CBSE class 11 Accountancy New Syllabus 2018-19

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CBSE class 11 Accountancy New Syllabus 2018-19 in PDF format for free download. Accountancy New syllabus for 2018 2019 class 11 CBSE is now available in myCBSEguide app. The curriculum for March 2019 exams is designed by CBSE, New Delhi as per NCERT text books for the session 2018-19.

Download CBSE class 11 Accountancy New Syllabus 2018-19

CBSE class 11 Accountancy New Syllabus 2018-19

Rationale

The course in accountancy is introduced at plus two stage of senior second of school education, as the formal commerce education is provided after ten years of schooling. With the fast changing economic scenario, accounting as a source of financial information has carved out a place for itself at the senior secondary stage. Its syllabus content provide students a firm foundation in basic accounting concepts and methodology and also acquaint them with the changes taking place in the preparation and presentation of financial statements in accordance to the applicable accounting standards and the Companies Act 2013.

The course in accounting put emphasis on developing basic understanding about accounting as an information system. The emphasis in class Xi is placed on basic concepts and process of accounting leading to the preparation of accounts for a sole proprietorship firm. The students are also familiarized with basic calculations of Goods and Services Tax (GST) in recording the business transactions.

The increased role of ICT in all walks of life cannot be overemphasized and is becoming an integral part of business operations. The learners of accounting are introduced to Computerized Accounting System at class XI and XII. Computerized Accounting System is a compulsory component which is to be studied by all students of commerce in class XI; whereas in class XII it is offered as an optional subject to Company Accounts and Analysis of Financial Statements. This course is developed to impart skills for designing need based accounting database for maintaining book of accounts.

The complete course of Accountancy at the senior secondary stage introduces the learners to the world of business and emphasize on strengthening the fundamentals of the subject.

Objectives:

  1. To familiarize students with new and emerging areas in the preparation and presentation of financial statements.
  2. To acquaint students with basic accounting concepts and accounting standards.
  3. To develop the skills of designing need based accounting database.
  4. To appreciate the role of ICT in business operations.
  5. To develop an understanding about recording of business transactions and preparation of financial statements.
  6. To enable students with accounting for Not-for-Profit organizations, accounting for Partnership Firms and company accounts.

CBSE class 11 Accountancy New Syllabus 2018-19
Couse Structure
Class-XI (2018-19)

One Paper Theory: 90 Marks
3 Hours

UnitsPeriodsMarks
Part A: Financial Accounting-I
Unit-1: Theoretical Framework2515
Unit-2: Accounting Process10540
13055
Part B: Financial Accounting-II
Unit-3: Financial Statements of Sole Proprietorship from Complete and
Incomplete Records
6025
Unit-4: Computers in Accounting2010
8035
Part C: Project Work3010

CBSE class 11 Accountancy New Syllabus 2018-19

PART A: FINANCIAL ACCOUNTING – I 55 Marks

Unit-1: Theoretical Frame Work 25 Periods

Units/TopicsLearning Outcomes
Introduction to Accounting 11 Periods

  • 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 14 Periods

  • 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: Need, benefits, limitations, applicability; IFRS- Need
  • Goods and Services Tax (GST): Characteristics and
    Objective.
After going through this Unit, the students will be able
to:

  • describe the meaning, significance, objectives, advantages and limitations of accounting in the modem economic environment with varied types of business and non business economic entities.
  • identify / recognise the individual(s) and entities that use accounting information for serving their needs of decision making.
  • explain the various terms used in accounting and differentiate between different related terms like current and non current, capital and revenue.
  • give examples of terms like business transaction, liabilities, assets, expenditure and purchases.
  • explain that sales/purchases include both cash and credit sales/purchases relating to the accounting year.
  • differentiate among income, profits and gains.
  • state the meaning of fundamental accounting assumptions and their relevance in accounting.
  • describe the meaning of accounting and the situation in which an assumption is applied during the accounting process
  • explain the meaning and objectives of accounting standards.
  • acknowledge the fact that recording of accounting transactions follows double entry system.
  • explain the bases of recording accounting transaction and to appreciate that accrual basis is a better basis for depicting the correct financial position of an enterprise.
  • Understand the need of IFRS
  • Explain the meaning, objective and characteristic of GST.

