127IntroductionA person who invests his hard earnedmoney into business whether big or smallexpects good returns. To calculate returnsbusinessman has to maintain systematic recordof all transactions. One of the primary functionof accounting is to provide vital informationfor decision making to external and internalusers. Book Keeping being defined assystematic record of business transactionsachieves this purpose. Also partnership Act,Companies Act, Co-operative Societies Actmakes it mandatory to keep recordssystematically for knowing operating results.Book-keeping and Accountancy is oneof the core subjects in Commerce faculty. It isa compulsory subject at graduate and post-graduate level. Book-keeping is no doubt oneof the most interesting, practically relevant andimportant subject for students aspiringprofessional courses like C.A. C.S andI.C.W.A.I.The object of introducing this subject atStd. XI is to develop conceptual understandingof principles of accounting system whichidentifies, analyses, classifies, measures,summaries and records all business transactionsin significant manner in separate set of books.The business transactions are firstrecorded in primary books and subsequentlyposted in the ledger. At the end of accountingyear it helps in presenting the financial positionand result of operation of that business. Henceaccounting is regarded as the language ofbusiness.Book Keeping and Accountancy is botha science as well as an art. As a scienceteacher, commerce teacher must follow basisassumptions and postulates systematically tounderstand why a particular thing is done in aparticular manner. As an Art students, commercestudents should be able to apply the skill inmaintaining books of account.The role of accounting has beendiverging with the changes in the economictrend as well as the effect of Globalisation,Liberalisation and Privatisation. The Board ofstudies for Book Keeping and Accountancyhas diverted its efforts to make the syllabusmore innovative, informative and practicaloriented which will enable students to facechallenges posed in todays competitive era.ObjectivesTo enable the students to1. Acquire knowledge of basic terms,definitions, concepts and conventions ofBook-Keeping and Accountancy.2. Understand business transactions and theireffects on business operations.3. Study different documents used forbusiness transactions by knowing theircontents and formats.4. Know and practice the basic principles ofBook-Keeping and Accountancy.5. Understand and practice the contents andspecimen of various books of account.6. Develop the skill of calculations andaccuracy.7. Develop the technique of entering thetransactions into the books of accountswith the understanding of their ultimateeffect on final accounts.8. Prepare the final accounts of proprietaryconcern, partnership firm, not for profitBook-Keeping and Accountancy (50)128organization and learn to analyze them.9. Ascertain profit or loss from incompleterecords.10. Learn to use computer in accounting.Std. XISr.No. Topic1. A. Introduction of Book-keeping andAccountancyA.1 Meaning and definitionA.2 ObjectivesA.3 Importance and UtilityA.4 Difference between Book-Keepingand AccountancyA.5 Basis of Accounting - Cash basisand Accrual basis.A.6 Qualitative characteristics ofaccounting informationA.7 Financial Accounting, CostAccounting, ManagementAccountingB. Basic Accounting TerminologiesB.1 Business Transactions - CashTransactions and Credit TransactionsB.2 GoodsB.3 Profit, loss-Operating and Non-operating profits, Normal gains andabnormal gains with examples.Difference between profit andIncomeB.4 Assets, Liabilities, Net-worth/Owners Equity Assets: Fixed/Current/Tangible/ Intangible/fictitiousB.5 Contingent LiabilityB.6 Capital, DrawingsB.7 Debtors, CreditorsB.8 Capital Expenditure, Revenue andDeferred Revenue ExpenditureB.9 Cash discount and Trade discountB.10 Solvent and InsolventB.11 Accounting YearB.12 Trading Concerns and Not forProfit ConcernsB.13 GoodwillC. Accounting Concepts, Conventionsand Principles and IndianAccounting standards conceptsand objectivesC.1 Meaning and ImportanceC.2 Business EntityC.3 Money measurementC.4 CostC. 5 ConsistencyC. 6 ConservatismC. 7 Going ConcernC. 8 RealizationC. 9 AccrualC.10 Dual AspectC.11 DisclosureC.12 MaterialityC.13 RevenueC.14 MatchingC.15 Accounting Standards2. A. Meaning and fundamentals ofDouble Entry Book-keepingSystemA.1 Study of Double Entry Book-keepingsystem.A.2 Advantages of Double Entry Book-keeping system.A.3 Comparison of Double Entry Book-keeping system with ConventionalAccounting system.B.Classification of Accounts andAccounting equations RulesB.1 Types of accounts-personal,Impersonal accounts- Real129accounts, Nominal accounts.B.2 Rules for different accounts forpassing entries.B.3 IllustrationsB.4 Accounting equations Assets,Liabilities, Revenue and capitalexpensesB.5 Brief: Explanation about IFRS3. Source documents required forAccounting3. 1 Meaning, contents and specimen.3. 2 Voucher-internal, external voucher3. 3 Petty cash and cash voucher3. 4 Cash and Credit memo3. 5 Receipt3. 6 Debit and Credit note3. 7 Pay-in-slip3. 8 Withdrawal slip3. 