NCERT Book for Class 11 Accountancy PDF

Class 11 Accountancy Book PDF

Students begin their preparations and efforts to get into the proper mindset to perform well on the final accountancy examinations; yet, this is not an easy goal for them to accomplish, given how difficult it is for them to take the initial step. Most students are stumped because they do not know how to study, and the most common problem they face is the question of “which book should you refer to for the greatest scores”. The correct response is always going to be NCERT. These are the books that CBSE highly recommends; they cover the syllabus in its entirety and include ideas and information that are more in-depth. If you want to score 95% or above on your final exams, you need to consult the NCERT accountancy book for Class 11 as soon as possible.

Download Accountancy Book Class 11 for NCERT

Even the vast majority of professors recommend using an NCERT book for class 11 accountancy because it adheres closely to the CBSE curriculum and places primary emphasis on the fundamentals of the subject. Additionally, the aid of the attached activities in reviewing the material and getting extensive practice with it. Students have the opportunity to develop their understanding even further by obtaining the PDF version of the NCERT Accountancy Book for Class 11. They can better understand difficult ideas across a wide range of topics from reading this book.

NCERT Class 11 Accountancy Book PDF Chapter Wise Solutions

You can get the solutions that we have curated for the books that you follow by clicking on the links that we have provided.

Summarising Class 11 Accounts NCERT Book

Accounting is an essential subject for students studying commerce in Class 11 since it teaches them how to correctly categorise, record, and summarise various financial transactions and operations. The NCERT book for Class 11 should provide a deeper knowledge as well as a full description of monetary transactions that occur in day-to-day life so that students may learn the fundamentals of accounting. In the future, they will have the ability to handle issues that are related to finances in a competent manner.

The Accountancy NCERT Book for Class 11 covers the fundamental and theoretical topics necessary to strengthen the subject’s underlying framework. It expands upon the fundamental ideas of tax, rebate, GAAP, GST, accounting system, fixed assets, liabilities, business transactions, special-purpose books, depreciation, and much more. Part 1 and Part 2 are the two distinct sections in the NCERT Accountancy book for Class 11.

Chapter-Wise Details of Class 11 Accountancy Book

There are thirteen chapters in this NCERT book on accounting. The first eight chapters of the book are included in the section of the book titled “Accountancy book part-1,” while chapters nine through thirteen are included in the section of the book titled “Accountancy book part-2.” The following are brief introductions to each of these lessons and their overall conclusions:

Chapter 1: Introduction to Accounting

This book’s first chapter introduces the fundamental ideas behind accounting, including its functions, characteristics, advantages, and disadvantages. It describes the function of accounting in various fields of endeavour and offers insights into the workings of the real world. Through the processes of classification, measurement, and generalisation, students will learn how to examine data flaws.

Chapter 2: Theory Base of Accounting

Every field, from physics to accounting, requires a clear theoretical foundation as the starting point for learning the fundamentals of the subject. The theoretical aspects of the topic, such as the subject’s concepts, principles, rules, regulations, and guidelines, are covered in the second chapter of the NCERT book for class 11 Accountancy. In addition to that, it provides specifics regarding the accounting standards that the ICAI has set. To ensure that all accounting procedures are treated in the same manner, it is necessary to comply with these standards.

Bookkeeping was established in the NCERT Accountancy book to provide students with the practical benefits necessary for their studies. After reading this chapter, students will be able to appreciate why a theoretical base of accounting is vital, learn the nature of generally accepted accounting principles (GAAP), and identify the aim of core accounting concepts.

Chapter 3: Recording of Transactions – 1

In contrast to the earlier chapters, which focused on providing an overview, this one delves deep into the specifics of the accounting procedure. First, one needs to determine the monetary dealings that must be documented, organise the source papers, and enter the transactions into the ledger’s accounts. The learner will better understand how to utilise accounting equations to clarify the impacts of transactions, record transactions utilising debit/credit rules, and more from reading this chapter. The basics of documenting transactions are explained in detail in the accountancy Class 11 NCERT PDF, making it easier for students to scrutinise the text. If you are a student, you can immediately and without charge download the PDF, and you can access our answers online.

Chapter 4: Recording of Transactions – II 

The use of a ledger to record a small firm’s transactions offers several advantages. Nevertheless, as it develops and increases in size, recording each transaction in journals may become more difficult. Large companies often use a variety of specialised journals, such as buy books, sales books, cashbooks, journals proper and purchasing returns, amongst others, when they are in this kind of circumstance. This chapter continues the one that came before it and illustrates how larger companies can accurately record the high amount of transactions they perform in specialised journals. For your convenience, the numerous examples have been tabulated and made available in the PDF document. This will make it much simpler to understand. You are welcome to study our NCERT Class 11 Accountancy PDF, which explains all of the key concepts in clearer and more succinct language. Students must rehearse the questions to achieve high marks on their accounting test numerous times.

