Financial Accounting

Accountancy is mostly regarded as a difficult subject but the reader of Financial Accounting Book will realise that it is not so, because it has been written in simple language and in most systematic order explaining each and every point at length.

Some of the special features of Financial Accounting Book are :

• Many developments have taken place in Accounting Philosophy and International
• Accounting Standard. An effort has been made to incorporate all such developments in Financial Accounting Book. The book includes the latest status all Accounting Standards issued by the Institute of Chartered Accountants of India.
• This book adequately satisfies the standard of undergraduate students. After going through the theory, illustrations and questions of this book, one can easily solve questions of university examinations.
• Chapters of Hire-Purchase System and Partnership Firm have been thoroughly revised and new material and numerical illustrations have also been incorporated.
• In each chapter of the book, final accounts have been closed on 31st March only and the final accounts pertaining to companies have been prepared in accordance with Schedule III of the Companies Act, 2013.

Financial Accounting Book Content

1. Nature and Function of Financial Reporting
2. Introduction to Accounting
3. Measures of Return
4. Ethical Issues in Accounting
5. Basic Accounting Concepts, Conventions and GAAP
6. Concept of Double Account System
7. Source Documents
8. Preparation of Journal
9. Sub-Division of Journal: Cash Book
10. Sub-Division of Journal: Subsidiary Books
11. Preparation of Ledger
12. Preparation of Trial Balance
13. Completing The Accounting Cycle Measuring Business Income
14. Adjustment Entries
15. Financial Statements of Manufacturing Businesses
16. Meaning and Reporting of Assets/Liabilities Including Accounting for Liability
17. Internal Control System for Cash
18. Bank Reconciliation Statement
19. Accounting for Receivables (Bills of Exchange)
20. Capital and Revenue Expenditure
21. Depreciation Accounts
22. Accounting for Inventories
23. Accounting for Share Capital and Buy-Back of Shares
24. Issue and Redemption of Preference Shares
25. Financial Statements
26. Analysis and Application of Financial Statements
27. Statement of Cash Flow (As Per Accounting Standard-3)