Principles and Practice of Accounting focuses on providing basic conceptual knowledge of Accounting for preparation of Financial statements, computing accounting ratios and solving simple problems.This paper is intended to give all of you, the upcoming chartered ‘ACCOUNTANCY’ students with a strong foundation helping to enhance your studies in further levels.
The topics covered in this paper is,
- Theoretical Framework, Accounting process, bank reconciliation statement, Inventories, Depreciation
- Special transactions such as consignment, Joint venture, Bills of exchange, Royalties, Average due date and account current
- Final Accounts of Sole Proprietors, Partnership accounts, Introduction to company accounts and
- Basic Accounting ratios
The best approach to study Principles and Practice of Accounting
- Accounting is a scoring subject at CA Foundation level. Practice well to score well ii. Solve a good number of problems
- Understanding the concepts thoroughly helps you to solve any kind of problem
- Syllabus is reasonably huge so, only way to remember everything is by repetitive revision
- Presentation is important but not as much as it was in your +2 level
- Practice the problems; do NOT JUST READ!
2 Lectures 
