Accountancy (Subject Code 055)

Class-XI (2025-26)
Theory: 80 Marks 3 Hours
Project: 20 Marks
Units Marks
Part A: Financial Accounting-1
Unit-1: Theoretical Framework 12
Unit-2: Accounting Process 44
Part B: Financial Accounting-II
Unit-3: Financial Statements of Sole Proprietorship 24

Part C: Project Work 20

PART A: FINANCIAL ACCOUNTING - I

Unit-1: Theoretical Frame Work

Units/Topics Learning Outcomes
Introduction to Accounting After going through this Unit, the students will be
• Accounting- concept, meaning, as a source able to:
of information, objectives, advantages and • describe the meaning, significance,
limitations, types of accounting information; objectives, advantages and limitations of
users of accounting information and their accounting in the modem economic
needs. Qualitative Characteristics of environment with varied types of business
Accounting Information. Role of Accounting in and non-business economic entities.
Business. • identify / recognise the individual(s) and
• Basic Accounting Terms- Entity, Business entities that use accounting information for
Transaction, Capital, Drawings. Liabilities serving their needs of decision making.
(Non Current and Current). Assets (Non • explain the various terms used in accounting
Current, Current); Expenditure (Capital and and differentiate between different related
Revenue), Expense, Revenue, Income, terms like current and non-current, capital
Profit, Gain, Loss, Purchase, Sales, Goods, and revenue.
Stock, Debtor, Creditor, Voucher, Discount • give examples of terms like business
(Trade discount and Cash Discount) transaction, liabilities, assets, expenditure
and purchases.
Theory Base of Accounting • explain that sales/purchases include both
• Fundamental accounting assumptions: cash and credit sales/purchases relating to
GAAP: Concept the accounting year.
• Basic Accounting Concept : Business Entity, • differentiate among income, profits and gains.
Money Measurement, Going Concern,
 Accounting Period, Cost Concept, Dual • state the meaning of fundamental accounting
Aspect, Revenue Recognition, Matching, Full assumptions and their relevance in
Disclosure, Consistency, Conservatism, accounting.
• Materiality and Objectivity • describe the meaning of accounting
• System of Accounting. Basis of Accounting: assumptions and the situation in which an
cash basis and accrual basis assumption is applied during the accounting
• Accounting Standards: Applicability of process.
Accounting Standards (AS) and Indian • explain the meaning, applicability, objectives,
Accounting Standards (IndAS) advantages and limitations of accounting
• Goods and Services Tax (GST): standards.
Characteristics and Advantages. • appreciate that various accounting standards
developed nationally and globally are in
practice for bringing parity in the accounting
treatment of different items.
• acknowledge the fact that recording of
accounting transactions follows double entry
system.
• explain the bases of recording accounting
transaction and to appreciate that accrual
basis is a better basis for depicting the
correct financial position of an enterprise.
• Explain the meaning, advantages and
characteristic of GST.

Unit-2: Accounting Process

Units/Topics Learning Outcomes

Recording of Business Transactions After going through this Unit, the students will be
• Voucher and Transactions: Source able to:
documents and Vouchers, Preparation of • explain the concept of accounting equation
Vouchers, Accounting Equation Approach: and appreciate that every transaction affects
Meaning and Analysis, Rules of Debit and either both the sides of the equation or a
Credit. positive effect on one item and a negative
• Recording of Transactions: Books of Original effect on another item on the same side of
Entry- Journal accounting equation.
• Special Purpose books: • explain the effect of a transaction (increase or
• Cash Book: Simple, cash book with bank decrease) on the assets, liabilities, capital,
column and petty cashbook revenue and expenses.
• Purchases book • appreciate that on the basis of source
 • Sales book documents, accounting vouchers are
• Purchases return book prepared for recording transaction in the
• Sales return book books of accounts.

