Commerce Class 11 ISC (Science) CISCE Topics and Syllabus

• Concept of Business 
  • Meaning and Features Business
• Business, Profession and Employment 
  • Meaning and Features of Business, Profession and Employment
  • Difference of Business, Profession and Employment
• Objectives of Business - Economic and Social 
• Role of Profit in Business 
• Objectives of Business - Human and National 
• Classification of Business Activities 
  • Activities on the Basis of Size

  1. Small Scale
  2. Large Scale

  • Activities on the Basis of Ownership

  1. Private Enterprises
  2. Public Enterprises
  3. Joint Enterprises

  • Activities on the Basis of Function

  1. Industry
  2. Commerce
• Meaning of Industry 
• Types of Industries - Primary 
  • Meaning of Primary Industries
  • Subgroups of Primary Industries
• Types of Industries - Secondary 
  • Meaning of Secondary Industries
  • Subgroups of Secondary Industries
• Types of Industries on the Basis of Size(Micro,Small,Medium and Large) 
• Role of Small Businesses in India 
• Classification of Human Activities - Economic and Non-economic 
  • Economic Activities
  • Non-Economic Activities
  • Economic Activity Vs. Non-Economic Activity
• Types of Economic Activities 
  • Employment
  • Profession
  • Business
• Nature and Functions of Commerce 
• Importance of Commerce 
• Branches of Commerce 
• Trade and Aids to Trade 
• Relationship Between Commerce, Trade and Industry 

Classification of human activities - economic and non economic.

• Classification of human activities - economic and non-economic. Types of economic activities.
• Distinction between business, profession and employment

Definition and concept of business; classification of business activities

• Definition of business. Characteristics of business. Classification of business activities

1. Industry: types of industries on the basis of activity (primary and secondary) and on the basis of size (micro, small, medium and large). Role of small businesses in India.
2. Commerce: branches of Commerce. Commerce - its nature and functions; importance of Commerce. Branches of Commerce - trade and aids to trade. Relationship between commerce, trade and industry

• Business objectives.
• Business objectives: economic; social; human and national. Role of Profit in business

• Meaning of Business Organisations 
• Characteristics of Business 
  • Production or Procurement of Goods
  • Sale, Transfer or Exchange
  • Dealing in Goods and Services
  • Regularity of Dealings
  • Profit Motive
  • Element of Risk
• Types of Business Organisations 
  • Private sector
  • Public sector
  • Public private partnership(PPPs) or Joint sector
• Comparison Between Different Types of Organizations 
• Concept of Sole Proprietorship Or Sole Trader 
  • Meaning and Features of Sole Proprietorship Or Sole Trader
• Merits of Sole Proprietorship Or Sole Trader 
• Limitations of Sole Proprietorship Or Sole Trader 
• Objectives of Sole Trader 
• Concept of Partnership 
• Registration of a Partnership Firm 
• Concept of Partnership-deed 

  Meaning and Features of Partnership-deed

• Types of Partners 
  • Active
  • Sleeping
  • Secret
  • Nominal
  • Partner by estoppel
  • Minor Partner
  • Partner by Holding out
  • Partner in profit only
• Evaluation of Partnership 
• Merits and Demerits of Evaluation of Partnership 
• Comparison of Sole Proprietorship and Partnership 
• Stages for Formation of Company 
• Meaning of Joint Stock Company 
• Features of Joint Stock Company 
• Merits of Joint Stock Company 
• Demerits of Joint Stock Company 
• Objectives of Joint Stock Company 
• Meaning of Promotion (Corporate Organisations) 
• Role of Promotion (Corporate Organisations) 
• Types of Promoters 
• Meaning of Incorporation of a Company 
• Steps of Incorporation(Including Filing of Documents) 
• Certificate of Incorporation 
• Memorandum of Association(MOA) 
  • Meaning and Content of Memorandum of Association(MOA)
• Articles of Association(AOA) 
  • Meaning and contents of Articles of Association(AOA)
• Stages in the Formation of a Company 
  • Commencement of Business 
    • Steps of Commencement of business
• Prospectus and Statement in Lieu of Prospectus 
  • Meaning and content of Prospectus and Statement in Lieu of Prospectus
• Types of Companies 
  • Classification of Companies on the Basis of Incorporation
  • Classification of Companies on the basis of Membership
  • Classification of Companies on the basis of Liability
  • Classification of Companies on the Basis of Control
  • Classification of Companies on the Basis of Nationality
• Public and Private Companies and Their Studies 
• Privileges of Private Companies 
• Meaning of Co-operative organisations 
• Characteristics of Co-operative Organisations 
• Advanatages of Co-operative organisations 
• Disadvantages of Co-operative Organisations 
• Types of Cooperative 
  • Consumers Cooperatives
  • Producers Cooperatives
  • Marketing Cooperatives
  • Credit Cooperatives
  •  Housing Cooperatives
  • Cooperative Farming Societies
• Distinction Between Joint Stock Companies and Cooperative Organizations 

Introduction to business organizations.

