Financial AccountingFinancial Accounting presents the fundamental principles and concepts of accounting. Accounting conventions which are in vogue throughout the world, have been discussed in the book. _x000D_
Single-entry system played a very important role in accounting, which gradually paved way for a refined form of double-entry system. This aspect has been discussed at length. Concept of trading account, profit and loss account and balance sheet have been explained with appropriate illustrations. _x000D_
Fundamental concepts of hire purchase, calculation of interest, and risks involved in hire purchases have been explained.