• Journal proper • develop the understanding of recording of

Note: Including trade discount, freight and cartage transactions in journal and the skill of
expenses for simple GST calculation. calculating GST.
• Ledger: Format, Posting from journal and • explain the purpose of maintaining a Cash
subsidiary books, Balancing of accounts Book and develop the skill of preparing the
format of different types of cash books and
Bank Reconciliation Statement: the method of recording cash transactions in
• Need and preparation, Bank Reconciliation Cash book.
Statement • describe the method of recording
Depreciation, Provisions and Reserves transactions other than cash transactions as
• Depreciation: Meaning, Features, Need, per their nature in different subsidiary books .
Causes, factors • appreciate that at times bank balance as
• Other similar terms: Depletion and indicated by cash book is different from the
Amortisation bank balance as shown by the pass book /
• Methods of Depreciation: bank statement and to reconcile both the
i. Straight Line Method (SLM) balances, bank reconciliation statement is
ii. Written Down Value Method (WDV) prepared.
Note: Excluding change of method
• develop understanding of preparing bank
• Difference between SLM and WDV; reconciliation statement.
Advantages of SLM and WDV
• appreciate that for ascertaining the position of
• Method of recoding depreciation individual accounts, transactions are posted
i. Charging to asset account
from subsidiary books and journal proper into
ii. Creating provision for
the concerned accounts in the ledger and
depreciation/accumulated depreciation
develop the skill of ledger posting.
account
• explain the necessity of providing
• Treatment of disposal of asset
depreciation and develop the skill of using
• Provisions, Reserves, Difference Between
different methods for computing depreciation.
Provisions and Reserves.
• understand the accounting treatment of
• Types of Reserves:
providing depreciation directly to the
i. Revenue reserve
ii. Capital reserve concerned asset account or by creating
iii. General reserve provision for depreciation account.
iv. Specific reserve
v. Secret Reserve • appreciate the method of asset disposal
• Difference between capital and revenue through the concerned asset account or by
reserve preparing asset disposal account.
• appreciate the need for creating reserves and
Trial balance and Rectification of Errors also making provisions for events which may
 • Trial balance: objectives, meaning and belong to the current year but may happen in
preparation next year.
(Scope: Trial balance with balance method only) • appreciate the difference between reserve
• Errors: classification-errors of omission, and reserve fund.
commission, principles, and compensating; • state the need and objectives of preparing
their effect on Trial Balance. trial balance and develop the skill of
• Detection and rectification of errors; preparing trial balance.
(i) Errors which do not affect trial balance • appreciate that errors may be committed
(ii) Errors which affect trial balance during the process of accounting.
• preparation of suspense account. • understand the meaning of different types of
errors and their effect on trial balance.
• develop the skill of identification and location
of errors and their rectification and
preparation of suspense account.

Part B: Financial Accounting - II

Unit 3: Financial Statements of Sole Proprietorship

Units/Topics Learning Outcomes

Financial Statements After going through this Unit, the students will be
Meaning, objectives and importance; Revenue and able to:
Capital Receipts; Revenue and Capital Expenditure; • state the meaning of financial statements the
Deferred Revenue expenditure. Opening journal • purpose of preparing financial statements.
entry. Trading and Profit and Loss Account: Gross • state the meaning of gross profit, operating
Profit, Operating profit and Net profit. Preparation. profit and net profit and develop the skill of
preparing trading and profit and loss account.
Balance Sheet: need, grouping and marshalling of • explain the need for preparing balance sheet.
assets and liabilities. Preparation. Adjustments in • understand the technique of grouping and
preparation of financial statements with respect to marshalling of assets and liabilities.
closing stock, outstanding expenses, prepaid • appreciate that there may be certain items
expenses, accrued income, income received in other than those shown in trial balance which
advance, depreciation, bad debts, provision for may need adjustments while preparing
doubtful debts, provision for discount on debtors, financial statements.
Abnormal loss, Goods taken for personal use/staff • develop the understanding and skill to do
welfare, interest on capital and managers adjustments for items and their presentation
commission. Preparation of Trading and Profit and in financial statements like depreciation,
Loss account and Balance Sheet of a sole closing stock, provisions, abnormal loss etc.
proprietorship with adjustments.
• develop the skill of preparation of trading and
profit and loss account and balance sheet.
Incomplete Records
Features, reasons and limitations.
Ascertainment of Profit/Loss by Statement of Affairs
method. (excluding conversion method)

