Financial Accounting

CONTENTS

Preface

1. INTRODUCTION TO ACCOUNTING

Introduction

Meaning of Accounting

Accountancy, Accounting and Book-keeping

Relationship Between Accountancy, Accounting and Book-keeping

Distinction Between Book-keeping and Accounting

Meaning of an Accounting Cycle

Users of Accounting Information and Their Needs

Primary Objectives of Accounting

Types of Accounting Information

Advantages of Accounting

Limitations of Accounting

Qualitative Characteristics of Financial Statements

Branches of Accounting

Basic Accounting Terminology

Double Entry System of Book-keeping

Relationship of Accounting with Other Discipline

Role of an Accountant in the Society

Accrual Basis of Accounting and Cash Basis of Accounting

Distinction Between Accrual Basis of Accounting ...