Book Keeping and Accountancy
Goal and Objectives :-
Profit earning is the ultimate aim of every business. The entrepreneurs always remain eager to assess the profits and for this they should essentially acquire and review the information about business activities, Accounting information is the
mirror image of business sevenths. Therefore. all profit and not-for-profit business establishments do accounting work through various systems and knowledge of these essential for the students of commerce group.
At this stage, the students have to be provided a clear understanding of basic accounting principles and procedures relating them with recent business environment and society.
Objectives :-
1. To develop an understanding that the Book - Keeping and Accountancy provide a summarised view of business events.
2. To develop understanding of accounting concepts. systems and standards.
3. To develop the skill of recording economic activities of business in proper accounting books and prepare financial statements with these.
4. To enable the students to understand and analyses the business accounts and comment on them.
Book Keeping and Accountancy
Commerce Group
Time : 3 Hours CLASS : XI M.M. : 100
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S.N. Unit Wise Weightage Marks Periods
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1. Accounting 05 08
2. Accounting: Basic Assumptions and Principles. 05 08
3. Business transaction, 05 08
4. Journal and Subsidiary Books 10 16
5. Ledger 05 08
6. Bank Reconcilation statement 05 08
7. Trial Balence and Rectification of Errors 10 16
8. Bills of Exchange and Promissory note 05 08
9. Depreciation (Fixed and Diminishing Balance Methods) 05 08
10. Provisions and Reserves 05 08
11. Financial Statement 10 16
12. Accounting in Non-trading concerns 10 16
13. Accounts from Incomplete Records 10 16
14 Indian System of Accounting 10 16
Rivision - 20
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Unit 1. Accounting: 5 Marks
Meaning, Objectives, Importance and Limitations. Terminology: Business Trans actions, Capital, Drawings, Asset, Liabilities, Revenue, Expenditure, Income, Expense and Losses, Goods Purchase, Sales, Stock, Cost, Profits, Voucher discount, Debtors, Creditors, Receivables and Payables. capital revenue, and deferred revenue expenditore Qualitative Characteristics of Accounting information: Reliablility Relevane, Understandability and comparability. Accounting methods - single, double, cash and Indian.
Unit 2. Accounting: Basic Assumptions and Principles : 5 Marks
(A) Basic Assumption: Accounting Entity, Money measurment, Going Concern, Accounting period.
(B) Basic Principles: Duality, Verifiability and objectivity of Evidence, Historical Cost, Revenue Recognition, Matching, Full Disclosure.
(C) Modifying Principles: Materiality, Consistency, Prudence.
( D) Accounting Standards: Meaning, Nature and Need.
Unit 3. Business Transactions: 5 Marks
Voucher and it's preparation; Accounting Equations- Meaning and Analysis of transactions using Accounting Equation; Rules of Debit and Credit : for Assets, for Liabilities for capital, for Revenue and for Expenses; Double Entry System:
Meaning, Characteristics, Principles, Merit and Demerits, Classification of accounts under Double Entry System.Accounting stages.
Unit 4. Journal and Subsidiary Books : 10 Marks
Need, Definition, Rules, Recording of Transaction; Special Subsidiary Books: Cash Book: Simple and Bank Column, Petty cash book. Pur chases Book, Sales Book, Purchase Return Book , Sales Return Book , Bills Recievable Book, Bill Payable Book- Format; and Recording Transactions.
Unit 5. Ledger: 5 Marks
Meaning, Utility, Format; Ledger Posting from Journal, Cash Book and Subsidiary books; Balancing of Ledger Accounts.
Unit 6. Bank Reconcilation Statement: 5 Marks
Meaning, Need, Importance; Causes of difference in Cash Book and Pass Book balances and Preparation of Bank Reconcilation Statement for Reconcilation.
