ISC Class 11 Accounts Syllabus
Accounting is an interesting and a highly specialised subject to study. Accounting makes you skilled in keeping track of the daily flow of money in and out of business and keeping an eye on the balance, which can be applied to many industries. Students may refer to ISC Class 11 Accounts syllabus while studying and preparing for their examination.
The ISC Class 11 Accounts syllabus is prepared as per ISC guidelines. The chapters included in the syllabus will help the students better understand the basics of account subjects in a better way. They will find every concept they will be learning in the subject, in addition to a detailed ISC class 11 Accounts syllabus on Extramarks.
Students may register on Extramarks to access ISC class 11 Accounts syllabus and ISC books for class 11 any time they need them. In addition to the syllabus, students may also refer to ICSE sample question papers, solutions, ICSE revision notes, and ICSE important questions for the Accounts subject. Students may also study and compare the ISC & ICSE syllabus on Extramarks.
ISC Class 11 Accounts Syllabus 2023-24 – Semester (1 & 2)
The ISC Class 11 Accounts syllabus is divided into two semesters. The chapters are mentioned in the table below.
| Chapter |
Topic |
| 1 |
Basic Accounting Concepts |
| 2 |
Ledger, Journal and Trial Balance |
| 3 |
Bank Reconciliation Statement |
| 4 |
Depreciation, Provisions and Reserves |
| 5 |
Bills of Exchange |
| 6 |
Concept of Trading and Final Accounts, Profit and Loss account and Balance Sheet, Marshalling of Balance Sheet |
| 7 |
Accounts of incomplete records |
| 8 |
Non-Trading Organisation |
| 9 |
Rectification of Errors |
| 10 |
Establishment of Computers usage in Accounting |
Students may click on the respective chapters of the ISC Class 11 Accounts syllabus in the table above to access the study materials. Extramarks offers various study materials such as ICSE solutions, sample question papers, revision notes, important questions and more. Students may register on the website to refer to these study materials.
A detailed ISC Class 11 Accounts syllabus of the semesters combined is as below.
- Basic Accounting Concepts
- Introduction of accountancy and accounting: Understanding and knowledge of International Financial Reporting Standards(IFRS);
- Generally Accepted Accounting Principles(GAAP)
- Basic terms used in accounting, Accounting Standards and Accounting equations.
- Ledger, Journal and Trial Balance
(i) Journal: journal entry recording (with narration).
(ii) Ledger: Transferring recorded business events from journal to respective ledgers.
(iii) Journal subdivisions
- Cashbook (including simple cash book and double column cash book)
- Petty cash book (including analytical, simple and imprest system)
- Sales daybook, purchases daybook, sales return daybook;
- Purchases return daybook, bills payable book, bills receivable book and proper journal.
(iv) Trial balance
- Bank Reconciliation Statement
(i) interpretation and need for a reconciliation statement of the bank.
(ii) Preparation of a reconciliation statement of the bank from the given cash book balance or passbook balance, or both.
(iii) Preparation of a reconciliation statement of the bank from the cash extract book as well as the passbook in relation to the same month.
(iv) Making of a bank reconciliation statement
and an amended cash book from the provided cash book balance
(v) Making of a bank reconciliation statement and an amended cash book from the extract of the passbook and cash book in relation to the same month.
- Depreciation, Provisions and Reserves
(i) Depreciation
(ii) Procedure of charging depreciation (Straight Line as well as Written Down Value method).
(iii) Problems relating to sales and purchase of assets, application incorporation of depreciation under the two provided procedures.
- Bills of Exchange
(i) Background to Negotiable Instruments: description of basic terms.
(ii) Practical problems related to above in the books of drawer and drawee, endorsee and bank.
- Concept of Trading and Final Accounts, Profit and Loss account and Balance Sheet (with and without adjustments), Marshalling of Balance Sheet
(i) Capital and revenue income/expenditure
(ii) Reserves and Provision.
(iii) Profit and Loss, Trading Balance Sheet and Account of a sole trader, (Horizontal Format) with no adjustments.
(iv) Making of Profit and Loss Account, Trading Account, and Balance Sheet with useful adjustments.
(v) Marshalling of a Balance Sheet: Order of liquidity and Order of performance.
- Accounts of incomplete records
(i) Single entry as well as dissimilarity with double entry.
(ii) Ascertainment of profit/loss with the help of statement of affairs procedure with the application.
(iii) Making a double entry from a single entry.
- Non-Trading Organisation
(i) Non-trading organisation: objectives, meaning, necessity and treatment of specific things.
(ii) Different books which are maintained and dissimilarity among them.
(iii) Method of preparation of Expenditure and Income Account as well as Closing Balance Sheet.
- Rectification of Errors
Errors and types of errors: errors of commission; errors of omission; errors of principle, and compensating errors.
- Establishment of Computers usage in Accounting
(i) Background of Computerised Accounting System
- Parts of CAS, Features, Account Grouping
- Limitations and advantages of CAS, Accounting Information System.
(ii) Application of computers in Accounting (Theory only)
- Accounting process Automation
- Accounting reports designing(MIS reports)
- Chart of accounts – Income/ Assets/capital/ expenses/ liabilities/ supplier masters and customer
- Kinds of transaction: bank, cash, purchase, sale, journal vouchers;
- General ledger/trial balance, balance sheet, data exchange profit and loss, and other information systems.
(iii) Comparison of manual and computerised accounting.
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ISC Class 11 Accounts Syllabus Paper Pattern
The ISC Class 11 Accounts syllabus paper pattern is 100 marks, which is divided between two papers, Paper I and Paper II.
- Paper I: Theory with 80 marks
- Paper II: project work with 20 marks.
Paper I: Students will write an Accounts paper of 3 hours duration which comprises 80 marks divided into two parts:
- Part I (20 marks) is compulsory, which comprises short answer questions, testing knowledge, application and skills relating to fundamental/elementary aspects of the whole syllabus.
- In part II (60 marks), students are required to answer five questions out of eight from this section. Each question carries 12 marks.
Paper II: The project work comprises 20 marks. The student will have to prepare a project on one topic, which is covered in theory.