• Meaning, characteristics, types (private sector, public sector, Public Private Partnership (PPPs) /Joint Sector). Comparison between different types of organizations.

Sole trader - objectives; formation; merits and demerits

• Meaning and definition of sole trader; characteristics and objectives of sole trader; merits and demerits.

Partnership

• Meaning, features; types of partners and partnership firms.
• Meaning and definition of partnership; features of partnership firms; types of partners and partnerships
• Registration of Partnership firms
• Formation, meaning and contents of partnership deed; registration and consequences of non registration.
• Evaluation of partnership; merits and demerits. Self-explanatory.
• Comparison of sole proprietorship and partnership.
• Self-explanatory.

Corporate Organisations

• Joint Stock Company: meaning, features, merits, demerits and objectives
• Stages of Formation of a Company.
• Promotion, meaning, role and types of promoters.
• Incorporation of a company - Meaning and steps of incorporation (including filing of documents), certificate of incorporation
• Memorandum of Association and Articles of Association (excluding alterations) and distinction between the two documents.
• Meaning and contents of MOA and AOA. Distinction between the MOA and AOA.
• Commencement of business.
• Steps, Certificate of Commencement.
• Prospectus and statement in lieu of prospectus – meaning and contents only
• Types of companies- Classification of companies on the basis of mode of incorporation, liability of members, public interest, ownership, control and nationality
• Public and private companies and their comparative studies, privileges of private companies.
• Global enterprises – Meaning, characteristics, merits and demerits of Global Enterprises.

Public Sector Undertakings

• Meaning; characteristics, objectives, role and forms of Public Sector Undertakings (Departmental Undertakings, Public Corporations and Government Companies)
• Public Sector Undertakings – meaning; characteristics, objectives, role and criticisms. Forms of Public Sector Undertakings (Departmental undertakings; Public Corporations and Government companies – definitions, features, merits and demerits)

Public Private Partnerships

• Meaning and features of PPPs

Co-operative organisations - meaning; characteristics and types

• Co-operative organizations - meaning; characteristics, advantages and disadvantages; Types of cooperative organizations, distinction between joint stock companies and cooperative organizations.

• Concept of Social Responsibility 
  • Introduction
  • Definition
  • Concept of Social Responsibility
  • Need for Social responsibility

  • Concept of Trusteeship
  • Changing expectations of society
  • Reputation
  • Protection of Environment
  • Optimum Utilisation of Resources
  • Pressure of trade Union
  • Growth of Consumer Movement
  • Government Control
  • Long term self-interest
  • Complexities of Social Problems
  • Globalisation
  • Role of Media
• Responsibility Towards - Owners 
• Responsibility Towards - Investors 
• Responsibility Towards - Consumers 
• Responsibility Towards - Employees 
• Responsibility Towards - Government 
• Responsibility Towards - Community 
• Meaning of Environment Protection and Business 
• Concept of Business Ethics 
  • Introduction
  • Meaning
  • Definition
  • Features of Business Ethics

  • Code of conduct
  • Based on moral and social values
  • Gives protection to social groups
  • Provides basic framework
  • Voluntary
  • Requires education and guidance
  • Relative term
  • New concept

  • Moral and social values
• Importance of Business Ethics 

• Concept and need for social responsibility.
• Responsibility towards owners, investors, consumers, employees, government and community; Responsibility of business towards protection of environment; Meaning and importance of Business ethics.

• Concept of E-business 
  • Meaning of E-Business
  • Nature of E-Business
• Resources Required for Successful E-business Implementation 
• Security and Safety of Business Transactions 
• Concept of Outsourcing 
  • Meaning of Outsourcing
  • Parties involved - the Outsourcer, the outsourced and the Service Provider
  • Features of Outsourcing
• Need of Outsourcing 
• Scope of Outsourcing 
• Concept of Business Process Outsourcing(BPO) 
  • Meaning and Features of Business Process Outsourcing(BPO)
• Needs of Business Process Outsourcing(BPO) 
• Scope of Business Process Outsourcing(BPO) 
• Knowledge Process Outsourcing (Kpo) 
  • Meaning and Features of Knowledge Process Outsourcing (KPO)
  • Introduction
  • Meaning
  • Definition
  • Advantages and Disadvantages of KPO
• Need of Knowledge Process Outsourcing (KPO) 
• Scope of Knowledge Process Outsourcing (KPO) 
• Meaning of Smart Cards and ATM’s 
• Utility of Smart Cards and ATM’s 
• Online Transaction 
  • Introduction
  • Meaning
  • Procedure of Online Transaction
  • Buying Selling Process
• Payment Mechanism 

E-business.

