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Syllabus: Accountancy for Class 11
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Page 1
Accountancy (Subject Code 055)
Class-XI (2025-26)
Theory: 80 Marks 3 Hours
Project: 20 Marks
Units Marks
Part A: Financial Accounting-1
Unit-1: Theoretical Framework 12
Unit-2: Accounting Process 44
Part B: Financial Accounting-II
Unit-3: Financial Statements of Sole Proprietorship 24
Part C: Project Work 20
PART A: FINANCIAL ACCOUNTING - I
Unit-1: Theoretical Frame Work
Units/Topics Learning Outcomes
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,
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.
Page 2
Accountancy (Subject Code 055)
Class-XI (2025-26)
Theory: 80 Marks 3 Hours
Project: 20 Marks
Units Marks
Part A: Financial Accounting-1
Unit-1: Theoretical Framework 12
Unit-2: Accounting Process 44
Part B: Financial Accounting-II
Unit-3: Financial Statements of Sole Proprietorship 24
Part C: Project Work 20
PART A: FINANCIAL ACCOUNTING - I
Unit-1: Theoretical Frame Work
Units/Topics Learning Outcomes
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,
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.
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.
• state the meaning of fundamental accounting
assumptions and their relevance in
accounting.
• describe the meaning of accounting
assumptions and the situation in which an
assumption is applied during the accounting
process.
• explain the meaning, applicability, objectives,
advantages and limitations of accounting
standards.
• appreciate that various accounting standards
developed nationally and globally are in
practice for bringing parity in the accounting
treatment of different items.
• 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.
• Explain the meaning, advantages and
characteristic of GST.
Unit-2: Accounting Process
Units/Topics Learning Outcomes
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
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
Page 3
Accountancy (Subject Code 055)
Class-XI (2025-26)
Theory: 80 Marks 3 Hours
Project: 20 Marks
Units Marks
Part A: Financial Accounting-1
Unit-1: Theoretical Framework 12
Unit-2: Accounting Process 44
Part B: Financial Accounting-II
Unit-3: Financial Statements of Sole Proprietorship 24
Part C: Project Work 20
PART A: FINANCIAL ACCOUNTING - I
Unit-1: Theoretical Frame Work
Units/Topics Learning Outcomes
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,
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.
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.
• state the meaning of fundamental accounting
assumptions and their relevance in
accounting.
• describe the meaning of accounting
assumptions and the situation in which an
assumption is applied during the accounting
process.
• explain the meaning, applicability, objectives,
advantages and limitations of accounting
standards.
• appreciate that various accounting standards
developed nationally and globally are in
practice for bringing parity in the accounting
treatment of different items.
• 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.
• Explain the meaning, advantages and
characteristic of GST.
Unit-2: Accounting Process
Units/Topics Learning Outcomes
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
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
• 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:
i. Straight Line Method (SLM)
ii. Written Down Value Method (WDV)
Note: Excluding change of method
• Difference between SLM and WDV;
Advantages of SLM and WDV
• Method of recoding depreciation
i. Charging to asset account
ii. Creating provision for
depreciation/accumulated depreciation
account
• Treatment of disposal of asset
• Provisions, Reserves, Difference Between
Provisions and Reserves.
• Types of Reserves:
i. Revenue reserve
ii. Capital reserve
iii. General reserve
iv. Specific reserve
v. Secret Reserve
• Difference between capital and revenue
reserve
Trial balance and Rectification of Errors
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
Page 4
Accountancy (Subject Code 055)
Class-XI (2025-26)
Theory: 80 Marks 3 Hours
Project: 20 Marks
Units Marks
Part A: Financial Accounting-1
Unit-1: Theoretical Framework 12
Unit-2: Accounting Process 44
Part B: Financial Accounting-II
Unit-3: Financial Statements of Sole Proprietorship 24
Part C: Project Work 20
PART A: FINANCIAL ACCOUNTING - I
Unit-1: Theoretical Frame Work
Units/Topics Learning Outcomes
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,
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.
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.
• state the meaning of fundamental accounting
assumptions and their relevance in
accounting.
• describe the meaning of accounting
assumptions and the situation in which an
assumption is applied during the accounting
process.
• explain the meaning, applicability, objectives,
advantages and limitations of accounting
standards.
• appreciate that various accounting standards
developed nationally and globally are in
practice for bringing parity in the accounting
treatment of different items.
• 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.
• Explain the meaning, advantages and
characteristic of GST.
Unit-2: Accounting Process
Units/Topics Learning Outcomes
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
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
• 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:
i. Straight Line Method (SLM)
ii. Written Down Value Method (WDV)
Note: Excluding change of method
• Difference between SLM and WDV;
Advantages of SLM and WDV
• Method of recoding depreciation
i. Charging to asset account
ii. Creating provision for
depreciation/accumulated depreciation
account
• Treatment of disposal of asset
• Provisions, Reserves, Difference Between
Provisions and Reserves.
