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Syllabus

Basis of Accounting — Syllabus

ICSE · Class 11 · Accountancy

What Basis of Accounting covers in ICSE Class 11 Accountancy: 4 topics, for the 2026-27 session. Part of the ICSE Class 11 Accountancy syllabus.

60 questions28 flashcards2 formulas & key relations5 concepts

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4 Topics · ICSE Class 11 Accountancy · 2026-27

Topics in Basis of Accounting

1

1. Meaning of Cash Basis of Accounting

  • Under cash basis, expenses are recorded only when they are paid in cash.
  • Under cash basis, incomes are recorded only when they are received in cash.
  • Only cash transactions are recorded; credit transactions are not recorded until cash changes hands.
2

2. Meaning of Accrual Basis of Accounting

  • Under accrual basis, incomes are recorded when they are earned or accrued, whether cash is received or not.
  • Expenses are recorded when they are incurred or become due, whether cash is paid or not.
  • Credit sales are included in total sales of the period.
3

3. Difference Between Cash Basis and Accrual Basis

  • Cash basis records only cash transactions; accrual basis records both cash and credit transactions.
  • Cash basis records incomes when received and expenses when paid; accrual basis records incomes when earned and expenses when incurred.
  • Cash basis ignores outstanding expenses, prepaid expenses, accrued income, and income received in advance; accrual basis does not ignore them.
4

4. Which Basis Should Be Followed?

  • The basis of accounting depends on the attitude and outlook of the organization.
  • Conservative organizations may adopt the hybrid system of accounting.
  • The hybrid system combines features of cash basis and accrual basis.

Key Concepts

Central concept: Basis of Accounting

Cash Basis of AccountingAccrual Basis of AccountingHybrid System of AccountingComparison Between BasesMatching PrincipleLegal Recognition

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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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