Financial Accounting

Financial Accounting provides a comprehensive coverage to course requirements of students appearing in the Financial Accounting paper at the B.Com examinations of different Indian universities as per CBCS.It also meets the requirements of students appearing in the accounting paper at the Foundation Examinations of institute of Chartered Accountants of India, the Institute of Company Secretaries of India and the institute of Cost Accountants of India. The book is divided into three sections: Section I explains the fundamental principles necessary for understanding the subject. It covers the entire accounting cycle, from recording of financial transactions to the preparation of final accounts. Section II deals with accounting problems related to certain specific types of business transactions. Section Ill deals with partnership accounts.New in the Sixth Edition• Updated position regarding Accounting Standards (AS,s) issued by the Institute of Chartered Accountants of India.. Notification of 40 Indian Accounting Standards (Ind AS,s) issued by the Ministry of Corporate Affairs, Govt. of India.• Phased implementation of Ind AS,s by the concerned authorities to bring at par Indian Finance Reporting System with Global Financial Reporting System.• Addition of a new chapter "Royalty Accounts" in Section Il as per course content requirements.Dr S N Maheshwari is presently Professor Emeritus & Academic Advisor, Delhi Institute of Advanced Studies, Delhi. He is also the Chairman, Indian Society of Accounting and Management, New Delhi. During his long and varied experience, he worked as Director General, Delhi Institute of Advanced Studies, Principal, Hindu College, University of Delhi; Professor and Dean, Faculty of Commerce and Business Management, Goa University;Director, Institute of Management Science and Productivity Research, New Delhi; Director (Academic), BLS Institute of Management, Mohan Nagar; Vice-Principal, Shri Ram College of Commerce, University of Delhi; and Principal, Staff Training College, New Bank of India, Chandigarh. Dr S N Maheshwari has more than five decades of experience in teaching students of B.Com, BBA, M.Com, MBA, CA, CS and CMA. He has authored around one hundred fifty books/monographs and participated in several national and international seminars.Dr Suneel K Maheshwari is a PhD in Business Administration from Florida Atlantic University, USA. He also obtained his Masters in Accountancy from Miami University, Oxford, Ohio, USA. At present he is Professor of Accounting, Eberly College of Business and Information Technology, Indiana University of Pennsylvania, USA.Dr Suneel Maheshwari has also been a management consultant to many corporate-sector giants, like Holiday Inn and TCS. He has around three decades of teaching, research and industry experience. He has also authored more than 70 books/monographs and contributed over 40 articles in refereed national and international journals.Mr Sharad K Maheshwari is a highly qualified business professional with around 25 years of experience at senior management positions and as a Consultant. He is an accomplished Chartered Accountant, a Cost & Management Accountant, a Company Secretary, a CPA from Australia and a CMA from USA. Mr Sharad is a Fellow Member of the Institute of Chartered Accountants of India, Associate Member of the Institute of Cost Accountants of India and Associate Member of the Institute of Company Secretaries of India. Mr Sharad has also authored more than 70 books/monographs besides participating in several national and international seminars