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
understand the meaning and the necessity for accounting
understand the role of accounting as a source of information
understand the role of accounting as a source of information
understanding of the users of accounting information namely the internal users and the external users
learn about the objectives of accounting
about the various roles of accounting
learning the terminology of accounting

2. Theory Base of Accounting: In this chapter, the students will learn about
the necessity for theory base of accounting
nature of Generally Accepted Accounting Principles (GAAP)
basic accounting concepts and their meaning
accounting standards issued by the Institute of Charted Accountants of India
systems of accounting
basis of accounting

3. Recording of Transactions – I: In this chapter, the students will learn about
nature of transactions and source documents
preparation of the accounting vouchers
application of accounting equation to understand the effect of transactions
usage of rules of debit and credit to record the transactions
the concepts related to the book of original entry and recording of transactions in journal
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
the need for special purpose books
how to record transactions in cash book and post them in ledger
preparation of petty cash book
recording the transactions in special purpose books
posting the entries in the special purpose books and to the ledger
how to balance the ledger accounts

5. Bank Reconciliation Statement: In this chapter, the students will learn about
what is bank reconciliation statement and why it is needed
understand why the cash book and pass book show different figures for bank balance
preparation of the bank reconciliation statement
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
trial balance
the objectives of preparation of trial balance
how to prepare trial balance
the different types of errors
various processes used for locating the errors
identify those errors which impact the agreement of trial balance and those which won’t affect
how to resolve errors without the need for preparation of suspense account
how to resolve errors by preparing the suspense account

7. Depreciation, Provisions and Reserves: In this chapter, the students will learn about
the depreciation and how is different from amortization and depletion
why the depreciation should be accounted for and the factors that result in depreciation
calculating the depreciation using straight line and written down value methods
how to record transactions related to depreciation and disposition of assets
the concept and purpose of creating provisions and reserves
how to differentiate between reserves and provisions
nature of different types of provisions and reserves (including secret reserve)
8. Bill of Exchange: In this chapter, the students will learn about
what is the bill of exchange and what is a promissory note
differences between bill of exchange and promissory note
the advantages of bill of exchange
the different terms used in the bill transaction
how to record bill of exchange transactions in a journal
how to record transactions related to dishonor, retirement and renewal of bill
the uses of bill receivable and bill payable book
the accommodation bill and its use
Accounting

Accounting covers the following chapters
9. Financial Statements – I: In this chapter, the students will learn about
the nature of the financial statements
identify the various stake holders involved and their information requirements
how to differentiate between the capital and revenue expenditures and receipts
the concept of trading and profit and loss account and its preparation
the nature of gross profit, net profit and operating profit
describe the concepts of balance sheet and its preparation
grouping and marshaling of assets and liabilities
profit and loss account and balance sheet of sole proprietary firm
how to make an opening entry
10. Financial Statements – II: In this chapter, the students will learn about
Explain the need for adjustments while preparing the financial statements
explain the accounting treatment of adjustments for the outstanding and prepaid expenses as well as acrued and advance receipts of income
the adjustments to be made for considering the depreciation, bad debts, provision for discount on debtors
concept and adjustments of manager’s commission and interest on capital
how to prepare profit and loss account as well as balance sheet, considering the adjustments

11. Accounts from Incomplete Records: In this chapter, students will learn about
what are incomplete records and what are their features
Computing the profit and loss account by using the statement of affairs method
Differentiate between balance sheet and statement of affairs
how to prepare trading and profit and loss account and balance sheet from the incomplete records
how to detect the missing figures or information through preparation of relevant accounts
12. Application of Computers in Accounting: In this chapter, the students will learn about
the capabilities of computer system and its elements
the need for computers in accounting
the automation of accounting process
the design of account reports from the accounting data
the different types of Management Information system (MIS) reports and their uses
the data interface between information systems

13. Computerized Accounting System: In this chapter, the students will learn about
computerized accounting system
differentiate between a manual and computerized accounting system
the merits and demerits of computerized accounting system
sourcing of a computerized accounting system
14. Structuring Database for Accounting: In this chapter, the students will learn about
identification of MS Access as DBMS
the basic concepts of database system
accounting reality in the context of Entity Relationship (ER) model
transformation of ER presentation of accounting reality into database
development of database design for computerized system using relational data model
how to form basic basic queries for retrieving accounting data and information

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