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Accountancy Revision Notes for Class 11

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Last updated date: 23rd Apr 2024
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Revision Notes for CBSE Class 11 Accountancy - Free PDF Download

Class 11 Accountancy is a crucial subject that teaches various concepts and principles to the students. Studying this subject needs the support of complete study material. For this, students will need the notes to revise all the chapters and recall what they have studied. Download and refer to the 11th Accountancy Notes compiled by the experts for revision. Understand the concepts faster and recall them to score good marks in the exams.


If you are a Class 11 CBSE board student and looking to score well in Accountancy, then you should always refer to Basic Accounting Terms Class 11 Notes PDF available on Vedantu for free. These study materials are designed in such a way that studying these ensure the highest possible marks in the exam. These revision notes are designed as per the latest CBSE guidelines and are quite important to every student of Class 11. These notes should be followed diligently as these build the fundamentals of Accountancy for every student at this stage. You can download the Accountancy Class 11 Notes chapter wise from Vedantu website or app through your smart device.

Detailed Overview of Class 11 Accountancy Revision Notes

Class:

11

Subject:

Accountancy

Number of Chapters:

15

Content-Type:

Text, Videos, Images and PDF Format

Academic Year:

2024-25

Medium:

English

Available Materials:

Chapter Wise

Other Materials

  • Important Questions

  • NCERT Solutions

Download CBSE Class 11 Accountancy Revision Notes 2024-25 PDF

Also, check CBSE Class 11 Accountancy revision notes for All chapters:


Competitive Exams after 12th Science

Introduction to Class 11 Accountancy:

Accountancy is a very important subject for every student of Class 11 as it deals with the basic accounting concepts. Studying this subject well helps you to strengthen your fundamentals of the subject. Through this subject, you will be able to grasp some of the very difficult concepts such as Analysis of Business Transaction, How to maintain the procedure of Bank Reconciliation Statement, Trial Balance & Rectification of Errors, Depreciation, Provision, & Reserves, how to maintain computerised accounting system.


Our well-designed CBSE Accounts Class 11 Notes PDF is structured and written by subject matter experts with many years of experience in the field of teaching. Besides, the study materials in the revision notes are precise and offer a comprehensive and easy understanding of the various topics.


CBSE Class 11 Acountacy Weightage 2024-25

Units

Unit Name

Marks

Part A: Financial Accounting-I


1

Theoretical Framework 

12

2

Accounting Process 

44

Part B: Financial Accounting-II


3

Financial Statements of Sole Proprietorship

24

Part C: Project Work

20

TOTAL

100


What Will You Learn From the Chapters of Class 11 Accountancy?

CBSE Class 11 Accountancy is comprised of a total of 15 chapters, i.e. Introduction to Accounting, Theory Base of Accounting, Recording of Transaction - I, Recording of Transaction - II, Bank Reconciliation Statement, Trial Balance and Rectification of Errors, Depreciation, Provision, and Reserves, Bill of Exchange, Financial Statements - I, Financial Statements – II, Accounts from Incomplete Records, Applications of Computers in Accounting, Computerised Accounting System, Structuring Database for Accounting, Accounting System Using Database Management System.


To every Class 11 Commerce student, Accountancy is a very significant subject as it helps you understand the need for the theory base of Accounting. It also helps you to know the Accounting Standards set by the Institute of Chartered Accountant of India (ICAI) and understand the basic Accounting concepts and their definitions. You will also learn to describe the basis and the underlying system of Accounting.


Advantages of Using Our CBSE Accountancy Class 11 Notes PDF:

Getting a stronghold of Class 11 Accountancy may not seem easy to a lot of students as students at this age tend to procrastinate a lot when it comes to studying and revising, But students need to be very disciplined if they want to score well in the final examination. And, you will have to put in hard work.


But to make it easy for you, we, at Vedantu, provide you with all the necessary materials to be an expert in Accountancy. If you are looking for a well-designed study materials and revision notes for Class 11 Accountancy, we have provided a chapter-wise revision notes for Class 11 Accountancy on our website that you can download at any time. And, the best part about these notes is these are created by the experts who have years of experience in the field of teaching. That’s why the language of the notes are quite concise and simplest so that the students don’t face any difficulties during the exam preparation.


  • Your fundamentals will be stronger than ever since it summarises all the important topics in one place.

  • You can review the entire textbook in literally no time.

  • Our notes are prepared by experienced teachers and subject matter experts.

  • You can score good marks since your fundamentals are strong.

  • This revision note covers all the key important points of the entire Accountancy book chapter-wise.

  • So, it saves a lot of precious time and effort.

  • The best part is you can download the revision notes for free and PDF format with the help of any smart device.

  • You can avoid procrastinating when it comes to revising the entire Accountancy textbook because you don’t need to go through the entire book but just the important points.


Importance of Studying Accountancy at Class 11:

Accountancy is the key step of keeping records of different financial events. Accountancy is such a subject that it is going to help you throughout your future even if you don’t become an accountant. Learning the subject very well will help you lay a very concrete foundation for other fields as well. If you are good in Accountancy, then you will be able to manage your finance-related matters efficiently. You just need to learn the basics of Accountancy thoroughly.


