Description

Financial Accounting

Financial accounting as a discipline has evolved over the years due to perennially changing requirements of the industry. With the advent computerization, it now also encompasses new techniques and new issues caused by changes in the legislation pertaining to the preparation and publication of financial statements.

Components

The present course includes an introduction to the subject of Financial Accounting, basic concepts underlying the accounting practices and its techniques with special reference to Sole-Proprietorship. It also touches upon the various aspects of accounting related to Non-trading Concerns, the syllabus also includes computerized accounting using the software TALLY.

Major topics which are discussed in the book are:

• Fundamentals of Accountancy
• Captial, Revenue, Deferred Revenue expenses, Reserves, Provisions and Contingent Liability.
• Accounting Concepts
• Accounting for Non-traders
• Final Accounts for Sole Proprietory concern
• Accounting entries in TALLY 7.2 using vouchers

Objectives

We have tried to discuss the said topics in a simple language. Review exercises at the end of each chapter and multiple-choice questions along with answers.We hope this would help the students in their preparations for examinations.

Suggestions and feedback from the teaching fraternity and the students are earnestly solicited and will be highly appreciated to improve further the quality of this book.