Accountancy

The students will learn the following chapters in CBSE class 11 accountancy. The actual notes for CBSE class 11 accountancy is provided in detail and can be viewed by clicking on the links provided. This page gives an overview of the lessons. There are two NCERT recommended books provided for CBSE class 11 Accountancy subject namely

  1. Financial Accounting – I
  2. Accountancy – II
Financial Accounting

Financial Accounting covers the following chapters.






  1. Introduction to Accounting: In this chapter, the students will
    1. understand the meaning and the necessity for accounting
    2. understand the role of accounting as a source of information
    3. understand the role of accounting as a source of information
    4. understanding of the users of accounting information namely the internal users and the external users
    5. learn about the objectives of accounting
    6. about the various roles of accounting
    7. learning the terminology of accounting
  2. Theory Base of Accounting: In this chapter, the students will learn about
    1. the necessity for theory base of accounting
    2. nature of Generally Accepted Accounting Principles (GAAP)
    3. basic accounting concepts and their meaning
    4. accounting standards issued by the Institute of Charted Accountants of India
    5. systems of accounting
    6. basis of accounting
  3. Recording of Transactions – I: In this chapter, the students will learn about
    1. nature of transactions and source documents
    2. preparation of the accounting vouchers
    3. application of accounting equation to understand the effect of transactions
    4. usage of rules of debit and credit to record the transactions
    5. the concepts related to the book of original entry and recording of transactions in journal
    6. the concept of ledger and posting of journal entries to the ledger account
  4. Recording of Transactions – II: In this chapter, the students will learn about
    1. the need for special purpose books
    2. how to record transactions in cash book and post them in ledger
    3. preparation of petty cash book
    4. recording the transactions in special purpose books
    5. posting the entries in the special purpose books and to the ledger
    6. how to balance the ledger accounts
  5. Bank Reconciliation Statement: In this chapter, the students will learn about
    1. what is bank reconciliation statement and why it is needed
    2. understand why the cash book and pass book show different figures for bank balance
    3. preparation of the bank reconciliation statement
    4. how to ascertain the exact bank balance as per the cash book
  6. Trial Balance and Rectification of Errors: In this chapter, the students will learn about
    1. trial balance
    2. the objectives of preparation of trial balance
    3. how to prepare trial balance
    4. the different types of errors
    5. various processes used for locating the errors
    6. identify those errors which impact the agreement of trial balance and those which won’t affect
    7. how to resolve errors without the need for preparation of suspense account
    8. how to resolve errors by preparing the suspense account
  7. Depreciation, Provisions and Reserves: In this chapter, the students will learn about
    1. the depreciation and how is different from amortization and depletion
    2. why the depreciation should be accounted for and the factors that result in depreciation
    3. calculating the depreciation using straight line and written down value methods
    4. how to record transactions related to depreciation and disposition of assets
    5. the concept and purpose of creating provisions and reserves
    6. how to differentiate between reserves and provisions
    7. nature of different types of provisions and reserves (including secret reserve)
  8. Bill of Exchange: In this chapter, the students will learn about
    1. what is the bill of exchange and what is a promissory note
    2. differences between bill of exchange and promissory note
    3. the advantages of bill of exchange
    4. the different terms used in the bill transaction
    5. how to record bill of exchange transactions in a journal
    6. how to record transactions related to dishonor, retirement and renewal of bill
    7. the uses of bill receivable and bill payable book
    8. the accommodation bill and its use
Accounting

Accounting covers the following chapters

  1. Financial Statements – I: In this chapter, the students will learn about
    1. the nature of the financial statements
    2. identify the various stake holders involved and their information requirements
    3. how to differentiate between the capital and revenue expenditures and receipts
    4. the concept of trading and profit and loss account and its preparation
    5. the nature of gross profit, net profit and operating profit
    6. describe the concepts of balance sheet and its preparation
    7. grouping and marshaling of assets and liabilities
    8. profit and loss account and balance sheet of sole proprietary firm
    9. how to make an opening entry
  2. Financial Statements – II: In this chapter, the students will learn about
    1. Explain the need for adjustments while preparing the financial statements
    2. explain the accounting treatment of adjustments for the outstanding and prepaid expenses as well as acrued and advance receipts of income
    3. the adjustments to be made for considering the depreciation, bad debts, provision for discount on debtors
    4. concept and adjustments of manager’s commission and interest on capital
    5. how to prepare profit and loss account as well as balance sheet, considering the adjustments
  3. Accounts from Incomplete Records: In this chapter, students will learn about
    1. what are incomplete records and what are their features
    2. Computing the profit and loss account by using the statement of affairs method
    3. Differentiate between balance sheet and statement of affairs
    4. how to prepare trading and profit and loss account and balance sheet from the incomplete records
    5. how to detect the missing figures or information through preparation of relevant accounts
  4. Application of Computers in Accounting: In this chapter, the students will learn about
    1. the capabilities of computer system and its elements
    2. the need for computers in accounting
    3. the automation of accounting process
    4. the design of account reports from the accounting data
    5. the different types of Management Information system (MIS) reports and their uses
    6. the data interface between information systems
  5. Computerized Accounting System: In this chapter, the students will learn about
    1. computerized accounting system
    2. differentiate between a manual and computerized accounting system
    3. the merits and demerits of computerized accounting system
    4. sourcing of a computerized accounting system
  6. Structuring Database for Accounting: In this chapter, the students will learn about
    1. identification of MS Access as DBMS
    2. the basic concepts of database system
    3. accounting reality in the context of Entity Relationship (ER) model
    4. transformation of ER presentation of accounting reality into database
    5. development of database design for computerized system using relational data model
    6. how to form basic basic queries for retrieving accounting data and information





  7. Accounting System Using Database Management System: In this chapter, the students will learn about
    1. identification of resources of MS Access as DBMS
    2. how to create data tables described in a database design and set relationship among these tables
    3. the Access basics and procedures to create forms using Access
    4. how to describe and create voucher forms in consonance with different database designs
    5. how to identify information requirement of reports to query the databases
    6. how to form and implement queries for retrieving data and information for presenting in the accounting reports
    7. how to implement the process in Access for generating accounting reports by using accounting information queries.