Commerce Subjects: 11th and 12th Subjects and Syllabus

Commerce is known as the most famous stream that is opted by Indian students and the main commerce subjects are Accountancy, Economics, Business Studies and English. Moreover, we have discussed about these subjects in detail along with the syllabus of the 11th and 12th class for these subjects. For studying abroad after completion of the intermediate education there are many best colleges In Canada for commerce students such as the University of Toronto, York University, etc. So, let us quickly know about the following commerce subjects. 

Read this: Smartest Career Options After 12th Commerce With High Salary!

Commerce Subjects of 11th and 12th 

Accountancy

You’ll study how to manage finances in a company, including recording transactions, creating financial statements, and assessing the state of the company’s finances.

Economics 

You can better grasp how civilizations manage resources, make decisions, and handle money by studying economics. You will gain knowledge of ideas like demand and supply, inflation, and economic systems.

Business Studies

This course teaches the fundamentals of managing a company, including entrepreneurship, marketing, and management.

English

Since effective written and verbal communication is essential in business, you’ll probably take English as a topic.

Syllabus of 11th and 12th Commerce 

ACCOUNTANCY SYLLABUS 

Syllabus of Accountancy Class 11th 

PART A: Financial Accounting- I 

UNIT 1: Theoretical Framework 

Chapter 1 Lesson: Introduction to Accounting 

# Accounting  Objectives  Types of Accounting Information  Users of accounting information and their needs  Advantages and Limitations # Basic Accounting Terms  Drawings   Liability (non-current and current)  Capital  Asset (non-current, tangible and intangible assets and current assets)  Business Transaction  Account  Income  Expense  Receipts (revenue and capital)  Sales Return  Sales  Profits  Expenditure (deferred, capital and revenue)  Gains and Losses  Purchase Returns Purchases  Stocks  Goods  Cost  Trade Payables (bills payable and creditors)  Vouchers  Trade Receivables (bills receivable and debtors)  Discount- cash and trade

Chapter 2 Lesson: Theory Base of Accounting 

# Fundamental Accounting Assumptions  Accrual  Consistency  Going Concern  # Accounting Principles Dual Aspect  Matching Concept  Cost Concept  Prudence  Materiality  Full Disclosure  Accounting Period  Money Measurement  Accounting Entity  # Bases of Accounting  Accrual Basis  Cash Basis  # Accounting Standard and International Financial Reporting Standards (IFRS)  Objectives  Concepts

UNIT 2: Accounting Process 

Chapter 3 Lesson: Recording of Transaction 

# Accounting Equation  Analysis of Transaction using Accounting Equation  # Rules of Debit and Credit is for Expenses  Revenue  Assets  Liabilities  Capital  # Origins of Transactions  Source Documents (pay in slip, cash memo, cheque, invoice)  Preparation of Vouchers- non-cash (Transfer) and cash (Credit and Debit) # Books of Original Entry  Format and Recording- Journal  # Cash Book  Petty Cash Book  Simple Cash Book  Cash Book with Discount Column  Cash Book with Discount Column and Bank  # Other Books  Journal Proper  Sales Returns Book  Sales Book  Purchases Book  Purchases Return Book

Chapter 4 Lesson: Preparation of Bank Reconciliation Statement, Trial Balance and Ledger 

# Bank Reconciliation Statement  Need and Preparation  Corrected Cash Book Balance  Calculating bank balance at accounting date  # Ledger  Balancing of Accounts  Posting from journal  Format  Cash Book and other special journal books  # Trial Balance  Preparation  Objectives

Chapter 5 Lesson: Depreciation, Provisions and Reserves 

# Depreciation  Straight Line Method  Written Down Value Method (exclude change in method)  Concept factors and need affecting depreciation Methods of computation of depreciation  # Accounting treatment of depreciation  Treatment of disposal of asset  By charging to the asset account  By creating an accumulated depreciation account/ provision for depreciation  # Provisions and Reserves  Difference between provisions and reserves  Concept  Objectives  # Types of Reserves  Specific Reserves  Revenue Reserve  Capital Reserve  General Reserve

