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Chapter 1AccountancyCBSE Class 11

Introduction to Accounting

Introduction to Accounting is Chapter 1 of NCERT Class 11 Accountancy. The chapter covers Introduction, Meaning of Accounting, Accounting as a Source of Information, Objectives of Accounting, and more. Use this public guide to revise the official topic structure before asking Lerno for step-by-step help.

6 topicsChapter 1 of 6
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Topics covered

6 sections
01

Introduction

Introduction
02

Meaning of Accounting

IntroductionEconomic EventsIdentification, Measurement, Recording and CommunicationOrganisationInterested Users of Information
03

Accounting as a Source of Information

IntroductionQualitative Characteristics of Accounting Information
04

Objectives of Accounting

IntroductionMaintenance of Records of Business TransactionsCalculation of Profit and LossDepiction of Financial PositionProviding Accounting Information to its Users
05

Role of Accounting

Introduction
06

Basic Terms in Accounting

IntroductionEntityTransactionAssetsLiabilitiesCapitalSalesRevenuesExpensesExpenditureProfitGainLossDiscountVoucherGoodsDrawingsPurchasesStockDebtorsCreditors

Key concepts

IntroductionMeaning of AccountingAccounting as a Source of InformationObjectives of AccountingRole of AccountingBasic Terms in AccountingIntroductionEconomic EventsIdentification, Measurement, Recording and CommunicationOrganisation

Practice questions

Frequently asked

What is covered in Introduction to Accounting?

Introduction to Accounting is Chapter 1 in NCERT Class 11 Accountancy. The verified chapter structure includes Introduction, Meaning of Accounting, Accounting as a Source of Information, Objectives of Accounting, Role of Accounting.

How should I revise Introduction to Accounting?

Revise the chapter topic by topic: start with Introduction, Meaning of Accounting, Accounting as a Source of Information, then practice questions that mix definitions, examples, and application steps.

Can I use Lerno for Class 11 Accountancy questions?

Yes. Lerno is built for CBSE students and uses NCERT-grounded context so students can ask for explanations, practice prompts, and step-by-step guidance for this chapter.

Study prompts

1

Explain Introduction from Introduction to Accounting and give one NCERT-style example or practice step.

2

Explain Meaning of Accounting from Introduction to Accounting and give one NCERT-style example or practice step.

3

Explain Accounting as a Source of Information from Introduction to Accounting and give one NCERT-style example or practice step.

4

Explain Objectives of Accounting from Introduction to Accounting and give one NCERT-style example or practice step.

5

Explain Role of Accounting from Introduction to Accounting and give one NCERT-style example or practice step.

6

Explain Basic Terms in Accounting from Introduction to Accounting and give one NCERT-style example or practice step.

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Practice QuestionsChapter-wise NCERT-aligned questionsSolutions GuideStep-by-step approach per topicChapter ExplanationTopic map for structured revision

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