9 Cheque-Bearer, Order, Crossed,Account payee3.10 Bank pass book, Bank Statementand Bank advice4 Journal4.1 Meaning, Importance and utility ofJournal.4.2 Specimen of Journal4.3 Writing of Journal entries5. Subsidiary Books5.1 Meaning, need and specimen ofdifferent Subsidiary Books.5.2 Simple Cash Book with cashcolumn only5.3 Cash Book with cash and bankcolumns5.4 Analytical Petty Cash Book-imprestsystem.5.5 Purchase Book5.6 Sales Book5.7 Purchase Return Book5.8 Sales Return Book5.9 Bank Book5.10Journal Proper, Transactions ofDiscounts to be taken in JournalProper6. Ledger6.1 Meaning, need and contents ofledger be explained6.2 Specimen of ledger6.3 Posting of entries from Subsidiarybooks to ledger6.4 Balancing of ledger accounts.7. Bank Reconciliation Statement7.1 Meaning, need and importance7.2 Reasons for difference in bankbalance as per cash book andbalance as per bank pass book7.3 Specimen of Bank ReconciliationStatement7.4 Preparation of Bank ReconciliationStatement8. Trial balance8.1 Meaning and Purpose8.2 Specimen of Trial Balance8.3 Preparation of Trial Balance fromgiven balances of accounts.9. Errors and their rectification9.1 Meaning and effects of errors.9.2 Types of errors - Errors ofprinciples, Errors of Ommission,Errors of commission andCompensating Errors.9.3 Steps to locate errors9.4 Errors affecting and not affectingTrial Balance9.5 Treatment of balance of suspenseaccount9.6 Rectification entries10. Depreciation, Provisions and Reserves10.1 Depreciation : Meaning, Need andFactors affecting depreciation.13010.2Methods of computation ofDepreciation : Straight LineMethod, Written Down ValueMethod (Excluding Change inmethod)10.3Accounting Treatment ofDepreciation : By charging to assetaccount by creating Provision fordepreciation / accumulateddepreciation account.10.4Provisions and Reserves : Meaning,Objectives and Difference betweenprovisions and Reserves.10.5 Types of Reserves : RevenueReserve, Capital Reserve, GeneralReserve, Specific reserves, Secretreserves.11. Financial statements of ProprietaryconcernFinancial Statements- Meaning, objectiveand Importance11.1 Preparation of Trading Account11.2 Preparation of Profit and LossAccount11.3 Preparation of Balance Sheet11.4 Effects of following adjustments onlya. Closing stockb. Depreciationc. Bad and Doubtful debtsd. Provision for discount on Debtorsand Creditorse. Outstanding expensesf. Prepaid expensesg. Accrued incomeh. Income received in advancei. Drawingsj. Goods distributed as free sample12. Computer in Accounting12.1Introduction to Computer AccountingSystem :Components of CAS, Features,Grouping of Accounts, usingsoftware of C.A.S.12.2 Application of computer accountingAutomation of accounting process,designing accounting reports, dataexchange with other informationsystem.Project Work1. A study of non-operating expenses ofproprietory concern with examples anddocuments.2. A study of various policies of company asAS-2, AS-6 and AS-10 from annual report.3. A comparative study of conventional andmodern system of accounting.4. Analytical study of all assets ordocuments in your family.5. Collection of all types of documents usedin the banks and office.6. A report on organised exhibition on allsource documents in your college.7. Visit to any proprietory concern andpreparation of journal of 8 days with thehelp of business transactions.8. A record of different imaginerytransactions for 10 days of a new businesswith capital of 1,00,000, like Stationeryshop / Newspaper stall / Medical store /Vegetable stall.9. A study of account books maintained byMahila Bachat Gat in your area andpreparation of financial report.'10. Ledger accounts and trial balance of anybusiness concern with the help of ajournal.a13111. A report on procedure for opening varioustypes of bank accounts.12. A visit to factory or workshop or smallscale industry and a study of variousmethods adopted for calculation ofdepreciation.13. Final Accounts with the help of journal /subsidiary books of sole trading concern.14. Journalising of household transactions fora month.15. Effects on purchasing power of acustomer due to discount.16. Classification of family activities intomonetary and non-monetary activities.17. Preparation of Bank ReconciliationStatement from given extracts of Cashbook and Pass book balances. (at least15 reasons expected).18. An analytical study of 25 different ledgeraccounts.19. A project on the types of accounts relatedto goods.20. Any one Accounting Package.Note :The above list of projects is given onlyas guidelines. Students are free to selectany topic for project related to thesyllabus.Std. XIISr. No. Topic1. Introduction to Partnership1.1 Meaning and definitions1.2 The Indian partnership Act 19321.3 Methods of capital accountsi) Fixed Capital Methodii) Fluctuating Capital Method2. Partnership Final Accounts2.1 Introduction and Necessity ofpreparation of Final Accounts withfollowing adjustments.Adjustmentsa. Closing stockb. Outstanding expensesc. Prepaid expensesd. Income received in advancee. Income receivablef. Bad debtsg. Provision for doubtful debtsh. Reserve for discount on debtors andcreditorsi. Depreciationj. Interest on capital, drawings and loansk. Interest on investment and loansl. Goods destroyed by fire/ accident(insured / uninsured)m. Goods stolenn. Goods distributed as free sampleso. Goods withdrawn by partnersp. Unrecorded purchases and salesq. Capital expenditure included inrevenue expenses and vice-versar. Bills Receivable dishonoureds. Bills payable dishonouredt. Deferred expensesu. Capital receipts included in revenue.Receipts and vice-versav. Commission to working partner/Managers on the basis of Gross profit,Net profit, sales, etc.3. Reconstitution of Partnership3.1 Meaning and different ways ofreconstitution3.2 Admission of a partner3.2.1 Meaning and Need3.2.2Capital brought by new partner3.2.3 New profit sharing ratio3.2.4 Sacrifice ratio3.2.5 Goodwill - Meaning, Methods132of valuation and treatment ofgoodwill.i) Average profit methodii) Super profit method3.2.6Adjustment of accumulatedprofits and losses.3.2.7 Revaluation of assets andliabilities3.2.8 Adjustment of capitals3.3 Retirement / Death of a partner3.3.1 Meaning, need3.3.2 New ratio3.3.3 Gain ratio3.3.4 Treatment of goodwill3.3.5Adjustment of accumulatedprofits and lossess3.3.6 Revaluation of assets andliabilities3.3.7 Adjustment of capital3.3.8 Amount due to retiring parter3.3.9 