Chapter 5: Bank Reconciliation Statement 

The Bank Reconciliation Statement chapter of the Accounting book is yet another crucial part of the whole text. It is vital to validate the same with the company’s bank transactions and keep track of bank transactions in a cash book as they occur. The significance of bank reconciliation statements and their absolute requirement are discussed in greater depth in the fifth chapter. When both the cash book and the passbook of an organisation are compared to one another, it is highly likely that the cash book will show a higher bank balance. Students are taught to understand why passbooks and cash books display such a wide variety of bank balances and use this knowledge. In addition, the book enhances their ability to determine the proper balance on time. If the textbook appears too difficult to read, you can try downloading other study tools, such as the Accountancy Class 11 NCERT PDF, to better grasp the topic.

Chapter 6: Trial Balance and Rectification of Errors 

This chapter was included in the accountancy textbook for Class 11 with the primary purpose of explaining the meaning of a trial balance sheet, as well as its significance and the procedure for creating one. The trial balance is nothing more than a tool that is utilised to verify how accurate the amounts shown on the balance sheet for debits and credits are. The totals technique, the balances method, and the totals-cum-balance methods are the three primary approaches that are utilised in its preparation.

Students will understand the goals of preparing a trial balance and the many sorts of errors, methods for finding those faults, and alternatives for correcting them during this session. It shows how to repair faults and inaccuracies by using a trial balance and how to correct them without suspending the account. The PDF version of the NCERT book for Class 11 Accountancy includes many examples that further illustrate the ideas and concepts of trial balancing and error rectification.

Chapter 7: Depreciation, Provisions and Reserves 

This chapter covers the topic of depreciation, as well as the concepts of depletion and amortisation, and how they differ from one another. Depreciation is the slow and permanent decrease in fixed asset value caused by the usage or wear and tear over time. This drop in value is represented as depreciation. The passage of time, the onset of obsolescence, the expiration of legal rights, and the presence of aberrant elements are the primary contributors to depreciation. This chapter provides in-depth explanations of several methods that can be utilised to arrive at an accurate estimate of depreciation costs. You will also understand the significance of provisions and reserves in commercial settings if you read this chapter of the NCERT Accountancy book for Class 11 and pay close attention to its whole. It also covers the many aspects of the distinctions between these two concepts, such as their goals, fundamental natures, effects on taxable earnings, how they are shown on the balance sheet, and so on.

Chapter 8: Bill of Exchange 

When merchants in India purchase products on credit, they are frequently assured that they will pay the bill on the due date through the use of credit instruments known as bills of exchange. These include a definitive instruction in writing to make the payment on the date that has been determined. This instrument and all of its varying characteristics are governed under the Negotiable Instruments Act of 1881. Students learn about the benefits, requirements, differentiating criteria, parties involved, and other aspects of bills of exchange in the eighth chapter of the textbook. In addition to that, it details promissory notes and the characteristics that characterise them according to the law. Students will learn how to record transactions of bills of exchange in journals by reading the Accountancy NCERT class 11 PDF, which provides detailed information on important variables. For faster comprehension, you might find it more helpful to look over the study materials that are available online rather than reading the complete textbook.

Chapter 9: Financial Statements – 1

From this point forward, students must follow the book for Part II. This chapter will guide you through the next level of accounting, which comes after journalizing, posting, and balancing the books. Some of the most important aspects of accounting, including financial statements, stakeholders, operational profit, the difference between capital and revenue, trade, profit and loss accounts, opening entries, and balance sheets, are discussed in this book. This class will teach you how to properly construct financial statements and familiarise you with the many categories of information that stakeholders want, the distinction between revenue and capital, and other topics. Our NCERT Accountancy book for Class 11 is available in PDF format, and it has an attractive layout that adheres to CBSE standards. This study material can be helpful for you if you want to achieve a score on your tests that are at least 90% or higher. It makes the difficult ideas of accounting much easier to understand.

Chapter 10: Financial Statements – II 

Most of the time, complicated accounting procedures are a normal part of many different corporate activities. It often occurs during the process of determining financial positions and incomes per an accounting method known as the accrual basis. The method considers revenue based on earnings to determine whether or not a business is profitable and expenses based on incurring. As a result, preparing the company’s financial accounts will require a significant amount of alterations to be made. The eleventh chapter of the book on accountancy that NCERT publishes provides additional information on those things that need to have their accounts adjusted, as well as the process to incorporate such modifications into the final accounts. Additionally, the idea of outstanding expenses, closing stock, bad debts, dubious debts, provisions for discounts on debts, and other related topics are covered in this section.

