NCERT Syllabus for Class 11 Accountancy 2022-2023, Download PDF for the Revised Syllabus

NCERT Syllabus for Class 11 Accountancy 2022-2023 Part A: Financial Accounting - I  

Unit-1: Theoretical Frame Work 

Introduction to Accounting  

• Accounting- concept, meaning, as a source of information, 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- Entity, Business Transaction, Capital, Drawings. Liabilities (Non-Current and Current). Assets (Non-Current, Current); Expenditure (Capital and Revenue), Expense, Revenue, 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  
• Basic Accounting 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 Advantages

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  
• Journal proper
• Note: Including trade discount, freight and cartage expenses for simple GST calculation.  
• Ledger: Format, posting from journal and subsidiary books, Balancing of accounts.

Bank Reconciliation Statement:

• Need and preparation, Bank Reconciliation Statement

Depreciation, Provisions and Reserves  

• Depreciation: Meaning, Features, Need, Causes, factors  
• Other similar terms: Depletion and Amortization  
• Methods of Depreciation: Straight Line Method (SLM), Written Down Value Method (WDV) 
• Difference between SLM and WDV; Advantages of SLM and WDV  
• Method of recoding depreciation: Charging to asset account, Creating provision for depreciation/accumulated depreciation account  
• Treatment of disposal of asset  
• Provisions, Reserves, Difference Between Provisions and Reserves.  
• Types of Reserves: Revenue reserve, Capital reserve, General reserve, Specific reserve, Secret Reserve  
• Difference between capital and revenue reserve

Trial Balance and Rectification of Errors

• Trial balance: objectives, meaning and preparation 
• Errors: classification-errors of omission, commission, principles, and compensating; their effect on Trial Balance.  
• Detection and rectification of errors; Errors which do not affect trial balance and Errors which affect trial balance  
• Preparation of suspense account. 

Also read;
NCERT Syllabus for Class 11 Physics
NCERT Syllabus for Class 11 Chemistry
NCERT Syllabus for Class 11 Biology
NCERT Syllabus for Class 11 Maths
NCERT Syllabus for Class 11 English
NCERT Syllabus for Class 11 Hindi
NCERT Syllabus for Class 11 Geography
NCERT Syllabus for Class 11 History
NCERT Syllabus for Class 11 Political Science
NCERT Syllabus for Class 11 Sociology
NCERT Syllabus for Class 11 Psychology
NCERT Syllabus for Class 11 Sanskrit
NCERT Syllabus for Class 11 Home Science 
NCERT Syllabus for Class 11 Economics
NCERT Syllabus for Class 11 Computer Science
NCERT Syllabus for Class 11 Business Studies

 

NCERT Syllabus for Class 11 Accountancy 2022-2023  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. Opening journal entry. 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.   

NCERT Syllabus for Class 11 Accountancy 2022-2023  Part C: Project Work (Any One) 

• Collection of source documents, preparation of vouchers, recording of transactions with the help of vouchers. 
• Preparation of Bank Reconciliation Statement with the given cash book and the pass book with twenty to twenty-five transactions. 
• Comprehensive project of any sole proprietorship business. This may state with journal entries and their ledgering, preparation of Trial balance. Trading and Profit and Loss Account and Balance Sheet. Expenses, incomes and profit (loss), assets and liabilities are to be depicted using pie chart / bar diagram.

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