Death of partner4. Dissolution of Partnership Firm4.1 Simple dissolution4.2 Dissolution under Insolvancy situation5. Accounts of Not for Profit concerns5.1 Introduction, meaning and features ofNot for Profit concerns.5.2 Receipts and Payments Account-meaning and features. Distinctionbetween Income and Expenditureaccount.5.3 Preparation of Income andExpenditure Account and BalanceSheet with the followinga) Additional Information1. Outstanding expenses and prepaidexpenses of the current and previousyear2. Accrued income and income receivedin advance3. Subscription received in advance andSubscription outstanding of the currentand previous year4. Depreciation5. Capitalisation of entrance fees.6. Creation of special funds out ofdonations7. Stock of stationery8. Opening balances of assets andliabilitiesb) Important ItemsEntrance fess, Subscriptions, Legacy,life membership fees, Sale of oldassets, Scrap, News papers, Specificdonation, General Donations, SpecificFunds, Endowment fund6. Single entry system6.1 IntroductionMeaning of single entry system.Difference between single entry anddouble entry system.6.2 Preparation of statements6.3 Additional information.Additional capitalDrawingsDepreciation on fixed AssetBad DebtsReserve for Doubtful DebtsUndervaluation and Overvaluation ofAssets and LiabilitiesInterest on loanInterest on capitalInterest on DrawingsPartners salaryOutstanding / Unpaid expensesPrepaid Expenses/ Expenses paid inadvance.Illustrations1337. Bill of Exchange (Only Trade Bill)7.1 Introduction, necessity, Meaning,Definition of Bill of Exchange7.2 Draft/format of Bills, Parties to theBill of Exchange, Acceptance of Bill,Terms of Bill, Days of Grace, Date ofmaturity, Due Date, Types of Bill7.3 Honouring of Bill, Dishonour of Bill,Noting and Protesting of Bill, NotaryPublic and Noting Charges7.4 Accounting Treatment of Bill by theDrawer/Holder and Drawee infollowing casesa) Retaining the Bill till due date.honour/dishonour, insolvency of thedrawee/ acceptorb) Endorsement of the Bill, Honour/dishonour and also insolvency ofacceptorc) Discounting the Bill with the Bankhonour/dishonour and insolvency.d) Sending the Bill to the Bank forcollection, honour/ dishonour andinsolvencye) Renewal of Bill-Reasons for Renewalof the Bill. Renewal of Bill with orwithout charging interestf) Making part payment of basic amount,interest and noting charges anddrawing of new Billg) Honour/dishonour of New Billh) Insolvency of the acceptor andsettlement of his accounti) Retirement of Billj) Journal Entries and Ledger8. Company Accounts Part-IAccounting for shares8.1 Share and share capital, Meaning,Nature and Types8.2 Accounting for Share Capital: Issueand Allotment of Equity Shares.Private placement of shares. Publicsubscription of shares. Oversubscription and Under subscriptionof shares. Issue at Par and premium,and at discount, Calls in advance inarrears, Issue of shares forconsideration other than cash8.3 Accounting treatment of forfeitureand re-issue8.4 Disclosure of Share capital inCompanys Balance Sheet(Horizontal form)9. Company Accounts Part-IIAccounting for Debentures9.1 Debentures : Meaning, Issue ofdebentures at par, at premium and atdiscount9.2 Issue of debentures for considerationother than cash. Interest onDebentures10. Analysis of financial statements10.1Financial statement Analysis:meaning, objectives and limitations10.2 Tools for financial statementAnalysis-meaning of comparativestatements, common size statements,cash flow analysis, and Ratio analysis10.3Accounting Ratios : Meaningobjectives and classification ofRatios10.4 Introductions to current ratio, liquidratio, Gross profit ratio, operatingprofit ratio and Net profit ratio. ROI,ROCI13410) Comparative study of Profit Organisationsand 'Not for Profit' organisations andanalysis of adjustments in final accountsof not for profit concern / organization.11) Preparation of Report on varioustreatments of Bills of Exchange (Tradebill)12) A visit to a cloth merchant who ismaintaining his books of accounts undersingle entry system. Preparation ofstatement of affairs and statement of profitor loss from the data collected.13) A visit to a Bank & preparation of areport on the procedure of discountingand collecting Hundies (Bills ofExchange)14) An interview with a sharebroker.15) A report on the procedure of opening aDEMAT Account.16) A report on the procedure of purchasingand selling of shares through DEMATAccount.17) Visit to a company and preparation ofinformative report on the procedure ofissue of shares or Debentures.18) A comparative study of different ratios tobe used in the Annual Report of acompany.Note :The above list of projects is given onlyas guidelines. Being creative andinnovative, students may select any topicfor project related to the syllabus.Project Work1) Visit to Partnership Firm and study themanagement of the firm and a report onit.2) A report on procedure of registration ofPartnership Firm under Partnership Act1932.3) Preparation of Financial statement withthe help of Journal / subsidiary books ofany partnership firm.4) Analylical study on various adjustmentsin Final Accounts of Partnership Firm.5) A report on procedure of winding upPartnership Firm.6) Study of the methods of valuation ofgoodwill and accounting treatment in caseof Admission, Retirement or Death of apartner.7) Visit to any not for profit concern. e.g.Library, Sports club, Mahila Bachat Gat,Public Hospitals, Educational Institutions,Temples, Masjids, Gurudwaras, GaneshMandal, etc. and preparation of a reporton such visit or visits.8) Analysis of the school / collegetransactions into revenue and capitalreceipts and revenue and capitalexpenditure.9) Study of revenue and capital receipts,revenue and capital expenditure ofminimum any ten non profit concerns.

