Maharashtra Board HSC Syllabus for Book Keeping and Accountancy – Maharashtra Board Class 11th Syllabus for Accountancy – Chapters Detailed Topics Chapter 1: Introduction of Book-keeping and Accountancy Meaning and definition Objectives Importance and Utility Difference between Book-Keeping and Accountancy Basis of Accounting - Cash basis and Accrual basis Qualitative characteristics of accounting information Financial Accounting, Cost Accounting, Management Accounting Chapter 2: Basic Accounting Terminologies Business Transactions - Cash Transactions and Credit Transactions Goods Profit, loss-Operating and Non-operating profits, Normal gains and abnormal gains with examples. Difference between profit and Income Assets, Liabilities, Net-worth/ Owners Equity Assets: Fixed/ Current/Tangible/ Intangible/ fictitious Contingent Liability Capital, Drawings Debtors, Creditors Capital Expenditure, Revenue and Deferred Revenue Expenditure Cash discount and Trade discount Solvent and Insolvent Accounting Year Trading Concerns and ‘Not for Profit’ Concerns Goodwill Chapter 3: Accounting Concepts, Conventions and Principles and Indian Accounting standards concepts and objectives Meaning and Importance Business Entity Money measurement Cost Consistency Conservatism Going Concern Realization Accrual Dual Aspect Disclosure Materiality Revenue Matching Accounting Standards Chapter 4: Meaning and fundamentals of Double Entry Book-keeping System Study of Double Entry Book-keeping system Advantages of Double Entry Bookkeeping system Comparison of Double Entry Bookkeeping system with Conventional Accounting system Chapter 5: Classification of Accounts and Accounting equations Rules Types of accounts-personal, Impersonal accounts- Real accounts, Nominal accounts Rules for different accounts for passing entries Illustrations Accounting equations Assets, Liabilities, Revenue and capital expenses Brief: Explanation about IFRS Chapter 6: Source documents required for Accounting Meaning, contents and specimen Voucher-internal, external voucher Petty cash and cash voucher Cash and Credit memo Receipt Debit and Credit note Pay-in-slip Withdrawal slip Cheque-Bearer, Order, Crossed, Account payee Bank pass book, Bank Statement and Bank advice Chapter 7: Journal Meaning, Importance and utility of Journal Specimen of Journal Writing of Journal entries Chapter 8: Subsidiary Books Meaning, need and specimen of different Subsidiary Books Simple Cash Book with cash column only Cash Book with cash and bank columns Analytical Petty Cash Book-imprest system Purchase Book Sales Book Purchase Return Book Sales Return Book Bank Book Journal Proper, Transactions of Discounts to be taken in Journal Proper Chapter 9: Ledger Meaning, need and contents of ledger be explained Specimen of ledger Posting of entries from Subsidiary books to ledger Balancing of ledger accounts Chapter 10: Bank Reconciliation Statement Meaning, need and importance Reasons for difference in bank balance as per cash book and balance as per bank pass book Specimen of Bank Reconciliation Statement Preparation of Bank Reconciliation Statement Chapter 11: Trial balance Meaning and Purpose Specimen of Trial Balance Preparation of Trial Balance from given balances of accounts Chapter 12: Errors and their rectification Meaning and effects of errors Types of errors - Errors of principles, Errors of Ommission, Errors of commission and Compensating Errors Steps to locate errors Errors affecting and not affecting Trial Balance Treatment of balance of suspense account Rectification entries Chapter 13: Depreciation, Provisions and Reserves Depreciation : Meaning, Need and Factors affecting depreciation Methods of computation of Depreciation: Straight Line Method, Written Down Value Method (Excluding Change in method) Accounting Treatment of Depreciation : By charging to asset account by creating Provision for depreciation / accumulated depreciation account Provisions and Reserves: Meaning, Objectives and Difference between provisions and Reserves Types of Reserves: Revenue Reserve, Capital Reserve, General Reserve, Specific reserves, Secret reserves Chapter 14: Financial statements of Proprietary concern Financial Statements- Meaning, objective and Importance Preparation of Trading Account Preparation of Profit and Loss Account Preparation of Balance Sheet Effects of following adjustments only a. Closing stock b. Depreciation c. Bad and Doubtful debts d. Provision for discount on Debtors and Creditors e. Outstanding expenses f. Prepaid expenses g. Accrued income h. Income received in advance i. Drawings j. Goods distributed as free sample Chapter 15: Computer in Accounting Introduction to Computer Accounting System: Components of CAS, Features, Grouping of Accounts, using software of C.A.S. Application of computer accounting Automation of accounting process, designing accounting reports, data exchange with other information system