Chapter 6 Lesson: Accounting for Bills of Exchange 

# Bills of Exchange and Promissory Note  Distinction  Features  Definition  Specimen  Parties  # Important Terms Noting of Bill  Retirement and renewal of a bill  Dishonour of bill  Days of Grace  Endorsement of Bill  Bill Sent for Collection  Due Date  Discounting of Bill  Term of Bill  Date of Maturity  # Accounting Treatment of bill transactions

Chapter 7 Lesson: Rectification of Errors 

# Errors  Principles  Commission  Compensating; their effect on trial balance  Types-errors of omission # Detection and Rectification of errors  Preparation of suspense account

PART B: Financial Accounting- II 

UNIT 3 Lesson: Financial Statements of Sole Proprietorship 

# Financial Statements  Importance  Objectives  # Profit and Loss Account  Net Profit  Gross Profit  Operating Profit  # Balance Sheet  Liabilities  Marshalling of Assets  Grouping  Need  # Adjustments in Preparation of Financial Statements  Goods Distributed as free samples  Goods taken for personal use  Abnormal loss  Manager’s Commission  Provision of discount on debtors  Provision for doubtful debts  Bad debts  Depreciation  Income received in advance  Accrued income  Prepaid expenses  Outstanding expenses  With respect to closing stock  # Preparation of Trading; profit and loss account; Balance sheet of sole proprietorship # Incomplete Records  Ascertainment of profit/ loss by statement of affairs method  Use and Limitations

UNIT 4 Lesson: Financial Statements of Not-for-Profit Organizations 

# Not-For-Profit Organizations: Concept  # Receipts and Payment Account: features  # Income and Expenditure Account

Scope 

1. Trading account (incidental activities) should not to be prepared.  2. General donations/ admission fees and entrance fees are to be treated as revenue receipts.  3. Adjustments in question should not exceed 3 or 4 in number and also should be restricted to the consumption of consumables, subscriptions and sale of assets or old material.

UNIT 5 Lesson: Computers in Accounting 

# Introduction to Computer and AIS (Accounting Information System)  Limitations of Computer System  Capabilities  Elements  # Introduction to Operating Software  Introduction of AIS (Accounting Information System), as a part of MIS (Management Information System)  Application Software and Utility Software  # Automation of Accounting Process  # Stages in Automation  Creation of Account Groups and hierarchy  Generation of Reports: Profit and Loss Account, Balance Sheet and Trial Balance  Accounting process in a computerized environment (Comparison between Computerised accounting process and manual accounting process)  Sourcing of accounting software (Kinds of software: readymade software; generic considerations before sourcing accounting software; customized software)

Syllabus of Accountancy Class 12th 

PART A: Accounting for Partnership Firms and Companies 

UNIT 1 Lesson: Accounting for Partnership Firms 

# Partnership  Features  Partnership Deed  # Provisions of the Indian Partnership Act 1932 in the absence of partnership deed # Fixed v/s fluctuating capital accounts # Preparation of Profit and Loss Appropriation account- division of profit among partners and guarantee of profits # Past adjustments (relating to interest on capital, interest on drawing, profit and salary sharing ratio) # Goodwill − factors affecting, nature and methods of valuation – average profit, super profit and capitalization

Accounting for Partnership Firms: Reconstitution and Dissolution 

# Change in the Profit-sharing ratio among the existing partners Gaining ratio  Sacrificing ratio  Preparation of balance sheet and revaluation account Accounting for reassessment of liabilities, treatment of accumulated profits and reserves and revaluation of assets.  # Admission of a partner  Treatment of reserves and accumulated profits  Treatment of Goodwill: as per as 26  Effect of admission of a partner (on change in the PSR or profit sharing ratio)  Treatment for reassessment of liabilities and revaluation of assets.  Preparation of balance sheet and adjustment of capital accounts.  # Retirement and Death of a Partner  Treatment of Goodwill: as per as 26  Adjustment of reserves and accumulated profits  Treatment for reassessment of liabilities and revaluation of assets. Death of a partner/ effect of retirement on the change in the profit sharing ratio  Preparation of Loan Account (Retiring Partner)  Preparation of Capital Account (Deceased Partner)  Preparation of Balance Sheet and executor’s account  Deceased partner: Calculation of profit till the date of death  Preparation of Bank Balance sheet and adjustment of capital accounts  # Dissolution of a Partnership Firm  Capital accounts of partners and bank a/c or cash (excluding the sale to a company, piecemeal distribution and insolvency of partners.  Types of dissolution of a firm  Settlement of accounts (preparation of realization account and other accounts related to them)