135that business is an integral component of societyand develops an understanding of many socialand ethical issues. Besides, it also informsstudents of a range of study and work optionsand bridge the gap between Secondary andHigher secondary education.General ObjectiveTo develop students understanding oftheProcesses of business and its environment.To acquaint students with the dynamicnature and inter - dependent aspects ofbusiness.To help the students understand theeconomic and social significance ofbusiness activity.To acquaint students with the practice ofmanaging the operations and resourcesof business.To enable the students to be aware ofsocio economic and ethical dimensionsof business.To acquire with the knowledge of newtrends in the field of business.To enhance the interest of students whiledoing the practical work like projects.Specific ObjectivesTo acquire the knowledge of nature andscope of business, small business.To understand private, public and globalenterprises including Internal trade.To know about international business.To understand about business environment.Organization of Commerce and Management (51)IntroductionNow it becomes necessary to give formal,traditional, recent education in Commerce andIndustry along with practical knowledge so asto enable the students to have goodunderstanding of the basic concepts ofglobalised world and its relationship with thesociety.Council of Boards of School Educationin India ( COBSE) has taken the responsibilityof bringing out Common contents incommerce at + 2 stages of secondary level. Itis a dynamic process that brings togethertechnology, natural resources and humaninitiative in a constantly changing globalenvironment. Information Technology isbecoming a part of educational operations.Computerized systems are fast and replacingother systems. This curriculum will preparestudents to analyse, manage, evaluate andrespond to change which affects seriously. Itprovides a way of looking at and interactingwith the business environment.This syllabi introduces 80-20 pattern ofevaluation. Comprising 80 marks Theory and20 marks practical being need of the time.Practical approach is introduced. After doing acomparative study of syllabi of different Boardslike C.B.S.E, ICSE, regarding their syllabi at +2 level, this curriculum is prepared which showscommon contents in commerce at the nationallevel. The suggestions and recommendationsreceived from various Boards regardingcommerce subjects are considered in thiscurriculum. It allows students to appreciate136To know about marketing process.To understand the nature and significanceof management.Note :1) This syllabus is prepared according to theguidelines of N.C.F 2005.2) This syllabus is compared with CBSE andICSE Board XI and XII syllabi pattern.3) The instructions introduced in N.C.F. 2005 are included in this syllabus.4) While considering the N.C.F. 2005 it isobserved that in XI-syllabi unit No. 7 and8 and in XII syllabi unit No. 9 and 10, arealready included in the subject-SecretarialPractice in the current syllabus. In view ofthis, to avoid the repetation of the abovementioned units of Stds. XI and XII thesetopics are deleated.5) CBSE and ICSE BOARDS DO NOT havethe subjects Secretarial Practice and Co-operation. These subjects are availableonly in Maharashtra State. Hence, theBoard of studies proposes that no changeis necessary in S.P. and Co-operation asthese are newly constructed (Except,Business Finance to be included in S.P.)subjects.Std. XIUNIT-1 Nature and Scope of BusinessConcept and characteristics of businessBusiness, Profession and Employment-Meaning and distinctive features.Objectives of business-economic andsocial, role of profit in business.Classification of business activities-Industry and Commerce.Industry Types of industries- primary,secondary, tertiary.Commerce-Trade-Auxiliaries.Business risks nature and causes.UNIT-2 Small BusinessSmall scale industry- Tiny sector, cottageand rural industry.Role of small business in rural India.Problems of small business in India.Government Assistance and specialschemes for industries in rural, backwardand hilly areas.UNIT-3 Private, Public and GlobalEnterprises.Private Sector and Public Sector.Forms of organizing public sectorenterprises Departmental undertaking,Statutory corporation, Governmentcompany.Changing role of public sector.Global Enterprises (Multinationalcompanies)Joint Ventures meaning, benefits.UNIT- 4 Internal TradeMeaning and types of internal tradeWholesale Trade and Retail Trade.Services of a wholesaler and a retailer.Types of Retail Trade -Itinerant retailers and Fixed shops,Departmental store, Super market, Chainstores.Role of Chamber of Commerce andindustry.UNIT - 5 International BusinessNature, importance, scope andcomplexities involved in internationalbusiness.Basic information about ways of enteringinto international business.Contract manufacturing, licensing137franchising, joint ventures and setting upwholly owned subsidies.Export import procedures anddocumentation.Foreign Trade promotion organizationalsupport and incentives. Nature andimportance of export processing zone/Special Economic zones.International Trade Institutions andAgreement.W.T.O.UNCTAD, WORLD BANK, I.M.F.UNIT-6 Business EnvironmentBusiness Environment meaning andimportance.Dimensions of Business Environment Economic, social, Technological, politicaland legal.Economic environment in India. Impact ofGovernment policy changes on businessand industry with special reference toadoption of the policies of liberalizationprivatization and globalization.UNIT- 7 MarketingMarketing meaning, functions, role.Distinction between marketing and selling.Marketing Mix concept and elements-Product nature, classification, brandinglabelling and packaging.Physical distribution meaning, roleChannels of distribution meaning, types,factors determining choice of channels.Promotion meaning and role, promotionmix, Role of Advertising and personalselling objections