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The book provides an insight into the concepts pertaining to financial accounting in the most simplified way. With clear and concise presentation and systematic discussion of the concepts, the text helps in developing the basic understanding of corporate financial reporting.

It explicates the accounting principles and methods stipulated in Ind AS, without going into too much detail to make the book useful to the students without previous accounting knowledge.

Highlights of the Book:

• Case study-based approach.

• Ind AS revised up to March 31, 2018, including Ind AS 15.

• Schedule III of the Companies Act, 2013.

• Use of financial statements of HUL, Infosys and Suzlon for the year 2016–17 throughout the text to explain Schedule III, accounting principles and financial statement analysis.

• Numerous illustrations and self-test questions (with answers) after each concept for students to assess their knowledge and grasping.

• Chapter-end assignments including multiple choice questions, fill in the blanks, analytical questions and problems for practice.

Contents: Preface. 1. The conceptual framework. 2. Accounting conventions. 3. Accounting fundamentals. 4. Balance sheet structure and assets. 5. Equity, liabilities, recognition and measurement. 6. Statement of profit and loss. 7. The accounting cycle-journal, cash book, general ledger and trial balance. 8. Completion of the accounting cycle-preparation of profit and loss account and balance sheet. 9. Accounts of limited liability companies-accounting for shares and debentures. 10. Accounts of limited liability companies-final accounts. 11. Fund flow and cash flow statement. 12. Financial statement analysis-basics. 13. Ratio analysis-re-organising financial statements. 14. Ratio analysis-computation and interpretation. 15. Fixed assets and investment property. 16. Inventories. 17. Depreciation and impairment of fixed assets. 18. Revenue from contracts with customers. Index.