To learn the subject at primary level, you need to study Accountancy thoroughly at Class 11 and 12. At Class 11, you will get to learn the theory base of Accounting which will lay a strong base of the subject. You can access the revision notes for Accounts NCERT Class 11 on Vedantu from the aforementioned links.


Why Should You Choose Vedantu?

If you are looking for Class 11 revision notes for Accountancy, then you have come to the right place. Apart from well-crafted revision notes, we offer study materials, previous years’ questions papers, NCERT Solutions, sample papers at absolutely free of cost. Our subject matter experts understand that not all students learn and grasp concepts in the same manner. We aim to help students self-study, self-evaluation and learn at their own pace by providing them with online materials that they can refer to when needed.


Here are some reasons why you should always choose Vedantu over others:

We Focus on Every Kind of Students:

Our learning materials are designed in such a manner that all the students regardless of their learning capability can use these as per their requirement. All of our study materials are written in simple language so that everyone can understand these easily.


Learn Anywhere at Any Time:

Besides being easily understandable, our study materials can be accessed anytime, anywhere by anyone. All you need for this is just a smart device and the internet. With the help of these two, you can easily access our study materials anywhere at your own comfort.


Avoid Commute Time:

One of the best features of Vedantu is that it saves a lot of your commute time.  Earlier if you needed study notes from your tutor, you would travel to your tutor’s place to attend the classes. But with the help of Vedantu, you can access the study materials at the comfort of your home or wherever you are. It saves a lot of your precious time.


Get Access to our Excellent Subject Experts

Not only the study materials, but you will also be provided with the tuition classes by our experts. So, you are bound to get a better result when you get to interact with the best teachers in the industry while studying the best study materials.


Cover all the Key Points of the Chapter

Our CBSE Accounts Class 11 Notes PDF includes all of the key points of the Accounting book. In addition to that, our experts also make references from other relevant books so that it becomes easier for you to understand all the chapters easily. You can cover all of the key points of the theory base of Accounting by reading through our Accounts NCERT Class 11 PDF. You can directly look at the Accounts Class 11 Notes to focus on important points so that you are not wasting your precious time.


All Notes as Per NCERT Guidelines

The solutions provided by Vedantu strictly adhere to the NCERT guidelines. Accountancy Class 11 notes are simplified so that students find them easy to understand and can retain them easily without any difficulty. We have created notes in such a way that they will greatly benefit you during exam time. We have covered everything in detail; you won’t miss anything.


Vedantu, a leading online learning platform in India, aims to change the traditional method of teaching and learning across the country. We provide the best quality study materials to our students of all classes including NCERT Solutions, Revision Notes, Sample Papers, Previous Years Question Papers along with the solutions. If you are eager to learn, you can access all our quality study materials within a moment with the advance of technology.


Significance of CBSE Quick Revision Notes for Accountancy Class 11

There are a total of 15 chapters in the Class 11 Accountancy syllabus. All these chapters have been handpicked by the CBSE board for teaching the concepts of accountancy. These chapters need proper notes to revise and complete preparing the chapters accordingly.


The notes prepared by the subject experts will be the best bet to follow and focus on understanding the concepts, principles and formulas described in the chapters. These notes will help students to complete the revision part faster and will also guide them to recall the concepts more quickly.


The simpler format of these revision files will also help students to comprehend the accountancy concepts and principles explained in the syllabus. Hence, these notes can be used for studying before proceeding to solve the exercise questions.


The conceptual development of the students will be boosted when these notes are added to the study material. Without going through the vast syllabus, students can easily run through the Class 11 Accountancy Chapter 1 Notes and complete revising in no time.


Benefits of CBSE Accountancy Notes for Class 11

  • The notes have been formulated following the latest CBSE guidelines. It means the content of these notes will also guide students to keep them updated on the chapters. They can recall what they have studied faster before an exam without missing any important topic.

  • The notes have been formulated in separate files for all the chapters. Hence, students will easily find the chapter-wise notes on the list and download them.

  • Once downloaded, these notes can be referred to anytime you want. You can use them according to your exam schedules. In fact, the regular revision of Class 11 Accountancy chapters will become a lot easier when you have these notes in your hands.


Download CBSE Accountancy Notes for Class 11 PDF

Perform the Class 11 Accountancy Notes PDF Download for all the chapters and complete your study material. Save your precious study time and use these notes to revise. Focus on how the experts have simplified the concepts, fundamental principles and formulas related to the advanced topics of Class 11 Accountancy. Follow these simpler versions and recall what you have studied easily during an exam. This is how you can use these revision notes to score more in the exams. 


