Overview
COURSE DESCRIPTION
Double Entry Book-Keeping is a foundational subject in Class 11 Commerce under CHSE (Odisha). This course introduces students to the systematic recording of financial transactions based on the double entry system, where every transaction affects at least two accounts.
It builds a strong base in accounting principles, enabling students to understand how businesses maintain accurate financial records and prepare basic financial statements.
Course Content Overview
🧾 1. Basics of Accounting
- Meaning, Objectives, and Importance of Accounting
- Basic Accounting Terms (Assets, Liabilities, Capital, Revenue, Expenses)
- Accounting Principles and Concepts
- Accounting Equation (Assets = Liabilities + Capital)
- Types of Accounts and Rules of Debit and Credit
- Journal: Book of Original Entry
- Recording of Transactions in Journal
- Ledger: Classification of Accounts
- Posting from Journal to Ledger
- Balancing of Ledger Accounts
- Preparation of Trial Balance
- Objectives and Limitations of Trial Balance
- Types of Errors in Accounting
- Rectification of Errors
- Introduction to Suspense Account
🎯 Learning Outcomes
By the end of this course, students will be able to:
- Understand the fundamentals of accounting and double entry system
- Record business transactions accurately in journal and ledger
- Prepare trial balance and identify errors
- Maintain cash book and subsidiary books
- Develop accuracy, logical thinking, and financial discipline
Course Features
- Lectures 23
- Quiz 0
- Duration 9 hours
- Skill level All levels
- Language English
- Students 7
- Assessments Yes
Curriculum
- 5 Sections
- 23 Lessons
- Lifetime
- Unit - I Introduction to Accounting5
- 1.1Evolution of Accounting and Need for Accounting
- 1.2Book-Keeping and Accounting – Meaning, definition and characteristics
- 1.3Relationship between Book-Keeping, Accounting and Accountancy, Accounting as a language of business,
- 1.4Objectives, Advantages and Limitations of Accounting, Accounting as an information system
- 1.5Users of accounting information, Branches of Accounting, Accounting Cycle.
- Basic Accounting Concepts7
- 2.1Accounting Principles (GAAP), Concepts and Conventions
- 2.2Accounting Standards: Concept and Objectives
- 2.3IFRS: Concept and Objectives,
- 2.4Basic Terms: Event, Transaction, Vouchers, Debtors, Creditors, Purchases, Sales, Assets, Liabilities, Goods, Stock, Profit, Loss, Expense, Revenue, Income, Drawings and Capital
- 2.5Accounting Equation: Meaning and Preparation, System of Record Keeping
- 2.6Double Entry System and Single Entry System, Basis of Accounting : Cash Basis, Accrual Basis and Hybrid Basis,
- 2.7Classification of Accounts: British Approach and American Approach Rules of Debit and Credit.
- Unit - II Journal, Ledger and Trial Balance5
- Unit - III Bills of Exchange and Computerized Accounting3
- 4.1Bills of Exchange : Meaning, Definition, Parties, Specimen, Distinction Between bills of Exchange and Promissory note, Important Terms – Demand Bill, Time Bill, Terms of Bills, Days of Grace, Calculation of Due Date,
- 4.2Treatment of Bill – Accounting Treatment
- 4.3Computerized Accounting Computers and its Components, Functions, Need and Advantages of Computerized Accounting, Accounting Information System (AIS)
- Unit -IV Rectification of Errors and Bank Reconciliation Statement3
Instructor
Reviews
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