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The thoroughly updated and rewritten edition analyses and explains the applications of financial accounting. Divided into 15 chapters, the text elucidates, with the help of tables, boxes and practical examples, all basic accounting principles. Keeping the students without accounting background into consideration, the book highlights the use of jargon-free language in a student-friendly manner so that they can comprehend the subject with great ease. The book is intended primarily for the postgraduate students of management, and also, for the students preparing for CA, CS and ICWA. Besides, practising managers should find this book handy for analysing financial statements. Highlights Of The Fifth Edition Ind AS revised up to April 30, 2019 Schedule III of the Companies Act, 2013 Numerous illustrations and solved problems to enable students to master the concepts Chapter-wise Solutions to Assignments at the end of the book Adequate study material that is a must for the management students in their first course