It gives us immense pleasure to present the First Edition of Financial Accounting, which has been carefully developed to align with the First Year B.Com. (Accounting and Finance) curriculum under the University of Mumbai, as per the guidelines of the National Education Policy (NEP) 2020 and is applicable from the academic year 2024–25. The objective of this book is to give students a clear and practical understanding of incomplete records, consignment accounting, branch accounting, and fire insurance claims as applied in real business situations.
This book presents a clear and structured understanding of key accounting concepts essential for academic learning and practical application. It covers Accounting from Incomplete Records, Consignment Accounts, Branch Accounts, and Fire Insurance Claims with simplified explanations and solved illustrations. Each topic is designed to develop analytical skills through systematic procedures and practical problem-solving. The content emphasises conceptual clarity, accuracy in computation, and real-life applicability. Special care has been taken to align the chapters with the syllabus requirements and exclude advanced or complex provisions where specified.
Contents –
1 Accounting from Incomplete Records
2 Consignment Accounts
3 Branch Accounts
4 Fire Insurance Claims
Model Question Paper