ISC Class 11th Accounts Syllabus 2024-25: Download Revised PDF for ISC Class 11 Accounts

The ISC Class 11 Accounts syllabus 2024-25 has been released by the ISC Board. Students can directly access the Class 11 Accounts syllabus in this article. Students can check and download their ISC Class 11 Accounts revised syllabus and complete curriculum here. Accounts, Subject Code: 858, is one of the most major subjects in ISC Class 11th for the Commerce stream candidates. The curriculum is designed to cover a wide range of significant theoretical subjects and their real-world applications. The ISC class 11 Accounts paper for 2024-25 is divided into two: theory and project work. The theory paper, carrying 80 marks, is divided into three sections A, B and C. Students will have three hours to solve the paper. The Project Work will carry 20 marks. The curriculum is designed to help students comprehend the fundamentals. Check the complete syllabus below:

ISC Board Class 11 Accounts Syllabus

PAPER - 1  (THEORY) – 80 Marks

Introduction to Accounting

Background of accounting and accountancy; types of accounts; basic terms used in accounting, and Accounting Equation.

• Evolution of accounting: The three phases.
• Basic Terms: Event, Transaction, Vouchers, Capital, Assets (intangible, tangible, fixed, current, liquid, wasting and fictitious), Liabilities (internal and external – current, long-term and contingent), Trade Debtors, Trade Creditors, Purchases, Sales, Goods traded in, Stock (raw material, work in progress and finished goods), Profit, Loss, Expense, Revenue, Income and Drawings.
• Accounting equation: Meaning and usefulness.
• Meaning and definition of Book-keeping, Accounting and Accountancy; difference between book-keeping, accounting and accountancy; accounting cycle.
• Users of accounting information.
• Subfields of accounting: Meaning of financial accounting, cost accounting and management accounting.

NOTE: Practical problems in Accounting Equation are not required.

Journal, Ledger and Trial Balance

• Journal: recording of entries in journal with narration.

• Classification of Accounts- traditional classification or modern approach.
• Double Entry System.
• Rules of journalizing- traditional classification or modern approach.
• Meaning of journal; Advantages of using a journal.
• Format of journal.
• Simple and compound journal entries.
• Opening Journal entry.
• Journal Entries- Input CGST and Input SGST / Input IGST; Output CGST and Output SGST/ Output IGST) / Setting off Input GST against Output GST.

• Ledger: posting from journal to respective ledgers.

• Meaning of ledger.
• Format of a ledger.
• Mechanics of posting.
• Closing / Balancing of ledger accounts- expenses and revenues to be closed by transferring to Trading / P/L Account depending upon their direct/ indirect nature and balances of Assets, liabilities, and Capital to be carried down.
• Adjusting and closing journal entries.
• Sub-division of journal - cash book [including simple cash book and triple column cash book (cash, bank and discount) with - contra entry pertaining to receipt of cheque not deposited on the same day; adjustments pertaining to a definite cash balance to be maintained / overdraft facility to be availed at the end of the month. Petty cash book (including analytical and imprest system), sales day book, purchases day book, sales return day book, purchases return day book and Journal proper.

• Cash book [including simple cash book and triple column cash book (cash, bank and discount) with - contra entry pertaining to receipt of cheque not deposited on the same day; adjustments pertaining to a definite cash balance to be maintained / overdraft facility to be availed at the end of the period].

• Petty cash book (including analytical and imprest system).

• Sales day book, purchases day book- Simple (Date, Particulars, I. No, L.F, Details, Amount); Columnar (Date, Particulars, I. No, L.F, Details, Net Invoice, Goods, Carriage, GST-Input CGST and Input SGST / Output IGST; Output CGST and Output SGST / Output IGST- Amount or percentage given).

• Sales return day book, purchases return day book- Simple (Date, Particulars, Credit/ Debit Note No., L.F, Details, Amount.

• Journal proper.

• Mechanics of posting from special subsidiary books.

NOTE: Transactions with GST are excluded in Cash Book and Returns Books.

• Trial Balance.

• Meaning, objectives, advantages and limitations of a Trial Balance.

• Preparation of the Trial Balance by the balance method from the given ledger account balances.

Depreciation 

Depreciation, Methods of charging depreciation, Method of recording depreciation.

• Depreciation: meaning, need, causes, objectives and characteristics.
• Methods of charging depreciation: Straight Line and Written Down Value method; advantages, limitations of both the methods and differences between the two.
• Methods of recording depreciation: charging to asset account, creating provision for depreciation / accumulated depreciation.
• Problems relating to purchase and sale of assets (with or without asset disposal account) incorporating the application of depreciation under the two stated methods.

NOTE:  Questions on change of method from SLM to WDV and vice-versa are not required.

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PAPER 2: PROJECT WORK  -  20 marks 

Candidates will be expected to have completed two projects on any topic covered in Theory. Mark allocation for each Project [10 marks]:

Also Read:  ISC Class 11 Syllabus 2024-25 (All subjects)

Get a PDF download of the latest ISC Class 11 Accounts curriculum here. The article consists of class 11 syllabus weightage, course overview and Project work. Students can access the direct link to the PDF to download and  check the latest update regarding the ISC Class 11 Accounts syllabus.