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......................................................................................................................... Description Financial Accounting provides a comprehensive coverage to course requirements of students appearing in the accounting paper at the Foundation Examinations of Institute of Chartered Accountants of India, the Institute of Company Secretaries of India and the Institute of Cost and Works Accountants of India. It also meets the requirements of students appearing in the financial accounting paper at the B Com examinations of different universities. The book is divided into four sections : Section I explains the fundamental principles necessary for understanding the subject. It covers the entire accounting cycle from the recording of financial transactions to the preparation of final accounts. Section II deals with accounting problems related to certain specific types of business transactions. Section III deals with partnership accounts. Section IV presents solutions to questions set at CS Foundation Examinations. ......................................................................................................................... Contents Section 1 – Accounting Principles and Processes 1. Meaning and Scope of Accounting 2. Accounting Principles 3. Journalising Transactions 4. Ledger Posting and Trail Balance 5. Sub-division of Journal 6. Negotiable Instruments 7. Bank Reconciliation Statement 8. Matching Concept 9. Capital and Revenue 10. Final Accounts 11. Rectification of Errors 12. Accounting concept of Income 13. Depreciation Provisions and Reserves 14. Sectional and Self-Balancing Systems 15. Accounts of Non-Profit Making Organisations 16. Single Entry System 17. Computer and Accounting Section 2 – Special Business Accounting 1. Consignment Accounts 2. Joint Venture Accounts 3. Account Current and Average Due Date 4. Inventory Valuation 5. Hire Purchase, Lease, and Instalment Purchase Systems 6. Branch Accounts 7. Departmental Accounts 8. Accounting for Price Level Changes Section 3 – Partnership Accounts 1. Fundamentals 2. Reconstitution of Partnership Firm – I (Admission) 3. Reconstitution of Partnership Firm – II (Retirement, Death and Amalgamation) 4. Dissolution of Partnership Firm Section 4 – Suggested Answers CS Foundation Examinations Appendices ......................................................................................................................... Dr S N Maheshwari is presently Director General, Delhi Institute of Advanced Studies, Delhi. He is also the Chairman, Indian Society of Accounting and Management, New Delhi. During his long and varied experience, he worked as Principal, Hindu College, University of Delhi; Professor and Dean, Faculty of Commerce and Business Management, Goa University; Director, Institute of Management Science and Productivity Research, New Delhi; Director (Academic), BLS Institute of Management, Mohan Nagar; Vice-Principal, Shri Ram College of Commerce, University of Delhi; and Principal, Staff Training College, New Bank of India, Chandigarh. Dr SN Maheshwari has more than four decades of teaching experience to B.Com., BBA, M.Com., MBA, CA, CS and ICWA students. He has authored more than 50 books and a dozen articles on Accounting and Finance in several leading journals. Dr S.K. Maheshwari holds triple master’s degrees : MBA from Bombay University, Masters in Accounting and a masters in Taxation, both from Miami University (Oxford, USA). Besides, he has a Doctorate in Accounting from Florida Atlantic University, USA. Presently, he is Associate Professor, Marshall University, USA. Dr. S.K. Maheshwari has more than half a dozen books to his credit and has contributed a number of articles in the areas of Accounting and Finance with several leading national and international journals. His research interests includes executive compensation, activity based costing and interdisciplinary application both practical and theoretical. He is also involved with many community-based services. He was nominated for ‘Who’s who among American Teachers 2002. He also bagged the coveted Summer Research Award for three consecutive years between 1999 and 2002, and the University Merit Award for teaching and research in 2000. Dr. Maheshwari has also contributed his services to many corporate sector giants like Holiday Inn and Tata Consultancy Services .........................................................................................................................
