This second edition of financial accounting continues to provide a comprehensive and up-to-date coverage of key concepts of accounting and their application in practice. Written in a friendly, easy-to-understand style and the author's proven self-study approach, this book takes the intimidation out of financial accounting and helps you learn the conceptual and practical financial accounting skills relevant to recording of various kinds of business transactions.
• Over 350 Illustrations and varied comprehensive revision problems along with necessary working notes to aid learning process
• More than 500 theoretical questions to test understanding
• Over 250 practical questions along with answers of key items for effective revision
• Introduction to Accounting • Basic Accounting Terms • Basis of Accounting • Accounting Principles • Accounting Standards • AS 1 - Disclosure of Accounting Policies • AS 9 - Revenue Recognition • Accounting Equation • Journalising, Posting and Balancing • Subsidiary Books I — Cash Book • Subsidiary Books II — Books other than Cash Book • Trial Balance • Depreciation, Provisions and Reserves • Valuation of Inventory • Classification of Capital and Revenue Expenditure and Receipts • Financial Statements (Without Adjustments) • Financial Statements (With Adjustments) • Financial Statements of Not-for-Profit Organisations • Accounts from Incomplete Records [or Single Entry System] • Accounting for Hire Purchase and Instalment Purchase • Accounting for Branches • Dissolution of a Firm • Partnership — Insolvency, Piecemeal Distribution and Sale