to Advertising.Price factors influencing pricing.UNIT-8 Nature and significance ofmanagementManagement concept, objectives,importanceNature of management, management asScience, Art, profession.Levels of management top, middle,supervisory (first level).Special Note :Readers of this textbook may find someextra information in the various topics,which is related to the current referenceand changes in the commercial businessenvironment. The object of this informationis to give current changes and updatedreference to the students. No questionswill be set on this extra informationintroduced in the textbook.Some Subjects for Projects (Based onXI Syllabi)Organization of Commerce and Management1) Information about Automatic Machines2) Report of service industry3) Report of seasonal goods4) An interview of an Agent5) Different types of insurance policies6) Pictorial presentation & information abouta Mall7) Different / Samples of Quotations8) A visit to a manufacturing industry9) An interview of a wholesaler / Retailer10) An interview of two successfull self employed persons11) An interview of a Franchiser12) E Commerce: Need of todays businessworld13) Different attractive packagings14) A visit to a Bank15) Collection of banking instruments ofvarious banks(Cheques, Demand Drafts, Pass book,withdrawl, Pay- in- slips etc)13816) Employment opportunities arised due totransport17) Attractive Advertisements Advertisements in the news papers, T.V.media, Radio Advertising, etc.18) Report of Branded goods19) A visit to a warehouse20) A visit to well equipped commercial office.N.B Students are free to select any topicother than the topics given above butit must be related to the syllabusSpecific ObjectivesTo know about different forms of businessorganizations and Business services.To understand the emerging modes ofbusiness.To know about social responsibilities ofbusiness and business ethics.To understand the concept of consumerprotection and role of consumerorganisations.To understand the principles, functions ofmanagement.To know about Entrepreneurshipdevelopment.Std. XIIUNIT-1 Forms of businessorganizationsSole proprietorship, Joint Hindu FamilyBusiness meaning, features, merits anddemerits.Partnership meaning, types, registration,merits, limitations, types of partners.Co Operative societies types, meritsand limitations.Company Private Ltd, Public Ltd merits, limitations.Starting a business Basic factors.Choice of forms of business organizations.UNIT-2 Business servicesNature and types of Business services Banking, Insurance, Transportation,Warehousing, communication.Banking types of banks, functions ofcommercial banks, E banking.Insurance principles & types of life, fire,marine insurances.Postal and Telecom services.Warehousing types and functions.Transport meaning, role, means.UNIT -3 Emerging modes of BusinessE business Meaning, Scope andbenefits. Resource required for successfulE Business implementation.On linetransactions, payment mechanism.Security and safety of businesstransactions.Outsourcing Concept, need and scope.UNIT-4 Social Responsibilities ofbusiness and business ethics.Concept of social responsibility.Cases for social responsibility.Responsibility towards different interestgroups, owners, investors, employees,consumers, government, community, publicin general.Business ethics concept and elements.Business and environmental protection.UNIT-5 Consumer protectionImportance of consumer protection.Rights of consumersConsumer responsibilities.Ways and means of consumer protection.Consumer awareness and legal redressalwith special reference to ConsumerProtection Act.139Role of Consumer Organization andNGOS.UNIT-6 Principles of ManagementPrinciples of Management meaning,nature and significance.Fayols Principles of Management.Taylors scientific management Principlesand Techniques.UNIT-7 Functions of ManagementPlanning Meaning, Nature, Importance.Organizing Meaning, Nature, Importance.Staffing Meaning, Nature, Importance.Directing Meaning, Nature, Importance.Controlling Meaning, Nature,Importance.Co ordinating Meaning, Nature,Importance.UNIT-8 Entrepreneurship DevelopmentConcept, Functions and Need.Entrepreneurship: Characteristics andCompetencies.Process of entrepreneurship development.Entrepreneurship Values: Attitudes andMotivation- Meaning and concept.Some topics for Projects(Based on Std. XII Syllabus)List of Topics for projects1. An interview of sole trader2. Partnership firm :- process & procedure3. Joint Hindu family An affectionatebusiness4. Collection of Common seals of differentJoint stock companies and therelevant information about common seals5. Visit to a co-operative society, co-operativecredit societies, patpedhis,consumer co-operative stores and preparea report of such visits.6. Information about the businesses who areworking in the private and publicsector.7. Effects on environment (List ofinformation of industries)8. Information about the business groups whoare famous in their socialaccountability (e.g. Tata, Reliance, etc.)9. An interview of those persons who areaware of consumer welfare and their rights.10. Information about a training institute,giving training to consumers about Theirrights.11. Prepare a report of any cottage industrydoing planning on the basis of co-operation.12. Information about students co-operativestores.13. Plan and project report of any function.14. An interview of a eminent businessman.15. Detail information about the variousservices offered by a big business group.16. Information of any two business groupswho have secured I.S.O. 9000.17. How will you plan against any naturalcalamity in your area.18. How will you plan for keeping(maintaining) best highest Quality of thegoods produced by group.19. Information about the institute who givescareer guidance.20. Bad effects of various festivals on theenvironment.N.B Students are free to select any topic otherthan the topics given above;but that should be related to the topic ofthe syllabi.

