(Updated) Term Wise class 11 Accountancy Syllabus 2021-22 CBSE Board

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Looking for Term 1 and 2 Syllabus of Accountancy class 11 CBSE for 2021-22 session.

First, let me congratulate that you have opted for Commerce stream. See, there are certain subjects in the commerce field that are compulsory.

Accountancy is one of those.

The CBSE Board announced the class 11th accountancy syllabus in April 2021-22 itself. At that time board did not cut any topic in the syllabus.

But on July 5, 2021-22. The Board announced a new syllabus where examinations are now divided in two terms.

1st term would be held in November – December. Whereas the second term is expected to be held in March April.

The whole syllabus is divided 50-50 into both terms.

The best part is the syllabus of 1st term would not be repeated in the 2nd term.

Now let’s discuss your Term wise Accountancy subject syllabus of Class 11th CBSE Board for the 2021-22 session.

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Revised Term Wise syllabus of Accountnacy class 11 CBSE 2021-22?

For the 2021-22 session, there is a 30% reduction in the syllabus. This 30% has been deducted in certain chapters only.

Class 11th Revised Accounts Syllabus 2021-22 CBSE Board

Let’s first have a glimpse over the complete syllabus of Accountancy class 11 for the 2021-22 session of the CBSE Board.

1st (Term – 1) revised syllabus of Accountancy class 11 for 2021-22 CBSE Board

Theory:- 40 Marks

Time Allotted:- 90 Minutes

S.NTerm – 1 (MCQ Based Question PaperMarks
Part AFINANCIAL ACCOUNTING-I

UNIT 1

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
28
Total40
Project Work (Part -1): 10 Marks

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PART A:

UNIT – 1: FINANCIAL ACCOUNTING

Introduction of 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.

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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.
  • Depreciation, Provisions and Reserves
  • Depreciation: Concept, Features, Causes, factors
  • Other similar terms: Depletion and Amortisation
  • Methods of Depreciation:
  • Straight Line Method (SLM)
  • 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

  • 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

2nd (Term – 2) revised syllabus of Accountancy for 2021-22 CBSE Board

Theory:- 40 Marks

Time:- 2 hr

S.NTerm – 2nd Subjective paperMarks
Part AUNIT 2
ACCOUNTING PROCESS:

1. ACCOUNTING FOR BILLS OF EXCHANGE 12

2. TRIAL BALANCE AND RECTIFICATION OF ERRORS
12
Part BFINANCIAL ACCOUNTING-II

UNIT 3

FINANCIAL STATEMENTS OF SOLE PROPRIETORSHIP FROM COMPLETE AND INCOMPLETE RECORDS

20
Part B UNIT 4

COMPUTERS IN ACCOUNTING


8
Total40
Project Work (Part -2): 10 Marks

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PART – A

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. Dishonor 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.

Unit 4: Computers in Accounting

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

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

The project work would be divided into two parts i.e. Term I (10 marks) and Term II (10 marks) for the purpose of assessment and will be covered as detailed below.

Comprehensive project of any sole proprietorship business. This may state with journal entries and their ledger postings, 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 a pie chart/bar diagram.

TERM -I

ParticularsMarks
Project (Till Ledger Posting and balancing of accounts)10

TERM – II

PARTICULARSMARKS
Project (Financial statements and depiction using diagrammatic/graphical tools) 10
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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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