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CBSE Class 11 Accountancy 2023-24: Updated Syllabus

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Last updated date: 27th Mar 2024
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MVSAT 2024

CBSE Class 11 Accountancy Syllabus - Free PDF Download

Vedantu has developed NCERT Accountancy Book Class 11 syllabus, tailored to the CBSE curriculum for the academic year 2023-24. The syllabus encompasses various topics and concepts related to accountancy, providing a structured approach for students to study effectively. It covers essential areas such as financial accounting, cost accounting, and company accounts.


Students are advised to thoroughly study the prescribed contents within each topic to gain a deep understanding of the subject. The syllabus also offers insights into the exam pattern, question paper design, internal assessment, and practical requirements. To access the complete syllabus, you can download it from the link provided in this article.

It is crucial to familiarise yourself with the latest CBSE NCERT Accountancy syllabus for Class 11, as it will serve as a vital resource in your preparation for the CBSE Class 11 Accountancy Board Exam. Make sure to follow the syllabus guidelines and allocate sufficient time and effort to each topic to enhance your exam readiness.


By following the updated curriculum and dedicating yourself to systematic study, you will be well-prepared to excel in the CBSE Class 11 Accountancy Board Exam. Best of luck!

Competitive Exams after 12th Science

CBSE Class 11 Accountancy Revised Syllabus 2023-24


Units

Unit Name

Marks

Part A: Financial Accounting-1 


Unit-1

Theoretical Framework 

12

Unit-2

Accounting Process 

44

Part B: Financial Accounting-II 


Unit-3

Financial Statements of Sole Proprietorship

24

Part C: Project Work 

20

Total

100


Part A: Financial Accounting - I  

Unit-1: Theoretical Frame Work 

Introduction to Accounting  

Accounting- concept, meaning, as a source of information, 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- Entity, Business Transaction, Capital, Drawings. Liabilities (Non Current and Current). Assets (Non Current, Current); Expenditure (Capital and Revenue), Expense, Revenue, 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  

Basic Accounting 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 Advantages.  


Theory Base of Accounting 

Fundamental accounting assumptions: GAAP: Concept  

Basic Accounting 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 Advantages. 


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  

Journal proper

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

Depreciation, Provisions and Reserves  

Depreciation: Meaning, Features, Need, 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  

Method of recoding depreciation 

i. Charging to asset account 

ii. Creating provision for depreciation/accumulated depreciation account  

Treatment of disposal of asset  

Provisions, Reserves, Difference Between Provisions and Reserves.  

Types of Reserves: 

i. Revenue reserve 

ii. Capital reserve 

iii. General reserve 

iv. Specific reserve 

v. Secret Reserve  

Difference between capital and revenue reserve


Trial Balance and Rectification of Errors

Trial balance: objectives, meaning and preparation 

(Scope: Trial balance with balance method only)  

Errors: classification-errors of omission, commission, principles, and compensating; their effect on Trial Balance.  

Detection and rectification of errors; 

(i) Errors which do not affect trial balance 

(ii) Errors which affect trial balance  

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. Opening journal entry. Trading and Profit and Loss Account: Gross Profit, Operating profit and Net profit. Preparation. Balance Sheet: need, grouping and marshalling 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.  


Part C: Project Work (Any One) 

1. Collection of source documents, preparation of vouchers, recording of transactions with the help of vouchers. 

2. Preparation of Bank Reconciliation Statement with the given cash book and the pass book with twenty to twenty-five transactions. 

3. 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 and profit (loss), assets and liabilities are to be depicted using pie chart / bar diagram.

Conclusion:

The NCERT Accountancy book Class 11 syllabus provides students with a strong foundation in accounting principles and practices. By following the updated curriculum for the 2023-24 academic year, students can develop a comprehensive understanding of the subject and excel in their exams. Remember to utilise effective study strategies, practice regularly, and stay updated with the latest trends in accounting to achieve success in CBSE Class 11 Accountancy. Good luck with your studies!

FAQs on CBSE Class 11 Accountancy 2023-24: Updated Syllabus

1. What is the Objective and Aim of the Class 11 Accountancy Syllabus?

The emphasis of the course is on developing a basic understanding of accounting in the students of class 11. Accountancy as a subject is introduced after Class 10th. The syllabus of Class 11 provides an insight into the fundamentals of accountancy. The course is designed to develop a firm foundation of clear theoretical knowledge about the subject. The theoretical framework allows students to properly understand the concepts of accounting, its objectives, meaning and importance. These are critical in learning the practical aspect of using accountancy tools in the preparation of financial statements.


Furthermore, the course allows the students to engage in the practical aspect of accountancy by having them do project work that puts them in a real-life case scenario. It builds their aptitude, evaluation and problem-solving skills in the longer run. This also increases their dexterity in solving accounting problems.

2. What is the Examination Pattern for Class 11 Accountancy Paper?

The theoretical examination is for 80 marks and the time allotted is 3 hours. Students are required to solve different types of questions such as as- Objective type questions, Very short answer type questions, short answer type questions and long answer type questions. These questions test the student’s knowledge of the theory and application of concepts.


Remembering and Understanding (44 Marks): Students are required to exhibit memory of learned concepts and terms of accountancy. Your ideas need to be well organised and logical to portray your clear understanding of the topic.


Application Based (19 Marks): Students need to use their knowledge of the concepts in solving problems that are new to them. It tests the application of underlying knowledge in students.


Analysing, Evaluating and Creating: It requires students to logically analyse given information, process it and answer them according to their interpretation.

3. What is there in unit 1 of the accounting syllabus? Does vedantu provide syllabus ? What is the source of this syllabus?

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

  • Vedantu has all the syllabus attached with the link, This syllabus is written down by referring all the CBSE Textbooks

4. What is unit 2 of the CBSE Syllabus for Class 11 Accountancy Term (1 & 2) 2023-24?

Vedantu has all the unit syllabus available on their website. 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 cash book

  • Purchases book

  • Sales book

  • Purchases return book

  • Sales return book

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 Amortization

  • Methods of Depreciation:

i. Straight Line Method (SLM)

ii. Written Down Value Method (WDV)

  • Difference between SLM and WDV; Advantages of SLM and WDV

  • Accounting treatment of depreciation

i. Charging to 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