CBSE Class 11 Accountancy Syllabus 2024-25

CBSE Class 11 Accountancy Syllabus 2024-25

The CBSE Class 11 Accountancy syllabus for 2024-25 provides a comprehensive foundation for students to understand the principles of accounting and financial management. It covers essential concepts, processes, and tools that help students develop a solid understanding of how financial statements are prepared and analyzed. The syllabus is designed to align with the current educational standards and prepare students for both theoretical and practical applications in the field of accountancy. Students must follow the updated CBSE syllabus to ensure they are aligned with the official curriculum. With the most recent syllabus, students can focus on important topics, manage their study time effectively, and prepare for their exams with confidence using myCBSEGuide App.

Key Topics in the Class 11 Accountancy Syllabus 2024-25:

1. Theoretical Framework of Accounting:
   • This section introduces students to the fundamental concepts, principles, and conventions of accounting. It includes topics like:
     • Accounting Concepts: Basic assumptions and principles of accounting such as business entity, going concern, and dual aspect.
     • Accounting Standards: Understanding the importance of standardized accounting practices.
2. Accounting Process:
   • Students will learn the steps involved in the accounting process, which include:
     • Journalizing: Recording transactions in the journal.
     • Ledger Posting: Transferring journal entries to the ledger accounts.
     • Trial Balance: Preparing a trial balance to verify the accuracy of accounts.
     • Bank Reconciliation Statement: Adjusting the bank statement and company records.
     • Rectification of Errors: Identifying and correcting errors in accounting records.
3. Financial Statements of Sole Proprietorship:
   • This section focuses on the preparation and analysis of financial statements for a sole proprietorship. Topics include:
     • Trading Account: Preparing a trading account to calculate gross profit or loss.
     • Profit and Loss Account: Preparing the profit and loss account to determine the net profit or loss.
     • Balance Sheet: Creating a balance sheet to present the financial position of the business.

Why the Updated Syllabus Matters:

Following the CBSE Class 11 Accountancy syllabus for 2024-25 ensures that students are well-prepared to handle both theoretical and practical aspects of accounting. It covers all the necessary topics required for the exam and helps students grasp fundamental accounting concepts that will be useful in future studies and professional careers. Download the syllabus from our website myCBSEguide now to start preparing and ensure success in your exams.

With the most up-to-date syllabus, students can streamline their preparation by focusing on key areas, using appropriate study materials, and mastering essential accounting skills.

Preparation Tips for Class 11 Accountancy:

1. Understand Key Concepts: Ensure that you have a clear understanding of the basic accounting concepts like the accounting equation, accounting principles, and methods for recording transactions.
2. Practice Regularly: Practice the preparation of journal entries, ledgers, trial balances, and financial statements. The more you practice, the more confident you will become in solving accounting problems.
3. Master Financial Statements: Pay special attention to preparing the trading account, profit and loss account, and balance sheet for a sole proprietorship. These are essential areas in the syllabus and are crucial for exam success.
4. Focus on Problem-Solving: Since accountancy involves practical application, it’s important to practice solving problems regularly. Work through sample papers and previous year’s question papers to familiarize yourself with the exam pattern.
5. Revision is Key: Regular revision is crucial to retain the concepts and formulas. Set aside time to revise topics periodically to ensure you are fully prepared before exams.

Class 11 Accountancy Mobile App

CBSE Class – 11
Accountancy (Code No. 055)
Syllabus (2024-25)

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Theory: 80 Marks
Project: 20 Marks
Time: 3 Hours

Units		Periods	Marks
Part A: Financial Accounting-1
	Unit-1: Theoretical Framework	25	12
	Unit-2: Accounting Process	115	44
Part B: Financial Accounting-II
	Unit-3: Financial Statements of Sole Proprietorship	60	24
Part C: Project Work		20	20

PART A: FINANCIAL ACCOUNTING – I
Unit-1: Theoretical Frame Work (Units/Topics)
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 of Accounting Standards (AS) and Indian Accounting Standards (IndAS)
• Goods and Services Tax (GST): Characteristics and Advantages.

Unit-2: Accounting Process (Units/Topics)
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:
  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
• Method of recoding depreciation
  1. Charging to asset account
  2. Creating provision for depreciation/accumulated depreciation account
• Treatment of disposal of asset
• Provisions, Reserves, Difference Between Provisions and Reserves.
• Types of Reserves:
  1. Revenue reserve
  2. Capital reserve
  3. General reserve
  4. Specific reserve
  5. 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;
  1. Errors which do not affect trial balance
  2. Errors which affect trial balance
• preparation of suspense account.

Part B: Financial Accounting – II
Unit 3: Financial Statements of Sole Proprietorship (Units/Topics)
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.

Incomplete Records
Features, reasons and limitations.
Ascertainment of Profit/Loss by Statement of Affairs method. (excluding conversion method)

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. This may include simple GST related transactions.

Suggested Question Paper Design

Theory: 80 Marks
Project: 20 Marks
Time: 3 Hours

S. No.	Typology of Questions	Marks	Percentage
1	Remembering and Understanding: Exhibit memory of previously learned material by recalling facts, terms, basic concepts, and answers. Demonstrate understanding of facts and ideas by organizing, comparing, translating, interpreting, giving descriptions, and stating main ideas	44	55%
2	Applying: Solve problems to new situations by applying acquired knowledge, facts, techniques and rules in a different way.	19	23.75%
3	Analysing, Evaluating and Creating: Examine and break information into parts by identifying motives or causes. Make inferences and find evidence to support generalizations. Present and defend opinions by making judgments about information, validity of ideas, or quality of work based on a set of criteria. Compile information together in a different way by combining elements in a new pattern or proposing alternative solutions.	17	21.25%
	Total	80	100%

Practical Work
Prescribed Books:

Financial Accounting-I	Class XI	NCERT Publication
Accountancy-II	Class XI	NCERT Publication

CBSE Syllabus 2024-25

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How to Download the CBSE Class 11 Accountancy Syllabus 2024-25

To download the CBSE Class 11 Accountancy Syllabus from myCBSEguide, follow these steps:

1. Visit myCBSEguide website.
2. Use the search bar to find “Class 11 Accountancy Syllabus.”
3. Click on the relevant syllabus link for the 2024-25 session.
4. Download the syllabus in PDF format by clicking the download button.

Alternatively, install the myCBSEguide App from Google Play or the App Store, log in, and download the syllabus directly from the app.

Frequently Asked Question:

When will the CBSE 2025 syllabus be released?

The CBSE 2025 syllabus has already been released by the board. Students can now access the updated syllabus for all subjects, including the CBSE Class 11 Accountancy Syllabus 2024-25. This syllabus is available in PDF format, offering a convenient way for students to download and review the topics they need to focus on in preparation for their exams.

For those aiming to excel in their studies, it’s essential to stay informed and use reliable study resources. The myCBSEguide website provides the latest syllabus for all CBSE subjects, helping students stay aligned with the curriculum. The myCBSEguide App platform also offers a range of educational materials such as sample papers, chapter-wise test papers, NCERT solutions, and revision notes, all designed to streamline exam preparation.

Additionally, educators can take advantage of the Examin8 App and Examin8 Website to create customized mock tests and practice papers tailored to their students’ needs.