CBSE Class 11 Accountancy Study Materials

FAQs on Accountancy Revision Notes for Class 11

1. Are the CBSE Class 11 Accountancy Revision Notes a good study resource?

Yes. The CBSE Class 11 Accountancy Revision Notes make a very good study resource. All the essential key points from every chapter of the Class 11 Accountancy syllabus are covered in these revision notes. These notes are very helpful for a quick revision of the accountancy syllabus. The subject matter experts at Vedantu have prepared these revision notes in such a way that facilitates easy learning of the terminologies, theories, and problem-solving techniques for numerical type questions from Accountancy. You can rely on these notes if searching for the key points in the textbook seems to be a tedious job before the examination.

2. What are the important topics covered in the CBSE Class 11 Accountancy Revision Notes?

The important topics covered in the CBSE Class 11 Accountancy Revision Notes are listed below for your reference.

  • Theory Base of Accounting

  • Recording of Transactions- I

  • Recording of Transactions- II

  • Trial Balance and Rectification of Errors

  • Depreciation

  • Financial Statements- I

  • Financial Statements- II

  • Applications of Computers in Accounting

  • Structuring Database for Accounting

  • Accounting System Using Database Management System

All these topics are discussed with proper explanations and examples in these revision notes, to make it convenient for students to understand the concepts.

3. What is a trial balance in simple words?

A trial balance is apparently similar to a worksheet, which has two columns, one for accounting the debits and the other for accounting the credits. The net debit amount always has to be equal to the net credit amount. The debits and credits of a business account cover the assets, proceeds, liabilities, and expenses of the account.


The main purpose of maintaining a trial balance sheet is to ensure that there are no errors in accounting for the transactions of a business. It helps to identify if there are any errors in the double-entry accounting system of the business organization.

4. Are the CBSE Class 11 Accountancy Revision Notes difficult to learn?

No, the CBSE Class 11 Accountancy Revision Notes are not at all difficult to learn. Instead, these notes are prepared by our subject-matter experts to make the learning process easier for students. These revision notes are available in the PDF format on Vedantu and you can download the file for free from our website or mobile application. There are several solved examples of the numerical type problems of accounting in these revision notes. By following these stepwise solutions and explanations, you will be able to develop a strong understanding of all the concepts in the syllabus of Class 11 accounting.

5. What is the first chapter of accounts Class 11?

The first chapter in the class 11th accounts is called “Introduction to Accounting”. Here, a basic outline of accounting is provided. It is the process of reporting, recording and analyzing the economic data. It helps the student become aware of the fundamentals of accounting, objectives of accounting, characteristics of accounting, different branches of accounting, steps of the accounting process, advantages of accounting, limitations of accounting. In order to understand the succeeding chapters, the students have to have a strong understanding of this particular chapter. Thus, the student needs to comprehend and have a strong grip on this chapter. You can also check the Vedantu notes for a detailed explanation for Class 11 accountancy and its revision notes.

6. How can I pass my class 11 account?

To clear Class 11 Accounts, it is important for the student to follow certain suggestions.

Firstly, it is advisable that students devise and follow a certain routine where they allot equal time to every subject. They need to follow it regularly so that they are able to complete all the subjects on time without leaving anything pending.

Secondly,  it is important to read all the chapters line by line in order to attain a perfect understanding.

Once they are done with the reading of the chapters, the students need to resort to the NCERT solutions, where they get additional practise and training so that their existing knowledge is further strengthened and polished.

These practices will help the student in not just passing, but also attaining a good score in their  Class 11 Accountancy.

7. What is Accounting  Class 11?

Accounting is the process of recording, analyzing, classifying and summarising the transactions and events pertaining to the financial character and thus interpreting the results. The first chapter of the Class 11 syllabus provides the student with a basic understanding of the concepts important and relevant to the study of accounting. Thus, it is extremely important for the student to be well versed with the topics and concepts covered in the first chapter in order to have a better understanding of the chapters that succeed it. The Students can refer to the NCERT solutions by Vedantu for  Class 11 Accountancy to better comprehend the chapter as it will help them in retaining the concepts.

8. Is Class 11 Subject Accounts easy?

To make anything easier, the individual is advised to practice in the particular area where they want to strengthen their skills. This is also applicable to the students of Class 11. In order to strengthen the spots where they feel they are weak, it is important for them to practice and attain a grip of the concepts and the topics. In order to achieve this, they have to read all the chapters and mark all the important areas that require extra attention. Apart from this, it is also advisable that they refer to the NCERT solutions and practice all the exercises so that the concepts become crystal clear to them. Thus, giving extra attention to areas where they lack will help them convert it into their strong point, making the learning process easy.

9. Are the NCERT Solutions helpful for Class 11 Accounts?

Yes, the NCERT Solutions are definitely the most helpful guidebooks for the students of Class 11 who are pursuing Accounts. These guide books help the student be thorough with the concepts through practice. The exercises that these exercises provide are immensely helpful in getting an idea of how the questions are set in the examination. All the exercises are solved and thus the learning process becomes easier. Thus, it goes without saying that with the practice of these NCERT solutions, the student can easily score more. The PDFs of NCERT Solutions are available on the Vedantu app and on the Vedantu website for free of cost.