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The thoroughly updated and rewritten edition analyses and explains the applications of financial accounting. Divided into 15 chapters, the text explains, with the help of tables, boxes and practical examples, all basic accounting principles.

Provides an insight into the concepts pertaining to financial accounting in the most simplified way. With clear and concise presentation and systematic discussion of the concepts, the text helps in developing the basic understanding of corporate financial reporting.

The book addresses debates in the field of corporate governance and provides an insight into advancing and improving corporate governance practices in India.