S.K. Agrawal, Manmeet Kaur Accounting

Accounting is the systematic process of recording, classifying, summarizing, and interpreting financial transactions of an organization. It provides essential information about a business’s financial performance and position, enabling stakeholders to make informed decisions.

The subject covers fundamental concepts such as the accounting cycle, double-entry system, journal entries, ledgers, trial balance, financial statements, depreciation, inventories, and error rectification. It also includes an understanding of accounting standards, internal control systems, and the preparation and analysis of profit & loss accounts and balance sheets.

Designed for students, professionals, business owners, and anyone involved in financial decision-making, Accounting builds a strong foundation for understanding how businesses operate financially. It helps in tracking income and expenses, ensuring compliance, planning budgets, and maintaining transparency and accuracy in financial reporting.