Principles of Accounting I Syllabus is a process designed to identify, measure, and communicate financial information about an organization or other entity. It is both an art and science of keeping a record of financial transactions, Presenting and analyzing the financial information of government and non-governmental enterprises. It is an essential component of commerce education.
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Grade XI NEB Syllabus – Principles of Accounting I Syllabus
Principles of Accounting I Syllabus
Grade: XI
Full marks: 100
Teaching hrs: 150
I. Introduction of Principles of Accounting I Syllabus
Accounting is a process designed to identify, measure, and communicate financial information about an organization or other entity. It is both an art and science of keeping a record of financial transactions, Presenting and analyzing the financial information of government and non-governmental enterprises. It is an essential component of commerce education.
II. General Objectives of Principles of Accounting I Syllabus
General objectives of Principles of Accounting I Syllabus are to:
a. introduce to the students the basic principles of accounting and bookkeeping , accounting of a non-profit organization and governmental accounting, and
b. provide them with fundamental knowledge of bookkeeping and accounting required while pursuing higher education in commerce and management fields.
III. Specific objectives of Principles of Accounting I Syllabus
On completion of Principles of Accounting I Syllabus, the student will be able to:
a. develop a strong foundation of knowledge and understanding required for advanced level education in management and accounting,
b. learn basic concepts and procedures to prepare financial statements;
c. state the procedures of accounting for government, non-government and non-profit organizations;
d. ascertain profit or loss from incomplete accounting records.
IV. Unit-wise teaching hours
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Unit
|
Chapters
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Teaching hours
|
|
1
|
Book-keeping and accounting concept
|
8
|
|
2
|
Recording of transactions
|
18
|
|
3
|
Cash and banking transaction
|
15
|
|
4
|
Trial balance and Accounting errors
|
10
|
|
5
|
Final Account
|
36
|
|
6
|
Depreciation
|
8
|
|
7
|
Reserve and provision
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4
|
|
8
|
Accounting for a non-profit organization
|
15
|
|
9
|
Accounting for incomplete records
|
6
|
|
10
|
Government Accounting
|
30
|
|
|
Total
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150
|
Course Content
Unit 1: Bookkeeping and Accounting Concept 8 LH
Meaning and concept of Bookkeeping and Accounting; Origin and evolution of Book Keeping, Objectives of Bookkeeping and Accounting; Functions of Book Keeping and Accounting; Scopes of Accounting
Basic Accounting Concepts:
Business Entity Assumption, Money Measurement Assumption, Going Concern Assumption, Accounting Period Assumption, Revenue Realization Principle, Cost Principle and Matching Principle.
Double Entry Bookkeeping:
Meaning and concept, Features and Advantages of Double Entry System of Bookkeeping; Accounting cycle; Accounting Equation.
Unit 2: Recording of Transactions 18 LH
Basic Terminologies:
Capital; Liabilities: Long term and short term liabilities; Assets: Fixed assets, Current assets, Investment, Tangible and Intangible assets, Inventory; Revenue and Expenses.
Rules of debit and credit: On the basis of personal, real, and nominal accounts; on the basis of increase or decrease in assets, liabilities, and capital.
Books of Original Entry:
Journal entries for following transactions:
Capital, liabilities, assets, purchase, sales, credit transactions for purchase and sales, loss and gains, revenues and expenses, return outward and inward, compound transactions including acceptance, discounting and dishonour of bills of exchange.
Ledger Account :
Concept, objectives, importance and utility, the opening of accounts, the format of account “T” form and continuous balance form, posting into ledger accounts with and without journal entries, closing and balancing of ledger accounts.
Subsidiary Books and its types
Purchase Book: Concept, Purchase Invoice, Trade discount and Cash discount, Preparation of purchase book and posting to purchase account.
Sales Book: Concept, Sales invoice, preparation of sales book and posting to sales account.
Purchase Return Book: Concept of debit note, preparation of purchase return book and posting to purchase return account.
Sales Return Book: Concept of a credit note, preparation of sales return the book and posting to sales return account.
Unit 3: Cash and Banking Transactions 15 LH
Concept of Cash and Banking Transactions
Banking Concepts: Cheque- meaning and types; Parties to cheque, Endorsement of cheque, Dishonour of cheque, Bank statement (Pass Book).
Cash Book: Simple cash book and bank book, Cash book with; Cash and bank column, cash and discount column, Bank and discount column, Triple columns cash book Petty cash Book, Simple and analytical.
Bank Reconciliation Statement: Reasons for disagreement between cash book and bank statement (passbook) balances, overdraft, and it’s meaning, preparation of bank reconciliation statement from cashbook and passbook balances and overdrafts.
Unit 4: Trial balance and Accounting Errors 10 LH
Trial Balance: Concept, objectives, and preparation of unadjusted trial balance.
Accounting Errors: Meaning and types of accounting errors, errors disclosed and not disclosed by trial balance, the rectification of errors before and after preparation of trial balance, Suspense account: Meaning, utility, and preparation of suspense account.
Unit 5: Final Accounts
Capital and revenue concept: Meaning and concept, types and difference between capital and revenue, receipts, expenditure, losses, profit, and reserves.
Trading Account:Concept, importance, advantages and its preparation, closing entries.
Profit and loss account: Concept, advantages, and method of its preparation, difference between gross profit and net profit, closing entries.