UNIT-2 Lesson: Accounting of Companies 

Accounting for Share Capital

# Share and Share Capital  Types Nature  # Accounting for Share Capital  Private Placement of Shares  Issue and allotment of equity shares  Issue at a premium or at par  Employment Stock Option Plan (ESOP)  Calls in arrears and calls in advance (excluding interest)  Public Subscription of shares: under subscription and oversubscription of shares  # Re-issue of shares and accounting treatment of forfeiture  # Disclosure of share capital in the company’s balance sheet

Accounting of Debentures 

# Debentures  Issue of debentures with the terms of redemption  Issue of debentures: at premium, at par and at a discount  Interest on debentures, debentures as a collateral security-concept  Issue of debentures for consideration (other than cash)  # Redemption of Debentures  Creation of DRR (Debenture Redemption Reserve)  Draw of lots, lump sum and purchase in the open market (Excluding cum interest and exinterest)

PART B: Financial Statement Analysis 

UNIT 3 Lesson: Analysis of Financial Statements 

# Financial Statement of a Company  Balance sheet and statement of profit and loss in the prescribed form with the subheadings and major headings according to the Schedule III to the Companies Act, 2013)  # Financial Statement Analysis  Importance  Objectives  Limitations  # Tools for Financial Statement Analysis  Cash Flow Analysis  Ratio Analysis  Common Size Statements  Comparative Statements # Accounting Ratios  Classification  Objectives  Computation  # Liquidity Ratios  Quick Ratio  Current Ratio  # Solvency Ratios  Interest Coverage Ratio  Proprietary Ratio  Total Asset to Debt Ratio  Debt to Equity Ratio  # Activity Ratios  Working Captial Turnover Ratio and Trade Payables Turnover Ratio  Trade Receivables Turnover Ratio  Inventory Turnover Ratio  # Profitability Ratios  Operating Ratio  Return on Investment and Net Profit Ratio  Gross Profit Ratio  Operating Profit Ratio

UNIT 4 Lesson: Cash Flow Statement 

# Meaning  # Objectives  # Preparation (as per AS 3 (Indirect Method Only) (Revised))

PART C: Computerized Accounting 

UNIT 5 Lesson: Computerized Accounting 

# Overview of Computerized Accounting System  Introduction of Application in Accounting  Structure of CAS (Consolidated Account Statement) Features: Computerized Accounting System Software Packages- Tailored; Generic; Specific  # Accounting Application of Electronic Spreadsheet  Ratio Analysis, repayment of the loan schedule  Concept of Electronic Spreadsheet  Data Representation: Charts, graphs and diagrams Features offered by the electronic spreadsheet  Application in generating accounting information: loan; asset accounting; bank reconciliation statement  # Using Computerized Accounting Statement  Data: Validation, entry and verification  Need and Security features of a system  Profit and Loss account with opening and closing entries, preparation of balance sheet and the adjusting entries   Creation of accounts, hierarchy of account heads and codification and the steps in installation of the CAS # DBMS or DataBase Management System  Features and Concept of DBMS  DBMS in Business Application  Generating Accounting Information: Payroll

ECONOMICS SYLLABUS 

Syllabus of Economics Class 11th

PART A: Statistics of Economics 

UNIT 1: Introduction 

# What is Economics?  # Meaning, scope and Importance of Statistics in Economics

UNIT 2: Collection, Organisation and Presentation of Data

# Collection of Data  Some Important sources of secondary data  Methods of Collecting Data  How basic data is collected  Sources of data: secondary and primary  Census of India and National Sample Survey Organisation  # Organisation of Data  Frequency distribution  Meaning and types of variables # Presentation of Data: Diagrammatic Presentation of Data and Tabular Presentation  Arithmetic line graphs- time series graph  Frequency diagrams (ogive, histogram and polygon)  Geometric forms (pie diagrams and bar diagrams)

