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CBSE Class 11 Business Studies Notes
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Accountancy

Last Updated : 21 Apr, 2025
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Accountancy is the process of measuring, processing and recording an organization’s financial and non-financial statements. It has a wider scope than Accounting as it is the route to the Accounting process. Accountancy is responsible for prescribing the accounting conventions, principles, and techniques to be followed by an organization during the accounting process. The nature of Accounting is dynamic and analytical and hence, requires special abilities and skills in an individual to interpret the information better and effectively. 

Accountancy

Table of Content

  • Introduction to Accounting
  • Theory Base of Accounting
  • Recording of Business Transactions
  • Bank Reconciliation Statement
  • Depreciation, Provisions, and Reserves
  • Trial Balance and Rectification of Errors
  • Bills of Exchange
  • Financial Statements
  • Accounting for Partnership: Basic Concepts
  • Reconstitution of a Partnership Firm: Change in Profit Sharing Ratio
  • Reconstitution of a Partnership Firm: Admission of a Partner
  • Reconstitution of a Partnership Firm: Retirement or Death of a Partner
  • Dissolution of Partnership Firm
  • Accounting for Share Capital
  • Issue and Redemption of Debentures
  • Financial Statements of a Company
  • Analysis of Financial Statements
  • Accounting Ratios
  • Cash Flow Statement
  • Overview of Computerised Accounting System
  • Using Computerised Accounting System
  • CBSE Class 12 Previous Year Papers
  • Accounting for Non-for-Profit Organization (Not in Current CBSE Syllabus for 2024-2025)
  • Accountancy Notes for CBSE Class 11th
  • Accountancy Notes for CBSE Class 12th

Introduction to Accounting

  1. Introduction to Accounting
  2. Types and Users of Accounting Information
  3. Difference between Bookkeeping and Accounting
  4. Accounting: Objectives, Characteristics, Advantages, Disadvantages and Role of Accounting
  5. Basic Accounting Terms
  6. Difference between Accounting and Accountancy

Theory Base of Accounting

  1. Accounting Standards: Need, Benefits, Limitations and Applicability
  2. IFRS (International Financial Reporting Standards) and GAAP (Generally Accepted Accounting Principles)
  3. Difference between Cash Basis and Accrual Basis of Accounting
  4. Basic Accounting Concepts
  5. Business Entity Concept
  6. Money Measurement Concept
  7. Going Concern Concept
  8. Accounting Period Concept
  9. Cost Concept of Accounting
  10. Dual Concept of Accounting
  11. Revenue Recognition Concept
  12. Full Disclosure Concept
  13. Consistency Concept
  14. Conservatism Concept
  15. Objectivity Concept
  16. Systems and Basis of Accounting | Single and Double Entry System

Recording of Business Transactions

  1. What is an Accounting Voucher? Explain the Types of Vouchers
  2. Introduction to Accounting Equation
  3. Accounting Equation | Increase in Assets and Capitals both and Increase in Assets and Liability both
  4. Accounting Equation | Decrease in Assets and Capital both and Decrease in Asset and Liability both
  5. Accounting Equation|Decrease in Capital and Increase in the Liability, Decrease in Liability and Increase in the Capital and Increase and Decrease in Assets
  6. Accounting Equation|Sale of Goods and Calculation of Net Worth (Owner’s Equity) Or Capital
  7. Journal Entries
  8. Rules of Journal Entry
  9. Journal Entry (Capital, Drawings, Expenses, Income & Goods)
  10. Journal Entry for Capital
  11. Journal Entry for Drawings
  12. Journal Entry for Paid Expenses
  13. Journal Entry for Income
  14. Journal Entry for Sales and Purchase of Goods
  15. Journal Entry for Cash and Credit Transactions
  16. Journal Entries | Banking Transactions (Part-1)
  17. Journal Entries | Banking Transactions (Part-2)
  18. Journal Entry for Assets
  19. Journal Entry for Depreciation
  20. Journal Entry for Discount Allowed and Received
  21. Journal Entry for Full/Final Settlement
  22. What is a Compound Journal Entry ?
  23. Opening Journal Entry
  24. Journal Entry for Bad Debts and Bad Debts Recovered
  25. Journal Entry for Loss of Insured Goods/Assets
  26. Journal Entry for Loan Taken
  27. Journal Entry for Loan Given
  28. Journal Entry for Outstanding Expenses
  29. Journal Entry for Prepaid or Unexpired or Advance Expenses
  30. Journal Entry for Accrued Income or Income Due
  31. Journal Entry for Income Received in Advance or Unearned Income
  32. Journal Entry for Income Tax
  33. Journal Entry for Life Insurance Premium & Employee’s Life Insurance Premium
  34. Journal Entry for Interest on Capital
  35. Journal Entry for Interest on Drawings
  36. Journal Entry for Use of Goods in Business
  37. Journal Entry for Expenditure on Assets (Erection or Installation)
  38. Journal Entry for Expenses on Purchase of Goods
  39. Journal Entries under GST (Goods and Services Tax)
  40. Cash Book: Meaning, Types. and Example
  41. Purchases Book: Meaning, Format, and Example
  42. Sales Book: Meaning, Format and Example
  43. Purchase Return Book: Meaning, Format, and Example
  44. Sales Return Book: Meaning, Format, and Example
  45. Journal Proper: Meaning, Format and Examples
  46. Ledger | Meaning, Format, Example and Balancing of Accounts

