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Class 11

Accountancy

47 lessons in 9 chapters, explained in plain words.

Introduction to Accounting

  1. What accounting is
  2. Accounting as information
  3. Objectives and role of accounting
  4. Basic terms I
  5. Basic terms II

Theory Base of Accounting

  1. GAAP, entity and money measurement
  2. Going concern, period and cost
  3. Dual aspect, revenue recognition and matching
  4. Disclosure, consistency, prudence, materiality, objectivity
  5. Systems, bases and standards
  6. Goods and Services Tax

Recording of Transactions-I

  1. Transactions and vouchers
  2. The accounting equation
  3. Debit and credit
  4. The journal
  5. GST entries
  6. The ledger and posting

Recording of Transactions-II

  1. Special books and the simple cash book
  2. The double column cash book
  3. The petty cash book
  4. Purchases and purchases return books
  5. Sales books and the journal proper
  6. Balancing accounts

Bank Reconciliation Statement

  1. Why the bank balances differ
  2. Reconciling favourable balances
  3. Reconciling overdrafts
  4. Errors in the reconciliation

Trial Balance and Rectification of Errors

  1. The trial balance
  2. Kinds of errors
  3. Rectifying two-sided errors
  4. Suspense account
  5. Rectification problems

Depreciation, Provisions and Reserves

  1. What depreciation is and why it is charged
  2. Straight line and written down value
  3. Recording depreciation
  4. Selling or losing an asset
  5. Provisions and reserves

Financial Statements - I

  1. Who reads the accounts, and capital or revenue
  2. The trading and profit and loss account
  3. Cost of goods sold and operating profit
  4. The balance sheet
  5. Final accounts from a trial balance

Financial Statements - II

  1. Why accounts need adjusting
  2. Incomes due, incomes in advance, depreciation
  3. Bad debts and provisions
  4. Manager's commission and interest on capital
  5. Final accounts with adjustments