Unit 7. Trial Balance and Rectification of Errors. :
(A) Trial Balance : Meaning, Need, Methods, and Preparation. 10 Marks
(B) Errors :- Types, Errors affecting Trial Balance and Errors not affecting Trial Balance; Detection and rectification; Suspense Account - Meaning, Utility, Preparation and treatment of suspense account balance.
Unit 8. Bills of Exchange and Promissory Note: 5 Marks
Meaning, Characteristics, Parties, Specimen and Distinction; Term of bill, Date of maturity and Days of grace; Types of bill, Negotiability, Endorsement, Dishonour, Noting and Insolvency of Acceptor, Retirement and Renewal of bill; Accounting treatment of bill transactions.
Unit 9. Depreciation: 5 Marks
Meaning, Need and Factors affecting depreciation. Methods- Fixed Instalment Method, Diminishing Balance Method (Excluding change in method) Disposal of asset.
Unit 10. Provisions and Reserves : 5 Marks
Meaning and Importance; Need for provision for doubtful debts, provisions for doubtful debts, provision for discount on debtors. Difference between provisions and Reserves. Types of Reserve- Revenue and capital; General and specific.
Unit 11. Financial Statement :- 10 Marks
Meaning, Importance, Uses, Trading account, Profit and Loss Account; Gross, Operating and Net Profit; Balance Sheet-Marshalling of Assets and Liabilities. Adjustment in Financial Statements- Closing Stock ,Outstanding and Prepaid Ex
penses, Earned and Unearned Income, Depreciation,Bad debts, Provision for Bad debts, Provisionfor Discount on Debtors and Creditors, Manager's Commission, Abnormal Loss, Interest on Capital and Drawings; Goods Sent to Customers for
approval and Goods in transit, Preparation of trading, profit and loss account and Balance Sheet of sole traders.
Unit 12. Accounting in Non Trading Concerns 10 Marks
Non-Trading Concern: Meaning and examples;Receipts and Payment account, Income and Expenditure account - Meaning, Importance and method of preparation; Accounting of Cash and Non-cash expenses; preparation of Income and Expenditure account and Balance Sheet on the basis of Receipts and Payment account and adjustements.
Unit 13. Accounts from Incomplete Records: 10 Marks
Incomplete Records: Meaning, Uses and Limitations; Ascertainment of Profit/Loss by statement of affairs method; preparation of Trading and Profit and Loss Account and Balance Sheet (With Reference to missing figures in total debtors account, total creditors account, Bills Receivable, Bills Payable, Cash book and opening statement of affairs).
Unit 14. Indian System of Accounting: 10 Marks
Meaning, Characteristics, Merits, Demerits; Books of original Entry- Band Bahi, Kacchi and Pakki Rokad Bahi , Jama and Nam Nakal Bahi, Difference between Indian System and English System of Book Keeping; Applied Knowledge of Final Accounts.
Business Studies
Goal and Objectives. :-
Globalization and revolutions in information technology have brought drastic Changes in the business sector. Knowledge and understanding of new practices is essential for commerce students to effectively participate in business
activities in their future life.
At this stage, the students have to be provided basic knowledge and under standing ofbusiness and procedures relating them with recent business environment and society.
After completion of this course the students will. :-
1. Understand business principles and procedures and develop interest in business activities.
2. Analyse the business environment and practices prevailing in country and the state.
3. Describe the dynamic, inter - dependent and inter- related nature of business.
4. Describe general principles of business management.
5. Prepare themselves for higher education and self - employment.
6. Function as effective and responsible Businessman, Consumer, Employer, Employee and good Citizen in their life.
BUSINESS STUDIES
Commerce Group
Time : 3 Hours CLASS : XI M.M. : 100
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S.N. Unit Title Marks Periods
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1. Business : Nature and Purpose 10 16
2. Social Responsibilities of Business and Business Ethics. 06 10
3. Structure of Business 07 12
4. Service Sector and Business 08 13
5. Forms and Formation of Business Enterprises 12 18
6. Sectoral Organization of Business 07 12
7. Formation of a Company 08 13
8. Sources of Business Finance 14 21
9. Internal Trade 10 16
10. External Trade 08 13
11. Office Management and Information Technology. 10 16
Rivision -- 20
Total: 100 180
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Unit-1 Business : Nature and Purpose:- 10 Mark
Business - Concept and characteristics; Business, profession and employment- distinctive features; Economic and Social objectives of Business; Business Risks - nature and causes; Role of profits in Business.
