Ch 3 Class 1 Fundamentals Accounting Assumptions

Описание: Welcome to Gagan Kapoor Classes.

This channel is dedicated to Commerce students across India and focuses on:

• CBSE Class 11 Accountancy
• CBSE Class 12 Accountancy
• CA Foundation Accounting

Learn Accountancy through concept-based lectures, chapter-wise classes, exam preparation, important questions, sample papers and practical problem solving.

Courses Available:

✓ Class 11 Accountancy
✓ Class 12 Accountancy
✓ CA Foundation Accounting
✓ Board Exam Preparation
✓ Important Questions & Sample Papers
✓ Numerical Problem Solving
✓ Career Guidance for Commerce Students
✓ Solutions to T S Grewal

Student Journey Covered:

Class 11 Accountancy
↓
Class 12 Accountancy
↓
CA Foundation Accounting

Website:
[www.gagankapoorclasses.com](https://www.gagankapoorclasses.com)

Business Enquiries:
[[email protected]](mailto:[email protected])

Class 11 Accountancy CBSE Online Course (2026-27) | Complete TS Grewal Based Course
We Provide online classes of Accountancy for Class 11 CBSE with comprehensive pre recoreded video lectures, chapter-wise tests, PDF notes (detailed and summary), MCQs, assignments, and exam-oriented practice, live doubt session and revision. This online course is specially designed for CBSE Commerce students who want to build a strong foundation in Accounting and score high marks in school examinations. Our course builds a strong foundation for students who aspire to excel in the field of commerce and pursue successful careers as Chartered Accountants (CA), Cost and Management Accountants (CMA), Company Secretaries (CS), Chartered Financial Analysts (CFA), MBA professionals, stock market experts, financial consultants, and other commerce-related professions in the future.

The course follows the latest CBSE syllabus and is taught in a simple, conceptual, and step-by-step manner using the highly popular T.S. Grewal Accountancy textbook. Every topic is explained from basics to advanced level, making it suitable for both beginners and students aiming for academic excellence.

Why Join This Course?
✔ Complete CBSE Class 11 Accountancy Syllabus Coverage
✔ Based on Latest T.S. Grewal Textbook
✔ HD Recorded Video Lectures
✔ Chapter-wise Notes and Study Material
✔ MCQs, Practical Questions and Assignments
✔ Regular Tests and Practice Exercises
✔ Conceptual Learning with Detailed Explanations
✔ Access Anytime, Anywhere

Course Curriculum
Unit 1: Theoretical Framework of Accounting
Chapter 1: Introduction to Accounting and Basic Accounting Terms

Definition of Accounting, Meaning and objectives of accounting, Book Keeping and Accounting

Users of accounting information

Basic accounting terminology like Assets, Liabilities, Capital, Debtors and Creditors etc.,

Chapter 2: Theory Base of Accounting

Accounting principles and concepts like Going Business Entity Concepts, Money Measurement Concept, Accounting Period concept, Full Disclosure Concept, Materiality Concept, Prudence or Conservatism Concept, Historical Cost Concept, Matching Concept, Dual Aspect Concept, Revenue Recognition Concept, and Introduction to Accounting Standards

Fundamental Accounting assumptions like Going Concern, Consistency and Accrual as issued in Accounting Standard 1

Bases of accounting i.e, Cash Basis vs Accrual Basis of Accounting

Unit 2: Accounting Process
Chapter 3: Recording of Business Transactions

Source documents

Accounting equation i.e., Assets = Capital + Liabilities

Rules of debit and credit; Traditional Rules (Personal, real and nominal Account) and Modern Rules,

Accounting procedures

Chapter 4: Journal, Subsidiary Books and Ledger

Journal entries simple and Comprehensive like Bad Debts, Bad Debts Recovered, Goods lost by fire or theft, Goods given as charity, Drawings, Free Samples etc.,

Special purpose books

Cash book Single Column, Double Column, Petty Cash Book, Amended Cash Book, Imprest Cash Book

Purchase book

Sales book

Returns books

Journal proper

Ledger posting

Chapter 5: Bank Reconciliation Statement (BRS)

Chapter 6: Depreciation, Provisions and Reserves

Straight Line Method or Fixed Instalment Method and Diminishing Balance Method or reducing balance Method

Chapter 7: Trial Balance and Rectification of Errors

Errors of Principle, Errors of Commission, Errors of Omission, compensating Errors

Unit 3: Financial Statements of Sole Proprietorship

Chapter 8: Preparation of Financial Statements

Trading Account

Profit and Loss Account

Balance Sheet

Meaning of Direct and Indirect Expenses
Chapter 9: Adjustments in Final Accounts

Closing Stock, Outstanding Expenses, Prepaid Expenses, Accrued Incomes, Depreciation, Bad Debts, Provision for Doubtful Debts, Provision for Discount on Debtors, Manager Commission, Interest on Capital, Goods Distributed as Free samples. Goods taken by proprietor for personal use, Goods distributed among staff, Abnormal loss of goods etc.,

Chapter 10: Accounts from Incomplete Records

Statement of Affairs Method and Conversion Method