The Fifth Edition of this popular text is thoroughly revised and updated. Organised into 18 chapters and divided into three broad parts, Part I deals with conceptual clarity of accounting, discussing in detail its objectives, usage along with accounting information as well as the theory base of accounting with accounting standards. It explains the way the transactions are recorded in the main book of the business known as the journal entry where recording and posting is done in different ledger accounts. Trial Balance is prepared to make final accounts after rectification of errors if any and applying appropriate methodology of depreciation. Final accounts for Not for Profit entities along with inventory control are very well explained and illustrated. Part II deals with specialised accounting such as Hire Purchase with Lease Accounting and Branch Accounts with Departmental Accounts. Part III explains the Partnership Accounts such as Fundamentals, Admission of a partner, Retirement or death of a partner and finally the dissolution of partnership.
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Dr. V.K. Goyal, formerly Associate Professor of Accounting and Finance at Shri Ram College of Commerce, University of Delhi. He has more than four decades teaching experience. He has been a member of Indian Accounting Association and Indian Commerce Association. Professor Goyal has written several textbooks on Accounting and has contributed many research articles in the journals of repute. Dr. Ruchi Goyal is an Assistant Professor of Commerce at Keshav College, University of Delhi. She is a co-author of books on Corporate Accounting and Financial Accounting for BBA, both published by PHI Learning. She has to her credit many research papers in various journals of repute.
PART-I GENERAL ACCOUNTING - PART-II SPECIALISED ACCOUNTING - PART-III PARTNERSHIP ACCOUNTS
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