HP Board Class 11 Syllabus 2024 Accountancy

ACCOUNTANCY
10+1
RATIONALE

The course in Accountancy is introduced at +2 stage of Senior Secondary
education, as formal commerce education is provided after first ten years of schooling
With the fast changing economic scenario and business environment in a state of
continuous flux, elementary business education along with accountancy as the
language of business and as a source of financial information has carved out a place for
itself at the Senior Secondary stage. Its syllabus content should give students a firm
foundation in basic accounting principles and methodology and also acquaint them with
the changes taking place in the presentation and analysis of accounting information
keeping in view the development of accounting standards and use of computers

Against this background, the course puts emphasis on developing basic understanding
about the nature and purpose of the accounting information and its use in the conduct of
business operations This would help to develop among students logical reasoning,
careful analysis and considered judgement

Accounting as an information system aids in providing financial information. The
emphasis at Class XI is placed on basic concepts and process of accounting leading to
the preparation of accounts for a sole proprietorship firm. Computerised accounting is
becoming more and more popular with increasing awareness about use of computers in
business, Keeping this in view, the students are exposed compulsorily to the basic
knowledge about computers and its use in accounting in the same year

OBJECTIVES

* To familiarise the students with accounting as an information system,
* To acquaint the students with basic concepts of accounting and accounting
standards:
* To develop the skill of using accounting equation in processing business
transactions
* To develop an understanding about recording of business transactions and
preparation of financial statements,
* To enable the students with accounting for reconstitution of partnership firms.
*To enable the students of understand and analyse the financial statements and
*To familiarise students with the fundamentals of computerised system of
accounting

COURSE STRUCTURE

UNITS
PART A: FINANCIAL ACCOUNTING I

1. Introduction to Accounting
2. Theory Base of Accounting
3. Recording of Business Transactions
4. Trial Balance and Rectification of Errors
5. Depreciation, Provision and Reserves
6. Accounting for Bills of Exchange Transactions

PART B: FINANCIAL ACCOUNTING II

7. Financial Statements
8. Computers in Accounting
9. Accounting and Database System

PART-A: FINANCIAL ACCOUNTING

Unit 1: Introduction to Accounting

(a) Accounting - Meaning Objectives. Accounting as source of information internal and
external users of Accounting Information and their needs

(b) Qualitative Characteristics of Accounting Information : Reliability Relevance.
Understandability and Comparability

(c) Basic Accounting Terms : Asset, Liability, Capital. Expense, Income. Expenditure
Revenue Debtors, Creditors, goods, cost, Gain, Stock, Purchase Sales Loss, Profit,
Voucher. Discount, Transaction, Drawings

Unit 2: Theory Base of Accounting

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

Process of accounting from recording of business transactions to preparation of trial
balance
Bases of Accounting- Cash Basis, Accrual Basis

Unit 3: Recording of Business Transactions

Voucher and Transactions Origin of Transactions-Source Documents and Vouchers,
preparation of Accounting 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 (1) Purchases
Book, Sales Book, Purchase Returns Book, Sales Returns Book Ledger-meaning,
utility, format, posting from Journal and Subsidiary books, Balancing of Accounts

Bank Reconciliation Statement Meaning. Need and Preparation, Corrected Cash
Balance

Unit 4: Trial Balance and Rectification of Errors

Trial Balance Meaning, Objectives and Preparation

Errors: Types of Errors, errors affecting Trial Balance and Errors not affecting Trial
Balance

Detection and Rectification of Errors (One Sided and Two Sided), use of Suspense
Account

Unit 5: Depreciation, Provisions and Reserves

Depreciation : Meaning and Need for charging depreciation, Factors affecting
depreciation Methods of depreciation - Straight Line method Written Down Value
Method (excluding change in method). Method of recording depreciation-charging to
asset account creating provision for depreciation/accumulated depreciation account.
Treatment of disposal of asset

Provisions and Reserves : Meaning and importance, difference

between Provisions and Reserves types of Reserves Revenue Reserve, Capital
Reserve, General Reserve, Specific Reserve and Secret Reserves

Unit 6: Accounting for Bills of Exchange Transactions

Bills of Exchange and Promissory Note : Definition. Features, Parties Specimen
Distinction.
Important Terms : Term of Bill, Concept of Accommodation Bill Days of Grace, Date of
Maturity. Bill at Sight Negotiation, Endorsement Discounting of bill. Dishonour.
Retirement and Renewal of a bill.
Accounting Treatment of bill transactions

PART B: FINANCIAL ACCOUNTING-II

Unit 7: Financial Statements

Financial Statements : Meaning and Users

Distinction between capital Expenditure and Revenue Expenditure. Trading and Profit
and Loss Account Gross Profit, Operating Profit. Net Profit.

