Class 11 Accounting

Secondary Education Curriculum
2076
Accounting

Working hrs: 160

1. Introduction

Making the theoretical knowledge of accounting practical, making the learning of this subject employable and of class 11th and 12th with the objective of introducing modern techniques and methods in business accounting A course on accounting has been developed. School according to the guidelines of National Curriculum Framework, 2076 Appropriateness of accounting system in this course of accounting subject at secondary level of education (Class 11 and 12). Management-related content is included. After studying this course, the students can join any organization or It is expected to achieve the ability to manage the accounting system of the office. In addition to this course It is expected to prepare the basis of higher education in related subjects.

Basic recording of financial transactions in the course of accounting subject, double as per rule of debit credit Accounting system, Subsidiary books of account, Preparation of trial balance, Accounting of transactions in bank and cash, Fixed Inventory of assets, financial statement, use of computer in accounting system, accounting system of government of Nepal, non-profit Student-centered to teach theoretical and practical aspects of subjects such as accounting systems of organizations and companies Emphasis is placed on learning facilitation methods and processes. It consists of subject-based practical exercises, Field study visits, exploratory continuous learning, making learning experiential and exploratory and evaluation It is expected that the method will be easy to relate to the learning process and make it relevant. The knowledge aspect of this course It has tried to make the study of the subject practical and experimental by emphasizing skills and attitudes. This course also takes into account the new concepts and changed techniques and methods in financial management
has been prepared. Therefore, the development of the concept of the mentioned content while developing the curriculum of the subject of writing, A balance is maintained between practice and continuous learning and assessment.

Introduction to this course, graded competence, classroom learning achievement, content area and sequence, learning facilitation Process and student assessment are covered. In this course, thematic justification of curriculum writing and development, Introduction including the main characteristics and nature of the course, subject-wise expected knowledge, skills, Competence is included in its practical form including attitude, value and work readiness. Likewise
In this, learning achievement and competence are related to specific elaboration of learning level and competence If there is, based on the longitudinal balance with the previous class, the subject area and sequence, thematic specificity and Originality is included. It includes constructive and decision-making methods and processes for facilitating learning Student evaluation has been organized by mentioning the method and process of evaluation.

2. Level of Competency

After studying at the secondary level (Class 11 and 12), students will acquire the following competencies in accounting are:

1. Familiarity with the meaning, principles and objectives of accounting and the use of double and single entry accounting systems.
2. Preparation of inventory and accounts of fixed assets for initial accounting recording of financial transactions and use.
3. Accounting records and financial records of corporations, sole proprietorships, partnerships, non-profit organizations and other types of firms. Detail preparation and presentation
4. Goshwara vouchers of government financial transactions, bank cash account, expenditure apportionment and budget accounts
   Preparation and use
5. Understanding of purpose and features of Single Account Funding System and use as needed
6. Classification of companies and recording of share transactions
7. Use of Karnapatra and its recording
8. Description and recording of purpose and scope of financial statement and preparation and use of cash flow statement
9. Recording and use of material, labor, unit or product cost accounting
10. Journal and Ledger Entry

Scope and Sequence of Contents

1. Book Keeping and Accounting Concept

1. Book- Keeping
2. keeping
3. Evolution of Book-keeping
4. Accounting: Meaning and Definition
5. Objectives of Accounting
6. Functions of Accounting
7. Scope of Accounting
8. Limitations of Accounting
9. Accounting Process or Cycle
10. Difference between Book-keeping and Accounting
11. Branches of Accounting
12. Basic Accounting Concepts or Assumptions
13. Double Entry Book-Keeping System: Meaning and Definition
14. Features of double entry book keeping system
15. Importance and advantages of double entry book keeping system
16. Generally accepted accounting principles (GAAPs)
17. Basis of Accounting
18. Accounting Convention:
19. Nepal Accounting Standards (NAS)
20. Objectives of Nepal Accounting Standards
21. Benefits of Accounting Standards
22. Nepal Financial Reporting Standard (NFRS)
23. Objectives of NFRS
24. Importance of NFRS
25. Basic Terminologies on Accountancy

2. Accounting Equation

1. Accounting Equation
2. Steps Involved for Developing Accounting Equation
3. Effects of Financial Transaction on Accounting Equation

