CBSE · Class 11 · Accountancy
Introduction to Accounting
Chapter 1.1Theoretical FrameworkCBSE / NCERT · Secondary & Senior Secondary
Topics
Accounting as information
- Meaning, objectives, advantages and limitations
- Types and users of accounting information
- Qualitative characteristics
- Role of accounting in business
Basic terms
- Entity, transaction, capital and drawings
- Current and non-current assets and liabilities
- Capital and revenue expenditure
- Expense, revenue, income, profit, gain and loss
- Purchase, sales, goods and stock
- Debtor, creditor and voucher
- Trade and cash discount
Learning objectives
- Classify a business item using basic accounting terms.
Labs for this chapter are on the way
We are building worlds, labs and stories for Introduction to Accounting. Meanwhile, practise its questions or explore the rest of Commerce.
