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Financial Accounting I is specially designed as an undergraduate textbook for the first year B Com (Hons and Gen.) students of University of Calcutta (CU). The book seeks to provide a comprehensive coverage of the basic principles of financial accounting, incorporating the latest accounting norms and standards. Written in a crisp and easy-to-understand style, the book also incorporates a large number of worked-out problems, solutions to relevant problems set by CU B Com (Hons and Gen.) and professional examinations such as CA, CS and CWA, thereby making it ideal for self-study. Key Features • Completely meets the requirements of the new CU B Com first semester course on Financial Accounting I • Contains more than 450 graded, solved illustrations with Problem Notes and detailed Working Notes • Includes relevant problems from last 20 years’ examinations of CU B Com, CA, CS and CWA, including a separate section in relevant chapters containing solved problems of CU examinations from 2012 to 2016 • Provides key conceptual issues in the form of numerous Student Notes and Concept Notes throughout the book Table of Contents 1. Introduction to Accounting 2. Double Entry Book-keeping System 3. Basis of Accounting 4. Basic Concepts and Conventions 5. Accounting Theory 6. Accounting Standards 7. Revenue Recognition 8. Accounting for Inventories 9. Accounting for Fixed Assets and Depreciation 10. Reserves and Provisions 11. Provisions on Debtors and Creditors 12. Capital and Revenue Transactions 13. Adjustment Entries 14. Rectification of Errors 15. Final Accounts of Sole Proprietorship Trading Concerns 16. Final Accounts of Manufacturing Concerns 17. Final Accounts from Incomplete Records: Single Entry 18. Final Accounts of Non-profit Organizations 19. Accounting for Consignment 20. Accounting for Sale on Approval Basis 21. Self-Balancing and Sectional-Balancing System 22. Insurance Claim: Loss of Stock 23. Insurance Claim: Loss of Profit.