3. Journal Entry

1. Journal Entry
2. Objectives of Journal Entry
3. Rules of Debit and Credit
4. Steps to be followed in journalizing
5. Sources of accounting information
6. Journal entries for different types of transactions
7. Commencement of Business
8. Banking Transactions
9. Purchase and Purchase Return
10. Sales and Sales Return
11. Purchase and Sale of Assets
12. Expenses and Incomes
13. Partial Payment and Partial Receipt
14. Discount
15. Drawing
16. Bad Debts and Bad Debts Recovered
17. Deprecation and Appreciation
18. Loss of Goods and Insurance Claim
19. Goods Given as Charity or Distributed as free Sample
20. Interest on Capital and Interest on Drawing
21. Outstanding Expenses and Prepaid Expenses
22. Bill of Exchange
23. Essentials of Bill of Exchange
24. Parties to a Bill of Exchange
25. Journal Entries for the Bill of Exchange
26. Drawing or Acceptance and Payment of Bill
27. Discounting the bills of exchange
28. Endorsement of bill of exchange
29. Dishonour of the Bill of Exchange

4. Ledger Account

1. Ledger Account
2. Objectives of Ledger Accounts
3. Difference between Journal Entry and Ledger Account
4. Format of Ledger Account
5. ‘T-shape’ Form of Ledger Account
6. Self-Balancing Form of Ledger Account
7. Rules for Posting the Transactions into Ledger Accounts
8. Balancing and Closing of Ledger Accounts
9. Meaning of Debit and Credit Balance

5. Subsidiary Book

1. Subsidiary Book
2. Objectives of Subsidiary Books
3. Advantages or Importance of Subsidiary Books
4. Limitations of Subsidiary Books
5. Types of Subsidiary Books
6. Purchase Book
7. Sales Book
8. Purchase Return Book
9. Debit Note
10. Sales Return Book
11. Credit Note
12. Difference between debit note and credit note
13. Bills Receivable Book
14. Bills Payable book

6. Cash Book

1. Cash Book
2. Types of Cash Book
3. Simple Cash Book or Simple Bank Book
4. Double Column Cash Book
5. Triple Column Cash Book
6. Petty Cash Book
7. System of Petty Cash Book

7. Modern Banking System and Bank Reconciliation Statement

1. Modern Banking Transaction
2. Types of Accounts
3. Cheque: Meaning and definition
4. Parties involved in cheque
5. Types of Cheque
6. Dishonor of Cheque
7. Endorsement of the Cheque
8. Bank Statement (Pass Book)
9. Modern Banking tools
10. Bank Reconciliation Statement
11. Objectives of Bank Reconciliation Statement
12. Causes of difference and Preparation of Bank Reconciliation Statement
13. Need and Importance of bank Reconciliation Statement
14. Meaning of Bank Overdraft

8. Accounting for Fixed Assets

1. Fixed Assets
2. Depreciation
3. Advantages/ Importance/ Objectives for providing depreciation
4. Causes of Depreciation
5. Factors affecting the amount of Depreciation
6. Provision for depreciation as per income tax act of Nepal
7. Accounting treatment for depreciation
8. Fixed instalments/Straight line method
9. Advantages of straight-line method
10. Disadvantages of straight-line method
11. Reducing balance method/diminishing balance method
12. Advantages of Diminishing Balance Method
13. Disadvantages of Diminishing Balance Method Accounting Treatment for Addition and Sales of Assets
14. Accounting treatment for change in method of depreciation
15. Prospective effect
16. Retrospective effects

9. Trial Balance

1. Trial Balance
2. Objective of Trial Balance
3. Importance of Trial Balance
4. Types of Trial Balance
5. Preparation of Unadjusted Trial Balance
6. Preparation of Trial Balance when Only Ledger Balances are Given
7. Disagreement of a Trial Balance
8. Methods of locating errors

10. Accounting Errors and its Rectification

1. Accounting Errors and Rectification
2. Types of Accounting Errors
3. Types of errors on the basis of nature of error
4. Types of errors on the basis of disclosure by Trial Balance
5. Types of errors on the basis of rectification
6. Rectification of Errors
7. Rectification of errors located before preparing the Trial Balance
8. Rectification of errors located after preparation of trial balance
9. Meaning of Suspense Account

11. Capital and Revenue Concept

1. Capital and Revenue
2. Capital Receipts
3. Revenue Receipts
4. Differences between capital receipts and revenue receipts
5. Capital Expenditure
6. Revenue Expenditures
7. Difference between capital and revenue expenditures
8. Capital Profit
9. Revenue Profit
10. Differences between capital profit and revenue profit
11. Capital Losses
12. Revenue Losses
13. Differences between capital losses and revenue losses
14. Revenue reserve
15. Capital reserve
16. Differences between capital reserve and revenue reserve