Part C: Project Work (Any One)

1. Collection of source documents, preparation of vouchers, recording of transactions with the help of vouchers.
2. Preparation of Bank Reconciliation Statement with the given cash book and the pass book with twenty to
twenty-five transactions.
3. Comprehensive project of any sole proprietorship business. This may state with journal entries and their
ledgering, preparation of Trial balance. Trading and Profit and Loss Account and Balance Sheet. Expenses,
incomes and profit (loss), assets and liabilities are to be depicted using pie chart / bar diagram. This may
include simple GST related transactions.
 PROJECT WORK

It is suggested to undertake this project after completing the unit on preparation of financial statements. The
student(s) will be allowed to select any business of their choice or develop the transaction of imaginary
business. The project is to run through the chapters and make the project an interesting process. The amounts
should emerge as more realistic and closer to reality.

Specific Guidelines for Teachers

Give a list of options to the students to select a business form. You can add to the given list:
1. A beauty parlour 10. Men's wear 19. A coffee shop
2. Men's saloon 11. Ladies wear 20. A music shop
3. A tailoring shop 12. Kiddies wear 21. A juice shop
4. A canteen 13. A Saree shop 22. A school canteen
5. A cake shop 14. Artificial jewellery shop 23. An ice cream parlour
6. A confectionery shop 15. A small restaurant 24. A sandwich shop
7. A chocolate shop 16. A sweet shop 25. A flower shop
8. A dry cleaner 17. A grocery shop
9. A stationery shop 18. A shoe shop

After selection, advise the student(s) to visit a shop in the locality (this will help them to settle on a realistic
amounts different items. The student(s) would be able to see the things as they need to invest in furniture,
decor, lights, machines, computers etc.

A suggested list of different item is given below.

1. Rent 19. Wages and Salary
2. Advance rent [approximately three months] 20. Newspaper and magazines
3. Electricity deposit 21. Petty expenses
4. Electricity bill 22. Tea expenses
5. Electricity fitting 23. Packaging expenses
6. Water bill 24. Transport
7. Water connection security deposit 25. Delivery cycle or a vehicle purchased
8. Water fittings 26. Registration
9. Telephone bill 27. Insurance
10. Telephone security deposit 28. Auditors fee
11. Telephone instrument 29. Repairs & Maintenance
12. Furniture 30. Depreciations
13. Computers 31. Air conditioners
14. Internet connection 32. Fans and lights
15. Stationery 33. Interior decorations
16. Advertisements 34. Refrigerators
17. Glow sign 35. Purchase and sales
18. Rates and Taxes

At this stage, performas of bulk of originality and ledger may be provided to the students and they may be
asked to complete the same.

In the next step the students are expected to prepare the trial balance and the financial statements.
 BUSINESS STUDIES (Subject Code 054)
CLASS–XI (2025-26)
Theory: 80 Marks 3 Hours
Project: 20 Marks

Units Marks
Part A Foundations of Business
1 Nature and Purpose of Business 16
2 Forms of Business Organisations
3 Public, Private and Global Enterprises 14
4 Business Services
5 Emerging Modes of Business 10
6 Social Responsibility of Business and Business
Ethics
Total 40
Part B Finance and Trade
7 Sources of Business Finance 20
8 Small Business
9 Internal Trade 20
10 International Business
Total 40

