Table Of ContentFinancial
Accounting
for Bangalore University
As per CBCS Syllabus 2014–15 as Revised in March 2017 for
B.COM SEMESTER-I
About the Author
Ruqsana Anjum is currently working as an Assistant Professor at St. Joseph’s College of Com-
merce (Autonomous), Bangalore and is a visiting faculty at ICAI (works) and various other man-
agement institutes.
CMA Ruqsana Anjum has completed her M.Phil in Commerce from Madurai Kamraj University;
M.Com from Mount Carmel College, Bangalore University and B.Com from AK College,
Bangalore. She is currently pursuing Ph.D in the field of Finance from Aligarh Muslim University
(AMU), Uttar Pradesh. She has secured All India 46th rank in ICWA (Final) examination (2010) and
cleared NET examination conducted by UGC. She is a member of Institute of Cost Accountants
of India and a fellow member of Chartered Institute of Management Accounting London (U.K.).
Professor Ruqsana has been actively involved in the field of academics and has a teaching
experience of over fifteen years. She has authored several research articles in professional journals
in the field of Finance, Accounting, Management and one minor research project in the field of
Humanities. Professor Ruqsana has participated in various seminars, workshops, national and
international conferences. Her acumen in research is highly appreciated and the papers presented
by her at various conferences have been acclaimed in respective domains.
Financial
Accounting
for Bangalore University
As per CBCS Syllabus 2014–15 as Revised in March 2017 for
B.COM SEMESTER-I
Ruqsana Anjum
Assistant Professor
St. Joseph’s College of Commerce
Bangalore
McGraw Hill Education (India) Private Limited
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Financial Accounting
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Dedicated to
Almighty God
&
My Mother
Preface
This book is written for the course on Financial Accounting as per the syllabus prescribed by Ban-
galore University for B.Com Semester I. It provides the needed inputs for students to master theory
and practice of the subject in a systematic and simple language.
Due care has been taken to align different accounting treatments as per the latest provisions
prescribed by the Companies Act 2013, along with relevant Indian and International Accounting
Standards.
The book consists of abundant illustrations based on own creation and previous years’ question
papers of B.Com ‘Bangalore University (Dec 2003 to 2017)’ besides questions from foundation
and inter level professional examinations. Latest three years’ question papers (2015–2017) are
solved at the end of the book which will help the students to have an insight of the examination
pattern after thorough understanding of the content.
I sincerely hope that the students of all the commerce related streams—B.Com, BBA, BCA,
CA (Inter), ICWA, M.Com will find this book invaluable in their preparations. While every effort
has been made to provide comprehensive and up-to-date coverage of all topics, the scope for
further improvement is always there as it is an on-going process. Therefore, I earnestly request the
readers to send in their suggestions to enable us to make improvements in this book. These will be
thankfully received and, if found useful, incorporated and acknowledged in subsequent editions.
Ruqsana Anjum
Acknowledgements
I am thankful to the Almighty God for the grace bestowed upon me to complete the book. This book
would not have been possible without the sincere and sustained support of my family. All my love
goes to my son, Mohammed Hamdaan, who, just at the age of five, has been very understanding
and accommodating, otherwise, this book would have been a distant reality.
I owe my gratitude to a host of colleagues and friends. In this connection, the contributions made
by Ms. Shoba N.S. deserves a special mention.
I gratefully acknowledge the moral support and encouragement received in my personal as well
as professional endeavors from our Principal Rev. Dr. Daniel Fernandes, St. Joseph’s College of
Commerce.
My thanks are due to the team at McGraw Hill Education (India)—Mr. Suman Sen for providing
me this opportunity and being an excellent mentor; Mr. Amit Chatterjee for his commendable
cooperation and guidance at every stage of book writing; Ms. Laxmi Singh, for her support and
guidance; and the entire production and marketing teams for their untiring efforts in bringing this
book out in time and in a fine get-up.
I owe a special note of thanks to a host of reviewers for their valuable suggestions and knowledge
sharing in the course of writing this manuscript.
I will consider myself amply rewarded, if this book is found useful by the readers.
Ruqsana Anjum