12. Preparation of Financial Statemen (Traditional Approach)

1. Preparation of Final Accounts
2. Importance and Advantages of Trading Account Importance and Advantages of Profit and Loss Account
3. Importance and Advantages of Balance Sheet Marshalling of Assets and Liabilities in balance sheet
4. Adjustments in the Final Accounts

13. Financial Statement (Modern Approach)

1. Financial Statement: Modern Approach
2. Characteristics of Financial Statements
3. Objectives and Importance of Financial Statements
4. Limitations of Financial Statements
5. Component/ Parts of Financial Statements
6. Financial Statements under Nepal Financial Reporting Standards (NFRS)
7. Income statement
8. Elements of an Income statement
9. Types of Income Statement
10. Single Step Income Statement
11. Multiple step Income Statement
12. Statement of Financial Position or Balance Sheet
13. Marshalling of assets and liabilities

14. Accounting for Non-profit Organizations

1. Introduction
2. Receipt and Payment Account
3. Limitations of Receipt and Payment Account
4. Income and Expenditure Account
5. Essential Features of Income and Expenditure Account
6. Difference between Receipt and payment
7. Account and Income and Expenditure Account
8. Balance Sheet
9. Some Relevant Items of Receipt and Payment Account
10. Opening Balance Sheet
11. Closing Balance Sheet

15. Reserve and Provision

1. RESERVE
2. Features of Reserve
3. Objectives / Importance of Reserve
4. Types of Reserve
5. Provision: Meaning and Definition
6. Objectives of Creating Provision
7. Differences between Reserve and Provision
8. Provision for bad and doubtful debts and its accounting treatment
9. Disclosure of Provision bad and doubtful debts as per NAS
10. Provision for Taxation

16. Accounting for Incomplete Records

1. Introduction
2. Features of Single-Entry System
3. Advantages of Single-Entry System
4. Disadvantages of Single-Entry System
5. Differences between single entry system and double entry system
6. Differences between statements of affairs and balance sheet
7. Treatment of Adjustments in Single Entry System

17. Journal Proper

1. Journal Proper
2. Opening Entries
3. Closing Entries
4. Transfer Entries
5. Rectifying Entries
6. Entry for Credit Purchase and Credit Sale of Fixed Assets
7. Adjustment Entries
8. Adjusted Trial Balance

18. Introduction of Government Accounting

1. Introduction
2. Objectives and Importance of Government Accounting
3. Features/Characteristics of Government Accounting
4. Difference between Government Accounting & Commercial Accounting
5. Historical Background of Government Accounting in Nepal
6. Types of Accounting System used in Nepal
7. Wasil Banki Sresta Pranali
8. Syaha Sresta Pranali
9. Faram Sresta Pranali
10. Bhuktani Sresta Pranali
11. New Accounting System of Government of Nepal
12. Objectives of New Accounting System
13. Importance of New Accounting system
14. Features of New Accounting System
15. Limitations of New Accounting System
16. Level of New Accounting system
17. Central Level Accounting
18. Operating Level Accounting
19. Classification of Budget Head Expenditure
20. Forms Used in New Accounting System

19. Treasury Single Account (TSA) System

1. Concept of Treasury Single Account
2. Meaning and Definition of Treasury Single Account
3. Features of Treasury Single Account
4. Objectives and Benefits of Treasury Single Account
5. Applications of Treasury Single Account System
6. Payment Order Statement

20. Journal Voucher

1. Journal Voucher
2. Specimen of journal voucher
3. Rules of Debit and Credit
4. Type of Journal Voucher
5. Petty Cash Fund
6. Salary Distribution and Deductions Made
7. Transfer of Budget
8. Loan
9. Rectification of Errors
10. Annual Closing
11. Annual Closing of Budget Release and Budget Expenditure

21. Bank Cash Book

1. Bank Cash Book
2. Importance of Bank Cash Book
3. Specimen of bank cash book
4. Considerable points for preparation of bank cash book
5. Posting of transactions into bank cash book
6. Posting of general journal voucher
7. Preparation of Trial balance
8. Closing of Bank cash Book

22. Budget Sheet

1. Ledger
2. Budget Sheet (Program Based)
3. Importance of budget sheet
4. Parts of budget sheet
5. Posting the Transactions into Budget Sheet

23. Statements of Expenditure

1. Introduction
2. Statement of Expenditure (AGF No. 210)
3. Statement of clearance of Advance (AGF No. 211)