Madhya Pradesh Board Book keeping & Accountancy Syllabus for Class 11

Unit

Title

Contents

Marks

Periods

Unit-1

Accounting

Meaning, Objectives, Importance and Limitations. Terminology: Business Transactions, Capital, Drawings, Asset, Liabilities, Revenue, Expenditure, Income, Expense and Losses, Goods Purchase, Sales, Stock, Cost, Profits, Voucher discount, Debtors, Creditors, Receivables and Payables. capital revenue, and deferred revenue expenditure Qualitative Characteristics of Accounting information: Reliability Relevance, Understandability and comparability. Accounting methods - single, double, cash and Indian.

5

8

Unit-2

Accounting: Basic Assumptions and Principles

(A) Basic Assumption: Accounting Entity, Money measurement, Going Concern, Accounting period.

(B) Basic Principles: Duality, Verifiability and objectivity of Evidence, Historical Cost, Revenue Recognition, Matching, Full Disclosure.

(C) Modifying Principles: Materiality, Consistency, Prudence.

( D) Accounting Standards: Meaning, Nature and Need.

5

8

Unit-3

Business transaction,

Voucher and it's preparation; Accounting Equations- Meaning and Analysis of transactions using Accounting Equation; Rules of Debit and Credit : for Assets, for Liabilities for capital, for Revenue and for Expenses; Double Entry System:

Meaning, Characteristics, Principles, Merit and Demerits, Classification of accounts under Double Entry System. Accounting stages.

5

8

Unit-4

Journal and Subsidiary Books

Need, Definition, Rules, Recording of Transaction; Special Subsidiary Books: Cash Book: Simple and Bank Column, Petty cash book. Purchases Book, Sales Book, Purchase Return Book , Sales Return Book , Bills, Receivable Book, Bill Payable Book- Format; and Recording Transactions.

10

16

Unit-5

Ledger

Meaning, Utility, Format; Ledger Posting from Journal, Cash Book and Subsidiary books; Balancing of Ledger Accounts.

5

8

Unit-6

Bank Reconciliation statement

Meaning, Need, Importance; Causes of difference in Cash Book and Pass Book balances and Preparation of Bank Reconciliation Statement for Reconciliation.

5

8

Unit-7

Trial Balance and Rectification of Errors

(A) Trial Balance : Meaning, Need, Methods, and Preparation.

(B) Errors :- Types, Errors affecting Trial Balance and Errors not affecting Trial Balance; Detection and rectification; Suspense Account - Meaning, Utility, Preparation and treatment of suspense account balance.

10

16

Unit-8

Bills of Exchange and Promissory note

Meaning, Characteristics, Parties, Specimen and Distinction; Term of bill, Date of maturity and Days of grace; Types of bill, Negotiability, Endorsement, Dishonor, Noting and Insolvency of Acceptor, Retirement and Renewal of bill; Accounting treatment of bill transactions.

5

8

Unit-9

Depreciation (Fixed and Diminishing Balance Methods)

Meaning, Need and Factors affecting depreciation. Methods- Fixed Installment Method, Diminishing Balance Method (Excluding change in method) Disposal of asset.

5

8

Unit-10

Provisions and Reserves

Meaning and Importance; Need for provision for doubtful debts, provisions for doubtful debts, provision for discount on debtors. Difference between provisions and Reserves. Types of Reserve- Revenue and capital; General and specific.

5

8

Unit-11

Financial Statement

Meaning, Importance, Uses, Trading account, Profit and Loss Account; Gross, Operating and Net Profit; Balance Sheet-Marshaling of Assets and Liabilities.

Adjustment in Financial Statements- Closing Stock ,Outstanding and Prepaid Expenses, Earned and Unearned Income, Depreciation,Bad debts, Provision for Bad debts, Provision for Discount on Debtors and Creditors, Manager's Commission, Abnormal Loss, Interest on Capital and Drawings; Goods Sent to Customers for approval and Goods in transit, Preparation of trading, profit and loss account and Balance Sheet of sole traders.

10

16

Unit-12

Accounting in Non-trading concerns

Non-Trading Concern: Meaning and examples;Receipts and Payment account,Income and Expenditure account - Meaning, Importance and method of preparation; Accounting of Cash and Non-cash expenses; preparation of Income and Expenditure account and Balance Sheet on the basis of Receipts and Payment account and adjustments.

10

16

Unit-13

Accounts from Incomplete Records

Incomplete Records: Meaning, Uses and Limitations; Ascertainment of Profit/Loss by statement of affairs method; preparation of Trading and Profit and Loss Account and Balance Sheet (With Reference to missing figures in total debtors account, total creditors account, Bills Receivable, Bills Payable, Cash book and opening statement of affairs).

10

16

Unit-14

Indian System of Accounting

Meaning, Characteristics, Merits, Demerits; Books of original Entry- Band Bahi, Kacchi and Pakki Rokad Bahi , Jama and Nam Nakal Bahi, Difference between Indian System and English System of Book Keeping; Applied Knowledge of Final Accounts.

10

16

Revision

20