11 Accountancy 2017 18

MONTHLY SYLLABUS
SESSION-2017-18
CLASS-XI
SUBJECT : ACCOUNTANCY
MONTH CONTENTS
July, 2017 PART A: FINANCIAL ACCOUNTING - I

Unit-I: Theoretical Frame Work
Introduction to Accounting:
 Accounting- concept, objectives, advantages and
limitations, types of accounting information; users of
accounting information and their needs.
 Basic accounting terms: business transaction, account,
capital, drawings, liabilities (non -current and current);
assets (non-current and current) fixed assets (tangible
and intangible assets), receipts (capital and revenue),
expenditure (capital, revenue and deferred), expense,
income, profits, gains and losses, purchases, purchases
returns, sales, sales returns, goods, stock, inventory,
trade receivables (debtors and bills receivable), trade
payables (creditors and bills payable), cost, vouchers,
discount - trade and cash.
Theory Base of Accounting:
 Fundamental accounting assumptions: going concern,
consistency and accrual.
 Accounting principles: accounting entity, money
measurement, accounting period, full disclosure,
materiality, prudence, cost concept, matching concept
and dual aspect.
 Accounting Standards and IFRS (International
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Financial Reporting Standards): concept and
objectives.
 Double entry system of accounting.
 Bases of accounting - cash basis and accrual basis.
Unit-2: Accounting Process
Recording of Transactions
 Accounting equation: analysis of transactions using
accounting equation.
 Rules of debit and credit: for assets, liabilities, capital,
revenue and expenses.
 Origin of transactions- source documents/supporting
vouchers (invoice, cash memo, pay in slip, cheque
etc.), debit note, credit note, preparation of accounting
vouchers - cash (debit and credit) and non cash
(transfer).
YUVA Session 2.2 : Fun with Force
August, 2017 Unit-2: Accounting Process

Recording of Transactions
 Books of original entry: format and recording -Journal.
 Cash Book: Simple Cash Book, Cash Book with Bank
Columns and Petty Cash Book.
 Other books: purchases book, sales book, purchases
returns book and sales returns book and journal proper.
Preparation of Ledger
 Ledger - format, posting from journal, cash book and
other special purpose books, balancing of accounts.
YUVA Session 7.7 : Help! I am Bleeding
2
September, Unit-2: Accounting Process
2017 Preparation of Trial Balance
 Trial balance: objectives and preparation
(Scope: Trial Balance with balance method only)
Preparation of Bank Reconciliation Statement
 Bank Reconciliation statement - Concept, calculating
bank balance at an accounting date: need and
preparation. Corrected cash book method
YUVA Session 3.6 : If there was a Bomb Threat!
SECOND TERM
October, 2017 Unit-2: Accounting Process

Depreciation, Provision and Reserves
 Depreciation: concept need and factors affecting
depreciation; methods of computation of depreciation:
straight line method, written down value method
(excluding change in method).
 Accounting treatment of depreciation: by charging to
asset account, by creating provision for depreciation/
accumulated depreciation account, treatment of
disposal of asset.
 Provisions and reserves: concepts, objectives and
difference between provisions and reserves; types of
reserves - revenue reserve, capital reserve, general
reserve and specific reserve.
Unit-2: Accounting Process
Accounting for Bills of Exchange
 Bills of exchange and promissory note: definition,
features, parties, specimen and distinction.
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YUVA Session 3.7 : Road Safety and Us
November, Unit-2: Accounting Process

2017 Accounting for Bills of Exchange
 Important terms: term of bill, due date, days of grace,
date of maturity, discounting of bill, endorsement of
bill, bill sent for collection, dishonor of bill, noting of
a bill, retirement and renewal of a bill.
 Accounting treatment of bill transactions.
Rectification of Errors:
 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: From
Complete and Incomplete Records
 Financial Statements: objective and importance.
 Trading and profit and loss account: gross profit,
operating profit and net profit.
 Balance Sheet: need, grouping, marshalling of assets
and liabilities.
 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,
manager’s commission, abnormal loss, goods taken for
personal use, goods distributed as free samples and
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manager’s commission.
YUVA Session 3.3 : My Principles are my strength
December, 2017 Unit 3: Financial Statements of Sole Proprietorship: From

Complete and Incomplete Records
 Preparation of Trading and Profit and Loss Account
and Balance Sheet of sole proprietorship.
Accounts from Incomplete Records
 Incomplete records: uses and limitations.
 Ascertainment of profit/loss by statement of affairs
method.
Unit 4: Financial Statements of Not-for-Profit Organizations
 Not-for-profit organizations: concepts.
 Receipts and Payment account: features.
 Income and Expenditure account: features. Preparation
of Income and Expenditure account and Balance Sheet
from the given Receipts and Payments account with
additional information.
Scope:
(i) Adjustments in a question should not exceed 3 or 4 in
number and restricted to subscriptions, consumption of
consumables, and sale of assets/old material.
(ii) Entrance/admission fees and general donations are to be
treated as revenue receipts.
(iii) Trading Account of incidental activities is not to be
prepared.
Unit 5: Computers in Accounting
 Introduction to Computer and Accounting Information
System [AIS]: Introduction to computers (Elements,
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Capabilities, Limitations of Computer system.
 Introduction to operating software, utility software and
application software. Introduction to Accounting
Information System (AIS) as a part of Management
Information System.
YUVA Session 9.12 : Compassion is the Key
January 2018 Unit 5: Computers in Accounting

 Automation of Accounting Process: Meaning
 Stages in automation: (a) Accounting process in a
computerised environment; Comparison between
manual accounting process and computerised
accounting process, (b) Sourcing of accounting
software; kinds of software: readymade software;
customised software and tailor-made software;
Generic Considerations before sourcing accounting
software (c) Creation of Account groups and hierarchy
(d) Generation of reports - Trial balance, Profit and
Loss account and Balance Sheet.
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 (Any One)
1. Collection of Source Documents, Preparation of
Vouchers, Recording of Transactions with the help of
vouchers.
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2. Preparation of Bank Reconciliation Statement with the
given cash book and the pass book with twenty to twenty-
five transactions.
3. Comprehensive project of any sole proprietorship
business. This may start with journal entries and their
ledgering, preparation of Trial balance, Trading and Profit
and Loss Account and Balance Sheet. Expenses, Incomes
and profits (losses), assets and liabilities to be depicted
using pie chart/bar diagram.
February, 2018 REVISION
March, 2018 ANNUAL EXAMINATION

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MONTHLY SYLLABUS

July, 2017 PART A: FINANCIAL ACCOUNTING - I

August, 2017 Unit-2: Accounting Process

October, 2017 Unit-2: Accounting Process

November, Unit-2: Accounting Process

December, 2017 Unit 3: Financial Statements of Sole Proprietorship: From

January 2018 Unit 5: Computers in Accounting

February, 2018 REVISION

March, 2018 ANNUAL EXAMINATION

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