This textbook of Accountancy (Part – 1) will help the students to enrich their knowledge of Financial Accounting. Published by the NCERT, it is written in a simple, easy to understand format so that students of Class IX are able to grasp the same with ease. It covers all the topics based on the syllabus set by the Central Board of Secondary Education.

Table of Contents

• Chapter 1 Introduction to Accounting

• Meaning of Accounting

• Accounting as a Source of Information

• Objectives of Accounting

• Role of Accounting

• Basic Terms in Accounting

• Chapter 2 Theory Base of Accounting

• Generally Accepted Accounting Principles (GAAP)

• Basic Accounting Concepts

• Systems of Accounting

• Basis of Accounting

• Accounting Standards

• Chapter 3 Recording of Transactions - I

• Business Transactions and Source Document

• Accounting Equation

• Using Debit and Credit

• Books of Original Entry

• The Ledger

• Posting from Journal

• Chapter 4 Recording of Transactions - II

• Cash Book

• Purchases (Journal) Book

• Purchases Return (Journal) Book

• Sales (Journal) Book

• Sales Return (Journal) Book

• Journal Proper

• Balancing the Accounts

• Chapter 5 Bank Reconciliation Statement

• Need for Reconciliation

• Preparation of Bank Reconciliation Statement

• Chapter 6 Trial Balance and Rectification of Errors

• Meaning of Trial Balance

• Objectives of Preparing the Trial Balance

• Preparation of Trial Balance

• Significance of Agreement of Trial Balance

• Searching of Errors

• Rectification of Errors

• Chapter 7 Depreciation, Provisions and Reserves

• Depreciation

• Depreciation and other Similar Terms

• Causes of Depreciation

• Need for Depreciation

• Factors Affecting the Amount of Depreciation

• Methods of calculating Depreciation Amount

• Straight Line Method and Written Down Method

A Comparative Analysis

• Methods of Recording Depreciation

• Disposal of Asset

• