Class 11 Book Keeping and Accountancy (BK) Notes

All 10 chapters

• Chapter 1: Introduction to Book-keeping and Accountancy
  Book-keeping is the art of recording business transactions in a systematic manner. Accountancy goes further: it classifies, summarises, analyses and...
• Chapter 2: Meaning and Fundamentals of Double Entry Book-keeping
  Under the double entry system every transaction has two aspects, a debit and an equal credit. Accounts are classified as personal, real and nominal...
• Chapter 3: Journal
  The Journal is the book of original entry. Every transaction is first recorded here in chronological order with a debit, a credit and a narration...
• Chapter 4: Ledger
  The Ledger is the principal book of accounts in which all journal entries are posted account-wise. Balancing the ledger accounts shows the net...
• Chapter 5: Subsidiary Books
  To reduce the load on the journal, similar transactions are recorded in separate books called subsidiary books, which are then posted to the ledger...
• Chapter 6: Bank Reconciliation Statement
  A Bank Reconciliation Statement (BRS) is prepared to reconcile the balance in the cash book (bank column) with the balance in the bank's passbook on...
• Chapter 7: Depreciation
  Depreciation is the gradual decrease in the value of a fixed asset due to wear and tear, passage of time or obsolescence. It is charged as an expense...
• Chapter 8: Rectification of Errors
  Errors made while recording transactions must be corrected. The nature of the error decides whether it affects the trial balance and how it is...
• Chapter 9: Final Accounts of a Proprietary Concern
  Final accounts show the result of business operations and its financial position: the Trading Account, the Profit and Loss Account and the Balance...
• Chapter 10: Single Entry System
  The single entry system is an incomplete way of keeping accounts, mostly used by small traders. Since full records are not kept, profit is found by...