Unit-2 Social Responsibilities of Business and Business Ethics : 06 Mark
Social Responsibility - Concept, Responsibilty towards different interested groups - owners, investors, employees, consumers, government, Community and public in genral; Business and Environmental Protection; Business Ethics
- Concept and Elements.
Unit-3 Structure of Business : 07 Mark
Classification of Business activities-industry and commerce; Types - primary, secondary and tertiary; Trade - Types; E-commerce: meaning, utility, resources required for successful e-commerce implementation; security and safety of
business transactions; Outsourcing of Services : nature, need and types, financial services, advertising, courier services, Customer-Support Services.
Unit-4 Service Sector and Business : 08 Mark
Banking, Finance and Insurance; Nature and types of Financial Services; Types of Banks, Functions of Commercial Banks; ATM, Tele-Banking, E - Banking; Insurance - principles, types-life, general, fire, marine and health insurance.
Communication - Postal and Telecom; Recent trends in modes of Communication; meaning and uses of fax, internet and e-mail; Warehousing-types and functions.
Unit-5 Forms and Formation of Business Enterprises : 12 Mark
Sole Trade, Joint Hindu Family Business, Partnership - formation, deed- main clauses, registration, Co-operative Societies; Company - public and private - meaning, features, merits and limitation; Choice of form of business
enterprises; Factors to be considered for starting a business; importance of small business enterprises.
Unit-6 Sectoral organization of Business : 07 Mark
Private and Public Sector-meaning and importance; Forms of Organizing public sector enterprises- departmental, corporation and government company; Changing role of Public Sector in Modern Age, Joint Sector and Global Enterprises, Multinational Companies - meaning and benefits.
Unit-7 Formation of a Company : 08 Mark
Stages in formation of a company - promotion, incorporation and commencement of Business; Articles, Memorandum of Association and Prospectus.
Unit-8 Sources of Business Finance : 14 Mark
Finance - meaning, nature and significance, Short, medium and long term business finance and their use; Sources of finance - owners funds and borrowed funds; meaning and characterstics of shares (preference
and equity), Debentres (secured, unsecured, convertable and inconventable) Retained profits, Public Deposits, Trade credit, Discounting of bill, Global Depository Receipt and American Depository Receipt; Institutional Financing
- objectives and types; special financial assistance available to industries in rural, backward and hilly area.
Unit-9 Internal Trade: 10 Mark
Meaning and Types; Wholesale-functions and services; Retail- meaning, features, merits, limitations and type - Itinerants and Fixed Shops, Departmental Stores, Multiple / Chain Shops, Mail Order Business; Franchise, Consumers Co-operative Store, Super Bazar, Malls, Automatic Vending Machine; Role of Chember of Commerce and Industry in promotion of internal trade.
Unit-10 External Trade : 8 Mark
Foreign Trade - Nature, Scope, complaxities and importance, entering into International trade (basic) Export Promotion, Export - Import Procedure and Documents. International Trade Institutions - W T O, World Bank, IMF.
Unit-11 Office Management and Information Technology. 10 Mark
Office - meaning, importance and departments; Filing and Indexing – meaning and importance, use of Telegram, STD, FAX and Computer.
Business Economics
Goal and Objectives :-
Globalization and Liberalization and Privatization have deeply effected the
business in modern age. Every businessman should have knowledge of economic
principles, polices and business environment of the country for achieving success.
At this stage, the students of commerce group should have clear understanding
of fundamental principles of economics, basic economic environment and their
relation with business and society.
