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Year: 2,011
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City: New Delhi
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Pages In File: 692
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Language: English
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Topic: 2
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Identifier: 0070146861,9780070146860
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Org File Size: 37,068,726
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Extension: pdf
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Toc: Cover Half Title Author’s Profile Title Copyright Dedication Foreword Preface Acknowledgements Contents 1. Management Accounting: An Overview 1.1 What is Accounting? 1.2 Bookkeeping vs. Accounting 1.3 Users of the Accounting System (Internal and External) 1.4 Different Types of Accounting Activities Chapter at a Glance Questions for Self-Assessment 2. Basic Concepts and Conventions; and Generally Accepted Accounting Principles 2.1 Rationale behind Basic Concepts and Conventions 2.2 Historical Perspective 2.3 Basic Concepts and Conventions Chapter at a Glance Questions for Self-Assessment Appendix 2.1: International Financial Reporting Standards (IFRSs) 3. Financial Statements: A Brief Introduction 3.1 Management Accounting and Financial Management—A Comparison 3.2 Components of Financial Statements 3.3 Format of Balance Sheet Chapter at a Glance Questions for Self-Assessment 4. Balance Sheet: Some Terminologies 4.1 Liabilities (Sources of Funds) 4.2 Equity Share (Ordinary Share) Capital 4.3 Some Other Terminologies, Pertaining to the Share Capital 4.4 More Terminology 4.5 Preference Share Capital 4.6 Reserves and Surplus 4.7 Secured Loans 4.8 Equitable Mortgage 4.9 Unsecured Loans 4.10 Current Liabilities and Provisions 4.11 Assets (Uses or Application of Funds) 4.12 Fixed Assets 4.13 Investments 4.14 Current Assets 4.15 Miscellaneous Expenses and Losses Chapter at a Glance Questions for Self-Assessment Problems 5. Profi t and Loss Account 5.1 Items Reported in Profi t and Loss Account 5.2 Terms Used in Profi t and Loss Account 5.3 Profi t and Loss Appropriation Account 5.4 Cash Profi t Chapter at a Glance Questions for Self-Assessment 6. Mechanics of Accounting: For Preparation of Financial Statements 6.1 Accounting Mechanism—Steps and Stages 6.2 ‘T’ Accounts: Ledger 6.3 Rules Pertaining to Recording of Business Transactions 6.4 Revenues and Expenses and Owners’ Equity Account 6.5 Balancing Mechanism for ‘T’ Accounts 6.6 Books of Original Entries 6.7 Trial Balance Chapter at a Glance Questions for Self-Assessment Problems 7. Revenue Recognition and Measurement 7.1 Recognition of Revenue 7.2 Recognition at the Time of Sale 7.3 Recognition at the Time when the Sale Proceeds are Received 7.4 Recognition at the Time when the Product or Project is Completed 7.5 Proportionately, Spread Over the Period of Performance of Contracts Chapter at a Glance Questions for Self-Assessment Problems 8. Matching of Revenues and Expenses 8.1 Different Categories of Stocks of Inventories 8.2 Different Categories of Manufacturing Costs 8.3 Computation of Manufacturing Costs Chapter at a Glance Questions for Self-Assessment 9. Inventory Pricing and Valuation 9.1 Issues Involved in Valuation of Inventories 9.2 Three Main Methods of Valuation of Inventories 9.3 Principles Pertaining to Valuation of Inventories 9.4 FIFO and LIFO Methods of I