1. Conceptual Basis of Accounting
2. Balance Sheet
3. Profi t and Loss Account
4. Funds and Cash Flow Statement
5. Accounting Records
6. Accounts for Joint Stock Companies
7. Financial Statement Analysis
8. Common Issues in Accounting Records
9. Accounting Standards
Appendix A Sample Annual Report
Appendix B Indian Accounting Standards (Ind AS) and the IFRS
Appendix C Comprehensive Assignment
Appendix D Comprehensive Test: VIP Chaddi Pe Vaddi Offer …
Appendix E Comprehensive Test: Three Accounting Periods of Jay Ram Sweets
Appendix F Entering Accounting Records in Software
Glossary of Terms
Index

With the objective of providing conceptual clarity and connecting learners to accounting in practice, this new edition continues to focus on building the concepts in financial accounting from a decision-making perspective. The major highlights of this new edition are that it gives an updated status on Schedule VI of the Indian Companies Act, Indian Accounting Standards as well as summarizes the key places of difference between Indian Accounting Standards (Ind AS) and International Financial Reporting Standards (IFRS). As in the previous editions, this text prepares the managers’ ability to understand and evaluate accounting reports with the help of real-world examples and cases.