Bank Reconciliation Statement

  1. Bank Reconciliation Statement
  2. Difference between Bank Statement and Bank Reconciliation Statement
  3. Preparation of BRS without correcting Cash Book
  4. Bank Reconciliation Statement (BRS) : Without Correcting Cash Book
  5. Preparation of Bank Reconciliation Statement with Amended Cash Book
  6. Bank Reconciliation Statement (BRS): When Extracts from Cash Book and Pass Book are given

Depreciation, Provisions, and Reserves

  1. Depreciation: Features, Causes, Factors and Need
  2. Methods of charging Depreciation
  3. Straight Line Method of Charging Depreciation
  4. Written Down Value Method
  5. Difference between Straight Line and Written Down Value Method of calculating Depreciation
  6. Difference between Depreciation and Amortization
  7. Provisions in Accounting – Meaning, Accounting Treatment, and Example
  8. Reserves in Accounting: Meaning, Accounting Treatment, Importance, and Example
  9. Reserves and its Types
  10. Difference between Capital Reserve and Revenue Reserve

Trial Balance and Rectification of Errors

  1. Trial Balance: Meaning, Objectives, Preparation, Format, and Example
  2. Types of Errors in Trial Balance
  3. Detection and Rectification of Errors in Trial Balance
  4. What is a Suspense Account?

Bills of Exchange

  1. Bills of Exchange: Meaning, Features, Parties, and Advantages
  2. Promissory Note: Features and Parties
  3. Difference between Bills of Exchange and Promissory Note
  4. Important Terms in Bills of Exchange
  5. Accounting Treatment of Bills of Exchange

