Advanced Financial Accounting

The comprehensive textbook covers all the topics prescribed for various professional examinations (e.g., Chartered Accountants, Cost and Works Accountants and Company Secretaries), and in the syllabi of Universities and Colleges for courses in financial accounting at the Honours or Postgraduate level. It is suitable both for self-study and as a textbook in the class room.

The book uses a three tier approach in helping students master difficult and complex topics in financial accounting. First, the nature of the transactions or event to be recorded is explained, assuming that the student has only a preliminary understanding of the same. Then the underlying theory and accounting standards applicable to the situations are explained. Finally, the accounting treatment is presented with the help of numerous examples and illustrations. Each chapter is supported by a number of questions and problems that provide an opportunity to the student to test what he has learnt. A compendium volume to this book, Advanced Problems in Financial Accounting, contains many more problems together with solutions.

About The Author:

Dr. Surendra P. Agrawal is a Professor in the School of Accounting, Memphis State University, USA. He obtained his Ph.D. from University of Florida, and has the professional qualification of Chartered Accountant, Certified Public Accountant and Certified Management Accountant. He worked in industry and in the accounting profession in India and served as the Deputy Director of Research at the Institute of Chartered Accountant of India for many years. He has also taught at some other Universities, such as the National University of Singapore and the Ohio State University of USA. He has published several research studies and his papers have appeared in leading journals in India, USA, UK, Canada and Australia.


Dr. P.C. Jain is a Reader and the Head of the Commerce Department at Shri Ram College of Commerce. He obtained his Ph.D. from Delhi University. He has published a number of research studies and his papers have published in leading journals.

Table Of Contents:

• Accounting Theory
• Review of the Accounting Process
• Current Assets and Liabilities-I
• Current Assets and Liabilities-II
• Long Term Assets
• Long term Borrowing and Investments
• Partnership Accounting
• Share Capital Reserve and Dividends
• Business Combination and Consolidation
• Changes in Financial Position, Inflation Accounting and Statement of Value Added
• Analysis of Financial Statements
• Internal Reconstruction and Liquidation
• Special Business Activities
• Bank, Fund and Insurance Accounts
• Accounting Standards : Indian and International