•; Updated position regarding IFRSs and steps for their convergence in India. •; Two new topics, ';Companies Act & Financial Statements' and ';Depreciation & Company Accounts' have been incorporated in the relevant chapters of the book. •; Updated Schedule III regarding presentation of financial statements as per the Companies Act, 2013, along with actual financial statements of a company, has been incorporated as an Appendix to the book. •; Financial statements have been presented as per Schedule III to the Companies Act, 2013. Section - I: Accounting Fundamentals, 1. Meaning and Scope of Accounting, 2. Accounting Principles, 3. Basic Accounting Terms, 4. Journalizing Transactions, 5. Ledger Posting and Trial Balance, 6. Sub-division of Journal, 7. Negotiable Instruments, 8. Final Accounts, 9. Rectification of Errors, 10. Depreciation Provisions and Reserves, 11. Inventory Valuation, Section - II: Cost And Management Accounting, 1. Management Accounting: Nature and Scope, 2. Cost Accounting: Meaning and Scope, 3. Basic Cost Concepts, 4. Human Resource Accounting, 5. Innovative Concepts, 6. Activity Based Costing, Section - III: Financial Analysis, 1. Company Financial Statements, 2. Funds Flow Statement, 3. Cash Flow Statement, 4. Leverages, Section - IV: Planning and Control, 1. Budgetary Control, 2. Innovative Budgeting Techniques, 3. Standard Costing, 4. Variance Analysis, 5. Marginal Costing and Profit Planning, 6. Decisions Involvingalternative Choices 7. Pricing Decisions Section - V: Case Problems • Appendix: Presentation of Financial Statements • Index