CBSE Class 11 Accountancy Syllabus 2020-21

CBSE Class 11 Accountancy Syllabus furnishes a broad degree of concepts and introduction to the subject. Students can find the latest CBSE Syllabus for Class 11 Accountancy in pdf format below.

CBSE Class 11 Revised Accountancy Syllabus 2020-21: Download PDF

Have a look at the marks weightage of the CBSE Class 11 Accountancy subject.

Marks Weightage of CBSE Class 11 Accountancy Syllabus

Units Periods Marks
Part A: Financial Accounting-1
Unit-1: Theoretical Framework 25 12
Unit-2: Accounting Process 90 40
Part B: Financial Accounting-II
Unit-3: Financial Statements of Sole Proprietorship from Complete and Incomplete Records 40 20
Unit-4: Computers in Accounting 05 08
Part C: Project Work 15 20

CBSE Syllabus for Class 11 Accountancy

Part A: Financial Accounting – I

Unit-1: Theoretical Frame Work

Introduction to Accounting

  • Accounting- concept, 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- Business Transaction, Capital, Drawings. Liabilities (Non Current and Current). Assets (Non Current, Current); Fixed assets (Tangible and Intangible), Expenditure (Capital and Revenue), Expense, 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
  • 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 Objective.

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 cashbook
  • Purchases book
  • Sales book
  • Purchases return book
  • Sales return book

Ledger:

  • Format, Posting from journal and subsidiary books, Balancing of accounts

Bank Reconciliation Statement:

  • Need and preparation

Depreciation, Provisions and Reserves

  • Depreciation: Concept, Features, Causes, factors
  • Other similar terms: Depletion and Amortisation
  • Methods of Depreciation:

i. Straight Line Method (SLM)
ii. Written Down Value Method (WDV)

  • Difference between SLM and WDV; Advantages of SLM and WDV
  • Accounting treatment of depreciation

i. Charging to asset account
ii. Creating provision for depreciation/accumulated depreciation account
iii. Treatment for disposal of asset

  • Provisions and Reserves: Difference
  • Types of Reserves:

i. Revenue reserve
ii. Capital reserve
iii. General reserve
iv. Specific reserve
v. Secret Reserve

  • Difference between capital and revenue reserve

Accounting for Bills of Exchange

  • Bill of exchange and Promissory, Note: Definition, Specimen, Features, Parties.
  • Difference between Bill of Exchange and Promissory Note
  • Terms in Bill of Exchange:

i. Term of Bill
ii. Accommodation bill (concept)
iii. Days of Grace
iv. Date of maturity
v. Discounting of bill
vi. Endorsement of bill
vii. Bill after due date
viii. Negotiation
ix. Bill sent for collection
x. Dishonour of bill

  • Accounting Treatment

Trial balance and Rectification of Errors

  • Trial balance: objectives and preparation
  • Errors: types-errors of omission, commission, principles, and 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

Meaning, objectives and importance; Revenue and Capital Receipts; Revenue and Capital Expenditure; Deferred Revenue expenditure. 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.

Incomplete Records

Features, reasons and limitations. Ascertainment of Profit/Loss by Statement of Affairs method.

Unit 4: Computers in Accounting

  • Introduction to computer and accounting information system {AIS}: Introduction to computers (elements, capabilities, limitations of computer system)
  • Automation of accounting process: meaning

Download CBSE Class 11 Deleted Syllabus of Accountancy PDF 2020-21

PART A: FINANCIAL ACCOUNTING – I 

Unit-2: Accounting Process

Topics Deleted
Bank Reconciliation Statement: 

Bank Reconciliation Statement with Adjusted Cash Book 

Accounting for Bills of Exchange 

Retirement of bill 

Renewal of bill

Part B: Financial Accounting – II 

Unit 3: Financial Statements of Sole Proprietorship

Topics Deleted
Incomplete Records 

Difference between accounts from incomplete records and Statement of Affairs. 

Preparation of Trading, Profit and Loss account and Balance Sheet. 

Unit 4: Computers in Accounting

Topics Deleted
Introduction to operating software, utility software and application software. Introduction to accounting information system (AIS) as a part of Management Information System. 

Stages in automation: (a) Accounting process in a computerised environment; comparison between manual accounting process and computerised accounting process, (b) Sourcing of accounting software; kinds of software: readymade software; customised software and tailor-made software; generic considerations before sourcing accounting software (c) creation of account groups and hierarchy (d) generation of reports – trial balance, profit and loss account and balance sheet

Accountancy is a systematic procedure of recognizing, documenting, calculating, categorising, substantiating, summarizing, elucidating and liaising financial data. It divulges profit or loss for a given period of time and nature and value of a firm’s assets, liabilities and owner’s’ equity.

Accountancy or Accounting is a structure that is meant for measuring trade pursuits, actioning of data into reports and making the findings obtainable to the decision-makers. The documents, which collaborate these findings of the procurement of an establishment in monetary terms, are called financial statements. Accounting is elucidated as a ‘Business Language’.

Accounting assists the establishment to be able to fix the financial position of the business. With all accounting pursuits, the ultimate report furnished assists the management to be aware of the business position so they can be able to know which direction they are heading towards. Accountancy helps in taking significant economic decisions by scrutinizing the past performance. A certificate or diploma in accounting and finance helps the students learn such skills that are helpful in different industries.

To know more, stay tuned to BYJU’S for more information on CBSE class 11 syllabus, previous years question papers, important questions, exam pattern, sample papers and more.

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