Hello! I'm Kunal Kapoor, residing at Ghaziabad, Uttar Pradesh. With a passion for teaching Accounts and Business Studies, I have been actively involved in education for the past two years. Currently, I am teaching at Suvigya The School since May 2023, specializing in Accounts and Business Studies for class 11 and 12 students, along with mathematics and science up to 8th class. I hold a strong educational background, with a B.Com from CCS University and currently pursuing B.Ed. Equipped with skills like honesty, teamwork, accepting challenges, and strong command in Accounts and Mathematics, I am dedicated to providing quality education and fostering academic growth in my students.

Degree: Bachelors of Commerce - University: CCS UNIVERSITY

Degree:

The course in accounting put emphasis on developing basic understanding about accounting as an information system. The emphasis in Class XI is placed on basic concepts and process of accounting leading to the preparation of accounts for a sole proprietorship firm. The students are also familiarized with basic calculations of Goods and Services Tax (GST) in recording the business transactions. The accounting treatment of GST is confined to the syllabus of class XI. Computerized Accounting System is a compulsory component which is to be studied by all students of commerce in class XI.

• Learning Objectives:

  Part A: Financial Accounting-1

  Unit-1: Theoretical Framework

  Unit-2: Accounting Process

  Part B: Financial Accounting-II

  Unit-3: Financial Statements of Sole Proprietorship

• Course Outline:

  UNIT 1: THEORETICAL FRAMEWORK

  Introduction to Accounting

   · Accounting- concept, meaning, as a source of information, objectives, advantages and limitations, types of accounting information; users of accounting information and their needs. Qualitative Characteristics of Accounting Information. Role of Accounting in Business.

  · Basic Accounting Terms- Entity, Business Transaction, Capital, Drawings. Liabilities (Non Current and Current). Assets (Non Current, Current); Expenditure (Capital and Revenue), Expense, Revenue, Income, Profit, Gain, Loss, Purchase, Sales, Goods, Stock, Debtor, Creditor, Voucher, Discount (Trade discount and Cash Discount)

  Theory Base of Accounting

  · Fundamental accounting assumptions: GAAP: Concept

  · Basic Accounting Concept : Business Entity, Money Measurement, Going Concern, Accounting Period, Cost Concept, Dual Aspect, Revenue Recognition, Matching, Full Disclosure, Consistency, Conservatism,

  · Materiality and Objectivity

  · System of Accounting. Basis of Accounting: cash basis and accrual basis

  · Accounting Standards: Applicability of Accounting Standards (AS) and Indian Accounting Standards (IndAS)

  · Goods and Services Tax (GST): Characteristics and Advantages.

  UNIT 2: ACCOUNTING PROCESS

  Recording of Business Transactions

  · Voucher and Transactions: Source documents and Vouchers, Preparation of Vouchers, Accounting Equation Approach: Meaning and Analysis, Rules of Debit and Credit.

  · Recording of Transactions: Books of Original Entry- Journal

  ·Special Purpose books:

  · Cash Book: Simple, cash book with bank column and petty cashbook

  · Purchases book

  · Sales book

  · Purchases return book

  · Sales return book

  · Journal proper

  Ledger: Format, Posting from journal and subsidiary books, Balancing of accounts

  Bank Reconciliation Statement:

  • Need and preparation, Bank Reconciliation Statement

  Depreciation, Provisions and Reserves

  • Depreciation: Meaning, Features, Need, Causes, factors
  • Other similar terms: Depletion and Amortisation
  • Methods of Depreciation:

  i. Straight Line Method (SLM)
  ii. Written Down Value Method (WDV)

  • Difference between SLM and WDV; Advantages of SLM and WDV
  • Method of recoding depreciation

  i. Charging to asset account
  ii. Creating provision for depreciation/accumulated depreciation account

  • Treatment of disposal of asset
  • Provisions, Reserves, Difference Between Provisions and Reserves.
  • Types of Reserves:

  i. Revenue reserve
  ii. Capital reserve
  iii. General reserve
  iv. Specific reserve
  v. Secret Reserve

  • Difference between capital and revenue reserve

  Trial balance and Rectification of Errors

  • Trial balance: objectives, meaning and preparation
  • Errors: classification-errors of omission, commission, principles, and compensating; their effect on Trial Balance.
  • Detection and rectification of errors;
    (i) Errors which do not affect trial balance
    (ii) Errors which affect trial balance
  • preparation of suspense account.

   

  UNIT 3: FINANCIAL STATEMENTS OF SOLE PROPRIETORSHIP

  Meaning, objectives and importance; Revenue and Capital Receipts; Revenue and Capital Expenditure; Deferred Revenue expenditure. Opening journal entry. Trading and Profit and Loss Account: Gross Profit, Operating profit and Net profit. Preparation. Balance Sheet: need, grouping and marshalling of assets and liabilities. Preparation. Adjustments in preparation of financial statements with respect to closing stock, outstanding expenses, prepaid expenses, accrued income, income received in advance, depreciation, bad debts, provision for doubtful debts, provision for discount on debtors, Abnormal loss, Goods taken for personal use/staff welfare, interest on capital and managers commission. Preparation of Trading and Profit and Loss account and Balance Sheet of a sole proprietorship with adjustments.

  Incomplete Records

  Features, reasons and limitations. Ascertainment of Profit/Loss by Statement of Affairs method. (Excluding conversion method)

• Recomended Audience:

  The audience of this course is students of Grade-11 from CBSE BOARD. All the Chapters are well designed and its coverage as per CBSE board.

   

• Pre-Requisite Requirement:

  Accountancy is a systematic procedure of recognising, documenting, calculating, categorising, substantiating, summarising, elucidating and liaising financial data.

  CBSE Class 11 Accountancy Syllabus furnishes a broad degree of concepts and introduction to the subject.

• Course Level:
  Expert
• Language of Teaching:
  English, Hindi
• Class Schedule Availiability:
  Evening