Objectives :-
1. To develop an understanding of basic economic concepts and principles in students
so that can use them logically in their daily life.
2. To develop understanding of industrial status and economic problems of country
and the state.
3. To inculcate the capacity to use basic methods of statistics and national income
accounting in economic analysis.
BUSINESS ECONOMICS
Commerce Group
Time : 3 Hours CLASS : XI M.M. : 100
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S.N. Unit Title Marks Periods
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1 Concepts of economics 08 12
2 Utility and related laws. 08 12
3 Consumer behaviour and demand 10 16
4 Production 08 12
5 Production function and supply 10 16
6 Price determination 08 13
7 Economy: General Introduction 08 13
8 Economic growth and development 08 13
9 Indian Economy. (in 1947) 08 13
10 Indian Economy. (1947 to 1991) 08 13
11 Indian Economy (After 1991) 08 13
12 Population and other problems. 08 13
Rivision - 20
Total: 100 180
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Unit-1 Concepts of Economics : 08 Mark
Ancient Indian and Western economic thinkings Disfference in both; Definitions - Adam Smith, Marshall, Robbins, Kautilya, Chankaya, J.K. Mehta. and M.G. Bokre.
Nature - Art, Science or both, Divisions of Economics and their relation, Importance, Limitations. Wants :- Meaning, Characteristics, classification, necessaries, comforts, luxuries; Factors affecting classification.
Unit-2 Utility and related laws : 08 Mark
Utility - Meaning, definition, types and its measurement, Law of Diminishing Marginal utility - Explanation, Assumption, exceptions and importance. Law of Equi-marginal utility - explainatian, assumptions and importance; Consumer's surplus - meaning, definition, explanation, importance and criticisms.
Unit-3 Consumer behaviours and demand : 10 Mark
Consumer equlibrium - Utility maximisation (Single commodity analysis), Demand - Individual and market demand, factors determining demand, Law of demand, Demand schedule and Demand curve; Change in demand.Shifit and change on demand curve. Price elasticity of demand :- meaning, measurment - percentage, total expenditure and geometric methods.
Unit-4 Production : 08 Marks
Meaning, definition, factors of production, Law of Diminishing marinal returns - meaing, definition, explaination with diagram and importance; Returns to factor and returns to scale.
Division of Labour, mobility of Labour and efficiency of labour- meaning, definition, merits and effecting factors.
Unit-5 Production function and supply : 10 Marks
Cost of Production - total, average, marginal, fixed and variable cost; Revenuetotal, average and marginal; Price; firm's equilibrium.
Unit-6 Price determination : 08 Marks
Price Determination, Perfect competition, Price equilibrium and effect of changes in demand and supply.
Unit-7 Economy - general introduction : 08 Marks
Meaning, definition, Types, Central problems of economy and their solutions (what to produce, how to produce and for whom to produce?). Production possibility curve and opportunity cost.
Unit-8 Economic growth and development : 08 Marks
Economic growth - Meaning defination, economic developement, sustainable development, indicators of development, Percapita income, Quality of life index (Basic idea)
Unit-9 Indian Economy (1947) : 08 Marks
Structure of the Indian Economy at the time of independence – occupa tinal structure, Relative contribution of sectors (agriculture, industries and service sector) to National income, infranstructure Economic (energy, transport and communication) and Social (education, health and housing).
Unit-10 Indian Economy (1947-1991) : 08 Marks
Development strategies till - 1991 :- Economic planning - meaning, main objectives, main features of economic policies; main achievements and fail ures. (General introductory Basic idea).
Unit-11 Indian Economy (After 1991) : 08 Marks
Economic Reforms since 1991- need and main features, liberalisation globalisation and privatisation.
Unit-12 Population and other Problems : 08 Marks
Importance of population, Theories of population - Malthusian and Optimum Theory of Population.Difference in both, problems of population, poverty, Rural Developement and unenployment in india (with special reference to M.P.)
Index: Eleventh (11th) Syllabus MP Board>>