Practice Manual of Financial Accounting

Practice Manual of Financial Accounting Book For:

• B.Com (Hons) Semester I of MATS University Raipur (MATS), Binod Bihari Mahato Koylanchal University Dhanbad (BBMKU), Vinoba Bhave University Hazaribag (VBU), Ranchi University, St. Xavier’s College Ranchi, Jamshedpur Women’s College, Kolhan University, Sido Kanhu Murmu University Dumka (SKMU), Nilamber Pitamber University Daltonganj (NPU), Banaras Hindu University (BHU)
• B.Com (Hons) Semester II of MATS University Raipur (MATS), Vinoba Bhave University Hazaribag (VBU) & B.Com (Hons) Semester III of Binod Bihari Mahato Koylanchal University Dhanbad (BBMKU), Sido Kanhu Murmu University Dumka (SKMU)
• B.Com Semester I of Guru Ghasidas Vishwavidyalaya Bilaspur (GGU), MATS University Raipur (MATS), Sri Dev Suman Uttarakhand University Tehri Garhwal (SDSUV), University of Lucknow (LU) & B.Com Semester II of Guru Ghasidas Vishwavidyalaya Bilaspur (GGU), MATS University Raipur (MATS)
• B.Com (Hons) I Year of Patna University, Magadh University (MU), Patliputra University, Veer Kunwar Singh University Ara (VKSU), Tilka Manjhi Bhagalpur University (TMBU), Munger University, Babasaheb Bhimrao Ambedkar Bihar University (BRABU), Lalit Narayan Mithila University Darbhanga (LNMU), Bhupendra Narayan Mandal University Madhepura (BNMU), Purnea University
• B.Com I Year of Dr Bhimrao Ambedkar University Agra (DBRAU), Mahatma Jyotiba Phule Rohilkhand University Bareilly (MJPRU), Baster University, Atal Bihari Vajpayee Vishwavidyalaya Bilaspur, Pandit Ravishankar Shukla University Raipur (PRSU), Sarguja University Ambikapur, Pt. Deendayal Upadhyay Gorakhpur University (DDU), Siddharth University Kapilvastu Siddharth Nagar, Veer Bahadur Singh Purvanchal University Jaunpur (VBSPU), Bundelkhand University (BU), Chhatrapati Shahu Ji Maharaj University Kanpur (CSJMU), Kumaun University (KUNTL), Awadhesh Pratap Singh University Rewa (APSU), Barkatullah University Bhopal, Rani Durgavati Vishwavidyalaya Jabalpur (RDVV), Vikram University Ujjain, Dr Harisingh Gour University Sagar (DHGU), Chaudhary Charan Singh University Meerut (CCSU), Mahatma Gandhi Kashi Vidyapith Varanasi (MGKVP), Jananayak Chandrashekhar University Ballia (JNCU) & B.Com II Year of Dr Rammanohar Lohia Avadh University Faizabad (RMLAU)

Practice Manual of Financial Accounting

For a thorough grasp of the subject of accounting, adequate practice in the working out of numerical problems is as much an essential prerequisite as the understanding of its fundamental principles, concepts and conventions. The present book is specially designed to enable the students to acquire the practice by going through a wide variety of carefully selected, adapted and designed problems with complete solutions and detailed workings and notes. Questions have been taken from the latest examination papers of the various Universities and Professional Bodies. Practice Manual of Financial Accounting book has been thoroughly revised and final accounts of the questions related to companies have been prepared in accordance with Schedule III of the Companies Act, 2013. The book is very useful to the students of B. Com. and M. Com. of various Universities.

Practice Manual of Financial Accounting Book Contents

1. Preparation of Journal
2. Sub-Division of Journal (Cash Book and Subsidiary Books)
3. Preparation of Ledger
4. Preparation of Trial Balance
5. Adjustments
6. Final Accounts With Adjustments
7. Concept of Depreciation
8. Branch Accounts
9. Departmental Accounts
10. Royalty Accounts
11. Insolvency Accounts
12. Partnership Accounts (Including Limited Liability Partnership)
13. Partnership Accounts: Admission of A New Partner
14. Partnership Accounts: Retirement of A Partner
15. Partnership Accounts: Death of A Partner
16. Dissolution of Partnership Firm-I
17. Dissolution of Partnership Firm-Ii (With Insolvency)
18. Rectification of Errors
19. Provisions and Reserves Funds
20. Piecemeal Distribution
21. An amalgamation of Partnership Firms
22. Conversion of Partnership into a Company and Sale of Partnership Business to a Company
23. Hire-Purchase System
24. Instalment Payment System
25. Valuation of Inventories
26. Insurance Claims
27. Voyage Accounts
28. Bank Reconciliation Statement
29. Bill of Exchange
30. Accounting for Not for Profit Organisations
31. Consignment Accounts
32. Joint Venture Accounts
33. Packages, Empties and Containers’ Accounts
34. Measurement of Business Income
35. Self-Balancing System and Sectional Balancing System
36. Single Entry System or Accounts from Incomplete Records
37. Capital and Revenue
38. Final Statements of Non-Corporate Entities