Financial Accounting presents the fundamental principles and concepts of accounting. Accounting conventions which are in vogue throughout the world, have been discussed in the book.
Single-entry system played a very important role in accounting, which gradually paved way for a refined form of double-entry system. This aspect has been discussed at length. Concept of trading account, profit and loss account and balance sheet have been explained with appropriate illustrations.
Fundamental concepts of hire purchase, calculation of interest, and risks involved in hire purchases have been explained.
- Introduction to Financial Accounting
- Conversion of Single Entry to Double Entry
- Hire Purchase System
- Royalty Accounts
- Conversion of a Partnership Firm into a Limited Company