• Types of Reserves:
i. Revenue reserve
ii. Capital reserve
iii. General reserve
iv. Specific reserve
v. Secret Reserve
• Difference between capital and revenue
reserve
Trial balance and Rectification of Errors
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
• 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;
(i) Errors which do not affect trial balance
(ii) Errors which affect trial balance
• preparation of suspense account.
belong to the current year but may happen in
next year.
• appreciate the difference between reserve
and reserve fund.
• 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
Unit 3: Financial Statements of Sole Proprietorship
Units/Topics Learning Outcomes
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
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.
Page 5
Accountancy (Subject Code 055)
Class-XI (2025-26)
Theory: 80 Marks 3 Hours
Project: 20 Marks
Units Marks
Part A: Financial Accounting-1
Unit-1: Theoretical Framework 12
Unit-2: Accounting Process 44
Part B: Financial Accounting-II
Unit-3: Financial Statements of Sole Proprietorship 24
Part C: Project Work 20
PART A: FINANCIAL ACCOUNTING - I
Unit-1: Theoretical Frame Work
Units/Topics Learning Outcomes
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,
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.
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.
• state the meaning of fundamental accounting
assumptions and their relevance in
accounting.
• describe the meaning of accounting
assumptions and the situation in which an
assumption is applied during the accounting
process.
• explain the meaning, applicability, objectives,
advantages and limitations of accounting
standards.
• appreciate that various accounting standards
developed nationally and globally are in
practice for bringing parity in the accounting
treatment of different items.
• 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.
• Explain the meaning, advantages and
characteristic of GST.
Unit-2: Accounting Process
Units/Topics Learning Outcomes
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
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
• 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:
i. Straight Line Method (SLM)
ii. Written Down Value Method (WDV)
Note: Excluding change of method
• Difference between SLM and WDV;
Advantages of SLM and WDV
• Method of recoding depreciation
i. Charging to asset account
ii. Creating provision for
depreciation/accumulated depreciation
account
• Treatment of disposal of asset
• Provisions, Reserves, Difference Between
Provisions and Reserves.
• Types of Reserves:
i. Revenue reserve
ii. Capital reserve
iii. General reserve
iv. Specific reserve
v. Secret Reserve
• Difference between capital and revenue
reserve
Trial balance and Rectification of Errors
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
• 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;
(i) Errors which do not affect trial balance
(ii) Errors which affect trial balance
• preparation of suspense account.
belong to the current year but may happen in
next year.
• appreciate the difference between reserve
and reserve fund.
• 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
Unit 3: Financial Statements of Sole Proprietorship
Units/Topics Learning Outcomes
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
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.
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.
Read MoreFAQs on Syllabus: Accountancy for Class 11
| 1. What are the main topics covered in CBSE Accountancy Class 11 syllabus? |  |
Ans. CBSE Accountancy Class 11 covers fundamental accounting principles including journal entries, ledger accounts, trial balance, bank reconciliation, depreciation methods, and final accounts preparation. Students also learn about adjustment entries, errors in accounting records, and basic financial statement analysis. The course establishes foundational bookkeeping skills essential for advanced accountancy studies in Class 12.
| 2. How do I understand the difference between debit and credit in double-entry bookkeeping? | |
Ans. Debit entries record increases in assets and expenses, or decreases in liabilities and income. Credit entries work oppositely-they increase liabilities and income while decreasing assets and expenses. Every transaction has equal debits and credits, maintaining the accounting equation (Assets = Liabilities + Capital). Mastering this fundamental principle is crucial for accurate journal entries and ledger posting throughout your Class 11 accountancy course.
| 3. What's the easiest way to prepare a trial balance and why do we need it? | |
Ans. Trial balance lists all ledger account balances on a specific date, with total debits equalling total credits. Extract balances from each ledger account, categorise them as debit or credit, then total both columns. This step proves the accuracy of journal entries and ledger postings before preparing final accounts. It acts as a checkpoint for identifying posting errors in your accounting records early.
| 4. Why do adjustment entries matter in final accounts preparation for Class 11? | |
Ans. Adjustment entries correct incomplete or unrecorded transactions at year-end, ensuring accounts reflect the true financial position. Common adjustments include accrued expenses, prepaid amounts, depreciation, outstanding salaries, and doubtful debts. Without these adjustments, your profit and loss statement and balance sheet would misrepresent actual financial performance. Understanding adjustment entries prevents inflated profits and misleading asset valuations in final accounts.
| 5. How do I calculate depreciation using different methods in my accountancy studies? | |
Ans. Depreciation reduces asset value over time through straight-line method (equal annual amount), reducing balance method (decreasing annual charge), or units of production method (based on usage). Choose the method matching your asset's usage pattern. Straight-line suits steady-use assets; reducing balance suits technology. Proper depreciation calculation ensures accurate asset valuation on the balance sheet and realistic expense reporting in profit and loss statements.
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