Balance sheet:Concept, importance, objectives, assets and liabilities, marshaling of assets and liabilities
Journal proper:Concept and importance, entries for adjustment, preparation of Adjusted Trial Balance.
Preparation of Final Accounts: Preparation with or without following adjustments: outstanding expenses, prepaid expenses, advance income, accrued income, depreciation, appreciation, closing stock, bad debts, loss of goods, provision for bad debt, provision for discount on debtors, drawings in cash and in kinds, interest on loans, and investments.
Unit 6: Depreciation 8 LH
Concept and causes of depreciation, advantages of providing depreciation, factors affecting the amount of depreciation.
Fixed Installment Method: Meaning, advantages, and disadvantages, the Accounting treatment for purchase of assets, charging yearly depreciation, addition, and disposal of assets.
Reducing Balance Method: Meaning, advantages, and disadvantages, the Accounting treatment for purchase of assets, addition, and disposal of assets, preparation of ledger accounts.
Unit 7: Reserves and Provisions 4 LH
Concept and the objectives of maintaining the following reserves: General reserve and secret reserve, Specific reserves: Sinking fund, Research, and development fund, Reserve for the redemption of liabilities; Accounting treatment for Provision for bad debt, Provision for discount on debtors, General reserve and Research and Development fund.
Unit 8: Accounting for Non-Profit Organizations 15 LH
Concept and terminologies of non-profit organizations
Receipt and payment account: Concept, features and limitations, relevant items of receipt and payment account.
Income and Expenditure account: Meaning and relevant items of income and expenditure account, the distinction between receipt and payment account and income and expenditure account.
Balance Sheet: Meaning and concept of Balance Sheet for non-profit organizations.
Preparation of Final Accounts for non-profit organizations with or without the following adjustments: outstanding subscription, advance subscription, outstanding expenses, and prepaid expenses, accrued income and advance income, revenue and capital nature of receipts, gain or loss on the sale of assets, depreciation, interest on loan and investment, life membership fees, entrance fees, legacies, endowment fund, and donations.
Unit 9: Accounting for Incomplete records 6 LH
Single entry system of bookkeeping: Concept and features, advantages and disadvantages, difference between single and double entry systems of bookkeeping.
Preparation of statement of affairs and ascertainment of profit or loss: Meaning and importance of the statement of affairs, preparation of opening and closing statement of affairs and ascertainment of profit or loss.
Unit 10: Government Accounting
Concept, objectives, and features of government accounting, difference between government and commercial accounting
Government Accounting system: Historical background of government accounting systems, present accounting system: Introduction, objectives, importance, features, and forms used
Principles of Government accounting system: Budgetary accounting (Heads expenditure classification), rules of debit and credit, and cash basis of accounting.
Accounting for operating level:
General journal voucher: Meaning, journal voucher for budget expenditure, advance expenditure and clearance of advances under budget heads and miscellaneous transactions; current fund and budget release, the establishment of petty cash fund and closing of its account, budget transfer, loan and yearly closing for regular and development budget.
Bank Cash Book: Meaning of bank cash book, preparation of bank cash book with without vouchers for different types of transactions
Budget sheet:Introduction to the budget sheet, Preparation of budget sheet with or without preparing vouchers for different types of transactions
Ledger account: Meaning and maintenance of ledger account for the current fund and budget release and other miscellaneous transactions.
Petty cash Book: Meaning and maintenance of petty cash fund, record keeping petty cash expenses, reporting for reimbursement of expenditure.
Expenditure report: Meaning and preparation of monthly expenditure, report monthly advance expenditure report.
V. Unit wise weightage: Principles of Accounting I
|
Units
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Title
|
|
|
Number of questions
|
Marks Allocated
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||||
|
|
|
|
|
Th.
|
Pr.
|
Tot
|
Th.
|
Pr.
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Tot
|
|
1
|
Book-keeping concept
|
and
|
accounting
|
2
|
1
|
3
|
6
|
2
|
8
|
|
2
|
Recording of transactions
|
₋
|
2
|
2
|
₋
|
6
|
6
|
||
|
3
|
Cash and banking transaction
|
₋
|
2
|
2
|
₋
|
12
|
12
|
||
|
4
|
Trial balance and Accounting errors
|
1
|
1
|
2
|
2
|
4
|
6
|
||
|
5
|
Final Account
|
1
|
2
|
3
|
2
|
18
|
20
|
||
|
6
|
Depreciation
|
|
1
|
1
|
|
8
|
8
|
||
|
7
|
Reserve and provision
|
1
|
1
|
2
|
2
|
2
|
4
|
||
|
8
|
Accounting for non-profit
organization
|
₋
|
1
|
1
|
₋
|
10
|
10
|
||
|
9
|
Accounting for incomplete records
|
₋
|
1
|
₋
|
₋
|
4
|
4
|
||
|
10
|
Government Accounting
|
2
|
3
|
5
|
6
|
16
|
22
|
||
|
|
Total
|
7
|
15
|
22
|
18
|
82
|
100
|
||
VI. References of Principles of Accounting I
1. Sharma, Narendra et.al, principles of Accounting XI, Bhundipuran Prakashan, ktm,
2. Koirala, Yadav raj et.al, principles of Accounting- XI, Asmita Books publication, ktm
3. Rai, Ishwor Man, Principles of Accounting-XI, Nalanda Prakashan Pvt. Ltd. ktm
4. Shrestha, Dasharatha et.al, Accountancy-XI, M.K, Prakashan, ktm
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