140IntroductionNow it becomes necessary to give formal,traditional, recent education in Commerce andIndustry along with practical knowledge so asto enable the students to have goodunderstanding of the basic concepts ofglobalised world and its relationship with thesociety.Council of Boards of School Educationin India ( COBSE) has taken the responsibilityof bringing out Common content in commerceat + 2 stages of secondary level. It is a dynamicprocess that brings together technology, naturalresources and human initiative in a constantlychanging global environment. InformationTechnology is becoming a part of educationaloperations. Computerised systems are fastreplacing other systems. This curriculum willprepare students to analyse, manage, evaluateand respond to change which affects seriously.It provides a way of looking at and interactingwith the business environment.This syllabi introduces 80-20 pattern ofevaluation. Comprising 80 marks theory and20 marks practical. Being need of the time,practical approach is introduced. After doing acomparative study of syllabi of different Boardslike C.B.S.E, ICSE, regarding their syllabi at +2 level, this curriculum is prepared which showscommon content in commerce at national level.The suggestions and recommendations receivedfrom various Boards regarding commercesubjects are considered in this curriculum. Itallows students to appreciate that business isan integral component of society and developan understanding of many social and ethicalissues. Besides, it also informs students of arange of study and work options and bridge thegap between Secondary and Higher secondaryeducation.General ObjectivesTo develop an understanding of theprocesses of business and its environmentin students.To acquaint students with the dynamicnature and inter - dependent aspects ofbusiness.To help the students regarding theeconomic and social significance ofbusiness activity.To acquaint students with the practice ofmanaging the operations and resourcesof business.To enable the students to be aware ofsocio economic and ethical values ofbusiness.To acquire knowledge of new trends inthe field of business.To enhance the interest of students whiledoing the practical work like projects.Std. XISpecific ObjectivesTo acquire knowledge of the basic termSecretaryTo know about Joint Stock Company andmachinery monitoring Joint StockCompany, structural organization of JointStock Company and company meetings.To understand business correspondence,secretarial correspondence with Directors,Registrar, Banks and Insurance company.Secretarial Practice (52)141STD: XIUNIT -1 SecretaryMeaning, definition and importance.Types of secretaries:a) Personal b) Non profit Associationc) Co operative Society d) Joint StockCompany e) Government department(Qualifications, qualities and functions)UNIT-2 Joint stock companyEvolutionDefinition and FeaturesMerits and limitationsFormation of Joint stock Company Stages Promotion, Incorporation, Capital raisingand obtaining Trading CertificateDocuments related to the Formation of aJoint stock Company Memorandum ofAssociation, Articles of Association,Prospectus, Statement in lieu of prospectus(Meaning, purpose and contents of eachdocument).UNIT-3 Machinery monitoring Jointstock CompanyThe Central Governments Department ofcompany affairs.The Board of Company LawAdministration(Company Law Board / National companyLaw Tribunal )Registrar of Companies.Advisory Committee.Jurisdiction of court (brief outline of therole in monitoring mechanism)UNIT-4 Structural Organization of aJoint stock companyShareholders Acquisition of membership,rights and termination.Board of Directors Qualifications,appointment, Powers, duties.Managing Director Qualifications,appointment, powers, duties andremuneration.Auditor Meaning, functions, rights,appointment, remuneration and removal.Company Secretary Appointment, rightsand responsibilities, remuneration.UNIT - 5 Company MeetingsProvisions for convening and conductinga valid meeting.Provisions related to Notice, Agenda,Quorum, Proxy, Voting, Motions,Amendments, Resolutions, Minutes.Types of Meetings Statutory Meeting,Annual General Meeting, Extra OrdinaryGeneral Meeting, Meetings of Board ofdirectors.Role of a Company secretary relating toMeetings.UNIT - 6 Business CorrespondenceBasic principles of Businesscorrespondence.ImportanceLayout of a Business LetterEssentials of a good business letterPhysical appearance of business letterPrecaution to be taken while writingbusiness lettersUNIT-7 Secretarial correspondence7.1 Correspondence with DirectorsNotice of Meeting with agendaSending a brief report to directors whowere absent for meetingReminding the directors about theprovision regarding absenteeism ofconsecutive meetingsRequesting a director to be present at ameeting as an expertRemoval of a director1427.2 Correspondence with Registrar ofCompaniesFiling Statutory ReportFiling Annual ReportExtension of time for holding AnnualGeneral MeetingFiling special resolution with Registrar ofcompaniesAlteration in clauses of Memorandum ofAssociation and Articles of Association7.3 Correspondence with BanksOpening of an AccountStop paymentIssue of a Letter of Credit7.4 Correspondence with InsuranceCompaniesEnquiry about various policies regardingfire & marine Insurance.Asking for fire and marine policies.Informing insurance company aboutdamage of goods by fire/marine lossSettlement of claimStd. XIPROJECT WORK1) Interview of a personal secretary workingwith Doctor or any Professional.2) Report of a social organization like LionsClub, Rotary Club, Mahila Bachat gatetc.3) Informative report of a non profitassociation Hospital, Public Library,Sports club, Cultural Association etc.4) Visit report: Auditors office.5) Informative report about the office workdone by using computer.6) Interview of a promoter, Large scalebusinessman.7) Documents presentation: Memorandum ofAssociation, Articles of Association.8) Interview of a Secretary- Company/Otherinstitutes.9) Insurance proposals Fire insurance,Marine insurance10) Informative report of education loans givenby banks.11) Visit to the bank to open an Account12) Prepare proformas Notice, Agenda,Resolution etc.13) Report on visit to local co-operativeorganasation14) Report on company visit.Note :The above list of projects is given only asguidelines. Being creative and innovative,students may select any topic for projectrelated to the syllabus.Std. XIISpecific ObjectivesTo acquire the knowledge of