CBSE Class 11 Accountancy Syllabus (2026-27)

ACCOUNTANCY (Subject Code 055) Class XI (2026-27)

Rationale

The course in accountancy is introduced at plus two stage of senior second of school education, as the formal commerce education is provided after ten years of schooling. With the fast changing economic scenario, accounting as a source of financial information has carved out a place for itself at the senior secondary stage. Its syllabus content provide students a firm foundation in basic accounting concepts and methodology and also acquaint them with the changes taking place in the preparation and presentation of financial statements in accordance to the applicable accounting standards and the Companies Act 2013.

The course in accounting put emphasis on developing basic understanding about accounting as an information system. The emphasis in Class XI is placed on basic concepts and process of accounting leading to the preparation of accounts for a sole proprietorship firm. The students are also familiarized with basic calculations of Goods and Services Tax (GST) in recording the business transactions. The accounting treatment of GST is confined to the syllabus of class XI.

The increased role of ICT in all walks of life cannot be overemphasized and is becoming an integral part of business operations. The learners of accounting are introduced to Computerized Accounting System at class XI and XII. Computerized Accounting System is a compulsory component which is to be studied by all students of commerce in class XI; whereas in class XII it is offered as an optional subject to Company Accounts and Analysis of Financial Statements. This course is developed to impart skills for designing need based accounting database for maintaining book of accounts.

The complete course of Accountancy at the senior secondary stage introduces the learners to the world of business and emphasize on strengthening the fundamentals of the subject.

Objectives:

1. To familiarize students with new and emerging areas in the preparation and presentation of financial statements.
2. To acquaint students with basic accounting concepts and accounting standards.
3. To develop the skills of designing need based accounting database.
4. To appreciate the role of ICT in business operations.
5. To develop an understanding about recording of business transactions and preparation of financial statements.
6. To enable students with accounting for Not-for-Profit organizations, accounting for Partnership Firms and company accounts.

Accountancy (Subject Code 055) Class-XI (2026-27)

Theory: 80 Marks

Project: 20 Marks

3 Hours

Units Marks

Part A: Financial Accounting-1 Unit-1: Theoretical Framework 12

Unit-2: Accounting Process 44

Part B: Financial Accounting-II Unit-3: Financial Statements of Sole Proprietorship 24

Part C: Project Work 20

PART A: FINANCIAL ACCOUNTING - I

Unit-1: Theoretical Frame Work

Units/Topics Learning Outcomes Introduction to Accounting After going through this Unit, the students will be

Accounting- concept, meaning, as a source able to: of information, objectives, advantages and • describe the meaning, significance,

limitations, types of accounting information; objectives, advantages and limitations of

users of accounting information and their accounting in the modem economic

needs. Qualitative Characteristics of environment with varied types of business

Accounting Information. Role of Accounting in and non-business economic entities.

Business. • identify / recognise the individual(s) and

Basic Accounting Terms- Entity, Business entities that use accounting information for

Transaction, Capital, Drawings. Liabilities serving their needs of decision making.

(Non Current and Current). Assets (Non • explain the various terms used in accounting

Current, Current); Expenditure (Capital and and differentiate between different related

Revenue), Expense, Revenue, Income, terms like current and non-current, capital

Profit, Gain, Loss, Purchase, Sales, Goods, and revenue.

Stock, Debtor, Creditor, Voucher, Discount • give examples of terms like business

(Trade discount and Cash Discount) transaction, liabilities, assets, expenditure

and purchases.

Theory Base of Accounting • explain that sales/purchases include both

Fundamental accounting assumptions: cash and credit sales/purchases relating to

GAAP: Concept the accounting year.

Basic Accounting Concept: Business Entity, • differentiate among income, profits and gains.

Money Measurement, Going Concern,

Accounting Period, Cost Concept, Dual state the meaning of fundamental accounting •

Aspect, Revenue Recognition, Matching, Full assumptions and their relevance in Disclosure, Consistency, Conservatism, accounting.

• describe the meaning of accounting Materiality and Objectivity • System of Accounting. Basis of Accounting: assumptions and the situation in which an cash basis and accrual basis assumption is applied during the accounting

Accounting Standards: Applicability of process.

Accounting Standards (AS) and Indian explain the meaning, applicability, objectives, •

Accounting Standards (IndAS) advantages and limitations of accounting Goods and Services Tax (GST): standards.

Characteristics and Advantages. appreciate that various accounting standards •

developed nationally and globally are in practice for bringing parity in the accounting treatment of different items.

acknowledge the fact that recording of •

accounting transactions follows double entry system.

explain the bases of recording accounting transaction and to appreciate that accrual basis is a better basis for depicting the correct financial position of an enterprise. Explain the meaning, advantages and •

characteristic of GST.

Unit-2: Accounting Process

Units/Topics Learning Outcomes

Recording of Business Transactions After going through this Unit, the students will be Voucher and Transactions: Source able to:

documents and Vouchers, Preparation of explain the concept of accounting equation •

Vouchers, Accounting Equation Approach: and appreciate that every transaction affects Meaning and Analysis, Rules of Debit and either both the sides of the equation or a Credit. positive effect on one item and a negative Recording of Transactions: Books of Original effect on another item on the same side of accounting equation.

• Special Purpose books: explain the effect of a transaction (increase or • Cash Book: Simple, cash book with bank decrease) on the assets, liabilities, capital, column and petty cashbook revenue and expenses.
• appreciate that on the basis of source •

• Sales book documents, accounting vouchers are

Purchases return book prepared for recording transaction in the

Sales return book books of accounts.

• Journal proper • develop the understanding of recording of

Note: Including trade discount, freight and cartage transactions in journal and the skill of

expenses for simple GST calculation. calculating GST.

Ledger: Format, Posting from journal and • explain the purpose of maintaining a Cash

subsidiary books, Balancing of accounts Book and develop the skill of preparing the

format of different types of cash books and

Bank Reconciliation Statement: the method of recording cash transactions in

Need and preparation, Bank Reconciliation Cash book. Statement • describe the method of recording

Depreciation, Provisions and Reserves transactions other than cash transactions as

Depreciation: Meaning, Features, Need, per their nature in different subsidiary books.

Causes, factors • appreciate that at times bank balance as

Other similar terms: Depletion and indicated by cash book is different from the

Amortisation bank balance as shown by the pass book /

Methods of Depreciation: bank statement and to reconcile both the

1. Straight Line Method (SLM) balances, bank reconciliation statement is
2. Written Down Value Method (WDV) prepared.

Note: Excluding change of method develop understanding of preparing bank

Difference between SLM and WDV; reconciliation statement.

Advantages of SLM and WDV • appreciate that for ascertaining the position of

Method of recoding depreciation individual accounts, transactions are posted

1. Charging to asset account from subsidiary books and journal proper into
2. Creating provision for the concerned accounts in the ledger and depreciation/accumulated depreciation develop the skill of ledger posting.

account

• • Treatment of disposal of asset depreciation and develop the skill of using Provisions, Reserves, Difference Between different methods for computing depreciation. Provisions and Reserves.
• Types of Reserves: providing depreciation directly to the Revenue reserve

1. Capital reserve concerned asset account or by creating
2. General reserve provision for depreciation account.
3. Specific reserve
4. Secret Reserve • appreciate the method of asset disposal

Difference between capital and revenue through the concerned asset account or by

reserve preparing asset disposal account.

• Trial balance and Rectification of Errors also making provisions for events which may