Financial Statements

  1. Introduction to Financial Statements
  2. Financial Statements with Adjustments
  3. Financial Statements with Adjustments (Journal Entries)
  4. Financial Statement with Adjustment with Examples-I
  5. Adjustment of Closing Stock in Final Accounts (Financial Statements)
  6. Adjustment of Outstanding Expenses in Final Accounts (Financial Statements)
  7. Adjustment of Prepaid Expenses in Final Accounts (Financial Statements)
  8. Adjustment of Accrued Income in Final Accounts (Financial Statements)
  9. Adjustment of Unearned Income in Final Accounts (Financial Statements)
  10. Financial Statement with Adjustment with Examples-II
  11. Adjustment of Interest on Capital in Final Accounts (Financial Statements)
  12. Adjustment of Interest on Drawings in Final Accounts (Financial Statements)
  13. Adjustment of Interest on Loan in Final Accounts (Financial Statements)
  14. Adjustment of Proprietor’s Salary in Final Accounts (Financial Statements)
  15. Adjustment of Interest on Deposits in Final Accounts (Financial Statements)
  16. Financial Statement with Adjustment with Examples-III
  17. Adjustment of Depreciation in Final Accounts (Financial Statements)
  18. Adjustment of Appreciation in Final Accounts (Financial Statements)
  19. Adjustment of Bad Debts in Final Accounts (Financial Statements)
  20. Adjustment of Provision for Bad and Doubtful Debts in Final Accounts (Financial Statements)
  21. Adjustment of Bad Debts Recovered in Final Accounts (Financial Statements)
  22. Financial Statement with Adjustment with Examples – IV
  23. Adjustment of Provision for Discount on Debtors in Final Accounts (Financial Statements)
  24. Adjustment of Provision for Discount on Creditors in Final Accounts (Financial Statements)
  25. Financial Statement with Adjustment-Loss of Insured Goods & Assets (All three cases)
  26. Adjustment of Goods given as Charity or Free Sample in Final Accounts (Financial Statements)
  27. Adjustment of Goods used for Personal Purpose in Final Accounts (Financial Statements)
  28. Financial Statement with Adjustment with Examples-V
  29. Adjustment of Use of Goods in Business in Final Accounts (Financial Statements)
  30. Adjustment of Manager’s Commission in Final Accounts (Financial Statements)
  31. Adjustment of Deferred Revenue Expenditure in Final Accounts (Financial Statements)
  32. Financial Statement with Adjustment-Loss of Insured Goods & Assets (All three cases)
  33. Stakeholders and their Information Requirements
  34. Capital Expenditure | Meaning, Example and Accounting Treatment
  35. Revenue Expenditure | Meaning, Types, Example and Accounting Treatment
  36. Capital Receipts | Meaning, Types, Components, and Accounting Treatment
  37. Revenue Receipts | Meaning, Features, Example and Accounting Treatment
  38. Difference between Capital Expenditure and Revenue Expenditure in Accountancy
  39. Difference between Capital Receipts and Revenue Receipts in Accountancy
  40. Trading and Profit and Loss Account: Opening Journal Entries
  41. Operating Profit (EBIT): Meaning, Formula and Example

Accounting for Partnership: Basic Concepts

  1. Introduction to Accounting for Partnership
  2. Partnership Deed and Provisions of the Indian Partnership Act 1932 
  3. Difference between Limited Liability Partnership and Partnership Firm
  4. Accounting Treatment for Interest on Partner's Capital
  5. Interest on Drawing in case of Partnership
  6. Accounting Treatment of Partner's Loan, Rent Paid to a Partner, Commission Payable to a Partner, Manager's Commission on Net Profit
  7. Introduction to Profit and Loss Appropriation Account
  8. Difference between Profit and Loss Account And Profit and Loss Appropriation Account
  9. Capital Accounts of the Partner: Fixed Capital Method
  10. Capital Accounts of the Partner: Fluctuating Capital Method
  11. Difference between Fixed Capital Account and Fluctuating Capital Account 
  12. Past Adjustments in Partnership
  13. Guarantee of Minimum Profit to a Partner  

Reconstitution of a Partnership Firm: Change in Profit Sharing Ratio

  1. Reconstitution of a Partnership Firm : Reasons and Change in Profit Sharing Ratio
  2. Goodwill: Meaning, Factors Affecting Goodwill and Need for Valuation
  3. Methods of Valuation of Goodwill 
  4. Average Profit Method of Calculating Goodwill
  5. Super Profit Method of Calculating Goodwill
  6. Capitalisation Method of Calculating Goodwill
  7. Accounting Treatment of Accumulated Profits and Reserves: Change in Profit Sharing Ratio
  8. Change in Profit Sharing Ratio: Accounting Treatment of Investment Fluctuation Fund
  9. Accounting Treatment of Revaluation of Assets and Liabilities: Change in Profit Sharing Ratio
  10. Accounting Treatment of Partner’s Capital Account in case of change in Profit Sharing Ratio (Fixed Capital)
  11. Accounting Treatment of Partner’s Capital Account in case of change in Profit Sharing Ratio (Fluctuating Capital)
  12. Adjustment in Existing Partner’s Capital Account in case of Change in Profit Sharing Ratio

