Edudel Syllabus 2025 Class 11 Accountancy

ANNUAL SYLLABUS
SESSION 2024-2025
CLASS-XI
SUBJECT: ACCOUNTANCY (Code-055)
CONTENTS
PART A FINANCIAL ACCOUNTING-1
UNIT 1: THEORETICAL FRAMEWORK
Introduction to Accounting
 Accounting- concept, meaning, as a source of information, 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- Entity, Business Transaction, Capital, Drawings. Liabilities
(Non Current and Current). Assets (Non Current, Current); Expenditure (Capital and
Revenue), Expense, Revenue, Income, Profit, Gain, Loss, Purchase, Sales, Goods,
Stock, Debtor, Creditor, Voucher, Discount (Trade discount and Cash Discount)
Theory Base of Accounting
 Fundamental accounting assumptions: GAAP: Concept
 Basic accounting 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 of Accounting Standards (AS) and Indian
Accounting Standards (IndAS)
 Goods and Services Tax (GST): Characteristics and Advantages.
 UNIT-2 ACCOUNTING PROCESS
Recording of Business Transactions
 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
 Journal proper
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, Bank Reconciliation Statement

 Completion of the Mid-Term Syllabus by 13 h September 2024
 MID TERM EXAM
CONTENTS
Discussion of Mid - Term Question Paper

Depreciation, Provisions and Reserves

 Depreciation: Meaning, Features, Need, Causes, factors
 Other similar terms: Depletion and Amortization
 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
 Methods of recording depreciation
 i. Charging to asset account
 ii. Creating provision for depreciation/accumulated depreciation account
 iii. Treatment for disposal of asset
 Provisions and Reserves: Difference between Provisions and Reserves
 Types of Reserves:
 i. Revenue reserve
 ii. Capital reserve
 iii. General reserve
 iv. Specific reserve
 v. Secret Reserve
 Difference between capital and revenue reserve
Trial balance and Rectification of Errors
 Trial balance: objectives, meaning and preparation (Scope: Trial balance with
balance method only)
 Errors: classification-errors of omission, commission, principles, and
compensating; their effect on Trial Balance.
 Detection and rectification of errors;
(i) Errors which do not affect trial balance
(ii) Errors which affect trial balance
 Preparation of suspense account.
PART-B: FINANCIAL ACCOUNTING-II
UNIT-3: FINANCIAL STATEMENTS OF SOLE PROPRIETORSHIP
Financial Statements
Meaning, objectives and importance; Revenue and Capital receipts. Revenue and Capital
expenditure; Deferred Revenue expenditure. Opening journal entry. 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(excluding conversion
method)
 PROJECT WORK (As per CBSE guidelines)
 Complete the Annual Syllabus by 31st January 2025
 ANNUAL EXAM
 Complete Syllabus will be covered in Annual Exam

Accountancy (Code No.055)
Course
Structure
Class-XI
(2024-25)
Theory: 80 Marks Time: 3 Hours
Project: 20 Marks

Units Periods Marks
Part A: Financial Accounting-1
Unit-1: Theoretical Framework 25 12
Unit-2: Accounting Process 115 44
Part B: Financial Accounting-II
Unit-3: Financial Statements of Sole Proprietorship 60 24

Part C: Project Work 20 20