NCERT Book Class 11 Accountancy PDF

Class 11 is a vital class since students have the responsibility to study for their upcoming Board exams. Clearing the concepts at an early stage is a good way of going about with the preparation. The soft copy of the NCERT book is easily made available on the Vedantu platform and students can download them at their convenience. These books are available both on the website and their mobile application. Once downloaded, these can be accessed in offline mode as well. The book comes with unique topics and sub-topics which makes it easier for students to prepare themselves.

The CBSE curriculum for Accountancy is also compiled greatly keeping in mind the standard of the students and providing them best of help during the time of Boards examination. Some of the details of the chapter are discussed below:

Chapter-Wise Details of Class 11 Accountancy Book  

In this accountancy book of NCERT, there are 13 chapters in total. While Part 1 comprises the first 8 chapters, Part 2 comprises chapter 9 to 13. Summaries of these lessons are given below:

Chapter 1: Introduction to Accounting 

The first chapter provides an introduction to the basic concept of accounting, its objectives, characteristics, benefits and limitations. It elaborates the role of accounting in various businesses, providing insights into the practical world. Students learn how to analyse chunks of data through classification, measurement and summarisation.

Besides, the chapter details various terms related to finance and accounting, including transaction, entity, assets, liability, stock, revenues, capital, sales, expenses, gain, profit, loss, etc. Students can further learn the calculation of profit/loss through flow charts and examples. Our NCERT class 11 accountancy book PDF compiles all the important points to make textbook reading hassle-free. 

Chapter 2: Theory Base of Accounting 

A sound theory base forms the stepping stone to every discipline. This second chapter of class 11 accountancy NCERT book discusses the subject’s theoretical aspects including concepts, principles, rules, regulations and guidelines. It also contains details of the Accounting Standards outlined by ICAI. It is mandatory to abide by these Standards for maintaining uniformity in accounting practices. 

NCERT has developed the book keeping the practical benefits of students in mind. Through this chapter, students can understand why the theory base of accounting is necessary, learn the nature of GAAP and identify the purpose of basic accounting concepts.

Chapter 3: Recording of Transactions – I

While the previous chapters introduced the basics, this one goes into the details of the accounting process. To begin with, one has to identify the financial transactions which need to be recorded, arrange source documents and enter in the ledger’s individual accounts. This chapter helps a student learn how to apply accounting equations to clarify transaction effects, recording transactions using debit/credit rules and more. Accountancy Class 11 NCERT PDF simplifies these concepts of recording transactions and helps learners review the textbook effortlessly. If you are a student, you can instantly download the PDF for free and consult our solutions online.   
 

Chapter 4: Recording of Transactions – II 

For small businesses, recording their transactions in a ledger is convenient. However, as it grows and expands, posting every transaction in journals can become troublesome. This is when special journals like purchase book, sales book, cashbook, journal proper, purchases return, etc. Continuation of the previous one, this 4th chapter teaches how larger businesses can precisely record their large volumes of transactions in special journals. n\Numerous examples in table formats make it easier to understand. You can consult our NCERT Class 11 accountancy PDF containing all the crucial points in simpler and concise language. Practice the exercises to score higher in your accountancy paper.   
       

Chapter 5: Bank Reconciliation Statement 

Another important chapter of the accountancy book is this balance reconciliation statement. Besides maintaining bank transactions in cash books, it is crucial to verify the same with bank transactions of the company. The 5th chapter elaborates the meaning and necessity of a bank reconciliation statement. Most often, bank balance in an enterprise’s cash book doesn’t match with its passbook. Students learn to identify why pass books and cash books show such different bank balances. The book also enhances their skill to determine the accurate balance efficiently. If the textbook seems overwhelming, you can download study materials like accounts class 11 NCERT PDF to understand the chapter in detail.

