Accountancy Class 11 Notes

The syllabus of Accountancy Class 11 comprises of the following chapters. We have prepared various notes along with detailed questions and their solution, relevant for the student of Accountancy Class 11 Notes, who may be studying in CBSE, ISC or as per the NCERT syllabus. Each of these notes have been given under the particular chapter, which you can click and read : –

Chapter 1 – Introduction to Accounting

1. Meaning of Accounting
2. Accounting as a Source of Information
3. Objectives of Accounting
4. Role of Accounting
5. Basic Terms in Accounting – Meaning of Account

Chapter 2 – Theory Base of Accounting Accountancy Class 11 Notes

1. Generally Accepted Accounting Principles (GAAP)
2. Basic Accounting Concepts
3. Systems of Accounting – Singe Entry System
4. Basis of Accounting
5. Accounting Standards

Chapter 3 – Recording of Transactions

1. Business Transactions and Source Document
2. Accounting Equation
3. Using Debit and Credit  
   • Rules of Debit and Credit
4. Books of Original Entry – Click for Journal in Accounts
5. The Ledger
6. Posting from Journal

Chapter 4 – Recording of Transactions Accountancy Class 11 Notes

1. Cash Book
2. Purchases (Journal) Book
3. Purchases Return (Journal) Book
4. Sales (Journal) Book
5. Sales Return (Journal) Book
6. Journal Proper
7. Balancing the Accounts

Chapter 5 -Bank Reconciliation Statement

1. Need for Reconciliation
2. Preparation of Bank Reconciliation Statement
   • Renewal of Bill of Exchange
   • Accounting for Bills of Exchange
   • Bills of Exchange Questions and Answers
   • Dishonour of Bill Accounts
   • Calculation of due date of bill of exchange
   • Practice Questions and Solutions  Bank Reconciliation Statement

Chapter 6 -Trial Balance and Rectification of Errors

1. Meaning of Trial Balance
2. Objectives of Preparing the Trial Balance
3. Preparation of Trial Balance – Trial Balance Questions 
4. Significance of Agreement of Trial Balance
5. Searching of Errors
6. Rectification of Errors

Chapter 7 – Depreciation, Provisions and Reserves Accountancy Class 11 Notes

1. Depreciation
2. Depreciation and other Similar Terms
3. Causes of Depreciation
4. Need for Depreciation
5. Factors Affecting the Amount of Depreciation
6. Methods of Calculating Depreciation Amount
7. Straight Line Method and Written Down Method
8. Comparative Analysis
9. Methods of Recording Depreciation
10. Disposal of Asset
11. Effect of any Addition or Extension to the Existing Asset
12. Provisions
13. Reserves
14. Secret Reserve

Chapter 8 – Bill of Exchange Accountancy Class 11 Notes

1. Meaning of Bill of Exchange
2. Promissory Note
3. Advantages of Bill of Exchange
4. Maturity of Bill – Calculating Due date of Bill of Exchange
5. Discounting of Bill
6. Endorsement of Bill
7. Accounting Treatment
8. Dishonor of a Bill
9. Renewal of the Bill
10. Retiring of the Bill

Practice questions on Bills of Exchange

Financial Statements of Sole Proprietor