• Scope and benefits, Resources required for successful e-business implementation, online transactions, payment mechanisms, security and safety of business transactions.

Outsourcing

• Concept, need and scope of BPO and KPO

Smart Cards

• Meaning and utility.

• Meaning and Importance of Stock Exchange 
• Services of Stock Exchange 
• Stock Exchange 
  • Origin, Meaning and Definition
  • Functions of Stock Exchange
  • Trading Procedure of Stock Exchange
• Major Stock Exchanges in India (BSE, NSE, DSE, ASE) 
  • Types of Stock Exchanges in India
  • Location of Stock Exchanges in India
• Types of Operators 
  • Brokers
  • Jobbers
  • Bulls and Bears
• Terms Used in Stock Exchange 
• Securities and Exchange Board of India (SEBI) 
  • Objectives of the Securities and Exchange Board of India (SEBI)
  • The function of the Securities and Exchange Board of India (SEBI)
  • stock exchanges, stockbrokers, merchant bankers, depositories, mutual funds, and credit rating agencies.

• Meaning and importance.
• Functions and services.
• Major Stock Exchanges in India (BSE, NSE, DSE, ASE) – types and locations.
• Types of operators – Brokers, Jobbers, Bulls and Bears.
• Terms used in Stock Exchange - ex-dividend, cum dividend, spot delivery, forward delivery.
• SEBI – functions and objectives.
• Self-explanatory

• Wholesale Trade and Retail Trade 
• Meaning of Wholesalers 
  • Definition
• Services of Wholesaler to Retailer, Customer and Producer 
• Meaning of Retail Trade 
  • Definition
• Characteristics of Retail Trade 
• Types of Retail Trade - Itinerant and Small Scale Fixed Shops 
• Large Scale Retailers 
  •  Departmental stores Concept
  • Chain stores Concept
  • Mail order Business Concept
• Types of Retail Trade - Mail Order Houses 
• Types of Retail Trade - Tele Shopping 
• Types of Retail Trade - Franchise 
• Types of Retail Trade - Consumer Cooperative Stores 
• Types of Retail Trade - Hypermarkets 
• Concept of Automatic Vending Machine 
• Basic Function of Chambers of Commerce and Industry 
• Roles of Chambers of Commerce and Industry 
• Documents and Procedure Used in Home Trade 
• Price Quotations 
  • cash discount
  • trade discount

• Wholesalers.
• Meaning and services of wholesaler to retailer, customer and producer
• Retail trade – Meaning and characteristics
• Retail trade - meaning, characteristics of retail trade. Distinction between wholesale and retail trade.
• Types of retail trade - Itinerant and small scale fixed shops: departmental store, chain store, mail order houses, tele shopping, franchise, consumer cooperative stores, hypermarkets and automatic vending machines
• Meaning, features, merits and demerits to be covered.
• Role of Chambers of Commerce and Industry and Trade Associations.
• Meaning and functions of Chambers of Commerce and trade associations

• Concept of International Trade 
  • Export Trade
  • Import Trade
  • Entrepot Trade
• Advantages of International Trade 
• Disadvantages of International Trade 
• Problems of International Trade 
• Difference Between Internal Trade and External Trade 
• Meaning of Export Trade 
  • Export and Import Bank (EXIM Bank)

  • Main Functions of EXIM Bank 

  • Role of Commercial Bank in International Business

  • Pre-Shipment Financial Assistance
  • Post-Shipment Financial Assistance

  • Objectives of Export Trade
  • Export Trade Procedure

  1. Receiving Trade Enquiry
  2. Receiving Indent and Sending Confirmation
  3. Arranging Letter of Credit
  4. Obtaining Importer Exporter Code (IEC) and RBI code Number
  5. Obtaining Registration cum Membership Certificate (RCMC) from Export Promotion Council /Commodity Board
  6. Manufacturing /Procuring Goods and Packing items
  7. Export Inspection Certificate
  8. Insurance of Goods
  9. Certificate of Origin
  10. Consular Invoice
  11. Engagement of Forwarding Agent
  12. Dispatch of Goods to Port and Sending the Receipt to Agent
  13. Fulfilment of Customs Formalities by Forwarding Agent
  14. Customs Clearance
  15. Preparation of Commercial Invoice and Submitting Documents to Bank
  16. Securing Payment

