We are presenting this book of Introduction to Accounting. It Covers the Rashtrasant Tukdoji Maharaj Nagpur University, Nagpur’s syllabus of B.com first semester as per NEP 2020. But we are certain it will also be useful to the students of other universities and faculties.
The book has been written with motives:
Firstly, presenting the subject as per the requirement of R.T.M. Nagpur University, Nagpur syllabus. The book has been divided in four parts.
Unit-I deal with the topics Meaning and definition of Accounting, Branches of Accounting, Accounting Concept, Convention and Principle, Interaction and Accounting with Different Business Verticals which provides the detailed knowledge to the learners.
Unit-II consists of the topics such as Accounting Transaction, Accounting Cycle, Rules of Accounting, Journal Entries, Ledger Posting, Subsidiary Books, Journal Proper.
Unit-III has the topic of Rectification of Errors which gives the learners or beginners detailed understandable knowledge of the topics.
Whereas Unit-IV deals with Accounting Standards and International Financial Reporting Standards from which the students Will able to understand how the financial reporting is presented.
Secondly, the aim has been to give utility and make the book self-explanatory. Adhering to these motives, illustrations, charts and examples have been provided in various topics.
Contents –
Unit-I
1. Basics of Accounting
2. Branches of Accounting
3. Accounting Concepts, Conventions and Principles
4. Interaction of Accounting with Different Business Verticals
Unit-II
1. Accounting Transaction
2. Accounting Cycle
3. Rules of Accounting
4. Journal Entries
5. Ledger Posting
6. Subsidiary Books
Unit-III
1. Rectification of Errors
Unit-IV
1. Accounting Standards
2. AS 1: Disclosure to Accounting Policies, AS 9: Revenue Recognition, AS 10: Accounting for Fixed Assets
3. International Financial Reporting Standards
4. IAS-1: Presentation of Financial Statements, IAS-2: Inventories
