Class 11 Accountancy Syllabus PDF Download (CBSE & ICSE) 2020-21

The syllabus of class 11 accountancy deals with topics like financial accounting, financial statements of a sole proprietorship, computers in accounting, etc. This post takes you through detailed information about Class 11 Accountancy Syllabus of both CBSE and ICSE boards.

Revised CBSE Class 11 Accountancy Syllabus 2021

Due to the non-functioning of schools, the accountancy syllabus has been reduced to 30% by the CBSE board. Note that the reduced syllabus is only for the academic year 2021.

Being aware of the syllabus will help you know the Class 11 Accountancy Important Questions from the exam point of view.

Go through the revised syllabus of accountancy class 11 from the post below.

Part A: Financial Accounting – I

Go through the syllabus and enhance your preparation for the Class 11 Accountancy Exam.

Unit-1: Theoretical Frame Work

This unit will help you 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.

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)

Revised CBSE Class 11 Accountancy Syllabus PDF

Theory Base of Accounting

• Fundamental accounting assumptions: GAAP: Concept
• Business Entity, Money Measurement, Going Concerned, 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.

Unit-2: Accounting Process

In this unit, you will be studying about the concept of the accounting equation.

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

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 Amortisation
• 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
iii. Treatment for disposal of asset

• 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

Accounting for Bills of Exchange

• Bill of exchange and Promissory, Note: Definition, Specimen, Features, Parties.
• Difference between Bill of Exchange and Promissory Note
• Terms in Bill of Exchange:

i. Term of Bill
ii. Accommodation bill (concept)
iii. Days of Grace
iv. Date of maturity
v. Discounting of bill
vi. Endorsement of bill
vii. Bill after due date
viii. Negotiation
ix. Bill sent for collection
x. Dishonour of bill

• Accounting Treatment

Trial balance and Rectification of Errors

• Trial balance: objectives and preparation
• Errors: types-errors of omission, commission, principles, and compensating; their effect on Trial Balance.
• Detection and rectification of errors; preparation of suspense account.

Part B: Financial Accounting – II

Solving Class 11 Accountancy Sample Papers will help you know the difficulty level of the paper and the type of questions asked from the financial accounting topic. You can go through the detailed accountancy syllabus class 11 for Part B from the post below.

Unit 3: Financial Statements of Sole Proprietorship

This unit describes the meaning of financial statements, gross profit, operating profit, and net profit.

Financial Statements

Meaning, objectives and importance; Revenue and Capital Receipts; Revenue and Capital Expenditure; Deferred Revenue expenditure. 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. Download the complete Accounts Class 11 Syllabus PDF below and begin your preparation. 

Unit 4: Computers in Accounting

• Introduction to computer and accounting information system {AIS}: Introduction to computers (elements, capabilities, limitations of computer system)
• Automation of accounting process: meaning 

CBSE Class 11 Accountancy Marking Scheme 2021

The accountancy section is divided into three parts wherein: Part A is for 40 Marks, Part B is for 40 Marks, and Part C is the Project for 20 marks.

Deleted CBSE Class 11 Accountancy Syllabus 2021

The following topics are deleted from Class 11 Accountancy syllabus of Part A and part B.

• Bank Reconciliation Statement
• Bank Reconciliation Statement with Adjusted Cash Book
• Accounting for Bills of Exchange
• Retirement of bill
• Renewal of bill
• Incomplete Records
• Difference between accounts from incomplete records and Statement of Affairs.
• Preparation of Trading, Profit, and Loss account and Balance Sheet. 

Deleted CBSE Class 11 Accountancy Syllabus PDF

ISC Class 11 Accountancy Syllabus 2021

Class 11 Accounts Syllabus for ICSE board is divided into 2 parts i.e., Part I (20 marks) is compulsory and consists of short answer questions, testing knowledge, application, and skills relating to elementary/ fundamental aspects of the entire syllabus.

In Part II (60 marks), you are required to answer five questions out of eight questions. 

1. Basic Accounting Concepts

Background of accounting and accountancy: knowledge and understanding of IFRS (International Financial Reporting Standards); GAAP (Generally Accepted Accounting Principles), types of accounts; basic terms used in accounting, Accounting Standards, and Accounting Equation.

2. Journal, Ledger, and Trial Balance

• Journal: recording of entries in a journal with narration.
• Ledger: posting from journal to respective ledgers.
• Sub-division of the journal - cash book [including simple cash book and double column cash book (cash and bank). Petty cash book (including simple, analytical and imprest system), sales daybook, purchases day book, sales return daybook, purchases return daybook, bills receivable book, bills payable book, and Journal proper.
• Trial balance

3. Bank Reconciliation Statement

• Bank reconciliation statement.
• Meaning and need for bank reconciliation statement.
• Preparation of a bank reconciliation statement from the given cash book balance or passbook balance or both.
• Preparation of a bank reconciliation statement from the extract of the cash book as well as the passbook relating to the same month.
• Preparation of an amended cash book and a bank reconciliation statement from the given cash book balance.
• Preparation of an amended cash book and a bank reconciliation statement from the extract of the cash book as well as the passbook relating to the same month.

4. Depreciation, Provisions, and Reserves

• Depreciation.
• Methods of charging depreciation (Straight Line and Written Down Value method).
• Problems relating to purchase and sale of assets incorporating the application of depreciation under the two stated methods.
• Solving ISC Class 11 Commerce Sample Paper can help you in understanding the difficulty level of the exam. 

5. Bills of Exchange

• Introduction to Negotiable Instruments: an explanation of basic terms.
• Practical problems on the above in the books of the drawer, drawee, endorsed, and bank.

6. Final Accounts and Concept of Trading, Profit and Loss account and Balance Sheet (with and without adjustments), Marshalling of Balance Sheet

• Capital and revenue expenditure/income.
• Provisions and Reserves.
• Trading, Profit, and Loss Account and Balance Sheet of a sole trader, (Horizontal Format) without adjustments.
• Preparation of Trading Account, Profit, and Loss Account and Balance Sheet with necessary adjustments.
• Marshalling of a Balance Sheet: Order of permanence and order of liquidity.

7. Accounts from incomplete records

• Single entry and difference with double entry.
• Ascertainment of profit/loss by a statement of affairs method including application.
• Conversion of Single entry into the double-entry.

8. Non-Trading Organisation

• Non-trading organization: meaning, objectives, necessity, and treatment of specific items.
• Different books maintained and differences between them.
• Preparation of Income and Expenditure Account and Closing Balance Sheet.

9. Rectification of Errors

• Errors and types of errors:
• errors of omission;
• errors of commission;
• errors of principle;
• compensating errors.

10. Introduction to the Use of Computers in Accounting

• Introduction to Computerized Accounting System: 
• Application of computers in Accounting (Only theory)
• Comparison of accounting processes in manual and computerized accounting

Revised ICSE Class 11 Accountancy Syllabus PDF

ISC Class 11 Marking Scheme

In the ICSE board, the theory paper of the accountancy holds 80 marks and the project work holds 20 marks. Check out the table below to know the marking scheme of accountancy.

Class 11 Accountancy Syllabus 2022

As we all know, the CBSE and ICSE boards have reduced 30% of the syllabus for the academic year 2021. For next year, the exam conducting body may replace the old syllabus or may keep the existing one.

You can download the old syllabus of class 11 accountancy by clicking on the links provided in the table below.