Accountancy Class 11 NCERT Solutions

Accountancy is introduced to students for the first time at the class 11th. The subject takes them on a tour of data and its representation using various methods. In total, there are 15 chapters in the syllabus of class 11 accountancy, that are divided into 2 parts. To understand what the subject has on offer, it is important for students to get familiar with what is included in the chapters. In this blog we have devised accountancy class 11 NCERT solutions that will help you get a hold of the insights of the chapters. 

Also Read: Respiration in Plants Class 11 Notes

Accountancy Class 11 NCERT Solutions

Mentioned below are all the chapters that are in the syllabus of class 11th accountancy along with their important insights. Our accountancy class 11 NCERT solutions notes are summarised just for you.

Chapter 1: Introduction to Accounting

Your journey of class 11 Accountancy will open through this chapter and therefore it is the first chapter in our accountancy class 11 NCERT solutions, which aims to enlighten you about the definition of accounting, objectives of accounting along with state and the end product of financial accounting. 

Chapter 2:  Theory Base of Accounting 

The second chapter of the book and the second chapter in our class 11 accountancy NCERT solutions will take you through some interesting concepts such as money measurement concept, cost concept, Generally Accepted Accounting Principles (GAAP) and conservatism concept.

Must Read: Structure of Atom Class 11 Notes

Chapter 3:  Recording of Transactions- I 

The next chapter on our list of class 11 accountancy NCERT solutions is Recording of Transactions -1. Along with introducing students with balance sheets for the first time, this chapter aims to guide them with a bunch of other fundamental concepts such as accounting equation,  books of original entry, classification of ledger accounts. 

Chapter 4:  Recording of Transactions- II

Next topic in our list of Accountancy class 11 NCERT solutions is on Recording of Transactions- II which includes vital topics like balancing of cash book, purchase account, single column cash book and sales account. 

Explore: Business Services Class 11 Notes

Chapter 5:  Bank Reconciliation Statement 

The prominent topics from this chapter are differences caused by errors, timing differences, differences caused by errors and cheques paid into the bank not yet collected.

Chapter 6:  Trial  Balance and Rectification of Errors 

The sixth chapter in class 11 accountancy and on our list in accountancy class 11 NCERT solutions is all about Preparation of Trial Balance, Balances Method, Objectives of Preparing and the Trial Balance and Classification of Errors. 

Chapter 7: Depreciation, Provisions and Reserves

In this chapter of class 11 accountancy syllabus, mainly you will get to know about concepts like Amortisation, Methods of calculating depreciation amount, Features of Depreciation and Straight Line Method. 

Must Read: The Living World Class 11 Notes

Chapter 8: Bills of Exchange

Considered as one of the most important chapters of accountancy and also important in class 11 accountancy NCERT solutions comprises parties to a promissory note, meaning of Bill of Exchange, Endorsement of Bill and Maturity of Bill.

Chapter 9: Financial Statement 1 

Another chapter for which we will provide you with Accountancy class 11 NCERT solutions is on Financial Statement-1. It involves a detailed study into Trading and Profit and Loss Account, Importance of Distinction between Capital and Revenue, Closing Entries and Financial Statements.

Chapter 10: Financial Statement 2

The tenth chapter of book 2 is based on Financial Statement 2 that is a tour of concepts based on Accrued Income, Closing Stock, Income Received in Advance and Need for Adjustments.

Must Read: Class 11 Hydrogen Notes

Chapter 11: Accounts of Incomplete Records 

Next on our list in class 11 accountancy NCERT solutions is Accounts of Incomplete Records. Topics elaborated in this chapter are reasons of incompleteness and its limitations, difference between the statement of affairs and balance sheet, ascertaining credit purchases and features of incomplete records. 

Chapter 12:  Application of Computers in Accounting 

The concept of accounting works efficiently when done over computers and so is thoroughly explained in this chapter via concepts like Capabilities of a computer system, Limitations of a computer system, Components of a computer and Versatility.

Chapter 13:  Computerised Accounting System 

Next chapter in our list of Accountancy class 11 NCERT solutions is on Computerised Accounting System that familiarizes students with topics like Sourcing of accounting software, Advantages of the computerised accounting system and Accounting packages.

Explore: Class 11 Gravitation Notes

Chapter 14:  Structuring Databases for Accounting

In this chapter, students will get to know about the important topics of accountancy like designing database for accounting, ER presentation of accounting reality and an illustration of accounting database.

Chapter 15:  Accounting System Using Database Management System 

The concluding chapter of your journey is based on engaging topics like access basics for Creating a Database, Creating of Tables in Access and Vouchers Using Forms. 

Also Read: Emerging Modes of Business Class 11 Notes

Thus, we hope that through this detailed guide on accountancy class 11 NCERT solutions, we have helped you in getting an idea about the curriculum of the course. Our experts at Leverage Edu are here to guide you in getting started with your dream course after you complete your class 12th. Reach out to us today and get a free e-meeting!