Reconstitution of a Partnership Firm: Admission of a Partner

  1. Reconstitution of a Partnership Firm: Admission of a Partner 
  2. Computation of New Profit Sharing Ratio: Admission of a Partner
  3. Computation of Sacrificing Ratio in case of Admission of a Partner
  4. Accounting Treatment of Goodwill in case of Admission of a Partner
  5. Hidden Goodwill: Admission of a Partner
  6. Accounting Treatment of Revaluation of Assets and Liabilities in case of Admission of a Partner 
  7. Accounting Treatment of Accumulated Profits and Reserves in case of Admission of a Partner  
  8. Accounting Treatment of Workmen Compensation Reserve: Admission of a Partner
  9. Accounting Treatment of Investment Fluctuation Fund in case of Admission of a Partner
  10. Accounting Treatment of Partner's Capital Account: Admission of a Partner (Fixed Capital)
  11. Accounting Treatment of Partner's Capital Account: Admission of a Partner (Fluctuating Capital)
  12. Preparation of Revaluation Account, Capital Account and Balance Sheet 
  13. Adjustment of Partner's Capital Account: Admission of a Partner

Reconstitution of a Partnership Firm: Retirement or Death of a Partner

  1. Retirement of a Partner in case of Reconstitution of a Partnership Firm 
  2. Computation of New Profit Sharing Ratio: Retirement of a Partner
  3. Calculation of Gaining Ratio: Retirement of a Partner
  4. Difference between Sacrificing Ratio and Gaining Ratio 
  5. Accounting Treatment of Goodwill in case of Retirement of a Partner
  6. Hidden Goodwill in case of Retirement of a Partner
  7. Accounting Treatment of Revaluation of Assets and Liabilities in case of Retirement of a Partner
  8. Accounting Treatment of Accumulated Profits and Reserves in case of Retirement of a Partner
  9. Accounting Treatment of Workmen Compensation Reserve in case of Retirement of a Partner
  10. Accounting Treatment of Investment Fluctuation Fund in case of Retirement of a Partner 
  11. Accounting Treatment of Partner’s Capital Account in case of Retirement of a Partner (Fixed Capital)
  12. Accounting Treatment of Partner’s Capital Account in case of Retirement of a Partner (Fluctuating Capital)
  13. Settlement of Amount due to a Retiring Partner when Full Amount is Paid
  14. Settlement of Amount due to a Retiring Partner: Amount Paid in Instalment
  15. Settlement of Amount due to a Retiring Partner: Transferred to Loan Account
  16. Adjustment of Capital Account in case of Retirement of a Partner
  17. Reconstitution of a Partnership Firm in case of Death of a Partner
  18. Calculation of Share of Profit up to the Date of Death of a Partner
  19. Adjustment of Interest on Deceased Partner's Capital, Deceased Partner's Share in Goodwill and Accumulated Profits and Reserves
  20. Accounting Treatment of Revaluation of Assets and Liabilities in case of Death of a Partner
  21. Accounting Treatment of Accumulated Profits and Reserves in case of Death of a Partner
  22. Accounting Treatment of Workmen Compensation Reserve in case of Death of a Partner
  23. Accounting Treatment of Investment Fluctuation Fund in case of Death of a Partner
  24. Accounting Treatment of Partner’s Capital Account in case of Death of a Partner (Fixed Capital)
  25. Accounting Treatment of Partner’s Capital Account in case of Death of a Partner (Fluctuating Capital)
  26. Accounting Treatment of Amount Due to Deceased Partner
  27. Accounting Treatment of Joint Life Policy in case of Death of a Partner
  28. Accounting Treatment of Individual Life Policy in case of Death of a Partner

Dissolution of Partnership Firm

  1. Difference between Dissolution of Firm and Dissolution of Partnership 
  2. Difference between Firm's Debt and Private Debt 
  3. Difference between Realisation Account and Revaluation Account
  4. Accounting treatment of Accumulated Profits, Reserves, and Losses in case of Dissolution of Firm
  5. Dissolution of Firm: Partner's Capital Account
  6. Dissolution of Partnership Firm: Meaning and Example
  7. Accounting Treatment of Goodwill in case of Dissolution of Firm
  8. Accounting Treatment of Joint Life Policy in case of Dissolution of a Firm
  9. Accounting Treatment of Contingent Assets and Contingent Liabilities in case of Dissolution of a firm

