Introduction to Financial Accounting, 11e, focuses upon the most widely accepted accounting theory and practice with an emphasis on using and analysing the information in financial statements. This adaptation title describes the underlying concepts of accounting and several accounting procedures such as transaction analysis, journalizing and posting based on the Indian context.The book deals with important topics that all managers should know and all business management students should study and is oriented not only to the user of financial statements but also potential accounting practitioners. The ultimate objective of this adaptation title is to help in the understanding of financial position and prospects, which is achieved by a focus on the balance sheet equation.Features1)Covers text and problem material based on classic issues arising in the last 30 years.2)Contains several chapters that have been rewritten keeping in mind the latest changes in the Indian Accounting Standard.3)Includes business first boxes in each chapter which provide insights into operations at well-known domestic and international companies, accenting today’s real-world issues.4)Contains various cases studies pertaining to the Indian context.Table of Contents Chapter 1 Accounting the language of business Chapter 2 Measuring income to assess performance The portfolio P1Chapter 3 Recording transactions Chapter 4 Accrual Accounting and Financial Statements Chapter 5 Statement of Cash FlowsChapter 6 Accounting for Sales Chapter 7 Inventories and Cost of Goods Sold Chapter 8 Long-Lived Assets Chapter 9 Liabilities and Interest Chapter 10 Stockholders’ Equity Chapter 11 Intercorporate Investments and Consolidations Chapter 12 Financial Statement Analysis.