[CBSE] Accounts syllabus class 11 (2022-23)

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Looking for syllabus of Accountancy class 11 CBSE Board for 2022-23 session.

We have summed up the syllabus in detail.

CBSE class 11 Accountancy syllabus for 2022-23

Theory 80 Marks – Time 3 Hours

Project 20 Marks

UnitsMarks
Part – AFinancial Accounting – I
Unit – I Theoretical Framework
1. Introduction to Accounting
2. Theory Base of Accounting
12
Unit – 2 Accounting Process
1. Recording of Business Transactions
2. Bank Reconciliation Statement
3. Depreciation, Provisions, and Reserves
4. Accounting for Bills of Exchange
5. Trial balances and Rectification of Errors
40
Part – BFinancial Accounting – II
Unit-3: Financial Statements of Sole Proprietorship from Complete and Incomplete Records
20
Unit – 4: Computers in Accounting04
Part – CProject Work20
Total 100

PART A: FINANCIAL ACCOUNTING – I

Unit-1: Theoretical FrameWork

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

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 with Adjusted Cash Book

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)

Note: Excluding change of method

Difference between SLM and WDV; Advantages of SLM and WDV

Accounting treatment of depreciation

i. Charging to an asset account
ii. Creating provision for depreciation/accumulated depreciation account
iii. Treatment for disposal of the 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 the due date
viii. Negotiation
ix. Bill sent for collection
x. Dishonour of bill
xi. Retirement of bill
xii. Renewal of bill

Accounting Treatment

Note: excluding accounting treatment for accommodation bill

Trial balance and Rectification of Errors

Trial balance: objectives and preparation
(Scope: Trial balance with balance method only)

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 marshaling 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.

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

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

Introduction to operating software, utility software and application software.

Introduction to accounting information system (AIS) as a part of Management Information System.

Automation of accounting process: meaning

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

Scope:

(i) The scope of the unit is to understand accounting as an information system for the generation of accounting information and preparation of accounting
reports.

(ii) It is presumed that the working knowledge of any appropriate accounting software will be given to the students to help them learn basic accounting
operations on computers.

Part C: Project Work (Any One)

  1. Collection of source documents, preparation of vouchers, and recording of transactions with the help of vouchers.
  2. 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, profit (loss), assets, and liabilities are to be depicted using a pie chart/bar diagram.

PROJECT WORK

It is suggested to undertake this project after completing the unit on preparation of financial statements. The
student(s) will be allowed to select any business of their choice or develop the transaction of imaginary
business. The project is to run through the chapters and make the project an interesting process. The amounts
should emerge as more realistic and closer to reality.

Specific Guidelines for Teachers

Give a list of options to the students to select a business form. You can add to the given list:

  1. A beauty parlour
  2. Men’s saloon
  3. A tailoring shop
  4. A canteen
  5. A cake shop
  6. A confectionery shop
  7. A chocolate shop
  8. A dry cleaner
  9. A stationery shop
  10. Men’s wear
  11. Ladies wear
  12. Kiddies wear
  13. A Saree shop
  14. Artificial jewellery shop
  15. A small restaurant
  16. A sweet shop
  17. A grocery shop
  18. A shoe shop
  19. A coffee shop
  20. A music shop
  21. A juice shop
  22. A school canteen
  23. An ice cream parlour
  24. A sandwich shop
  25. A flower shop

After selection, advise the student(s) to visit a shop in the locality (this will help them to settle on a realistic amounts different items. The student(s) would be able to see the things as they need to invest in furniture, decor, lights, machines, computers etc.

A suggested list of different item is given below.

  1. Rent
  2. Advance rent [approximately three months]
  3. Electricity deposit
  4. Electricity bill
  5. Electricity fitting
  6. Water bill
  7. Water connection security deposit
  8. Water fittings
  9. Telephone bill
  10. Telephone security deposit
  11. Telephone instrument
  12. Furniture
  13. Computers
  14. Internet connection
  15. Stationery
  16. Advertisements
  17. Glow sign
  18. Rates and Taxes
  19. Wages and Salary
  20. Newspaper and magazines
  21. Petty expenses
  22. Tea expenses
  23. Packaging expenses
  24. Transport
  25. Delivery cycle or a vehicle purchased
  26. Registration
  27. Insurance
  28. Auditors fee
  29. Repairs & Maintenance
  30. Depreciations
  31. Air conditioners
  32. Fans and lights
  33. Interior decorations
  34. Refrigerators
  35. Purchase and sales

At this stage, performas of bulk of originality and ledger may be provided to the students and they may be asked to complete the same.

In the next step the students are expected to prepare the trial balance and the financial statements.

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Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his youtube channel and can download the Android & ios app for free lectures.

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