Chapter 11: Accounts from Incomplete Records 

This course covers an essential component of accounting: determining a company’s profits or losses using only partial records. Since many smaller enterprises do not use the double-entry system, the records of their financial transactions often end up being insufficient. Because of this, determining the profit and loss of such businesses takes a new set of methodologies and a higher level of skill. Inadequate records will be covered in this chapter, including their meaning, characteristics, and implementation of statement of affairs methods to compute profit/loss, as well as the preparation of balance sheets, trading, profit and loss accounts, and other related topics. This chapter teaches students how to construct accounts to detect missing information, data, or figures. It also prepares students to meet the obstacles that will be presented to them in the corporate world in the future. In our Class 11 Accountancy NCERT book in PDF format, you will find detailed information regarding the characteristics, reasons, preparation, and ascertainment procedures.

Chapter 12: Applications of Computers in Accounting 

Even in the realm of accounting, we have come a long way, having progressed from using human paperwork to implementing automation. There is no getting around the importance of computers and other forms of technology in the business sector. With the help of a computer, storing and processing large amounts of data is made easier and accomplished much more quickly. This section of the accounting book that your school uses goes through some of the fundamentals of utilising computers for accounting purposes. In addition to this, it provides a description of the many important MIS report and accounting information systems kinds. In addition, the class provides a rundown of this technology’s drawbacks to assist individuals in getting their judgement and deliberation abilities in order. Follow the straightforward instructions in the NCERT Accountancy book for Class 11 that are available online as a PDF. These instructions include computerised accounting. Students receive comprehensive and effective preparation for any future tests with the use of this resource.

Chapter 13: Computerised Accounting System 

The final section of the NCERT Accountancy Book for Class 11 is dedicated to in-depth discussions on computerised accounting systems. It discusses its fundamental characteristics, as well as its advantages, places of origin, and constraints. After completing this topic, you can distinguish between an automated and a manual accounting system.

The accounting framework and the operating process are the two most important components that should be present in a computerised accounting system. Important benefits that come with the system include reliability, speed, correctness, up-to-date information, scalability, and automated document production, amongst many more. This is the final chapter of the NCERT book on accountancy, and it contains information that will help you understand each of these ideas in greater depth.

Why should Class 11 CBSE Students refer to the NCERT Books?

NCERT books are highly recommended for board test preparation by the CBSE, mostly because these books extensively cover the fundamentals of each subject while adhering to the syllabus. The books include in-depth explanations of fundamental and more advanced ideas, allowing students to easily clarify any questions or concerns they may have. The following is a list of some additional advantages of studying the NCERT Accountancy book for class 11:

• The NCERT textbooks each provide a multitude of problem-solving exercises, which helps students in not only their test preparation but also aid in improving their overall skill set. At the very end of the chapter is a set of questions that are unique to them, and can be used for practice. After you have finished going through the entire lesson, go back and carefully complete the activities so that you are prepared to answer questions on tests of varying degrees of difficulty.
• Preparing for approaching examinations is a frantic process that may give the impression of never being enough. However, if you commit yourself to study from NCERT books methodically, you can easily cover the entirety of the curriculum. This saves you time by reducing the number of guidebooks you need to consult, relieves stress, and prepares you to achieve high marks.

Simply download the PDF version of our NCERT book for Class 11 Accountancy if you need to consult additional sources for additional studying. It includes the required topics from the course outline and the solutions from other applicable study materials.

• Reading large portions of material alone can be a tedious and uninteresting activity for students. Because of this, the books that CBSE recommends contain many tables and examples to facilitate efficient comprehension. If they read every portion of the book, students will have an easier time understanding difficult concepts.
• The fact that the majority of questions in CBSE examinations are drawn from NCERT publications is the primary benefit of this system. The NCERT books are the basis for creating the question papers accompanying them. Therefore, referring to your NCERT textbook will ensure that you receive the most possible grades with the least amount of work. You can get the extra assistance you need for your preparation with the help of our NCERT Class 11 Accountancy book in PDF format. You are welcome to chat with our subject matter experts online to further clarify any questions you may have.

Why is Extramarks Your Go-to Study Companion?

The NCERT textbook for Class 11 includes an in-depth analysis of accounting concepts ranging from the most fundamental to the most advanced. Extramarks present all of the information that is necessary for the curriculum in a format that is simple to understand. Students can get a free copy of our NCERT Class 11 accountancy book in PDF format by downloading it from our website. This study material covers the essential points and includes references from other relevant sources. These references help strengthen the notes, which in turn helps students achieve higher scores on the exam. Because specialists in the field were tasked with developing each of these learning resources, we are confident in saying that they are superior to anything else currently available.