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Accounting is an important tool for taking various business decisions. It is therefore inevitable for aspiring management professionals to understand the accounting concepts and practice. The book is primarily meant for practicing and future managers so that they can understand the principles, practices and uses of accounting. The book provides a comprehensive coverage of financial accounting, cost accounting and management accounting. Theoretical concepts have been explained in a lucid manner. A large number of illustrations have been covered so that the technical and practical aspects can be understood in a systematic and organized manner. Non commerce graduates who have no prior training in accounting may find the book quite useful. Cases have been also covered at the end of each chapter so that the management professionals get to acquire the requisite skills in the application of the subject. Contents : Part-I Introductory Conceptual Building 1. Introduction to Accounting 2. Accounting Principles and Accounting Standards Part-II Accounting Cycle 3. Journal, Ledger and Trial Balance 4. Special Journals 5. Computerized Accounting 6. Recognizition of Expenses and Revenues 7. Preparation of Final Accounts Part-III Rectification and Reconcialiation 8. Rectification of Errors 9. Bank Reconciliation Statement Part-IV Valuation of Assets Assets 10. Depreciation Account and Provisions and Reserves 11. Inventory Management Part-V Analysis and Interpretation of Financial Statements 12. Company`s Final Accounts 13. Financial Analysis 14. Ratio Analysis 15. Statement of Changes in Financial Position - Funds Flow Statement 16. Cash Flow Statement Part-VI Decision Making and Control 17. Management Accounting: an Introduction 18. Cost Accounting and Classifications of Costs 19. Accounting of Overheads 20. Budgeting and Budgetary Control 21. Standard Costing and Variance Analysis 22. Marginal Costing and Cost Volume Profit Analysis 23. Decision Making and Profit Planning 24. Accounting for Labour Costs 25. Reconciling the Differences between Cost and Financial Accounts 26. Management Accounting and Control Techniq
