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Friday, October 16, 2020

ACCOUNTANCY SYLLABUS | AHSEC CLASS 11 SYLLABUS | 2020 - 21 | REVISED AND REDUCED | HS 1ST YEAR

 REVISED CURRICULA AND SYLLABII FOR
ASSAM HIGHER SECONDARY FIRST YEAR (AHSEC 1ST YEAR)
(Commerce Stream)
Subject - Accountancy
Revised and Reduced syllabus for 2021 exam
3 Hours (One Paper - Marks: 100)

Unit wise Distribution of Course Contents:

Unit No.

Title

Marks

 

PART A : FINANCIAL ACCOUNTING – I (60 Marks )

 

6

6

20

8

10

10

 

18

12

6

4

Unit – I

Unit – II

Unit – III

Unit – IV

Unit – V

Unit – VI

Introduction to Accounting.

Theory Base of Accounting.

Recording of Business Transactions.

Trial Balance and Rectification of Errors.

Depreciation, Provision and Reserves.

Accounting for Bills of Exchange Transactions.

 

PART – B : FINANCIAL ACCOUNTING – II (40 Marks)

Unit – VII

Unit – VIII

Unit – IX

Unit – X

Financial statements.

Accounts from incomplete records.

Computers in Accounting.

Accounting and Database system.

 

Total

100

Unit wise Distribution of Course Contents:

Part 1: Book Keeping

Unit – I: Introduction to Accounting:

1.          Accounting – Meaning, Objectives, Accounting as source of information, Internal and External users of accounting information and their needs.

2.          Qualitative Characteristics of Accounting Information – Reliability, Relevance, Understandability and Comparability.

3.          Basic Accounting Terms – Assets, Liability, Capital, Expenses, Income, Expenditure, Revenue, Debtors Creditors, Goods, Cost, Gain, Stock, Purchase, Sales, Loss, Profit, Voucher, Discount, Transaction, Drawings.

Unit – II: Theory Base of Accounting:

1.          Accounting Principles -  Meaning and Nature

2.          Accounting Concepts: Entity, Money Measurement, Going Concern, Accounting Period, Cost Concept, Dual Aspect, Revenue Recognition (Realisation), Matching Accrual, Full Disclosure, Consistency, Conservatism, Materiality.

3.          Accounting Standards – Concept and List of Indian Accounting Standards.

4.          Accounting Mechanism – Single Entry and Double Entry.

5.          Bases of Accounting – Cash Basis, Accrual Basis.

Unit – III: recording of Business Transaction

1.          Voucher and Transaction: Origin of Transactions – Source documents and Vouchers, Preparation of vouchers; Accounting equations approach – Meaning and Analysis of transactions using accounting equations; Rules of debit and credit.

2.          Recording of Transaction : Books of original entry – Journal, Special purpose books :

a)         Cash book – Simple, Cash book with bank column and Petty Cash book,

b)         Purchases book, Sales book, Purchases returns book, Sale returns book; Ledger: Meaning, Utility, Format; Posting from Journal and subsidiary books; Balancing of accounts.

3.          Bank Reconciliation Statement: Meaning, Need and Preparation, Correct Cash balance.

Unit – IV: Trial Balance and Rectification of Errors.

1.          Trial balance: Meaning, Objectives and Preparation.

2.          Errors: Types of Errors; Errors affecting trial balance; Errors not affecting trial balance.

3.          Detection and Rectification of Errors (one sided and two sided); uses of suspense account.

Unit – V: Depreciation, Provisions and Reserves.

1.          Depreciation : Meaning and Need for charging depreciation, Factors affecting depreciation, Methods of depreciation – Straight line method, Written down value method (excluding change in method), Method of recording depreciation – charging to asset account, creating provision for depreciation / accumulated depreciation account ; Treatment of disposal of an asset.

2.          Provision and Reserve: Meaning, Importance, Difference between provisions and reserves, Types of reserves: Revenue reserve, Capital reserve, General reserve, Specific reserve and Secret reserve.

Unit – VI: Accounting for Bills of Exchange Transactions.

1)         Bills of exchange and Promissory note: Definition, Features, Parties, Specimen and Distinction.

2)         Important Terms : Term of Bill, Concept of Accommodation Bill, Days of grace, Date of maturity, Bill after date, Negotiation, Endorsement, Discounting of bill, Dishonor,

3)         Accounting treatment of bill transactions Retirement and Renewal of a bill.

Part 2: Accountancy

Unit – VII: Financial Statements;

1.       Financial Statements : Meaning and Users,

2.       Distinction between capital expenditure and revenue expenditure.

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

4.       Balance Sheet: Need, Grouping, Marshalling of assets and liabilities, Vertical presentation of financial statement.

5.       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, Manager’s commission.

6.       Preparation of trading and profit and loss account and balance sheet of sole proprietorship.

Unit – VIII: Accounts from Incomplete Records.

1.          Incomplete Records: Meaning, Uses and Limitations.

2.          Ascertainment of profit / loss by Statement of Affairs method.

3.          Preparation of trading and profit and loss account and balance sheet.

4.          Ascertaining missing figures in Total debtors account, Total creditors account, Bills receivable, Bills payables and Cash book and Opening statement of affairs.

Unit – IX: Computer in Accounting.

1.          Introduction to Computer and Accounting Information System (AIS).

2.          Application of Computers in accounting, Automation of accounting process, designing accounting reports, MIS reporting, date exchange with other information systems.

3.          Comparison of accounting processes in manual and customized accounting, highlighting advantages and limitations of automation.

4.          Sources of accounting system: Readymade and customized and tailor-made accounting system. Advantages and disadvantages of each option.

Unit – X: Accounting and Database system

1.          Accounting and Database Management System.

2.          Concept of Equity and Relationship : Entries and relationship in an Accounting system :

3.          Designing and Creating Simple Tables, Forms, Queries and Reports in the context of Accounting system.

*****

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