The day a person receives a salary, he will be calculating all his expenses first and checking how much money he could save. If a single person maintains his family with his salary, then he could remember the monthly expenses, as there will be no confusion. But for an organization or a company with more than 20 employees, monthly charges for the place and all the expenses and investment, it is not easy to calculate or check without some account book.
Accountancy is a term for maintaining a record or ledger to check all the transactions of a business. The Business needs more transparency to avoid any conflicts and maintain a fair account. From an earlier age itself, students will be learning about Business, Accountancy and economical factors from the Class 11 CBSE syllabus.
Class 11 CBSE Accountancy
Class 11 of CBSE consists of over eight subjects, and three of them deal with Business related subjects, such as Business Studies, Economics and Accountancy. Simultaneously knowing the factors of Indian Economics, its history, the planning system, and the Business subject with topics or chapters like trading, business organisations, commerce, private and public enterprises etc. Accountancy subject of Class 11 syllabus consists of fifteen chapters, such as:
- Introduction of Accountancy
- Theory Base of Accounting
- Recording of Transactions 1
- Recording of Transactions 2
- Bank Reconciliation statement
- Trial Balance and Rectification of Errors.
- Depreciation, Provisions and Reserves
- Bill of Exchange
- Financial Statements 1
- Financial Statements 2
- Accounts from Incomplete Records
- Applications of Computers and Accounting
- Computerised Accounting System
- Structuring Database for Accounting
- Accounting System for Database Management System
All these chapters give a student detailed note on accountancy with basic and appropriate knowledge on the subject.
Analysis of the Syllabus:
The fifteen chapters of Accountancy based on the topics can be categorised into four categories.
- Accounting with Computers
As per the pattern of the CBSE question paper observed from previous year papers, there will be a 90 marks paper for three hours duration. It consists of one mark questions, which are very short answer types, like definitions, meaning, simple answer types. The three marks and four marks questions are based on the transactions, bank reconciliation statements, or explanation of certain topics in a theoretical way. The final six and eight marks questions deal with the journals, profit and loss of organisations accounts, ledger accounts, balance sheets, debit and credit status calculations etc.
To deal with such papers, students need to answer more solutions and the textbooks have concepts and some questions to solve for students. To ace the exam, students need more practice and solutions for certain previous year questions. NCERT books are helpful up to a mark, with their concepts and activities, but to find the answers when the students don’t have class notes or could not understand their class notes then they go for external sources.
DK Goel Solutions:
DK Goel is one of the better solutions for Class XI subjects, because of its clean and elaborate way of explaining. It has a total of twenty-seven chapters in the book for the fifteen chapters of the syllabus of Class XI Accountancy, based on the topics, the chapters are divided. This book of Solutions provides value-based questions and answers, to enhance and improve the knowledge of students.
It has solutions for all the chapters, without skipping any questions and all the answers are from expert guidance. DK Goel book only deals with Accountancy of classes 11 and 12, and it has complete answers for the questions from NCERTs. Without searching for many sources, It has given elaborated and enhanced solutions that are to the point. For one mark question, it should be to the point and not dragging much.
From chapters of DK Goel solutions of Accountancy, we have 27 chapters in total. The chapters of 1,2 and 3 deal with the meaning of accountancy, basic terminologies and accounting principles, which mostly consist of one mark, three mark questions with definitions, and theoretical concepts.
Chapters 4, 5 and 6 deal with the topics of Process and basis of accounting, like cash basis and accrual basis accounts. And the Accounting standards and IFRS, being the fifth chapter, which deals with the financial statements of a company or business. Chapter 6, deals with the Accounting equations, which is a small topic of chapter 3 of NCERT class XI.
DK Goel Solutions Class 11 Accountancy Chapter 6 gives solutions for the Accounting equations topic, which signifies that liabilities and capital together are the assets of a business. Through this equation, the solutions can be drawn for various questions. This book gives you solutions for questions that could be one mark, three marks or eight marks questions, with simple, brief and tabular forms of answers.
For other chapters like Financial statements, Capital Revenue, Computerised accounting system, for every chapter, these solutions from DK Goel have better answers and in an understandable way. They are made by the experts keeping in the note of the final exam paper, how the questions are framed, how to answer them etc. From maintaining accounts in a book to maintaining them in computer files, the world has changed a lot. The process of accounting in computers on how to enter them, knowing about the computer system and tallying the details in excel sheets. Everything is explained and the gi
Whether a student is from commerce or another category, it will be good to have knowledge on such subjects, where the world is emerging with new techniques to affect someone’s business accounts. To learn something useful and boost their confidence to ace the exam, students need suitable material to crack the exam without any hurdles.
Accountancy is a subject where a student needs to have basic Mathematics knowledge and a Logical understanding of any given topic. For learning the topics like Bank statements, journal accounts, Students need to understand the topics and answer them with logic as well as mathematical. With simple formulae like [Assets=Liabilities+capital]; which is enough to answer all the questions related to the topic of Accounting Equations.