Download myCBSEguide mobile app for FREE sample papers, last year papers, NCERT solutions, test papers, online tests, practice papers and many more features.

Install App Now

Download CBSE Revision Notes for CBSE Class 11 Accountancy Introduction to accounting Accounting- concept, objectives, advantages and limitations, types of accounting information; users of accounting information and their needs. Basic accounting terms: business transaction, account, capital, drawings, liabilities (non -current and current); assets (non-current and current) fixed assets (tangible and intangible assets), receipts (capital and revenue), expenditure (capital, revenue and deferred), expense, income, profits, gains and losses, purchases, purchases returns, sales, sales returns, goods, stock, inventory, trade receivables (debtors and bills receivable), trade payables (creditors and bills payable), cost, vouchers, discount - trade and cash.

Download CBSE Revision Notes for CBSE Class 11 Accountancy Theory Base of Accounting Fundamental accounting assumptions: going concern, consistency and accrual. Accounting principles: accounting entity, money measurement, accounting period, full disclosure, materiality, prudence, cost concept, matching concept and dual aspect. Accounting Standards and IFRS (International Financial Reporting Standards): concept and objectives. Double entry system of accounting. Bases of accounting - cash basis and accrual basis.

Download CBSE Revision Notes for CBSE Class 11 Accountancy Recording of Transactions An Accounting equation is based on the dual concept of accounting, according to which, every transaction has two aspects namely Debit and Credit. It means that every transaction in accounting effect both Debit (DR.) and Credit (Cr.) side equally.

Download CBSE Revision Notes for CBSE Class 11 Accountancy Ledger Trial Balance and BRS Bank reconciliation statement- concept, calculating bank balance at an accounting date: need and preparation. Corrected cash book balance. Ledger - format, posting from journal, cash book and other special purpose books, balancing of accounts. Trial balance: objectives and preparation {Scope: Trial balance with balance method only)

Download CBSE Revision Notes for CBSE Class 11 Accountancy Depreciation Provisions and Reserves Depreciation: concept, need and factors affecting depreciation; methods of computation of depreciation: straight line method, written down value method (excluding change in method). Accounting treatment of depreciation: by charging to asset account, by creating provision for depreciation/ accumulated depreciation account, treatment of disposal of asset. Provisions and reserves: concept, objectives and difference between provisions and reserves; types of reserves- revenue reserve, capital reserve, general reserve and specific reserves.

Download CBSE Revision Notes for CBSE Class 11 Accountancy Bill of Exchange Bills of exchange and promissory note: definition, features, parties, specimen and distinction. Important terms : term of bill, due date, days of grace, date of maturity, discounting of bill, endorsement of bill, bill sent for collection, dishonor of bill, noting of bill , retirement and renewal of a bill. Accounting treatment of bill transactions.

Download CBSE Revision Notes for CBSE Class 11 Accountancy Rectification of Error Errors: types-errors of omission, commission, principles, and compensating; their effect on Trial Balance. Detection and rectification of errors; preparation of suspense account.

Download CBSE Revision Notes for CBSE Class 11 Accountancy FS of Sole Proprietorship Financial statements: objective and importance. Trading and profit and loss account: gross profit, operating profit and net profit. Balance sheet: need, grouping, marshalling of assets and liabilities. 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, goods distributed as free samples and manager?s commission. Preparation of Trading and Profit and Loss account and Balance Sheet of sole proprietorship.

Download CBSE Revision Notes for CBSE Class 11 Accountancy FS of Non profit Organisation Not-for-profit organizations: concept. Receipts and Payments Account: features and preparation. Income and Expenditure Account: features, preparation of income and expenditure account and balance sheet from the given receipts and payments account with additional information.

Download CBSE Revision Notes for CBSE Class 11 Accountancy 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 MIS. Automation of accounting process: meaning. Stages in automation.

Download CBSE Revision Notes for CBSE Class 11 Accountancy Project Work in Accountancy Project Work in Accountancy class-11



Sponsored Links

Download Mobile App

banner

Subscribe by E-mail

For Latest News and Updates from myCBSEguide.com
Enter your email address:

Connect via Facebook

Sponsored Links