Class XI: Accountancy Syllabus
ACCOUNTANCY CLASS-XI (Full Marks -100)
1. Introduction to Accountancy :
(a) Nature and Scope of Accountancy : Aims and Objectives; Branches of Accounting—Financial Accounting—Cost Accounting—Management Accounting ; Brief History of Evolution of Accountancy.
(b) Important terms in Accountancy : Only definitions and examples if necessary : Transaction, Capital, Drawing, Assets, Liabilities, Receipts, Payments, Income, Expenditure, Expenses, Gains, Losses, Goods, Purchases, Import, Sales, Export, Return Inward, Return Outward, Freight, Carriage, Stock, Amount Receivable, Debtors, Bad Debt, Amount Payable, Creditors, Bills Receivable, Bills Payable, Investment, Discount, Trade Discount, Cash Discount.
(c) Business Financial Statement and Accounting Concepts and Accounting Conventions : Balance Sheet, Profit & Loss Account and other Financial Statements; Basic Assumptions underlying Financial Statement— Entity Concept—Continuity of Concept—Going Concern Concept— Accounting Period Concept; Periodical Accounting; Concept of Capital and Revenue; Users of Financial Statement.
(d) Accounting Information and Accounting Standards : Accounting Information—Characteristics—Users of Accounting Information, Accounting Information and Decision-making ; Accounting Standards— Meaning— Purposes, [elementary level discussion]
2. Accounting Cycle and Double Entry Book-keeping :
Interpretation of Accounting Cycles—Definition and Classification of Accounts—Rules for Debiting and Crediting—The Basic Accounting Equation—Concept of Debit, Credit and Duality—Nature of Transactions — Journalising the Transactions—Posting of Transactions in Ledger Accounts—Balancing of Accounts; Special Journals ie; Day Books— Purchases Day Book—Sales Day Book—Purchases Return or Return Outward Book—Sales Return or Return Inward Book—Debit note—Credit Note—Bills Receivable Book—Bills Payable Book—Journal Proper.
3. Accounting for Cash :
Preparation of Cash Book—Single Column—Double Column—Triple Column—Petty Cash Book—Multi-column Cash Book—Bank Reconciliation Statement—Preparation of Bank Reconciliation Statement before amendment of Cash Book and after amendment of Cash Book—Preparation of Bank Reconciliation by comparing Cash Book and Pass Book: (a) When Cash Book and Pass Book for a Particular period of time are given, (b) When Cash Book/ Pass Book of a particular period is given and Pass Book/Cash Book of the Preceeding period is also given.
4. Accounting for Bills of Exchange :
Bill of Exchange—Features-Parties—Advantages—Types of Bills— Endorsement—Discounting Bills—Honour and Dishonour of Bills-Accommodation Bills—Average Due Date and Account Current—Methods of ascertaining the Average Due Date— Preparation of Account Current.
5. From Trial Balance to Financial Statement :
Preparation of Trial Balance—Features and Utilities of Trial Balance—Is Trial Balance a Ledger Account—Limitations of a Trial Balance—Error detected by a Trial Balance—Error detected by a Trial Balance—Error not detected by Trial Balance—Step to detect errors through a Trial Balance.
6. Terminable Venture :
Features—Differences between Venture Accounting and Periodical Accounting—Differences between a Terminable Venture and a Going Concern—Ascertainment of Profit or Loss of a Single Venture only.
7. Farm Accounting : (AgriculturalFarm, Dairy Farm, Fitsher Farm and Poultry Farm)
Features of Farm Accounting—Objectives of Farm Accounting— Recording of Transactions—Usual Heads of Income and Expenses of Farms.
8. Elements of Cost Accounting :
Meaning of Cost—Elements of Cost—Materials, Labour, and Overheads and Preparation of Cost Sheet.
9. Accounting in Computerised Environment:
Meaning-Need for Computerised Accounting—Limitations of Computerised Accounting—Manual Accounting vs Computerised Accounting.
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