Are you planning to choose commerce for you CBSE 11? Or have you already chosen the stream? Then understanding what is in the main subject is the primary task to finish first. Accountancy being the primary subject of commerce stream holds a strong position in determining your future in the finance sector. Therefore understanding the subject in detail is your chief task.
We are here with CBSE Class 11 Accountancy NCERT Solutions based on the latest 11th Accountancy Syllabus. It will help you get a better introduction to the subject. Accountancy is basically the base upon which every financial subject stands. Therefore when you choose commerce to complete your 12, having in-depth knowledge of the subject would offer you numerous future prospects after 12th boards.
CBSE Class 11 Accountancy NCERT Solutions
With having CBSE class 11 accountancy NCERT solutions in your hand, preparing the subject becomes easy. Additionally, it is one of the important subjects in the commerce stream. Therefore students must have thorough knowledge concerning every topic from accountancy.
Class 11 is the initial stage to learn and study the subject in detail. Once you get a clear idea regarding each term and topic, dealing with the subject in class 12 becomes pretty easy. Therefore to score well in your 12th boards you better start from now on. Download the easily available CBSE class 11 accountancy NCERT solutions pdf from here to start preparing from this very instant.
CBSE Class 11th Accountancy NCERT Solutions
Let us now look at the chapter that you will go through with this subject-
- Chapter 1- Introduction To Accounting
- Chapter 2- Theory Base Of Accounting
- Chapter 3- Recording Of Transaction -1
- Chapter 4- Recording Of Transaction-2
- Chapter 5-Bank Reconciliation System
- Chapter 6-Trail Balance And Rectification Of Errors
- Chapter 7-Depreciation, Provision and Reserves
- Chapter 8-Bills Of Exchange
- Chapter 9-Financial Statement-1
- Chapter 10-Financial Statement-2
- Chapter 11-Accounts Of Incomplete Records
- Chapter 12-Applications Of Computer Accounting
- Chapter 13-Computerised Accounting System
- Chapter 14- Structuring Database For Accounting
- Chapter 15-Accounting System Using Database Management System
CBSE Class 11 Accountancy Chapter Wise NCERT Solutions
The joint venture of NCERT and CBSE helps students with every subject set for the course. Besides offering simple language to understand, NCERT jots down every important point that a student requires to build their career.
CBSE Class 11 Accountancy Chapter 1 NCERT Solutions: Introduction To Accounting
The first chapter is basic to the subject. You get to understand the concept in brief before actually experiencing the complicated part in the latter part of the book. Things you will learn-
- Meaning and definition of accounting.
- Important economic events.
- Qualitative features of accounting information.
- Maintenance of transaction records in the business.
- Lastly role of accounting in one’s life.
CBSE Class 11 Accountancy Chapter 2 NCERT Solutions: Theory Base Of Accounting
The second chapters include all the theory furnished in due course of the time while nurturing the subject. Students will get to learn-
- GAAP( Generally Accepted Accounting Principle)
- Basic accounting concepts.
- Business entity concepts.
- Accounting period and cost concept.
- Revenue recognition, matching and full disclosure concept.
- Ending the chapter with conservatism, materiality and objectivity concept.
CBSE class 11 accountancy chapter 2 NCERT solutions offer each of the aspirants with illustrative guides to have a better understanding of they are reading in the chapter.
CBSE Class 11 Accountancy Chapter 3 NCERT Solutions: Recording Of Transaction -1
Students would get their first interaction with e whole idea of accountancy in this chapter. Topics covered are as follows-
- Business transaction and source documents.
- Preparing accounting vouchers.
- Accounting equation.
- Usage of debit and credit and rules of debit and credit.
- Book of original entry, journal, ledger, classification of ledger accounts and posting from the journal will be covered in this chapter.
CBSE 11th Accountancy NCERT Solutions Chapter 4: Recording Of Transaction-2
Once you learn the previous chapter thoroughly, you will get a better understandable grasp over this chapter. It is basically the continuation of the last chapter. Students will learn-
- Cashbook, single column cash book, then posting of the double column cash book.
