ACCOUNTANCY CLASS 11TH SYLLABUS

CLASS 11TH ACCOUNTANCY SYLLABUS

Chapter 1 – Meaning, Objective, Scope and Nature of Accounting

      • What is Accounting (Meaning and Definition of Accounting)
      • Why Accounting is required (Need of Accounting)
      • Features or Characteristics or Attributes of Accounting
      • Objective and Functions of Accounting
      • Branches or Fields of Accounting
      • Distinguish between Book-Keeping, Accounting and Accountancy
      • Nature of Accounting
      • Accounting as a source of information
      • Users of Accounting Information
      • Advantages and Disadvantages/Limitation of Accounting
      • Qualitative Characteristics of Accounting Information
      • Role of Accounting

Chapter 2 – Basic Accounting Terms

      • What is Entity or Enterprise
      • Business Transactions, Events and its main Features
      • What is Account
      • Meaning of Capital, Drawing, Assets, Liabilities, Receipts, Expenditures, Expenses, Income, Profits, Losses, Purchases, Sales, Goods, Stock/Inventories, Trade Receivables, Trade Payables, Cost, Vouchers, Discounts, Rebate, GST etc

Chapter 3 – Accounting Principles

      • Meaning of Accounting Principles
      • Nature or Characteristics of Accounting Principles
      • Need of Accounting Principles
      • Kinds of Accounting Principles
        • Accounting Concepts or Assumptions
          • Fundamental Accounting Assumptions as per AS-1
            1. Going Concern Concept
            2. Consistency Concept
            3. Accrual Concept
          • Other Accounting Assumptions
            1. Business Entity Concept
            2. Money Measurement Concept
            3. Accounting Period Concept
            4. Cost Concept
            5. Dual Aspect Concept
            6. Revenue Recognition Concept
            7. Matching Concept
            8. Objectivity Concept
        • Accounting Conventions
          • Distinction between Concepts and Conventions
            • Convention of Full Disclosure
            • Convention of Materiality
            • Convention of Conservatism

Chapter 4 – Process and Bases of Accounting

      • Process of Accounting
      • Bases of Accounting
        • Cash Basis of Accounting
        • Accrual Basis of Accounting
      • Distinction between Cash Basis of Accounting and Accrual Basis of Accounting
      • Hybrid of Mixed Basis of Accounting

Chapter 5 – Accounting Standards

      • Need for Accounting Standards
      • Nature of Accounting Standards
      • Benefits or Advantages of Accounting Standards
      • Limitation or Disadvantages of Accounting Standards
      • Features or Characteristics of Indian Accounting Standards (Ind-AS)
      • Objectives of Indian Accounting Standards (Ind-AS)
      • Merits of Indian Accounting Standards (Ind-AS)
      • List of AS and Ind-AS

Chapter 6 – Accounting Equations

      • Meaning of Accounting Equation
      • Impact of each transactions on Accounting Equation
      • Meaning and Rules of Debit and Credit

Chapter 7 – Double Entry System

      • Meaning of Double Entry System
      • Principles or Characteristics of Double Entry System
      • Types or Classification of Accounts
      • Process or Stages of Double Entry System
      • Advantages and Disadvantages of Double Entry System

Chapter 8 – Origin of Transactions (Source Documents of Accountancy)

      • Source Documents of Accountancy
      • What is Vouchers
      • Types of Vouchers

Chapter 9 – Books of Original Entry – Journal Entries

      • Meaning and Format of Journal Entries
      • Advantages and Disadvantage of Journal Entries
      • Rules of Journalising JE’s
      • Recording of Journal Entries

Chapter 10 – Accounting for Goods & Service Tax (GST)

      • Meaning of GST
      • Various Taxes subsumed under GST
      • GST Rate Chart
      • Objective or advantages of GST
      • Tax Structure under GST
      • Accounting Procedures

Chapter 11 – Books of Original Entry – Cash Book

      • Meaning of Cash Book
      • Types of Cash Books
      • Format of Cash Book
      • How to record entries in Cash Book

Chapter 12 – Books of Original Entry – Special Purpose Subsidiary Book

      • Format and preparation of Special Purpose Subsidiary Book includes
        • Purchase Book
        • Sales Book
        • Purchase Return Book
        • Sales Return Book
        • Journal Proper

Chapter 13 – Ledger Creation

      • Meaning and Importance of Ledger
      • Format of Ledger
      • How to Make Ledger

Chapter 14 – Trial Balance and Errors

      • Meaning and Objective of preparation of Trial Balance
      • How to Prepare Trial Balance and How to identify & correct the errors

Chapter 15 – Rectification of Errors

      • How to make rectification error of One Sided Error and Two Sided Error
      • Meaning and use of Suspense Account
      • Rectification of Errors using Suspense Account and Disposal of Suspense Account

Chapter 16 – Bank Reconciliation Statement

      • Meaning of Bank Reconciliation Statement (BRS)
      • Causes of Differences in the Cash Book and Pass Book Balances
      • Need and Importance of BRS
      • Procedure of preparing BRS
      • Preparation of Amended Cash Book

Chapter 17 – Depreciation

      • Meaning of Depreciation
      • Causes of Depreciation
      • Need for Providing Depreciation
      • Factors determining the amount of Depreciation
      • Methods of Depreciation
      • Asset Disposal Account

Chapter 18 – Provision and Reserves

      • Meaning and Importance of Provisions and Reserves
      • Difference Between Provisions and Reserves
      • Types of Reserves

Chapter 19 – Capital and Revenue Items

Chapter 20 – Financial Statement – Without Adjustment

      • Meaning of Financial Statements
      • Users of Financial Statements
      • Meaning, Need and Preparation of Trading Account
      • Meaning, Need and Preparation of Profit & Loss Account
      • Operating Profit and Net Profit
      • Meaning, Need and Preparation of Balance Sheet

Chapter 21 – Financial Statement – With Adjustment

      • Meaning and Need of Various Adjustments
        • Closing Stock
        • Outstanding Expenses
        • Prepaid Expenses
        • Depreciation
        • Accrued Income
        • Unearned Income
        • Interest on Capital
        • Interest on Drawing
        • Interest on Loan (Dr & CR Loan Balance)
        • Bad Debts
        • Provision for Bad and Doubtful Debts
        • Provision for Discount on Debtors
        • Abnormal Loss
        • Charity in the form of Goods etc
        • Goods distributed as Free Sample
        • Drawing of Goods
        • Deferred Revenue Expenditure
        • Managers Commission on Net Profits
        • Contingent Liability
        • Capital Expenditure treated as Revenue Expenditure
        • Goods Sold and Dispatched but omitted to be recorded
        • Goods Purchased but omitted to be recorded
        • Sale of Goods on Approval Basis

Chapter 22 – Accounting from Incomplete Records

      • Meaning and Features of Incomplete Records
      • Uses of Incomplete Records
      • Limitation of Incomplete Records
      • Ascertainment of P&L from Incomplete Records by preparing Statement of Affairs

All The Best For Your Class 11th Journey With Accounts Seekho