Question

Story line for accounts project class 11

Answer 1

In Accounting, it is for the first time that the Project Work is introduced at XI class for 10 marks. At this level, the accountancy teachers require to help the students in the project in the following ways

1. To provide knowledge to the students about Accounting Process.
2. Give the imaginary transactions data.
3. Show the original source document (Which is easily available).
4. To train the students for preparing vouchers.
5. Tell the students how to record transaction from vouchers.
6. To motivate students to collect various source documents.
7. To encourage students to prepare books of accounts with the help of vouchers.

So, the commerce teacher will play a important role in preparation of project in class XI. The teacher may provide various transactions to the students. Some transactions are given below :

Ayan started business under the name AYAN & BROTHERS at NOIDA on April 1, 2011 to deal in Books and Stationary material. He introduced 5,00,000 as capital out of which 1,00,000 was in cash and balance by cheque. He enclosed the original papers relating to his business transactions for the month of April, 2011.

Students should analyse the transaction on the basis of these papers and process the information through :
various stages of accounting cycle.
Preparation of vouchers for each financial transaction.
Recording in the journal and subsidiary books.