NCERT Book Class 11
This NCERT book is for class 11. And The main topic is accountancy. This is the part 1 of two NCERT books accountancy part 1 and accountancy part2. This article is a review of this NCERT book. The goal is to tell you the structure of the book.
Ncert book part 1 has 8 chapters:
In this Part of ncert book. You will find an introduction to accounting. It explains what is accounting, what it does, its objectives and it will tell you a history of accounting. Which is very interesting. Also, you will find basic terms of accounting.
The second chapter of this NCERT book will tell you the need for theory base of accounting.Explains the nature of General Accepted Accounting Principles (GAAP), describes the meaning and purpose of the basic accounting concept, describes the systems of accounting and a various basis of accounting.
The third chapter of ncert book it is all about transactions. It describes the nature of transaction and source documents as well as the effect of the transaction. Explains the preparation of accounting vouchers, the rules of debit and credit, the concept of ledger and posting of journal entries to the ledger accounts.
Ncert book chapter which is the continuation of the previous chapter. It explains the need for special purpose books, tells you about how to record transactions in cash book, how to prepare petty cash book, how to record transactions in the special purpose books and how to balance the ledger accounts.
Ncert book chapter teaches you the meaning of term Bank Reconciliation Statment and how to prepare it. It also shows you causes of difference between bank balance as per cash book and pass book.
After studying the chapter of this NCERT book, you will be able to: state the meaning of trial balance and prepare it. Explain the types of errors, state various process of locating errors, identify the errors which affect agreement of trial balance. And anything more you will need to know about trial balance.
Here you will learn about depreciation, the meaning of it, the causes of depreciation. NCERT book chapter will teach you how to record transactions relating to depreciation. It will explain the meaning and the purpose of creating provisions and reserves and the nature of its various types.
The last chapter of the NCERT book Accountancy part 1. It’s objectives are to teach you to state the meaning of bill of exchange and a promissory note, state the advantages of bill of exchange, explain the meaning of different terms involved in the bill of exchange, record it’s transactions in journal, Record transactions relating to dishonour retirement and renewal of bill and much more.
The NCERT book is very informative. Shows you a lot of pictures, diagrams, and boxes with important and interesting information. It will explain basics of accounting and will help you to prepare exams. So just download it and start learning the basics of accounting while we waiting for NCERT book class 11: part 2. 🙂
You can download this book here