Project Work (One) 20

Part A: Foundation of Business

Concept includes meaning and features

Unit 1: Evolution and Fundamentals of Business

Content After going through this unit, the

student/ learner would be able to:
History of Trade and Commerce in India: • To acquaint the History of Trade
Indigenous Banking System, Rise of and Commerce in India
Intermediaries, Transport, Trading
Communities: Merchant Corporations,
Major Trade Centres, Major Imports and
Exports, Position of Indian Sub-Continent
in the World Economy
• Understand the meaning of
Business – meaning and characteristics business with special reference to
economic and non-economic
activities.
• Discuss the characteristics of
business.
Business, profession and employment – • Understand the concept of
Concept business, profession and
employment.
• Differentiate between business,
profession and employment.
Objectives of business • Appreciate the economic and social
objectives of business.
• Examine the role of profit in
business.
Classification of business activities - • Understand the broad categories of
Industry and Commerce business activities- industry and
commerce.
Industry-types: primary, secondary, tertiary • Describe the various types of
Meaning and subgroups industries.
Commerce-trade: (types-internal, external; • Discuss the meaning of commerce,
wholesale and retail) and auxiliaries to trade and auxiliaries to trade.
trade; (banking, insurance, transportation, • Discuss the meaning of different
warehousing, communication, and types of trade and auxiliaries to
advertising) – meaning trade.
• Examine the role of commerce-
trade and auxiliaries to trade.
• Understand the concept of risk as a
Business risk-Concept special characteristic of business.
• Examine the nature and causes of
business risks.

Unit 2: Forms of Business organizations

Sole Proprietorship-Concept, merits and • List the different forms of business

limitations organizations and understand their
meaning.
• Identify and explain the concept,
merits and limitations of Sole
Proprietorship.
Partnership-Concept, types, merits and • Identify and explain the concept,
limitation of partnership, registration of a merits and limitations of a
partnership firm, partnership deed. Types Partnership firm.
of partners • Understand the types of
partnership on the basis of duration
and on the basis of liability.
• State the need for registration of a
partnership firm.
• Discuss types of partners –active,
sleeping, secret, nominal and
partner by estoppel.
Hindu Undivided Family Business: • Understand the concept of Hindu
Concept Undivided Family Business.
Cooperative Societies-Concept, merits, • Identify and explain the concept,
and limitations. merits and limitations of
Cooperative Societies.
• Understand the concept of
consumers, producers, marketing,
farmers, credit and housing co-
operatives.
Company - Concept, merits and limitations; • Identify and explain the concept,
Types: Private, Public and One Person merits and limitations of private and
Company – Concept public companies.
• Understand the meaning of one
person company.
• Distinguish between a private
company and a public company.
Formation of company - stages, important • Highlight the stages in the
documents to be used in formation of a formation of a company.
company • Discuss the important documents
used in the various stages in the
formation of a company.
Choice of form of business organization • Distinguish between the various
forms of business organizations.
• Explain the factors that influence
the choice of a suitable form of
business organization.

Unit 3: Public, Private and Global Enterprises

Public sector and private sector • Develop an understanding of Public

enterprises – Concept sector and private sector
enterprises
Forms of public sector enterprises: • Identify and explain the features,
Departmental Undertakings, Statutory merits and limitations of different
Corporations and Government Company forms of public sector enterprises
Global Enterprises – Feature • Develop an understanding of global
Joint venture enterprises, public private
Public private partnership – concept partnership by studying their
meaning and features.
Unit 4: Business Services
Business services – meaning and types. • Understand the meaning and types
Banking: Types of bank accounts - of business services.
savings, current, recurring, fixed deposit • Discuss the meaning and types of
and multiple option deposit account Business service Banking
• Develop an understanding of
difference types of bank account.
Banking services with particular reference • Develop an understanding of the
to Bank Draft, Bank Overdraft, Cash credit. different services provided by
E-Banking: meaning, types of digital banks
payments
Insurance – Principles. Types – life, health, • Recall the concept of insurance
fire and marine insurance – concept • Understand Utmost Good Faith,
Insurable Interest, Indemnity,
Contribution, Doctrine of
Subrogation and Causa Proxima as
principles of insurance
• Discuss the meaning of different
 types of insurance-life, health, fire,
marine insurance.
Postal Service - Mail, Registered Post, • Understand the utility of different
Parcel, Speed Post, Courier - meaning telecom services

Unit 5: Emerging Modes of Business

E - business: concept, scope and benefits • Give the meaning of e-business.

