Basics of Accounting - DF25S35

This study material provides a clear and structured introduction to the fundamentals of accounting. It explains business transactions, the purpose of accounting, types of accounts, golden rules, and core concepts such as accrual, matching, going concern, and cost. Students learn the complete accounting process—journal entries, ledger posting, trial balance, adjustments, and preparation of financial statements. The book also covers inventory valuation, depreciation methods, computerized accounting systems, GAAP, Accounting Standards, IFRS, and key terms used in practice. With simple explanations and practical illustrations, it equips learners with the essential skills required to understand and perform basic accounting confidently.