Unit-2: Accounting Process 105 Periods

Units/Topics Learning Outcomes
Recording of Business Transactions 30 Periods

  • 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 simple GST calculations

  • Ledger: Format, Posting from journal and subsidiary books, Balancing of accounts
    15 Periods

Bank Reconciliation Statement:

  • Need and preparation, Bank Reconciliation Statement with Adjusted Cash Book

Depreciation, Provisions and Reserves. 20 Periods

  • Depreciation: Concept, Features, Causes, Factors
  • Other similar terms: Depletion and Amortisation
  • Methods of Depreciation:
    1. Straight Line Method (SLM)
    2. Written Down Value Method (WDV)

Note: Excluding change of method

  • Difference between SLM and WDV; Advantages of SLM and WDV
  • Accounting treatment of depreciation
    1. Charging to asset account
    2. Creating provision for depreciation/accumulated depreciation account
    3. Treatment for disposal of asset
  • Provisions and Reserves: Difference
  • Types of Reserves:
    1. Revenue reserve
    2. Capital reserve
    3. General reserve
    4. Specific reserve
    5. Secret Reserve
  • Difference between capital and revenue reserve

Accounting for Bills of Exchange. 20 Periods

  • Bill of exchange and Promissory Note: Definition, Specimen, Features, Parties.
  • Difference between Bill of Exchange and Promissory Note
  • Terms in Bill of Exchange:
    1. Term of Bill
    2. Accommodation bill (concept)
    3. Days of Grace
    4. Date of maturity
    5. Discounting of bill
    6. Endorsement of bill
    7. Bill after due date
    8. Negotiation
    9. Bill sent for collection
    10. Dishonour of bill
    11. Retirement of bill
    12. Renewal of bill
  • Accounting Treatment

Note: excluding accounting treatment for accommodation bill

Trial balance and Rectification of Errors 20 Periods

  • 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.
After going through this Unit, the students will be able
to:

  • explain the concept of accounting equation and appreciate that every transaction affects either both the sides of the equation or a positive effect on one item and a negative effect on another item on the same side of accounting equation.
  • explain the effect of a transaction (increase or decrease) on the assets, liabilities, capital, revenue and expenses.
  • appreciate that on the basis of source documents, accounting vouchers are prepared for recording transaction in the books of accounts.
  • develop the understanding of recording of transactions in journal and the skill of calculating GST.
  • explain the purpose of maintaining a Cash Book and develop the skill of preparing the format of different types of cash books and the method of recording cash transactions in
    Cash book.
  • describe the method of recording transactions other than cash transactions as per their nature in different subsidiary books.
  • appreciate that at times bank balance as indicated by cash book is different from the bank balance as shown by the pass book / bank statement and to reconcile both the balances, bank reconciliation statement is prepared.
  • develop understanding of preparing bank reconciliation statement.
  • appreciate that for ascertaining the position of individual accounts, transactions are posted from subsidiary books and journal proper into the concerned accounts in the ledger and develop the skill of ledger posting.
  • explain the necessity of providing depreciation and develop the skill of using different methods for computing depreciation.
  • understand the accounting treatment of providing depreciation directly to the concerned asset account or by creating provision for depreciation account.
  • appreciate the method of asset disposal through the concerned asset account or by preparing asset disposal account.
  • appreciate the need for creating reserves and also making provisions for events which may belong to the current year but may happen in next year.
  • appreciate the difference between reserve and reserve fund.
  • acquire the knowledge of using bills of exchange and promissory notes for financing business transactions;
  • understand the meaning and distinctive features of these instruments and develop the skills of their preparation.
  • state the meaning of different terms used in bills of exchange and their implication in accounting.
  • explain the method of recording of bill transactions.
  • state the need and objectives of preparing trial balance and develop the skill of preparing trial balance.
  • appreciate that errors may be committed during the process of accounting.
  • understand the meaning of different types of errors and their effect on trial balance.
  • develop the skill of identification and location of errors and their rectification and preparation of suspense account.

Part B: Financial Accounting – II 35 Marks
Unit 3: Financial Statements of Sole Proprietorship: From Complete and Incomplete Records 60 Periods

Units/TopicsLearning Outcomes
Financial Statements

Receipts and Expenditure: Revenue receipts and capital receipts. Capital expenditure, Revenue expenditure and deferred expenditure
Objective and Importance.
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.