Chapter 6: Trial Balance and Rectification of Errors 

The accountancy textbook of Class 11 includes this chapter to primarily explain the meaning, importance and method of preparing a trial balance. Trial balance is nothing but a tool that is utilised for verifying how correct the debit and credit amounts are. It is prepared by three major methods – the totals method, the balances method and totals-cum-balances method. 

In this lesson, students learn the objectives of trial balance preparation, various types of errors, methods of locating those and their rectification options. It teaches how to rectify the errors both by using and without a suspense account. The class 11 accounts NCERT book PDF contains numerous examples to further clarify the ideas and concepts of trial balance and error rectification.

Chapter 7: Depreciation, Provisions and Reserves 

This chapter deals with the concept of depreciation and how it differs from depletion and amortisation. Depreciation signifies the gradual and permanent decline in fixed assets’ value caused by the usage or due to time. The primary causes of depreciation include passage of time, obsolescence, expiration of legal rights and abnormal factors. It also explains the various points of differences between these two concepts, including purpose, basic nature, effect on taxable profits, presentation in the balance sheet, etc.  

Chapter 8: Bill of Exchange 

In India, when merchants purchase goods on credit, they often assure to pay the bill on due date through instruments of credit. Known as bills of exchange, these comprise an unconditional order in writing to make the payment on the agreed date. The Negotiable Instruments Act 1881 governs this instrument and its various features. This 8th chapter teaches students the advantages, necessity, distinguishing factors, parties involved, etc. in a bill of exchange. It also explains promissory notes and their features as defined by the law.  The NCERT Class 11 PDF elaborates on essential factors so that students learn to record transactions of bills of exchange in journals. Instead of reading the entire textbook, you can also go through study materials available online for quick understanding.  

Chapter 9: Financial Statements – I 

From here onwards, you’ll need to follow the Part II book. After journalising, posting and balancing, this 9th chapter takes you to the next step of accounting. It covers some of the vital topics of accounting such as financial statements, stakeholders, operating profit, the distinction between capital and revenue, trading, profit and loss account, opening entry and balance sheet. The lesson teaches how to prepare financial statements, know the types of information that stakeholders require, the difference between revenue and capital and more.           

Chapter 10: Financial Statements – II 

In most situations, accounting complexities are common in various business operations. It primarily happens as financial positions and incomes are determined according to the accrual basis of accounting. The process emphasises considering earning-based revenues to ascertain profitability and incurred-based expenditures.  

Chapter 11: Accounts from Incomplete Records 

This lesson deals with a crucial aspect of accounting – evaluating a firm’s gains or losses from incomplete records. Many small businesses do not follow the double-entry system and end up with incomplete records of financial transactions. Assessing the profit and loss of such enterprises, therefore, requires different approaches and expertise. In this chapter, you shall learn about incomplete records – their meaning, features, implementing statement of affairs method to compute profit/loss, preparing balance sheet, trading and profit and loss account, etc. Preparing students to face tomorrow’s business challenges, it also teaches them to prepare accounts to detect missing information, data or figures. You can find the features, reasons, preparation and ascertainment processes precisely in our Class 11 accountancy NCERT book PDF. 

Chapter 12: Applications of Computers in Accounting 

From manual paperwork to automation, we have come a long way. The role of computer technology in the business world is inevitable. A computer makes storing and processing the bulk amount of data not only effortless but also faster. This 12th chapter of your school’s accountancy book discusses the necessity of using computers for accounting. It also explains various types of relevant MIS reports and accounting information systems. 

Chapter 13: Computerised Accounting System 

The concluding chapter of NCERT accountancy book Class 11 comprises advanced discussions on the computerised accounting system. It deals with its nature, benefits, sourcing and limitations. By studying this lesson, you can precisely differentiate between a computerised and manual accounting system.    

NCERT proves beneficial since it has been compiled keeping in mind the CBSE curriculum. It saves time for preparation as all the contents and important points are compiled in a much lucid and easy way for students to understand. Students get to test their preparation by going through the various problems provided at the end of the chapter. This opens up the mind and helps in broadening their horizon.