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Year: 2,011
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City: New Delhi
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Pages: 1,119
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Pages In File: 1,119
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Language: English
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Topic: 2
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Identifier: 9780070700703,0070700702
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Org File Size: 97,236,715
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Extension: pdf
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Toc: Cover
Contents
Chapter 1 Meaning and Scope of Accountancy
Introduction
Meaning of Accounting
Activities under Accounting
Objectives of Accounting
Book-Keeping
Subfi elds of Accounting
Users of Accounting Information
Relationship of Accounting with Other Disciplines
Limitations of Accounting
Role of Accountants in the Society
Exercises
Answers
Chapter 2 Accounting Concepts, Principles and Conventions
Introduction
Business Entity
Going Concern Concept
Money
Objectivity
Dual Aspect Concept
Periodicity Concept
Accrual Concept
Matching Concept
Revenue Recognition Principle
Conservatism
Consistency
Materiality
Qualitative Characteristics of Financial Statements
Exercises
Answers
Chapter 3 Accounting Standards—Concepts, Objectives and Benefi ts
Introduction
Defi nition
Objects
Concept of Accounting Standards
Overview of Accounting Standards in India
Exercises
Answers
Chapter 4 Accounting Policies
Meaning
Essentials for Accounting Policy
Exercises
Answers
Chapter 5 Accounting as a Measurement Discipline
Introduction
Exercises
Answers
Chapter 6 Basic Accounting Procedures—Journal Entries
Introduction
Double-entry System
Account
Journal
Advantages of Double-entry System
Classifi cation of Accounts
Golden rules of Accounting
Exercises
Answers
Chapter 7 Ledgers
Introduction
Defi nitions
Posting
Balancing of an Account
Exercises
Answers
Chapter 8 Trial Balance
Introduction
Defi nitions
Exercises
Answers
Chapter 9 Subsidiary Books
Subsidiary Book
Subsidiary Books and their Advantages
Purchase Book
Sales Book
Sales Return Book
Purchase Return Book
Bills Receivable Book
Bills Payable Book
Journal
Exercises
Answers
Chapter 10 Cash Books
Introduction
Cash Book
Non-Imprest System of Petty Cash
Exercises
Answers
Chapter 11 Capital and Revenue Expenditures and Receipts
Introduction
Exercises
Answers
Chapter 12 Contingent Assets and Contingent Liabilities
Introduction
Contingent Assets
Liability
Provisions
Contingent Liabilities
Exercises
Answers
Chapter 13 Rectifi cation of Error
Introduction
Stages of Error in Accounting Process and Types of Errors
Purpose of Rectifi cation
When Errors are Rectifi ed
Steps to Locate Errors
Criteria for Rectifi cation
Application of Rectifi cation on Criteria
Detailed Explanation of Types of Errors and its Rectifi cation
Exercises
Answers
Chapter 14 Bank Reconciliation Statement
Introduction
Bank Passbook
Bank Reconciliation Statement
Summary
Exercises
Answers
Chapter 15 Inventories
Inventory
Basis of Inventory Valuation
Inventory Record System
Periodic Inventory System: Cost Allocation
Periodic Inventory System
Perpetual Inventory System: Cost Allocation
Non-Historical C