Financial Accounting

The Fourth Edition of this text, which is a thoroughly revised and enlarged version of Financial Accounting, 3rd ed., by the first author, gives a clear analysis of the fundamental concepts of financial accounting. Organized into 15 chapters, the book begins with a discussion on the objectives of accounting and accounting information as well as the theory base of accounting and accounting standards. Then it goes on to give a detailed discussion on various source documents and vouchers required for recording transactions. Besides, the book describes what are subsidiary books of business such as cash book and bills payable book as also the techniques of preparing trial balance, final accounts, accounts of non-trading organizations, accounts from incomplete records, consignment accounts and joint venture accounts. Finally, the book covers hire purchase system, branch accounts, and dissolution of a partnership firm.

This well-organized and student-friendly book is intended as a text for undergraduate students of commerce (B.Com. Programme/B.Com. Pass) in universities across India. In addition, it would be useful for professionals pursuing CA, ICWA and CS courses.