This well-known textbook provides students with the knowledge of basic accounting principles and practices in a systematic manner. The unique feature that has made this book popular among students is the simplicity of presentation which enables them to understand the subject and solve practical problems with ease.
The main strengths of the book are updated text, plentiful illustrative examples and the end-of-chapter exercises with answers. The wide coverage and user-friendly approach help the book to meet the course content requirements for BCom, BBA, MCom, MCA examinations of different universities and examinations conducted by professional institutions.
Audience of the Book :
For BCom, BBA, MCom, MCA and Foundation Examinations of Various Professional Institutions
The main features of the book are as follows:
Updated text in view of new and withdrawn accounting standards and their interpretation.
Formulation of the roadmap for convergence of Indian Accounting Standards to IFRS.
Incorporation of the New Schedule VI in place of Old Schedule VI with appropriate notes, wherever necessary.
Complete overhauling of solutions to all Illustrations and requisite changes in the answers to Practical Problems required due to the substitution of New Schedule VI in place of Old Schedule VI.
Latest questions and problems from examinations conducted by different professional bodies and universities.
Table of Contents:
Section I: Accounting Principles and Processes
Meaning and Scope of Accounting
Basic Accounting Terms
Ledger Posting and Trial Balance
Sub-Division of Journal
Bank Reconciliation Statement
Capital and Revenue
Rectification of Errors
Depreciation Provisions and Reserves
Single Entry System (Final Accounts from Incomplete Records)
Section II: Special Accounting Problems
Joint Venture Accounts
Hire Purchase, lease and Installment Purchase Systems
Account Current and Average Due Date
Section III: Partnership Accounts
Reconstitution of Partnership Firms–I (Admission)
Reconstitution of Partnership Firms–II (Retirement,
Death and Amalgamation) Dissolution of A Partnership Firm
Section IV: Company Accounts
The Joint Stock Company
Shares and Share Capital
Company Final Accounts
Acquisition of Business and Profit Prior to Incorporation
External Reconstruction, Amalgamation and Absorption