- Petty cash book, posting from petty cash book, convenience accounts.
- Lastly, balancing accounts, sales account and purchase accounts.
CBSE 11th Accountancy NCERT Solutions Chapter 5: Bank Reconciliation System
Learning banks reconciliation will help you with –
- Identifying the major difference between cash book and passbook.
- You will be able to check the actual bank balance.
- This offers guidance for determining fraudulent acts relevant to financial sectors.
Topics covered in the chapter are-
- Need for reconciliation.
- Timing differences
- Several bank-related functions, such as the issuance of cheques or cheques paid to the bank.
- Preparing bank reconciliation statement.
- Lastly, students would learn to deal with overdrafts.
CBSE 11th Accountancy NCERT Solutions Chapter 6: Trail Balance And Rectification Of Errors
Trial balance is the record of all the business ledgers prepared to determine the correctness of the accounts. Once all the accounts are balanced, a trial balance is prepared in accordance with the same. The idea is prepared with two columns one side goes debit while the other side is credit.
Things included in the chapter are-
- Meaning and definition of trial balance.
- Objectives of preparing a trial balance.
- Preparation of trial balance.
- Total, methods, balance methods, total-cum balance methods.
- Significance of agreement of trial balance.
- Lastly, the classification of errors and errors of commission.
CBSE 11th Accountancy NCERT Solutions Chapter 7: Depreciation, Provision and Reserves
Accountancy is the subject that offers students with the idea of what is going on the market in terms of value going up or down. With the completion of each of the chapters, students will slowly get the grasp of all the terminology one by one.
Things that students will get to learn are-
- Depreciation, the meaning of depreciation, features of depreciation, depreciation and other related topics.
- Depletion, amortisation, cause of depreciation, matching of cost of assets.
- Matching costs and revenues, cost of assets, depreciable costs, methods of calculating depreciable cost.
- The straight-line method, written down value method and lastly annual charge of depreciation.
CBSE 11th Accountancy NCERT Solutions Chapter 8: Bills Of Exchange
Students will learn in this chapter-
- Definition and meaning of bills of exchange.
- Parties of bills of exchange.
- Promissory note and parties to a promissory note.
- Advantages of a bill of exchange, maturity bill, discounting of bill, endorsement of bill.
- Lastly, accounting treatment and ‘in the books of the acceptor/promissor’.
CBSE 11th Accountancy NCERT Solutions Chapter 9: Financial Statement-1
A financial statement is prepared since it helps the business owner in determining the financial position of the business. Also, it helps the business owner to ascertain their performance in the arena. A financial statement also helps to work better and change the current position in the market of the business owner. It also helps to evaluate a better comparison with rival organisations in the market. Students will get to learn-
- Stakeholders and their information requirement.
- Difference between capital and revenue.
- Expenditure, receipts and a significant difference between capital and revenue.
- Students will get in-hand experience to prepare a financial statement.
- Trading and profit &loss account.
- Relevant items in trading and profit & loss account.
- The chapter ends with ‘closing entries’.
CBSE 11th Accountancy NCERT Solutions Chapter 10: Financial Statement-2
This chapter is the continuation of the previous chapter thus proceeding with the relevant topics that are not covered in the last chapter. So, things to learn in this chapter are-
- Need for adjustment, closing stocks, outstanding expenses, prepaid expenses.
- Then there is accrued income, incomes received in advance, depreciation, bad debts.
- Students will get to learn provision for bad and doubtful debts, provision of discounts on debtors.
- Lastly, the chapter ends with the manager’s commission and interest of capitals.
CBSE 11th Accountancy NCERT Solutions Chapter 11: Accounts Of Incomplete Records
What is the meaning of incomplete records? The account record that does not have any second entry book-keeping system is termed as incomplete records. What students will learn from the chapter-
- Meaning of incomplete records, features of incomplete records, reasons for its incompleteness and its limitations.
- Then students will read ascertainment of profit and loss, preparing statement of affairs, the difference between a statement of affairs and balance sheet.
- This chapter will also offer an idea regarding preparing trading profit and loss account and balance sheet, ascertaining credit purchases and ascertaining credit sales.