businessfinance, sources of business finance.To understand the role of secretary in thecapital formation.To know about the declaration and paymentof dividend.To acquire the knowledge ofcorrespondence of a company secretarywith members, debenture holders anddepositors.To give the information about financialmarkets.UNIT 1 Business FinanceBusiness Finance Meaning, role,objectives of financial management.Financial planning Meaning and143importance.Capital structure Meaning and factors.Fixed and working capital Meaning andfactors affecting their requirements.UNIT-2 Sources of Business FinanceNature and significance: Financialrequirements and sources.Methods of raising financeEquity and preference sharesDebentures and BondsRetained profitsPublic depositsLoan from commercial banksLoan from financial institutionsTrade creditDiscounting of bills of ExchangeGlobal Depository Receipt, AmericanDepository ReceiptUNIT-3 Role of a Secretary in theCapital Formation Part IMeaning of issue of shares at par, premiumand discount, at bid priceMeaning of Initial public offer.Meaning of bonus issueMeaning of rights issueMeaning of Employee stock option schemeMeaning of private placement.Issue of shares procedureAllotment Meaning, conditions for validallotment, procedureTransfer and Transmission of shares Meaning, provisions, procedure, difference.Issue of share certificate and share warrant Meaning, provisions, procedure,difference.UNIT-4 Role of a Secretary in theCapital Formation Part IIIssue of debentures procedure,conversion and redemption of debenturesDeposits invitation, acceptance, renewal,repayment, default and remediesDepositories and dematerialization ofsecurities meaning, importance,procedure, secretarial duties in issuingsecurities in dematerialized formUNIT-5 Declaration and payment ofdividendMeaningProvisions related to ascertainment ofdividend, declaration of dividend andpayment of dividend.Procedure of payment of dividend.Provisions regarding unpaid / unclaimeddividendInterim and final dividend Meaning anddifferenceUNIT-6 Correspondence of companysecretary with members,debenture holders anddepositorsAllotment of sharesRegret letterLodgement noticeApproval / Refusal of Transfer of sharesIssue of bonus sharesDistribution of dividend noticeAllotment of debenturesRedemption of debenturesConversion of debentures into sharesPayment of interest on debenturesLetter thanking the investor for depositsPayment of interest (Basic information ofTDS to be given)Renewal of depositsRepayment of depositsUNIT -7 Financial marketsConcept of Financial marketMoney market nature, instruments.144Capital market- nature and constituents primary and secondary market.Distinction between capital market andmoney market.Stock Exchange meaning, functions,BSE, NSEI, Trading procedure.Securities Exchange Board of India(SEBI) objectives, functions.PROJECT WORK - Std. XII1) Specimen presentation of different kindsof share certificates.2) Specimen presentation of different kindsof debenture certificates.3) Interview report of an underwriter.4) Functional report of SEBI.5) Visit report Financial institution otherthan bank.6) Presentation of prospectus and yourobservations.7) Introduction to latest instruments of debts (Refer Economic Times, Business Today,internet).8) Informative report of public deposits offerby company.9) Informative report of DEMAT account.10) Report about dividend policy of anycompany.11) Specimen presentation of letters issued bycompany(Do not use specimen letters given in thebook).12) Collection of news clippings about sharemarket.13) Functional report of stock exchange.14) Prepare specimen Dividend warrant,Interest warrantNote The above list of projects is given only asguidelines. Being creative and innovative,students may select any topic for projectrelated to the syllabus.

124IntroductionThe Framework of this curriculum isbased on National Economic Policy to explainthe students the nature of Indian Economy.Problems of Population explosion, Poverty,Unemployment, Measures to remove theseproblems. What are the Infra-structure facilitiesin the country, its development and itsimportance is included in the curriculum.To make the students understand theabove problems. This subject should beexplained at Micro and Macro level. In futurethis curriculum will help students for highereducation.General Objective1) To make the students understand thechanges in Indian Economy and problemsfaced by the economy.2) To make them inquisitive about the infrastructural facilities in Indian Economy.3) To explain to them the Principles ofMicro & Macro Economics4) To make students aware of concepts likeMoney, Banking, National Income, Publicbudget etc.5) To create awareness among the studentsregarding qualities required for skilledentrepreneur (Leadership qualities)Specific objectives1) To help the students to understand thebasic concepts of economic growth &economic development.2) To develop ability of student to understandthe challenges before the Indian Economy.3) To create interest among the students toknow the dynamic nature of IndianEconomy and arising problems. In orderto create economic equality, weaker andsocially deprived groups are to be involvedin the process of economic development.4) To create awareness among students aboutobjectives of new economic policy.5) To prepare the students to understand theprocess of economic planning in IndianEconomy.6) To understand the basic Infra structuralfacilities of Indian Economy.7) To motivate the students to collect,organize and classify graphical presentationof statistical data.8) To motivate skillful abilities of the studentsto make graphical presentation of data.9) To introduce students, Index numbers andconstruction of Index numbers.10) To prepare them to make use of thetechnical knowledge of the curriculum intheir day to day life.Std. XIA Section Indian Economicdevelopment1) Economic development & Economicgrowth2) Quality of human life Introduction Physical quality of Life Index & HumanDevelopment Index.3) Major challenges before Indian Economya) Populationb) PovertyEconomics (49)125c) Unemployment4) Economic Reforms since 1991 & its mainfeatures.a) Liberalisationb) Privatisationc) Globalisation5) Economic Planninga) Meaning and objectivesb) 10thFive year plan a study6) Infra structural development in India.B Section Introduction to statistics7) Introduction to statistics8) Collection & organization of Data9) Graphical presentation of data10) Measures of Central