Clas XI - Accountancy
Index

Unit 1: Accounting meaning objectives and basic accouning terms [6 marks]

1.1 Meaning -summarisation of accounting process in simple words
1.1.1 financial transactions
1.1.2 recording
1.1.3 classification and summarisation
1.1.4 analysis and interpretation

1.2 Objectives
1.2.1 to maintain records of business
1.2.2 calculation of profit or loss
1.2.3 depiction of financial position
1.2.4 to make the information available to various groups and users

1.3 Basic Terms
1.3.1 capital
1.3.2 liability
1.3.3 assets
1.3.4 revenue
1.3.5 expense
1.3.6 purchase
1.3.7 sales
1.3.8 stock
1.3.9 debtors
1.3.10 creditios

Unit 2: Theory Base of Accounts [5 marks]

2.1 Basic Assumption
2.1.1 accounting entity
2.1.2 going concern
2.1.3 money measurement
2.1.4 verifiable objective
2.1.5 accounting period

2.2 Basic Principles
2.2.1 revenue realizatin
2.2.2 expense
2.2.3 matching
2.2.4 full disclosure
2.2.5 verifiable objective
2.2.6 dual aspect

2.3 Modifying Principles
2.3.1 materiality
2.3.2 consistency
2.3.3 conservastism (prudence)
2.3.4 timeliness
2.3.5 industry practice

Unit 3: Origin and Recording of Transactions [10 marks]

3.1 Source documents
3.2 Accounting equation - meaning and computation
3.3 Rules of debit and credit
3.3.1 for assets
3.3.2 for liabilities
3.3.3 capital
3.3.4 revenues
3.3.5 for expense

3.4 Double Entry Book Keeping

3.5 Books of original entry- meaning, format and entries
3.5.1 journal
3.5.2 cash book - single column
3.5.3 cash book - double colum
3.5.4 cash book - three column
3.5.5 petty cash book
3.5.6 day books - purchase sales
3.5.7 purchase returns and sales returns

3.6 Ledger
3.6.1 meaning,format, distinction between books of original entry and ledger
3.6.2 classificatin of ledger accounts
3.6.3 posting from hournal, cash book and day books
3.6.4 balancing of accounts

3.7 Bank Reconciliation Statement
3.7.1 meaning
3.7.2 need and importance
3.7.3 preparatino - simple exercise

Unit 4: Trial Balance and Errors [8 marks]

4.1 Meaning of trial balance
4.2 Objective of trial balance
4.2.1 asecertain arithmatic accuracy of leder accounts
4.2.2 to help in locating errors
4.2.3 to help in preparatio of final accounts

4.3 Preparation of trial balance
4.4 Errors
4.4.1 errors of commission
4.4.2 errors of omission
4.4.3 errors of principle
4.4.4 compensative errors

4.5 Rectification of errors by passing jopurnal entries

4.6 Suspense accouts- meaning utility preparation and disposal

Unit 5: Financial Statements - Trading Account, Profit and Loss Account and Balance Sheet [15 marks]

5.1 Trading accout, meaning, need, preparation
5.2 Profit and loss account, meaning, need, preparation
5.3 balance sheet, meaning, need, preparation
5.4 use of further information for adjustments in preparation of financial accounts
5.4.1 depreciation
5.4.2 provision for doubtful debts
5.4.3 outstanding expenses
5.4.4 prepaid expenses
5.4.5 ioncome recived in advance and accrued incomes
5.4.6 borad classifiaction of cpital and revenue items
5.4.7 closing stock

5.5 Methods of presenting
5.5.1 horizontal form- meaning presentation
5.5.2 vertical form

Unit 6: Computer Awareness [6 marks]

6.1 introduction to computers - menaing and features
6.2 role of computer in accounting
6.3 concept of flow chart
6.4 types of process in relation to accounting system- such as spread sheet, data base and word processor
(the student should be exposed to the software packages relavent to the elementary accouting application)

Unit 7: Depreciaton, reserves and provisions [10 marks]

7.1 Depreciation
7.1.1 Meaning of depreciation
7.1.2 need for charging depciation
7.1.3 methods of depreciation, strait line method, written down value method

7.2 Reserves and Provisions
7.2.1 Menaing and importance
7.2.2 Difference between res and provisions
7.2.3 Types of reserves- revenue reserve, general reserve and specific reserve for replacement of assets, capital reserve (example)
7.2.4 provision for doubtful debts, provision for discount on debtors, provision for tax
7.2.5 accounting for reserve and provisions

Unit 8: Bills of Exchange [10 marks]
8.1 definition
8.2 features
8.3 parties to a bill of exchanges - drawee and payee
8.4 specimen of a bill of exchange
8.5 important terms - days of grace, date of maturity, negotiation endorsement, discounting of bill, dishonour of bill, noting charges, retirement and renewal of bill.
8.6 journal entries
8.7 necessary accounts in the books of drawer and drawee

Unit 9: Accounts of Non-profit Organisations [15 marks]

9.1 Meaning of non-profit organisation with examples
9.2 Receipts and payments and accouts -meaning and relavent items
9.3 Income and expenditure account and balance sheet
9.3.1 mening and relavant items
9.3.2 preparation
9.3.3 distinction between receipts and payments account and income and expenditure accounts
9.3.4 preparation of receipts and payments account from incomplete receipts and expense accounts with additional information ( simple exercise)

Unit 10: Accounts from Incomplete Records [15 marks]

10.1 Meaning
10.2 Ascertainment of profit or loss by statement of affairs
10.3 Preparation of Trading Profit & Loss Account and Balance Sheet (with reference to missing figures in debtors' account, creditors' account, bills receivable bills payable and cash)

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