This book explains all the important concepts of accounting and bookkeeping to its readers. Completed with numerous illustrations, solved examples, end-of-chapter questions, a list of the institutes in the whole world which provide this course, and a glossary of important terms. This book will help you out to understand the difficult concepts easily. All the concepts you have to learn in this course are provided in this book. This book covers the topics related to the introduction of accounting, the difference between bookkeeping and accounting, about the special books, how to prepare journal, ledger final accounts, and it helps you to understand how banks record the transactions.
Accounting is the process of recording financial transactions about a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company’s operations, financial position, and cash flows.