Accountancy Class 11 Term-II Syllabus

The syllabus consists of three units: (ii) Accounting Process (iii) Financial Statements of Sole Proprietorship (iv) Computers in Accounting.

Exam Structure

Units   Marks 
Part A Financial Accounting - I  
2. Accounting Process 12
  Accounting for Bills of Exchange  
  Trial Balance and Rectification of Records  
Part B Financial Accounting - II  
3. Financial Statements of Sole Proprietorship 20
4. Computers in Accounting 8
  Total 40

Accounting for Bills of Exchange

  • Bills of exchange and promissory note: Definition, Specimen, Features, Parties
  • Difference between Bill of Exchange and Promissory Note
  • Terms in Bill of Exchange:
    1. Term of Bill
    2. Accommodation bill (concept)
    3. Days of Grace
    4. Date of maturity
    5. Discounting of bill
    6. Endorsement of bill
    7. Bill after due date
    8. Negotiation
    9. Bill sent for collection
    10. Dishonour of bill
  • Accounting Treatment

Trial balance and Rectification of Errors

  • Trial balance: objectives and preparation
  • Errors: types - errors of omission, commission, principles, and compensating; their effect on Trial Balance.
  • Detection and rectification of errors; preparation of suspense account.

Part B: Financial Accounting - II

Unit 3: Financial Statements of Sole Proprietorship

Financial Statements

Meaning, objectives and importance; Revenue and Capital Receipts; Revenue and Capital Expenditure; Deferred Revenue expenditure.

Trading and Profit and Loss Account: Gross Profit, Operating profit and Net profit. Preparation.

Balance Sheet: need, grouping and marshalling of assets and liabilities. Preparation.

Adjustments in preparation of financial statements with respect to closing stock, outstanding expenses, prepaid expenses, accrued income, income received in advance, depreciation, bad debts, provision for doubtful debts, provision for discount on debtors, Abnormal loss, goods taken for personal use/staff welfare, interest on capital and managers commission.

Preparation of Trading and Profit and Loss account and Balance Sheet of a sole proprietorship with adjustments.

Incomplete Records

Features, reasons and limitations. Ascertainment of Profit/Loss by Statement of Affairs method.

Unit 4: Computers in Accounting

  • Introduction to Computer and Accounting Information System {AIS}: Introduction to computers (Elements, Capabilities, Limitations of Computer system)


  1. The scope of the unit is to understand accounting as an information system for the generation of accounting information and preparation of accounting reports.
  2. It is presumed that the working knowledge of any appropriate accounting software will be given to the students to help them learn basic accounting operations on computers.
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