  • Intermediaries in Export Trade

  1. Forwarding Agent
  2. Commission Agents
  3. Export Trading House
• Objectives of Export Trade 
• Procedure of Export Trade 
• Meaning of Import Trade 
  • Meaning
  • Objectives of Import Trade

  1. Achieving Rapid Industrialization
  2. Meeting Consumer Demand
  3. Upgrading Standard of Living of the People
  4. Meeting Shortage Situation
  5. Strengthening Defence

  • Import Procedure

  1. Obtaining Import License
  2. Trade Enquiry
  3. Obtaining Foreign Exchange
  4. Placing an Indent Order
  5. Opening Letter of Credit(L/C)
  6. Receiving Shipping Document
  7. Appointment of Clearing Agents
  8. Fulfillment of Customs Formalities
  9. Taking Delivery of Goods
  10. Settlement of Import Bill

  • Import Documents
  • Intermediaries in Import Trade

  1. Indent Houses/ Import Agent
  2. Clearing Agent
• Objectives of Import Trade 
• Purpose of Import Trade 
• Procedure of Import Trade 
• Documents Involved in International Trade Or Export Trade - Indent, Letter of Credit, Shipping Order, Shipping Bills and Mate's Receipt(DA/DP) 
• Documents Involved in International Trade Or Export Trade - Bill of Lading, Certificate of Origin, Consular Invoice and Documentary Bill of Exchange(DA/DP) 
• Documents Involved in Import Trade Such 
  • import license
  • indent
  • letter of credit
  • documentary bill of exchange
  • bill of entry
  • bill of sight
  • port trust dues receipt
  • application to import
  • advice note
  • bill of lading
    
• Meaning of World Trade Organization (WTO) 
  • Objectives of WTO
  • Functions of WTO
  • Achievements of WTO
  • WTO and India
• Objectives of World Trade Organization (WTO) 

Meaning, difference between internal trade and external trade

• Meaning and characteristics of international trade; problems of international trade; advantages and disadvantages of international trade.

Export trade – Meaning, objectives and procedure of export trade.

• Self-explanatory

Import trade – Meaning objectives purpose and procedure

• Meaning and functions of import trade; objectives, purpose and procedure.

Documents involved in international trade.

• Documents involved in export trade, such as: indent, letter of credit, shipping order, shipping bill, mate’s receipt, bill of lading, certificate of origin, consular invoice, documentary bill of exchange (DA/DP), all need to be explained.
• Documents involved in import trade, such as: import license, indent, letter of credit, documentary bill of exchange, bill of entry, bill of sight, port trust dues receipt, application to import, advice note, bill of lading, all need to be explained

World Trade Organisation.

• WTO-meaning and objectives

• Concept of Insurance 

  Meaning of Insurance

  Principles of Insurance : 

  • utmost good faith
  • insurable interest
  • indemnity
  • contribution
  • doctrine of subrogation
  • causa proxima
  • mitigation of loss

  Types of Insurance - Fire

  Types of Insurance - Life

  Types of Insurance - Marine

• Objectives of Insurance 
• Purpose of Insurance 
• Concept of Re-insurance 
• Concept of Double Insurance 
• Types of Insurance - Health 
  • Meaning and Features of Health Insurance
• Types of Insurance - Motor 
  • Meaning and Importance of Motor Insurance
• Types of Insurance - Social 
  • Meaning and Importance of Social Insurance
• Types of Insurance - Fidelity 
  • meaning andImportance of Fidelity Insurance
• Risks in Business - Insurable and Non-insurable Risk 
  • meaning and examples of both
• Characteristics of Insurable Risks 

Insurance – Meaning, objectives and purpose.

• Meaning, objectives and purpose of insurance; Concept of re-insurance and double insurance

Risks in business - insurable and non-insurable

• Risks in business - insurable and non-insurable - meaning and examples of both. Characteristics of insurable risks

Principles of insurance.

• Fundamental principles to be explained: utmost good faith; insurable interest; indemnity; contribution; doctrine of subrogation; causa proxima. mitigation of loss

Types of insurance: life and non life

• Types of insurance – life, health, fire, marine, motor, social and fidelity insurance (Meaning and importance only).