NCERT Class 11 Syllabus for Accountancy

CLASS XI
Semester I: Financial Accounting-I
Semester-II: Financial Accounting-II

CLASS XII
Semester III: Accounting for Not-for-Profit Organisations and Partnership Firms
Semester IV: Company Accounts and Financial Statement Analysis

Semester I: Financial Accounting - I
XI
CLASS XI

(Total Periods 104)

Unit I: Introduction to Accounting (Periods 12)
• Accounting – Meaning, Objectives, Accounting as source of information, Internal and External
users of accounting information and their needs. 137
• Qualitative Characteristics of Accounting Information – Reliability, Relevance, Understandability Syllabus
and Comparability. for
• Basic Accounting Terms – Asset, Liability, Capital, Expense, Income, Expenditure, Revenue, and
Debtors, Creditors, Goods, Cost, Gain, Stock, Purchase, Sales, Loss, Profit, Voucher, Discount, Higher
Transaction, Drawings. Secondary
Levels
Unit II: Theory Base of Accounting (Periods 12)
• Accounting Principles – Meaning and Nature.
• Accounting Concepts: Entity, Money Measurement, Going Concern, Accounting Period, Cost
Concept, Dual Aspect, Revenue Recognition (Realisation), Matching, Accrual, Full Disclosure,
Consistency, Conservatism, Materiality.
• Accounting Standards – Concept and List of Indian Accounting Standards.
• Accounting Mechanism – Single Entry and Double Entry.
• Bases of Accounting – Cash Basis, Accrual Basis.

Unit III: Recording of Business Transactions (Periods 20)
• Voucher and Transactions: Origin of Transactions – Source documents and Vouchers, Preparation
of vouchers; Accounting equation approach – Meaning and Analysis of transactions using
accounting equation; Rules of debit and credit.
• Recording of Transactions: Books of original entry – Journal, Special purpose books: (i) Cash
book – Simple, Cashbook with bank column and Petty cashbook, (ii) Purchases book, Sales
book, Purchases returns book, Sale returns book; Ledger: Meaning, Utility, Format; Posting
from journal and subsidiary books; Balancing of accounts.
• Bank Reconciliation Statement: Meaning, Need and Preparation, Correct cash balance.