Incomplete Records

Features, Reasons and Limitations.
Ascertainment of profit/loss by statement of affairs method.
Difference between Accounts from incomplete records and Statement of Affairs. Preparation of Trading, Profit
and Loss account and Balance Sheet.

After going through this Unit, the students will be able
to:

  • state the meaning of financial statements the
  • purpose of preparing financial statements.
  • state the meaning of gross profit, operating profit and net profit and develop the skill of preparing trading and profit and loss account.
  • explain the need for preparing balance sheet.
  • understand the technique of grouping and marshalling of assets and liabilities.
  • appreciate that there may be certain items other than those shown in trial balance which may need adjustments while preparing financial statements.
  • develop the understanding and skill to do adjustments for items and their presentation in financial statements like depreciation, closing stock, provisions, abnormal loss etc.
  • develop the skill of preparation of trading and profit and loss account and balance sheet.
  • state the meaning of incomplete records and their uses and limitations.
  • develop the understanding and skill of computation of profit / loss using the statement of affairs method.

Unit 4: Computers in Accounting 20 Periods

Units/TopicsLearning Outcomes
  • 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 Management Information System.
  • Automation of accounting process: meaning
  • Stages in automation: (a) Accounting process in a computerised environment; comparison between manual accounting process and computerised accounting process, (b) Sourcing of accounting software; kinds of software: readymade software; customised software and tailor-made software; generic considerations before sourcing accounting software (c) creation of account groups and hierarchy (d) generation of reports – trial balance, profit and loss account and balance sheet.

Scope:

  1. The scope of the unit is to understand accounting as an information system for the generation of accounting information and preparation of accounting reports.
  2. 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.
After going through this Unit, the students will be able to:

  • state the meaning of a computer, describe its components, capabilities and limitations.
  • state the meaning of accounting information system.
  • appreciate the need for use of computers in accounting for preparing accounting reports.
  • develop the understanding of comparing the manual and computerized accounting process and appreciate the advantages and limitations of automation.
  • understand the different kinds of accounting software.

Part C: Project Work (Any One) 10 Marks 30 Periods

  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 twentyfive 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.

COMPREHENSIVE PROJECT

It is suggested to undertake this project after completing the unit on preparation of financial statements. The student(s) will be allowed to select any business of their choice or develop the transaction of imaginary business.

The project is to run through the chapters and make the project an interesting process. The amounts should emerge as more realistic and closer to reality.

  1. Specific Guidelines for Teachers

Give a list of options to the students to select a business form. You can add to the given list:

1. A beauty parlour10. Men’s wear19. A coffeeshop
2. Men’s saloon11. Ladies wear20. A music shop
3. A tailoring shop 12. Kiddies wear21. A juice shop
4. A canteen13. A Saree shop22. A school canteen
5. A cake shop14. Artificial jewellery shop23. An ice cream parlour
6. A confectionery shop15. A small restaurant24. A sandwich shop
7. A chocolate shop16. A sweet shop25. A flower shop
8. A dry cleaner17. A grocery shop
9. A stationery shop18. A shoe shop

After selection, advise the student(s) to visit a shop in the locality (this will help them to settle on a realistic amounts different items. The student(s) would be able to see the things as they need to invest in furniture, decor, lights, machines, computers etc.

A suggested list of different item is given below.

1. Rent19. Wages and Salary
2. Advance rent [approximately three months]20. Newspaper and magazines
3. Electricity deposit21. Petty expenses
4. Electricity bill22. Tea expenses
5. Electricity fitting23. Packaging expenses
6. Water bill24. Transport
7. Water connection security deposit25. Delivery cycle or a vehicle purchased
8. Water fittings26. Registration
9. Telephone bill27. Insurance
10. Telephone security deposit28. Auditors fee
11. Telephone instrument29. Repairs &Maintenance
12. Furniture30. Depreciation
13. Computers31. Air conditioners
14. Internet connection32. Fans and lights
15. Stationery33. Interior decorations
16. Advertisements34. Refrigerators
17. Glow sign35. Purchase and sales
18. Rates and Taxes

At this stage performas of bulk of originality and ledger may be provided to the students and they may be asked to complete the same.
In the next step the students are expected to prepare the trial balance and the financial statements.

 

Download CBSE Syllabus of Class 11th


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