Class 11th Accounts Syllabus 2023-24

Here we provide the latest CBSE Class 11 Accounts Syllabus 2023 24. You can also Download the new and revised CBSE Accountancy syllabus class 11 PDF. The present revised syllabus of class 11 Accountancy has been designed in accordance with National Curriculum Framework 2005. 

Accountancy is a scoring subject but needs a lot of practice and conceptual understanding of the topics. CBSE Accountancy syllabus class 11 helps you in understanding the important topics. We advise you to read the CBSE class 11 Accountancy syllabus 2022 23 carefully. Class 11th Accountancy syllabus also helps you in the preparation for competitive exams like IIT, AIEEE etc.

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CBSE Class 11 Accounts Syllabus 2023-24 Pdf

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Class 11 Accounts Syllabus
Class 11 Accounts Syllabus
Class 11 Accounts Syllabus
Class 11 Accounts Syllabus

Accounts Syllabus for Class 11 CBSE 2023 24

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

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 Amortization  
  • Methods of Depreciation: 
    • Straight Line Method (SLM),
    • Written Down Value Method (WDV) 
  • Difference between SLM and WDV; Advantages of SLM and WDV  
  • Method of recording depreciation: 
    • Charging to an asset account,
    • Creating provision for depreciation/accumulated depreciation account  
  • Treatment of disposal of the asset  
  • Provisions, Reserves, Difference Between Provisions and Reserves.  
  • Types of Reserves: 
    • Revenue reserve,
    • Capital reserve,
    • General reserve,
    • Specific reserve,
    • Secret Reserve  
  • Difference between capital and revenue reserve

Trial Balance and Rectification of Errors

  • Trial balance: objectives, meaning and preparation 
  • Errors: classification errors of omission, commission, principles, and compensating; their effect on Trial Balance.  
  • Detection and rectification of errors; 
    • Errors which do not affect trial balance and
    • Errors which affect the 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) 

Following are three suggestions for Project work for Class 11 Accountancy-

  1. Collection of source documents, preparation of vouchers, and 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 lingering, and 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 a pie chart/bar diagram.

Class 11 Accountancy Syllabus 2023- 24 – Course Structure

Before you read the Account syllabus class 11 you have to understand the course structure to complete the Accountancy class 11 syllabus.

UnitsMarks
Part A: Financial Accounting-I
Unit-1Theoretical Framework12
Unit-2Accounting Process44
Part B: Financial Accounting-II
Unit-3Financial Statements of Sole Proprietorship24
Part C: Project Work20
Total 100

Class 11 Accounts Syllabus- Question Paper Design

Students are curious to know how will be the question paper designed for accountancy. It will also help you to cover your Class 11 Accounts Syllabus 2023-24.

Class 11 Accounts Syllabus

Class 11th Accounts Syllabus 2023 24 – Objective

  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 skills in designing need-based accounting databases.
  4. To appreciate the role of ICT in business operations.
  5. To develop an understanding of recording business transactions and preparation of financial statements.
  6. To enable students to account for Not-for-Profit organizations, accounting Partnership Firms and company accounts.

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