Introduction To Accountancy

The salient features of this edition of 'Introduction to Accountancy' encompass:

• A fresh look and serial numbering of all illustrations and exercises.
• Partnership, a new method of dealing with joint life policy in chapter 12.
• Joint Stock Companies. New schedule VI of the Companies Act with detailed instructions for preparing final accounts of joint stock companies has been added. Points of distinction between Share and Debenture have also been enumerated; SEBI guidelines regarding terms of issue of shares and debentures have been described in chapter 13.
• Self-Balancing Ledgers, an illustration on Total Creditors Account has been added in chapter 15.
• Hire-Purchase, Instalments and Royalties. Default in case of hire-purchase and subsequent repossession of goods has been discussed and illustrated in detail. Treatment in the books of person receiving royalties has also been described. An illustration on royalties has been added in chapter 16.
• Amalgamation and Reconstruction of Joint Stock Companies. Sub-division and consolidation of shares in chapter 19 added.
• Insolvency Accounts, a list of all the eight lists which have to be prepared has been given in chapter 20.
• Ratio Analysis, while discussing gross profit ratio, the formula of calculating this ratio has also been given. Net profit ratio (or Margin) has been added to the list of ratios explained in chapter 25.
• These shall make the book a true guide to be welcomed by the students and teachers alike.