Financial Accounting
Accounting Equations
M/s. Aryan Traders Ltd.
Concepts Governing Financial Statements
Glossary


Answer to Assignments

Financial Accounting is a modular approach to the learning of accounting. There are three modules.
Module 1 articulates various aspects of accounting by using the accounting equations (Profit and Loss account equation and Balance Sheet equation). Module 1 has fine chapters and provides for 38 assignments in all.
Module 2 is a building block which rests on the foundations laid on in module 1.
There are ten chapters and various aspects of accounting which are stand alone topics like depreciation, inventory valuation, bad and doubtful debts, etc. are explored.
Given the learning of Module 1 and Module 2 are exposed to the book-keeping process.
Module 3 chapters the book-keeping process and peripheral aspects like bill transactions, accounting principles and accounting standards. In addition, some of the latest trends in disclosure practices, viz., cash flows, funds flow, costing are also explored. There is a chapter on creative accounting which is a caveat to the readers, how not be carried away by the scope of abusing accounting as a tool to fudge accounts.
The epilogue provides inputs leading to the next stage of learning finance and accounting, viz., managerial finance ND accounting. This work should be useful to all staff and teachers of MBA/MMS/PG, part time and full time, degree and diploma programs of Universities not only in India but all over the world. Further this is a useful material for MDP and Other company training programs where participants have to get an exposure to accounting. I am sure, the work is received well by the stakeholders and will help them to understand accounting and make learning pleasant and optimistic rather than forced and fearful learning.