• Discuss the scope of e-business.
• Appreciate the benefits of e-
business
• Distinguish e-business from
traditional business.

Unit 6: Social Responsibility of Business and Business Ethics

Concept of social responsibility • State the concept of social

responsibility.
Case of social responsibility • Examine the case for social
responsibility.
Responsibility towards owners, investors, • Identify the social responsibility
consumers, employees, government and towards different interest groups.
community
Role of business in environment protection • Appreciate the role of business in
environment protection.
Business Ethics - Concept and Elements • State the concept of business
ethics.
• Describe the elements of business
ethics.

Part B: Finance and Trade

Unit 7: Sources of Business Finance

Concept of business finance • State the meaning, nature and

importance of business finance.
Owners’ funds- equity shares, preferences • Classify the various sources of
share, retained earnings funds into owners’ funds.
• State the meaning of owners’
funds.
Borrowed funds: debentures and bonds, • State the meaning of borrowed
loan from financial institution and funds.
commercial banks, public deposits, trade • Discuss the concept of debentures,
credit, Inter Corporate Deposits (ICD) bonds, loans from financial
institutions and commercial banks,
Trade credit and inter corporate
deposits.
• Distinguish between owners’ funds
and borrowed funds.
Unit 8: Small Business and Enterprises

Entrepreneurship Development (ED): • Understand the concept of

Concept, Characteristics and Need. Entrepreneurship Development
Process of Entrepreneurship Development: (ED), Intellectual Property Rights
Start-up India Scheme, ways to fund
start-up. Intellectual Property Rights and
Entrepreneurship
Small scale enterprise as defined by • Understand the meaning of small
MSMED Act 2006 (Micro, Small and business
Medium Enterprise Development Act)
Role of small business in India with special • Discuss the role of small business
reference to rural areas in India
Government schemes and agencies for • Appreciate the various Government
small scale industries: National Small schemes and agencies for
Industries Corporation (NSIC) and District development of small scale
Industrial Centre (DIC) with special industries. NSIC and DIC with
reference to rural, backward areas special reference to rural, backward
area.

Unit 9: Internal Trade

Internal trade - meaning and types • State the meaning and types of
services rendered by a wholesaler and a internal trade.
retailer • Appreciate the services of
wholesalers and retailers.

Types of retail-trade-Itinerant and small • Explain the different types of retail

scale fixed shops retailers trade.

Large scale retailers-Departmental stores, • Highlight the distinctive features of

chain stores – concept departmental stores, chain stores
and mail order business.

GST (Goods and Services Tax): Concept • Understand the concept of GST
and key-features

Unit 10: International Trade

International trade: concept and benefits • Understand the concept of

international trade.
• Describe the scope of international
trade to the nation and business
firms.
Export trade – Meaning and procedure • State the meaning and objectives
of export trade.
• Explain the important steps
involved in executing export trade.
Import Trade - Meaning and procedure • State the meaning and objectives
 of import trade.
• Discuss the important steps
involved in executing import trade.
Documents involved in International Trade; • Develop an understanding of the
indent, letter of credit, shipping order, various documents used in
shipping bills, mate’s receipt (DA/DP) international trade.
• Identify the specimen of the various
documents used in international
trade.
• Highlight the importance of the
documents needed in connection
with international trade transactions
World Trade Organization (WTO) meaning • State the meaning of World Trade
and objectives Organization.
• Discuss the objectives of World
Trade Organization in promoting
international trade.

Unit 11: Project Work

As per CBSE guidelines.