- Lastly, you will learn ascertainment of missing information through a summary of costs.
CBSE 11th Accountancy NCERT Solutions Chapter 12: Applications Of Computer Accounting
Application of computer accounting is an introduction to the automated service practised in every financial sector. The topics covered in the chapter –
- Meaning and elements of computer system, hardware, software, people, procedures, data, connectivity, capabilities of computer system and more.
- Then students will also learn about computer speed, accuracy, reliability, versatility, storage etc.
- Lastly, you will get to study, the limitations of the computer system, components of computer, an input unit, CPU and output.
CBSE 11th Accountancy NCERT Solutions Chapter 13: Computerised Accounting System
A computerised database in the accounting system made operation easy, fast and convenient. The chapter covers-
- The concept of a computerized accounting system in details.
- A thorough comparison between the manual and computers accounting.
- Then there is advantages of computerised accounting, limitations of the same.
- Students will also go through sourcing accounting software, accounting packages, general consideration before actually sourcing an accounting software.
- You will also get the idea regarding the flexibility of the applications, then cost of installation and maintenance and more.
CBSE 11th Accountancy NCERT Solutions Chapter 14: Structuring Database For Accounting
Things this chapter covers are-
- Data processing cycle, designing database accounting, entity-relationship model, entities, entity-relationship model and attributes.
- Then there is ER representation of accounting reality, database technology, an illustration of the accounting database, relational data model, relational database and scheme and more to learn here.
CBSE 11th Accountancy NCERT Solutions Chapter 15: Accounting System Using Database Management System
This is the last chapter to be cover in your syllabus for class 11. Things that get covered here-
- MS Access and its components, access basics for creating a database, creating tables in Access.
- Creating table and relationships for accounting database.
- Database design for simple transaction vouchers and modified designs for transaction vouchers.
- Then there is Access basic including toolbox, form controls and some other common controls in MS Access.
CBSE Class 11 Accountancy NCERT Solutions With Questions And Answers
After reading through all the chapters one thing that still remains to score great in the exam is practising the question and answers. You can check the options given at the back of the chapters. Or better get yourself the pdf practice papers. The CBSE class 11 accountancy NCERT solutions pdf or CBSE class 11 accountancy NCERT sample papers pdf will help you with your exam preparation.
For better understanding start with one question paper at a time. Then try practising the same frequently to have a better understanding of the question and the topic in detail.
Advantages Of CBSE Class 11 Accountancy NCERT Solutions
- With having a vivid knowledge about the chapter in details you get to handle the subject with ease when you attend your class or coaching institute.
- Since the language is very easy and simple with once or twice reading the chapter you will get the idea stuck into the head for your lifetime.
- Additionally, accountancy is a complicated subject, therefore having it studied in an easy language will offer an in-depth clear concept about each terminology regarding the topics.
- The chapters are ‘ready to study’ material, therefore with CBSE class 11 accountancy NCERT solutions students get to finish the subject on time which is again great.
- Furthemore, the course structure is well versed offering students to prepare a future in the finance field.
How To Study With Cbse 11th Accountancy NCERT Solutions?
After having a hard time during class 10 sticking to a well-structured plan will be easy in your 11th. You might think going back to the time table which you followed in 10th in 11th will do no good.
However, think the other way around. If you start from this class then your result in 12th boards would be wonderful. Additionally, if you plan to have a robust career in the financial sector, try working on a strategical plan right from this moment.
- Prepare a new time table and try sticking to the same till final exams.
- You must check all the sample papers to have a thorough understanding regarding the changes and latest updates in the question pattern and work on the same.
- Have a clear mind with all the topic given in your accountancy syllabus.
- Try finishing the chapter before time to execute a proper revision session.
- Prepare a list of important terminologies, formulas, and theories from the chapters and memorize the same for excellent performance in your exam.
- Practicing the previous year’s question paper will provide you with a better understanding of time management as well.
We have given every minute details regarding CBSE class 11 accountancy NCERT solutions here. Still, if you come across any issue regarding the topics feel free to ask questions. We hope you do good in your upcoming exams.