CBSE Class 11 Accountancy New Term-wise Revised syllabus 2021-22_00.1
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CBSE Class 11th Accountancy New Term-wise Revised syllabus 2021-22

CBSE Class 11 Accountancy New Term-wise Revised syllabus 2021-22 Pdf Download

In the latest update from Central Board of Secondary Education (CBSE), a circular has been issued where the syllabus for academic year 2021-22 has been updated. This syllabus has been updated for Class 11th Accountancy.

Earlier a notice was issued where it was stated that from 2022 onwards, there will be two term exams for Class 11th. This decision has been taken on the based on this year board exams condition. Which had to be cancelled due to covid-19.

For the academic year 2021-22, the board is also aiming to make internal assessment, practical, project work more credible and valid for ensuring the fair distribution of marks, an official statement said.

The revised syllabus will have two terms, term 1 and term 2. Both the terms will have 50% of the total syllabus. This will reduce the final exam pressure on the students and the parents. Teachers can easily cover 50% of the syllabus in 6 months.

The first term exam will be based on MCQ type question and it will be conducted from November to December. The second term exam will have mixed type questions like long answers, short answers, MCQ’s, True or False, etc. It will be conducted from March to April.

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CBSE New Term Wise Combined Revised Syllabus for Class 11 Accountancy 2021-22

 

Accountancy subject is a source of financial information. Its syllabus content provides students a firm foundation in basic accounting concepts and methodology and also acquaint them with the changes taking place in the preparation and presentation of financial statements in accordance to the applicable accounting standards and the Companies Act 2013.

Objectives:

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 the skills of designing need-based accounting database.

4. To appreciate the role of ICT in business operations.

5. To develop an understanding about recording of business transactions and preparation of financial statements.

6. To enable students with accounting for Not-for-Profit organizations, accounting for Partnership Firms and company accounts

Both term syllabus divided into 3 parts. Part A Statistics for Economics and part B Introductory Microeconomics. Both cover 40 marks and part C cover 10 mark which is a project work

Subject – Accountancy

Academic session- 2021-22

Class Xi -Term wise curriculum

Students would prepare only ONE project in the entire academic session, which is divided into 2 terms i.e. Term I and Term II. Project work marks – 10

Click Here: CBSE New Term wise Revised Syllabus 2021-22. (All Stream)

 

CBSE Class 11th Accountancy New Term wise Revised Syllabus 2021-22: Term -1

TERM -1

PART A: FINANCIAL ACCOUNTING – I

Unit-1: Theoretical Framework

Units/Topics

Introduction to Accounting – this unit cover

• 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 – this unit cover

• Fundamental accounting assumptions: GAAP: 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 Objective.

Unit-2: Accounting Process

UNITS/ TOPICS

Recording of Business Transactions – this unit cover

• 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 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.

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) Note: Excluding change of method • 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

• 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

Students would prepare only ONE project in the entire academic session, which is divided into 2 terms i.e. Term I and Term II. Project work marks – 10

 

CBSE Class 12th Accountancy New Term wise Revised Syllabus 2021-22: Term -2

Term – II

PART A: FINANCIAL ACCOUNTING – I

Unit-1: Theoretical Framework

Units/Topics

Unit: Accounting for Bills of Exchange

Units/Topics – This unit cover

• 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

Note: excluding accounting treatment for accommodation bill Trial balance and Rectification of Errors

• Trial balance: objectives and preparation (Scope: Trial balance with balance method only)

• 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

Unit 3: Financial Statements of Sole Proprietorship

Units/Topics

Financial Statements – this unit cover

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.

Unit 4: Computers in Accounting – this unit cover

Units/Topics

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

Scope:

(i)                 The scope of the unit is to understand accounting as an information system for the generation of accounting information and preparation of accounting reports.

(ii)                It is presumed that the working knowledge of any appropriate accounting software will be given to the students to help them learn basic accounting operations on computers.

Part C: Project Work

The project work would be divided into two parts i.e. Term I (10 marks) and Term II (10 marks) for the purpose of assessment and will be covered as detailed below.

Comprehensive project of any sole proprietorship business. This may state with journal entries and their ledger postings, 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.

 

PROJECT WORK

It is suggested to undertake this project after completing the unit on preparation of financial statements.

The student(s) will be allowed to select any business of their choice or develop the transaction of imaginary business. The project is to run through the chapters and make the project an interesting process. The amounts should emerge as more realistic and closer to reality.

