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Study Plan

Basis of Accounting — Study Plan

ICSE · Class 11 · Accountancy

A step-by-step study plan for Basis of Accounting, ICSE Class 11 Accountancy: what to learn first, what to practise and when to revise.

60 questions28 flashcards2 formulas & key relations5 concepts

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Study Plan

1
Day 1–2

Learn the Theory

Read the textbook chapter carefully. Note down definitions, formulas and key ideas. Focus on: 1. Meaning of Cash Basis of Accounting, 2. Meaning of Accrual Basis of Accounting, 3. Difference Between Cash Basis and Accrual Basis.

2
Day 3

Practise

Solve the textbook exercises and extra practice questions. There are 60 questions available for this chapter.

3
Day 4

Revise & Test

Revise key points without looking at your notes. Take a practice quiz and mark weak areas for another pass.

4
Day 7

Spaced Revision

Come back to Basis of Accounting after a week. Use flashcards for quick recall and try past exam questions on this chapter.

What to Focus On

  • Only cash transactions are recorded.
  • Income is recognized only on cash receipt.
  • Expense is recognized only on cash payment.
  • Income is recorded when earned or accrued.
  • Expense is recorded when incurred or due.
  • Both cash and credit transactions are recorded.
  • Cash basis records only cash transactions; accrual basis records cash and credit transactions.
  • Cash basis records income and expense only on cash movement.
  • Accrual basis records income and expense on earning or incurring.

Common Mistakes to Avoid

Cash basis and accrual basis mean the same thing because both are used to calculate profit.

Credit sales are recorded under cash basis because sales still happen.

Accrual basis records income only when cash is received, just like cash basis.

Memory Tips

Cash basis meaning

Accrual basis meaning

Cash basis follows cash only

Accrual basis includes credit transactions

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Frequently Asked Questions

What are the important topics in Basis of Accounting for ICSE Class 11 Accountancy?
Key topics in Basis of Accounting include Meaning of Cash Basis of Accounting, Meaning of Accrual Basis of Accounting, Difference Between Cash Basis and Accrual Basis, Which Basis Should Be Followed?. Study these first, then practise questions on each for Class 11 exams.
How should I revise Basis of Accounting for Class 11 exams?
Learn the core ideas first, then work through the 60 practice questions on Basis of Accounting. Revise 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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