TendencyMean, Median & Mode11) Index Numbers.Std. XIISection AMicro Economics1. Introduction to Micro Economics2. Consumers behavior3. a. Analysis of Demandb. Elasticity of Demand4. Analysis of Supply5. Types of Market & Price determinationunder Perfect competition6. Factors of ProductionSection BMacro Economics7. Introduction to Macro Economics8. National Income9. Determinants of Aggregates10. Money11. Commercial Bank12. Central Bank13. Public EconomicsStd Xi - EconomicsTopics for Project (20 Marks)1) Comparative study of some families basedon income, expenses on health, education,entertainment etc.2) An interview of an entrepreneur.3) Study of the relationship between povertyand size of family.4) Information about the relationshipbetween number of children in a familyand standard of living.5) Report of visit to Employment Exchange.6) Information about jobs created throughEmployment Guarantee Scheme.7) An interview of self-employed persons.8) Visit to Agriculture College/IndustrialTraining Institute/District IndustrialCentre.9) Information about economic & socialinequality existing in various families.10) Study of the effects of globalization onrural and urban families.11) Information about Placement Agencies.12) Study of impact of New Economic Policyon agriculture/industry/ service sector.13) Information about families using solarenergy (solar cooker, solar water heateretc.)14) Visit to places using non-conventionalenergy sources.15) An interview of some people using publictransport.16) An interview of some people using privatetransport.17) Collect information from newspaperrelated to different economic events,during fifteen days.18) Collect the data from 25 familiesregarding number of family members,126sex, age, education and occupation. Fromthe collected data, classify familiesaccording to number of members perfamily, sex wise distribution, agedistribution of all members, educationwise distribution, occupationaldistribution.19) Collect prices of 7 commodities on the1stday of the month and on the last dayof the month and find price Indexnumbers using Simple Aggregate Methodand Average of price relatives methods.20) Information about employmentopportunities arising due to differentmodes of transport.Note :The above list of projects is given onlyas guideline.Std. XIIEconomic Topics for Project (20 Marks)1) Visit any cottage industry and collectinformation about its income andexpenses.2) Visit some families and note downobservations regarding how utility ofdifferent commodities is subjective andrelative.3) Prepare a chart for Marginal Utility andTotal Utility of any commodity consumedby you.4) Comparative study of individual demandschedules of any one commodity of twofamilies.5) Visit a grocery shop and collectinformation about changes in demandand changes in price of wheat for theperiod of 5 months.6) Visit retailers of any commodity & collectinformation about prices & supply.7) Collect information about prices chargedfor toothpaste, bathing soap etc. bydifferent firms under monopolisticcompetition.8) An interview of an entrepreneur.9) An interview of skilled and unskilledlabour engaged in different sectors.10) Survey of people using credit cards &debit cards.11) Visit any Commercial Bank & collectinformation about its functioning.12) Collect information of different Bankinginstruments like cheques, demand drafts,etc.13) Collect information about E-Banking14) Collect information about changes in thepolicies of Reserve Bank of India.15) Collect information of the current budgetfrom newspaper.Note : The above list of projects is given onlyas guideline.

127IntroductionA person who invests his hard earnedmoney into business whether big or smallexpects good returns. To calculate returnsbusinessman has to maintain systematic recordof all transactions. One of the primary functionof accounting is to provide vital informationfor decision making to external and internalusers. Book Keeping being defined assystematic record of business transactionsachieves this purpose. Also partnership Act,Companies Act, Co-operative Societies Actmakes it mandatory to keep recordssystematically for knowing operating results.Book-keeping and Accountancy is oneof the core subjects in Commerce faculty. It isa compulsory subject at graduate and post-graduate level. Book-keeping is no doubt oneof the most interesting, practically relevant andimportant subject for students aspiringprofessional courses like C.A. C.S andI.C.W.A.I.The object of introducing this subject atStd. XI is to develop conceptual understandingof principles of accounting system whichidentifies, analyses, classifies, measures,summaries and records all business transactionsin significant manner in separate set of books.The business transactions are firstrecorded in primary books and subsequentlyposted in the ledger. At the end of accountingyear it helps in presenting the financial positionand result of operation of that business. Henceaccounting is regarded as the language ofbusiness.Book Keeping and Accountancy is botha science as well as an art. As a scienceteacher, commerce teacher must follow basisassumptions and postulates systematically tounderstand why a particular thing is done in aparticular manner. As an Art students, commercestudents should be able to apply the skill inmaintaining books of account.The role of accounting has beendiverging with the changes in the economictrend as well as the effect of Globalisation,Liberalisation and Privatisation. The Board ofstudies for Book Keeping and Accountancyhas diverted its efforts to make the syllabusmore innovative, informative and practicaloriented which will enable students to facechallenges posed in todays competitive era.ObjectivesTo enable the students to1. Acquire knowledge of basic terms,definitions, concepts and conventions ofBook-Keeping and Accountancy.2. Understand business transactions and theireffects on business operations.3. Study different documents used forbusiness transactions by knowing theircontents and formats.4. Know and practice the basic principles ofBook-Keeping and Accountancy.5. Understand and practice the contents andspecimen of various books of account.6. Develop the skill of calculations andaccuracy.7. Develop the technique of entering thetransactions into the books of accountswith the understanding of their ultimateeffect on final accounts.8. Prepare the final accounts of proprietaryconcern, partnership firm, not for profitBook-Keeping and Accountancy (50)