 ECONOMICS (Subject Code 030)
CLASS – XI (2025-26)
Theory: 80 Marks 3 Hours
Project: 20 Marks
Units Marks
Part A Statistics for Economics
Introduction
15
Collection, Organisation and Presentation of Data
Statistical Tools and Interpretation 25
40

Part B Introductory Microeconomics

Introduction 04
Consumer's Equilibrium and Demand 14
Producer Behaviour and Supply 14
Forms of Market and Price Determination under perfect 08
competition with simple applications
40

Part C Project Work 20

Part A: Statistics for Economics

In this course, the learners are expected to acquire skills in collection, organisation and
presentation of quantitative and qualitative information pertaining to various simple
economic aspects systematically. It also intends to provide some basic statistical tools
to analyse, and interpret any economic information and draw appropriate inferences. In
this process, the learners are also expected to understand the behaviour of various
economic data.

Unit 1: Introduction
What is Economics?
Meaning, scope, functions and importance of statistics in Economics

Unit 2: Collection, Organisation and Presentation of data

Collection of data - sources of data - primary and secondary; how basic data is
collected with concepts of Sampling; methods of collecting data; some important
sources of secondary data: Census of India and National Sample Survey Organisation.

Organisation of Data: Meaning and types of variables; Frequency Distribution.

2
 Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data:
(i) Geometric forms (bar diagrams and pie diagrams), (ii) Frequency diagrams
(histogram, polygon and Ogive) and (iii) Arithmetic line graphs (time series graph).

Unit 3: Statistical Tools and Interpretation

For all the numerical problems and solutions, the appropriate economic interpretation may be
attempted. This means, the students need to solve the problems and provide interpretation for
the results derived.

Measures of Central Tendency- Arithmetic mean, Median and Mode

Correlation – meaning and properties, scatter diagram; measures of correlation - Karl

Pearson's method (two variables ungrouped data) Spearman's rank correlation
(Non-Repeated Ranks and Repeated Ranks).

Introduction to Index Numbers - meaning, types - Wholesale Price Index, Consumer Price
Index and index of industrial production, uses of index numbers; Inflation and Index Numbers,
Simple Aggregative Method.

Part B: Introductory Microeconomics

Unit 4: Introduction
Meaning of microeconomics and macroeconomics; positive and normative economics

What is an economy? Central problems of an economy: what, how and for whom to
produce; concepts of Production Possibility Frontier and Opportunity Cost.

Unit 5: Consumer's Equilibrium and Demand

Consumer's equilibrium - meaning of Utility, Marginal Utility, Law of Diminishing
Marginal Utility, conditions of consumer's equilibrium using marginal utility analysis.

Indifference curve analysis of consumer's equilibrium-the consumer's budget (budget

set and budget line), preferences of the consumer (indifference curve, indifference
map) and conditions of consumer's equilibrium.

Demand, market demand, determinants of demand, demand schedule, demand curve

and its slope, movement along and shifts in the demand curve; price elasticity of
demand - factors affecting price elasticity of demand; measurement of price elasticity of
demand – percentage-change method and total expenditure method.
3
Unit 6: Producer Behaviour and Supply
Meaning of Production Function – Short-Run and Long-Run
Total Product, Average Product and Marginal Product.
Returns to a Factor
Cost – Short run costs - Total Cost, Total Fixed Cost, Total Variable Cost; Average
Cost; Average Fixed Cost, Average Variable Cost and Marginal Cost - meaning and
their relationships.
Revenue – Total Revenue, Average Revenue and Marginal Revenue - meaning and
their relationship.
Producer's Equilibrium - meaning and its conditions in terms of Marginal Revenue-
Marginal Cost.
Supply, market supply, determinants of supply, supply schedule, supply curve and its
slope, movements along and shifts in supply curve, price elasticity of supply;
measurement of price elasticity of supply - percentage-change method.

Unit 7: Perfect Competition - Price Determination and simple applications.

Perfect competition - Features; Determination of market equilibrium and effects of

shifts in demand and supply. (Short Run Only)

Simple Applications of Demand and Supply: Price ceiling, Price floor.

Part C: Project in Economics

Guidelines as given in Class XII curriculum