UNIT 3: Statistical Tools and Interpretation 

# Measures of Central Tendency  Mode  Mean  Median  # Measures of Dispersion  Relative Dispersion  Lorenz curve  Absolute dispersion  # Correlation  Meaning  Types: Uses of Index Numbers; Consumer price Index; Wholesale Price Index; Index of Industrial production; Inflation and index numbers  # Some Mathematical tools used in Economics  Slope of a curve  Slope of a line  Equation of a line

PART B: Indian Economic Development 

UNIT 4 (a): Development Experience (1947 to 1990) 

# A brief introduction of the state of Indian economy  # Common goals of Five year plans  # Agriculture  Main Features Policies  Problems  New agricultural strategy  Institutional aspects, etc  # Industry  # Foreign Trade

UNIT 4 (b): Economic Reforms Since 1991 

# Need and main features Globalization  Liberalization  Privatization  # Appraisal of LPG policies

UNIT 5 Lesson: Current Challenges Facing Indian Economy 

# Poverty  # Rural Development: Key issues  # Human Capital Formation # Employment  # Inflation  # Infrastructure  # Sustainable Economic Development

UNIT 6: Development Experience of India 

# A comparison with neighbours  # Issues

Syllabus of Economics Class 12th

PART A: Introductory Microeconomics 

UNIT 1: Introduction 

# Meaning of microeconomics and macroeconomics # What is an economy? # Central problems of an economy # Concepts of production possibility frontier and opportunity cost

UNIT 2: Consumer Equilibrium and Demand 

# Consumer’s Equilibrium  # Indifference Curve analysis  # Demand

UNIT 3: Producer Behaviour and Supply 

# Production Function  # Total Product  # Returns to a Factor  # Cost and Revenue  # Revenue  # Producer’s Equilibrium  # Supply

UNIT 4: Forms of Market and Price Determination 

# Perfect Competition  # Other Market forms  # Simple Applications of Demand and Supply

PART B: Introductory Macroeconomics 

UNIT 5: National Income and Related Aggregates 

# Some basic concepts  # Circular flow of Income  # Aggregates Related to National Income  # GDP and Welfare

UNIT 6: Money and Banking 

# Money: meaning and functions  # Supply of Money  # Money Creation by Commercial Banking System  # Central Bank and its functions

UNIT 7: Determination of Income and Employment 

# Aggregate Demand and it components  # Propensity to consume and save (marginal and average)  # Short-run equilibrium output  # Meaning of involuntary unemployment and full employment  # Problems: Deficient demand and excess demand

UNIT 8: Government Budget and the Economy 

# Government Budget  # Classification of receipts  # Classification of expenditure  # Measures of Government deficit

UNIT 9: Balance of Payments 

# Balance of Payments Account  # Foreign Exchange rate  # Determination of exchange rate in a free market

Courses to Pursue After 12th Commerce 

Those with a background in commerce who pass the class 12 exams can choose from a variety of career routes. Students in this field have access to government exams, professional courses, honours courses, and vocational courses. Following your performance in class 12th from Commerce, you can choose from the following popular courses:

• Bachelor of Computer Applications (BCA) 
• Bachelor of Business Administration (BBA) 
• Bachelor of Business Studies (BBS) 
• Bachelor of Management Studies (BMS) 
• Chartered Accountancy (CA) 
• Company Secretary Program (CS) 
• Master in Business Administration (MBA) 
• Chartered Financial Analyst Program (CFA) 
• Master of Commerce (M.Com) 
• Bachelor of Economics 
• Bachelor of Laws (LLB) 
• Hotel Management 
• Journalism and Mass Communication 
• Data Science and Analytics 
• Certified Public Accountant 
• Bachelor in Foreign Trade 
• Actuarial Sciences 
• Aviation Courses 
• Cost and Management Accountancy (CMA)
  

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