Theoretical Framework 25 15

Unit-2: Accounting Process 95 35

120 50

Part B: Financial Accounting-II

Unit-3: Financial Statements of Sole Proprietorship from Complete

and Incomplete Records

40 15

Unit-4: Financial Statements of Not-for-Profit Organizations 30 15

Unit-5: Computers in Accounting 20 10

90 40

Part C: Project Work 30 10

PART A: FINANCIAL ACCOUNTING - I 50 Marks

Unit-1: Theoretical Frame Work 25 Periods

Units/Topics Learning Outcomes

Introduction to Accounting 11 Periods

 Accounting- concept, objectives, advantages and limitations, types of accounting information; users of accounting information and their needs.

 Basic accounting terms: business transaction, account, capital, drawings, liabilities (non - current and current); assets (non-current and

current) fixed assets (tangible and intangible assets), receipts (capital and revenue), expenditure (capital, revenue and deferred),

expense, income, profits, gains and losses, purchases, purchases returns, sales, sales return, goods, stock, inventory, trade

receivables (debtors and bills receivable), trade payables (creditors and bills payable), cost, vouchers, discount - trade and cash.

Theory Base of Accounting 14 Periods

 Fundamental accounting assumptions: going concern, consistency and accrual.

 Accounting principles: accounting entity, money measurement, accounting period, full disclosure, materiality, prudence, cost

concept, matching concept and dual aspect.

 Accounting Standards and IFRS (International Financial Reporting Standards): concept and objectives

 Double entry system of accounting.

 Bases of accounting - cash basis and accrual basis.

After going through this Unit, the students will be able to:

 describe the meaning, significance, objectives, advantages and limitations of accounting in the modem economic environment with varied types of business and non-business economic entities.

 identify / recognise the individual(s) and entities that use accounting information for serving their needs of decision making.

 explain the various terms used in accounting and differentiate between different related terms like current and non-current, capital and

revenue.

 give examples of terms like business transaction, liabilities, assets, receipts, expenditure and purchases.

 explain that sales/purchases include both cash and credit sales/purchases relating to the

accounting year.

 differentiate among income, profits and gains.

 state the meaning of fundamental accounting assumptions and their relevance in accounting.

 describe the meaning of accounting principles and the situation in which a principle is applied during the accounting process.

 explain the meaning and objectives of accounting standards.

 appreciate that various accounting standards developed nationally and globally are in acknowledge the fact that recording of

accounting transactions follows double entrysystem.

 explain the bases of recording accounting transaction and to appreciate that accrual basis is a better basis for depicting the correct

financial position of an enterprise.

Unit-2: Accounting Process 95 Periods

Units/Topics Learning Outcomes

Recording of Transactions 23 Periods

 Accounting equation: analysis of transactions using accounting equation.

 Rules of debit and credit: for assets, liabilities, capital, revenue and expenses.

 Origin of transactions- source documents/ supporting vouchers (invoice, cash memo, pay

in slip, cheque etc.), debit note, credit note, preparation of accounting 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 bank columns and petty cash book.

 Other books: purchases book, sales book, purchases returns book, sales returns book and journal proper. Preparation of Bank Reconciliation Statement, Ledger and Trial Balance 23 Periods

 Bank reconciliation statement- concept, calculating bank balance at an 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 and preparation {Scope: Trial balance with balance method

only) Depreciation, Provisions and Reserves. 16 Periods

 Depreciation: concept, need and factors affecting depreciation; methods of computation of depreciation: straight line method, written

After going through this Unit, the students will be able to:

 explain the concept of accounting equation and appreciate that every transaction affects either both the sides of the equation or a positive effect on one item and a negative effect on another item on the same side of accounting equation.

 explain the effect of a transaction (increase or decrease) on the concerned assets, liabilities, capital, revenue and expenses.

 appreciate that on the basis of source documents, accounting vouchers are prepared for recording transaction in the books of accounts.

 develop the understanding of recording of transactions in journal.

 explain the purpose of maintaining a Cash Book and develop the skill of preparing the format of different types of cash books and the method

of recording cash transactions in Cash book.

 describe the method of recording transactionsother than cash transactions as per theirnature in different subsidiary books .

 appreciate that at times bank balance as indicated by cash book is different from the bank balance as shown by the pass book / bank

statement and to reconcile both the balances, bank reconciliation statement is prepared.

 develop understanding of preparing bank reconciliation statement.

 appreciate that for ascertaining the position of individual accounts, transactions are posted from subsidiary books and journal proper into

the concerned accounts in the ledger and

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