This well-known text provides students with the knowledge of basic accounting principles and practices presented in a simple and systematic manner. The unique feature of this book lies in the presentation of theory, which enables students to solve practical problems. The other main strengths of this book are its plentiful illustrative examples and end-of-chapter exercises with answers. The wide coverage and user-friendly approach helps the book meet the requirements of the students of B Com, M Com, MBA, CA, ICWA and CS. SALIENT FEATURES Lists up Learning Objectives for each chapter Lists up Key Terms at the end of each chapter Separately asks Objective Questions and Essay type questions Provides about 400 illustrations with working note Over 440 practical problems along with answers Questions from University, CA, ICWA and ICS examinations NEW IN THE TENTH EDITION A new topic on ‘lease accounting’ in Chapter 3 of Section II Accounting Standard 29: Provisions, Contingent Liabilities and Contingent Assets Preface to the Statement of Accounting Standards (Revised 2004) Amendments in the Companies Act, 1956 through the Companies (Second amendment) Act, 2002 Amendments in the Negotiable Instruments Act, through Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002 Amendments in Schedule XIII, concerning managerial remuneration Enactment of the Finance Act, 2003 Implications of Accounting Standard 26: Intangible Assets and Accounting Standard 10: Accounting for Fixed Assets

Table of Contents:
I. Accounting Principles and Processes: Meaning and Scope of Accounting Accounting Principles Journalising Transactions Basic Accounting Terms Ledger Posting and Trial Balance Sub-Division of Journal Negotiable Instruments Bank Reconciliation Statement Matching Concept Capital and Revenue Final Accounts Rectification of Errors Depreciation Provisions and Reserves Single Entry System II. Special Accounting Problems: Consignment Accounts Joint Venture Accounts Hire Purchase, Lease and Instalment Purchase Systems Branch Accounts Account Current and Average Due Date Inventory Valuation III. Partnership Accounts: Fundamentals Reconstitution of Partnership Firm-I (Admission) Reconstitution of Partnership Firm-II (Retirement, Death and Amalgamation) Dissolution of Partnership firm IV. Company Accounts: The Joint Stock Company Shares and share Capital Debentures Company Final Accounts Acquisition of Business and Profit Prior to Incorporation Internal Reconstruction External Reconstruction, Amalgamation and Absorption V. Management Accounting: Management Accounting: Nature and Scope Financial Statements Analysis and Interpretation Funds Flow Statement Cash Flow Statement