An Introduction to Accountancy, 12/e

An Introduction to Accountancy, 12/e

Authors : Dr S N Maheshwari, CA Sharad K Maheshwari & Dr Suneel K Maheshwari

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About the Author

Dr S N Maheshwari :-
He 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 career, 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 BCom, BBA, MCom, MBA, CA, CS and CMA. He has authored around 150 books/monographs and participated in several national and international seminars.

CA Sharad K Maheshwari :-
He is a highly qualified business professional with more than 20 years of experience at senior management positions. 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. He is currently practising as a Chartered Accountant at Gurugram, Haryana. Prior to this he provided his services as General Manager, Dalmia Cement Bharat Ltd, New Delhi, General Manager: Corporate Finance, The Lalit Suri Hospitality Group, New Delhi, and also served as a Senior Executive with Schlumberger Ltd. Baker Hughes, and Bumi Armada Ltd, Kuala Lumpur, Malaysia, the three leading names in the oil field services industry. Mr Sharad has also authored more than five dozen books/monographs besides participating in several national and international seminars.

Dr Suneel K Maheshwari :-
He is a PhD in Business Administration from Florida Atlantic University, USA. He also obtained his Masters in Accountancy from Miami University, Oxford, Ohio, USA. He was till recently, Professor of Accounting at Marshall University, 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. His research interests include Executive Compensation, Activity-based Costing, Ethical issues and interdisciplinary applications. He has more than two 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, besides attending/chairing several national and international conferences.

About the Book

This well-known textbook provides students with the knowledge of basic accounting principles and practices in a systematic manner. The unique feature that has made this book popular among students is the simplicity of presentation which enables students to understand the subject and solve practical problems with ease. The main strengths of the book are the plentiful illustrative examples and the end-of-chapter exercise with answers.  The wide coverage and user-friendly approach has made the book meet comprehensively the requirements of students studying Accountancy as a subject at BCom, BBA, MBA, MCA examinations and those conducted by different professional institutions.

New in this Edition

• Updated provision regarding ASs, IFRSs and Ind ASs.
• Phased implementation of Ind ASs by the concerned authorities to bring at par Indian Financial Reporting System with Global Financial Reporting System.
• Strengthening and updating of the text material in several chapters keeping in view the course content requirements.
• "Schedule III" as per the Companies Act 2013, with all details in the chapter Company Financial Statements.
• Appropriate revision and updation of the Text in view of the enactment of The Companies Act, 2013 as amended by The Companies (Amendment) Acts, 2015 and 2017.
• Incorporation of the basic features of Ind AS 1: Presentation of Financial Statements and Ind AS 103: Business Combinations in appropriate chapters of the book. 
• A new chapter on Accounts of Non-profit Making Organizations.

Table of Content

Section-1: Accounting Principles and Processes:
1. Meaning and Scope of Accounting, 2. Accounting Principles, 3. Basic Accounting Terms, 4. Journalising Transactions, 5. Ledger Posting and Trial Balance, 6. Sub-Division of Journal, 7. Negotiable Instruments, 8. Bank Reconciliation Statement, 9. Matching Concept, 10. Capital and Revenue, 11. Final Accounts, 12. Rectification of Errors, 13. Depreciation, Provisions and Reserves, 14. Accounts of Non-Profit Making Organizations, 15. Single Entry System

Section-2: Special Accounting Problems:
1. Consignment Accounts, 2. Joint Venture Accounts, 3. Hire Purchase, Lease and Instalment Purchase Systems, 4. Branch Accounts, 5. Account Current and Average Due Date, 6. Inventory Valuation

Section-3: Partnership Accounts:
1. Fundamentals, 2. Reconstitution of Partnership Firms (Admission), 3. Reconstitution of Partnership Firms-II (Retirement, Death and Amalgamation), 4. Dissolution of Partnership Firms,

Section-4: Company Accounts:
1. The Joint Stock Company, 2. Shares and Share Capital, 3. Debentures, 4. Company Financial Statements, 5. Acquisition of Business and Profit Prior to Incorporation, 6. Internal Reconstruction,7. External Reconstruction, Amalgamation and Absorption

Section-5: Cost and Management Accounting:
1. Management Accounting: Nature and Scope, 2. Financial Statements: Analysis and Interpretation, 3. Funds Flow Statement, 4. Cash Flow Statement