Accounting for Share Capital

  1. Company and its Types  
  2. Types of Shares
  3. Difference between Preference Shares and Equity Shares 
  4. Share Capital: Meaning, Kinds, and Presentation of Share Capital in Company’s Balance Sheet
  5. Difference between Capital Reserve and Reserve Capital
  6. Accounting for Share Capital: Issues of Shares for Cash
  7. Issue of Shares At Par: Accounting Entries
  8. Issue of Shares at Premium: Accounting Entries
  9. Issue of Share for Consideration other than Cash: Accounting for Share Capital
  10. Issue of Shares: Accounting Entries on Full Subscription with Share Application
  11. Calls in Arrear: Accounting Entries on Issue of Shares
  12. Calls in Advance: Accounting Entries on Issue of Shares
  13. Oversubscription of Shares: Accounting Treatment
  14. Oversubscription of Shares: Pro-rata Allotment
  15. Oversubscription of Shares: Pro-rata Allotment with Calls in Arrear
  16. Forfeiture of Shares: Accounting Entries on Issue of Shares
  17. Accounting Entries on Re-issue of Forfeited Shares
  18. Disclosure of Share Capital in the Balance Sheet: Accounting Entries on Issue of Shares

Issue and Redemption of Debentures

  1. Issue of Debentures: Meaning, Characteristics, Purpose of Issuing Debentures and Example
  2. Types of Debentures 
  3. Difference between Shares and Debentures 
  4. Issue of Debentures: Accounting Treatment of Issue of Debenture and Presentation of debentures in balance sheet (with format)
  5. Issue of Debenture at Par and Premium
  6. Issue of Debentures for Consideration other than Cash 
  7. Issue of Debenture as Collateral Security
  8. Interest on Debentures
  9. Redemption of Debentures
  10. Redemption of Debentures: Meaning, Sources and Rules regarding Redemption
  11. Redemption of Debentures in case of Lump-Sum
  12. Redemption of Debentures in case of Installment
  13. Redemption of Debentures in case of Purchase of Own Debentures

Financial Statements of a Company

  1. Introduction to Financial Statement
  2. Objectives and Characteristics of Financial Statements
  3. Financial Statement of a Company: Balance Sheet
  4. Profit and Loss Account: Meaning, Format and General instructions for preparation of Profit and Loss Account

Analysis of Financial Statements

  1. Introduction to Financial Analysis 
  2. Financial Analysis: Objective, Methods, and Process 
  3. Financial Analysis: Need, Types, and Limitations
  4. Comparative Statement: Meaning, Importance and Techniques of Presenting Financial Statements
  5. Comparative Balance Sheet: Objectives, Advantages and Format of Comparative Balance Sheet
  6. Comparative Income Statement: Objectives, Advantages and Preparation and Format of Comparative Income Statement
  7. Common Size Income Statement: Objectives, Preparation, Format of Common Size Statement
  8. Common Size Balance Sheet: Meaning, Objectives and Format of Common Size Balance Sheet

Accounting Ratios

  1. Ratio Analysis- Importance, Advantages and Limitations
  2. Types of Accounting Ratios 
  3. Liquidity Ratio: Meaning, Types, Formula and Illustrations
  4. Current Ratio: Meaning, Significance and Examples
  5. Liquid/Quick Ratio: Meaning, Formula, Significance and Examples
  6. Debt-Equity Ratio: Meaning, Formula, Significance and Examples
  7. Total Assets to Debt Ratio: Meaning, Formula and Examples
  8. Proprietary Ratio: Meaning, Formula, Significance and Examples
  9. Interest Coverage Ratio | Meaning, Formula, Calculation and Examples
  10. Activity Ratio: Meaning, Formula and Significance
  11. Trade Receivables Turnover Ratio: Meaning, Formula, Significance and Illustration
  12. Trade Payable Turnover Ratio: Meaning, Formula, Significance and Examples 
  13. Working Capital Turnover Ratio: Meaning, Formula, Significance and Examples
  14. Profitability Ratio or Income Ratio: Meaning, Formula and Significance
  15. Overall Profitability Ratio: Meaning, Formula, Significance, and Examples
  16. Gross Profit Ratio: Meaning, Formula, Significance and Examples
  17. Operating Ratio | Formula and Examples
  18. Operating Profit Ratio: Meaning, Formula, Significance and Examples
  19. Net Profit Ratio 
  20. Return on Investment (ROI): Meaning, Formula, Significance and Illustrations
  21. Ratio Analysis Formula

