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

Accountancy is one of the mandatory subjects in CBSE and ICSE boards. During preparation, knowing the syllabus is important. Go through the complete post to know the revised and deleted portions of Class 11 Accountancy Syllabus 2020. The syllabus of class 11 accountancy covers topics like financial accounting, financial statements of a sole proprietorship, computers in accounting, etc.

Class 11 Accountancy Syllabus 2020-21 PDF Download

This year, CBSE and ICSE board have reduced the syllabus of class 11 Accountancy. Hence, for the candidate's reference, we have explained the revised syllabus and deleted topics of Accountancy class 11.

After knowing the syllabus, candidates are advised to go through the Class 11 Accountancy Important Questions and enhance their preparation for the exam. In this post, we have provided a detailed syllabus of accountancy class 11 CBSE and ICSE. Candidates can view or download the syllabus PDF and start preparing for the exam.

CBSE Class 11 Accountancy Marking Scheme 2020-21

Go through the brief marking scheme of Class 11 Accountancy Syllabus for CBSE explained in the below table. The exam 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. Solving Class 11 Accountancy Sample Papers will help candidates to know the difficulty level of the paper and the type of questions asked in the exam.

CBSE Class 11 Accountancy Syllabus 2020-21

Here is the brief revised Accountancy Syllabus for CBSE Class 11. Candidates can also download the free CBSE Class 11 Accounts Syllabus 2020-21 PDF below. Apart from Accountancy, candidates can go through detailed CBSE Class 11 Commerce Syllabus 2020 here. After the syllabus section, candidates can find the deleted portions from the syllabus. 

Part A: Financial Accounting – I

Here is the detailed Class 11 Accountancy Syllabus 2020-21 PDF here. Go through the syllabus and enhance your preparation for the Class 11 Accountancy Exam.

Unit-1: Theoretical Frame Work

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)

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

The Class 11 Commerce Syllabus for Accountancy subject Unit 2 is as explained below:

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

Candidates can go through the detailed class 11 accountancy syllabus of Part B from the post below.

Unit 3: Financial Statements of Sole Proprietorship

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 

Download Revised CBSE Class 11 Accountancy Syllabus 2020-21 PDF

ISC Class 11 Accountancy Syllabus 2020-21

Go through the detailed syllabus for the Accountancy subject of ISC Class 11 below. Know the important topics in each concept and prepare accordingly. The ICSE Class 11 Accounts Syllabus 2020-21 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 Class 11 Accountancy Syllabus. In Part II (60 marks), you are required to answer five questions out of eight from this section. Each question carries 12 marks. Here is the complete  ISC Class 11 Commerce Syllabus for Accountancy subject. 

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 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 Computerised Accounting System: Components of CAS, Features, Grouping of Accounts. Advantages and Limitations of CAS, Accounting Information System.
• Application of computers in Accounting (Only theory) - Automation of accounting process, designing accounting reports (MIS reports) - Chart of accounts - Assets/ liabilities/ income/ expenses/ capital, customer and supplier masters, type of transaction: cash, bank, sale, purchase, journal vouchers; general ledger/trial balance, balance sheet, profit and loss, data exchange with other information systems.
• Comparison of accounting processes in manual and computerized accounting. Thus, ensure to be thorough with all the important topics in the ICSE 11th class accountancy syllabus. 

Download Revised ICSE Class 11 Accountancy Syllabus 2020-21 PDF

CBSE Class 11 Accountancy Books

As per the experts, referring to the right books will help candidates to prepare all the topics as per the latest syllabus and boost their preparation level. The table below shows the best 11th Commerce Books for class 11 Accountancy CBSE. 

ISC Class 11 Accountancy Books

Let us have a look at the table below to know the best books for the preparation of ISC class 11 accountancy syllabus.

Deleted CBSE Class 11 Accountancy Syllabus 2020-21

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

PART A: Financial Accounting – I 

Unit-2: Accounting Process

Topics Deleted

• Bank Reconciliation Statement:
• Bank Reconciliation Statement with Adjusted Cash Book
• Accounting for Bills of Exchange
• Retirement of bill
• Renewal of bill

Part B: Financial Accounting – II 

Unit 3: Financial Statements of Sole Proprietorship

Topics Deleted

• Incomplete Records
• Difference between accounts from incomplete records and Statement of Affairs.
• Preparation of Trading, Profit, and Loss account and Balance Sheet. 

Unit 4: Computers in Accounting

Topics Deleted

• Introduction to operating software, utility software, and application software. Introduction to accounting information system (AIS) as a part of the Management Information System.
• Stages in automation: (a) Accounting process in a computerized environment; comparison between manual accounting process and computerized accounting process, (b) Sourcing of accounting software; kinds of software: readymade software; customized 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

Download CBSE Class 11 Deleted Syllabus PDF

What is Accountancy? 

Accountancy is a subject that deals with the practice of recording, classifying, and reporting on business transactions for a business. It helps in managing the financial results and status of an organization. Every company or organization has an accounts department. There are many aspirants interested in taking up Accounts as their graduation course and grow in the same career. There are numerous opportunities for Accounts subject. Choosing Accountancy as a career has many advantages as listed below:

• Aspirants can work in any sector and anywhere in the world
• This field is highly flexible - There are diverse fields in which Accountancy plays an important role.
• Hugely Rewarding - It is a highly respected profession with satisfying salaries.