Financial Accounting gives a clear exposition of concepts, procedures and techniques involved in the study of the subject. It is divided into four sections: Section I explains the fundamental principles necessary for understanding the subject. It covers the entire accounting cycle—from recording of financial transactions to the preparation of final accounts. Section II deals with accounting problems related to certain specific types of business transactions. Section III deals with partnership accounts. Section IV provides suggested answers to recent examinations’ questions.
The book deals exhaustively with the course-content requirements of students preparing for B.Com-Hons, M.Com, MBA and professional examinations conducted by different institutions including the Institute of Chartered Accountants of India (ICAI), the Institute of Company Secretaries of India (ICSI), the Institute of Cost & Works Accountants of India (ICWAI) and various banking institutions.
This Fifth Edition has certain additional features besides maintaining the positive features of the fourth edition, viz., simplicity of style, exhaustive text with plenty of illustrative materials as well as questions and problems for self-study.