Cash Flow Statement

  1. What is a Cash Flow Statement? 
  2. Cash Flow Statement: Objectives, Importance and Limitations
  3. Classification of Business Activities in Cash Flow: Operating, Investing and Financing Activities
  4. Cash Flow from Operating Activities
  5. Treatment of Special Items in Cash Flow Statement
  6. Treatment of Special Items in Cash Flow Statement-II 
  7. Examples of Cash Flow from Operating Activities
  8. Cash Flow from Investing Activities
  9. Cash Flow from Financing Activities
  10. Cash Flow Statement: Two Examples

Overview of Computerised Accounting System

  1. Sourcing of Accounting Software 
  2. Computerised Accounting System
  3. Computerized Accounting System – Meaning, Features, Advantages and Disadvantages
  4. Difference between Manual and Computerised Accounting 
  5. Difference between Management Information System (MIS) and Accounting Information System (AIS)
  6. Evolution and Features of Computerised Accounting
  7. Computer and its Components

Using Computerised Accounting System

  1. Steps in the installation of CAS, codification and Hierarchy of account heads, creation of accounts
  2. Data: Entry, Validation and Verification
  3. Adjusting Entries, Preparation of Balance Sheet, Profit and Loss Account with Opening and Closing Entries
  4. Need and Security features of the system

CBSE Class 12 Previous Year Papers

  • CBSE Class 12 Accountancy Solved Question Paper (Paper Code: 67/1/1, 2020)
  • CBSE Class 12 Accountancy Solved Question Paper (Paper Code: 67/1/2, 2020)
  • CBSE Class 12 Accountancy Solved Question Paper (Paper Code: 67/1/3, 2020)
  • CBSE Class 12 Accountancy Solved Question (Paper-67/2/1-2020)
  • CBSE Class 12 Accountancy Solved Question Paper-67/2/2
  • CBSE Class 12 Accountancy Solved Question Paper (Paper Code: 67/2/3, 2020)
  • CBSE Class 12 Accountancy Solved Question Paper (67/4/1, 2020)

Accounting for Non-for-Profit Organization (Not in Current CBSE Syllabus for 2024-2025)

  1. Not-for-Profit Organisations- Features and Financial Statements
  2. Difference Between Not for Profit Organisation and Profit Earning Organisation
  3. Income and Expenditure Account of a Not for Profit Organisation
  4. Difference between Receipt and Payment Account And Income and Expenditure Account
  5. Balance Sheet for Not for Profit Organisation
  6. Accounting Treatment of Subscriptions and Expenses
  7. Accounting Treatment of Consumable Items: Stationery and Sports Material
  8. Accounting Treatment: Admission or Entrance Fees, Donation and Legacies, Grants from Government, Sale of Fixed Assets, Life Membership Fees
  9. Fund based Accounting
  10. Receipt and Payment Account for Not for Profit Organisation  
  11. Income & Expenditure Account: Accounting Treatment
  12. Balance Sheet for Not for Profit Organisation 
  13. Practical Questions on Balance sheet for Not for Profit Organisation
  14. Practical Questions on Receipt & Payment Account

Accountancy Notes for CBSE Class 11th

The notes contain 11 chapters covering every important topic, like Bills of Exchange, GAAP, Financial Statements, Journal, Ledger, Reserves, Depreciation, Bank Reconciliation Statement, Trial Balance, and many more. These notes are enough for learning basic and crucial knowledge about accountancy from scratch.

Accountancy Notes for CBSE Class 12th

The notes contain 12 chapters covering every important topic like Accounting for Non-for-Profit Organisation, Partnership, Admission of a Partner, Retirement of a Partner, Issue of Shares, Issue of Debentures, Financial Statements of a Company, Cash Flow Statement, Computerised Accounting of a Company and so on.



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