Specific Guidelines for Teachers Give a list of options to the students to select a business form. You can add to the given list:

1. A beauty parlour             10. Men’s wear                        19. A coffee shop

2. Men’s saloon                    11. Ladies wear                      20. A music shop

3. A tailoring shop               12. Kiddies wear                     21. A juice shop

4. A canteen                         13. A Saree shop                    22. A school canteen

5. A cake shop                      14. Artificial jewellery shop   23. An ice cream parlour

6. A confectionery shop       15. A small restaurant             24. A sandwich shop

7. A chocolate shop              16. A sweet shop                    25. A flower shop

8. A dry cleaner                    17. A grocery shop

9. A stationery shop              18. A shoe shop

The student(s) would be able to see the things as they need to invest in furniture, decor, lights, machines, computers etc. A suggested list of different item is given below.

1. Rent                                                           19. Wages and Salary

2. Advance rent [appro. three months]          20. Newspaper and magazines

3. Electricity deposit                                      21. Petty expenses

4. Electricity bill                                            22. Tea expenses

5. Electricity fitting                                        23. Packaging expenses

6. Water bill                                                   24. Transport

7. Water connection security deposit             25. Delivery cycle or a vehicle purchased

8. Water fittings                                             26. Registration

9. Telephone bill                                            27. Insurance

10. Telephone security deposit                      28. Auditor’s fee

11. Telephone instrument                              29. Repairs & Maintenance

12. Furniture                                                  30. Depreciations

13. Computers                                                31. Air conditioners

14. Internet connection                                   32. Fans and lights

15. Stationery                                                  33. Interior decorations

16. Advertisements                                         34. Refrigerators

17. Glow sign         18. Rates and Taxes        35. Purchase and sales

At this stage, performas of bulk of originality and ledger may be provided to the students and they may be asked to complete the same. In the next step the students are expected to prepare the trial balance and the financial statements

Prescribed Books:

Financial Accounting-I Class XI NCERT Publication Accountancy -II Class XI NCERT Publication Accountancy -I Class XII NCERT Publication Accountancy -II Class XII NCERT Publication Accountancy – Computerised Accounting System Class XII NCERT Publication

CBSE New Syllabus For Class 12 & 11 2021-2022

CBSE Class 12 New Syllabus 2021-22 CBSE Class 11 New Syllabus 2021-22
Class 12 Maths Class 11 Maths
Class 12 Physics Class 11 Physics
Class 12 Chemistry Class 11 Chemistry
Class 12 Biology Class 11 Biology
Class 12 Economics Class 11 Economics
Class 12 Accountancy Class 11 Accountancy
Class 12 History Class 11 History
Class 12 Geography Class 11 Geography
Class 12 Political Science Class 11 Political Science
Class 12 English Class 11 English

 

CBSE New Syllabus Class 9 & 10 For 2021-2022

CBSE Class 10 New Syllabus 2021-22 CBSE Class 9 New Syllabus 2021-22
Class 10 Maths Class 9 Maths
Class 10 Science Class 9 Science
Class 10 Social Science Class 9 Social Science
Class 10 English Class 9 English

 

 

Frequently Asked Questions (FAQs)

Q.1. What are the key skills that student attains from Accountancy course?

Answer: The study of accountancy uniquely enriches the student with analytical and problem

solving skills in addition to the knowledge of functioning of financial information, accounting, and shares

 

Q.2. How many courses of Accountancy will the student need to study if she/he chooses

Accountancy as main option in B.com/ BBA Program?

Answer: Student with Accountancy as main subject in BCOM/BBA program, studies course of accountancy in each of the first four semesters.

Financial Accounting, Managerial accounting, Advance accounting, corporate tax, Income tax, cost accounting

 

Q.3. What kind of opportunities can a BCOM/ BBA program student with Accountancy option expect for higher studies?

Answer: Choosing Accountancy as main subject in Bcom/BBA program can be Best career options after BCOM/BBA

  • Chartered Accountancy (CA) …
  • Company Secretary (CS) …
  • Master of Commerce (M.Com) …
  • Chartered Financial Analyst (CFA) …
  • Business Accounting and Taxation (BAT) …
  • Certified Management Accountant (CMA) …
  • US Certified Public Accounting (CPA) …
  • Financial Risk Manager (FRM)

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