Class 11 Accountancy Syllabus 2021-22
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.
Class 11 Accountancy Syllabus 2021-22 Pdf Download
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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Accountancy Class 11 Syllabus 2021-22 for Term 1 & Term 2
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)
Term 1 Class 11 Accountancy New Syllabus 2021-22
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
Term 2 Class 11 Accountancy New Syllabus 2021-22
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
CBSE Class 11 Accountancy Syllabus 2021-22: 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 Class 12 Deleted Syllabus 2021-22
CBSE Class 11 Deleted Syllabus 2021-22
CBSE Class 10 Deleted Syllabus 2021-22
CBSE Class 9 Deleted Syllabus 2021-22
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 |
CBSE Class 11 Accountancy Syllabus 2021-22 for Term 1 & 2: 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)
