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Depreciation, Provisions and Reserves

Haryana Board · Class 11 · Accountancy

Complete topic list for Depreciation, Provisions and Reserves in Haryana Board Class 11 Accountancy. Key concepts, sub-topics, and what to focus on for board exams.

102 questions22 flashcards5 concepts

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4 Topics · Haryana Board Class 11 Accountancy

Topics in Depreciation, Provisions and Reserves

1

Section I: Depreciation

  • Depreciation is the decline in value of fixed assets due to use, passage of time, or obsolescence
  • It's an expired cost charged against revenue of accounting period
  • Depreciation is a non-cash expense that doesn't involve cash outflow
2

Methods of Recording Depreciation

  • Two methods: (1) Charging to Asset Account, (2) Creating Provision for Depreciation Account
  • Method 1: Asset appears at written down value in Balance Sheet
  • Method 2: Asset appears at original cost, with separate Provision for Depreciation
3

Section II: Provisions

  • Provision is charge against profit for known liability with uncertain amount
  • Created to follow prudence/conservatism principle
  • Must be created even if no profits exist
4

Section III: Reserves

  • Reserve is appropriation of profit after calculating net profit
  • Created to strengthen financial position or for specific purposes
  • Cannot be created unless profits exist

Key Concepts

Depreciation is the decline inUnder this methodDepreciation is charged at a fixedProvisions are charges against profit createdReserves are appropriations of profit retained

Frequently Asked Questions

What are the important topics in Depreciation, Provisions and Reserves for Haryana Board Class 11 Accountancy?
Depreciation, Provisions and Reserves covers several key topics that are frequently asked in Haryana Board Class 11 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Depreciation, Provisions and Reserves — Haryana Board Class 11 Accountancy?
Understand the core concepts first, then work through the 102 practice questions available for this chapter. Revise formulas and definitions regularly, and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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