Balance Sheet : need, grouping and marshalling of Assets and Liabilities, Vertical
Presentation of Financial Statement

Adjustments in preparation of financial statements with respect to closing stock,
outstanding expenses, prepaid expenses accrued Income

Income received In advance, depreciation and bad debts, provision for doubtful debts,
provision for discount on debtors, manager's commission

Preparation of Trading and Profit & Loss Account and Balance Sheet of sole
proprietorship.

Unit 8 : Computers in Accounting

Introduction to Computer and Accounting information System (AIS) Applications of
computers in accounting

Automation of accounting process, designing accounting reports, MIS reporting, data
exchange with other information systems

Comparison of accounting processes in manual and computerized accounting,
highlighting advantages and limitations of automation

Sourcing of accounting system: readymade and customized and tailor-made
accounting system. Advantages and disadvantages of each option

Unit 9: Accounts from Database System

Accounting and Database Management System

Concept of entity and relationship : entities and relationships in an Accounting
System designing and creating simple tables, forms, queries and reports in the context
of Accounting System

Subject : Accountancy Class: XI ( Regular )
Annual (Theory) Session : 2022-23
Time: 3 hours Max marks: 80
Unit wise Distribution
Marks of Marks
distribution
Unit No. Particulars Marks assigned
1 Introduction of accounting 5
· Accounting : An Introduction
· Basic Accounting terms
2 Theory base of Accounting 7
· Accounting Concepts and Principles
· Accounting Standards
· Basis of Accounting
3 Recording of Business Transactions 15
· Accounting Equation
· Elements of Double Entry System
· Books of Original Entry : Journal, Ledger, Subsidiary books, Cash
· Book Bank Reconciliation Statement
4 Trial Balance and Rectification of errors 6
· Trial Balance
· Errors and their rectification
5 Depreciation Reserves and Provisions 9
· Depreciation
· Reserves and Provisions
6 Accounting For Bills of Exchange Transactions 8
· Bills of Exchange
7 Financial Statements 19
· Presentation of Final Accounts
· Financial Statements
· Financial Statements with Adjustments
8 Computers in Accounting 7
· Computers in Accounting
· Accounting Information System
9 Accounts from Database System 4
· Accounting from Database System
Total marks 80

The Annual theory paper will be of eighty (80) marks

Subject : Accountancy Class: XI ( Regular )
Annual (Theory) Session : 2022-23
Time: 3 hours Design of Question Paper Max marks: 80

(Blue Print)

1 mark
2 mark 3 mark 5 mark
Name of the unit questions Total marks
questions questions questions
(MCQ)

1. Introduction of accounting 2 -- 1X3=3 -- 5

2. Theory base of Accounting 2 1X2=2 1X3=3 -- 7

1 X3=3 2 X 5 = 10
3. Recording of Business
2 -- Numerical/ Numerical/ 15
Transactions
Theory Theory

4. Trial Balance and Rectification of 1 X3=3
1 1X2=2 -- 6
errors Numerical

5. Depreciation Reserves and 1X5=5
2 1X2=2 -- 9
Provisions Numerical

6. Accounting For Bills of Exchange 1X5=5
1 1X2=2 -- 8
Transactions Numerical

1X5=5
7. Financial Statements 3 1X2=2 3X3=9 19
Numerical

8. Computers in Accounting 2 1X2=2 1X3=3 -- 7

9. Accounts from Database System 1 -- 1X3=3 -- 4

Total 1 X 16 = 16 2 X 6 = 12 3 X 9 = 27 5 X 5 = 25 80

Subject : Accountancy Class: XI ( Regular )
Annual (Theory) Session : 2022-23

Blue Print of MCQ

S. No. Type of question No. of questions
1 Concept based /Direct 7
2 Numerical Based ( Application and Skill based) 2
3 Match the columns 1
4 Case study/comprehensions/statement 2
5 Assertion and reasoning 2
6 Diagram/graph/ interpretation --
7 Miscellaneous (Understanding and knowledge based) 2
Total no. of questions 16

Each MCQ carries 1 mark only
No internal choice be given in the MCQ section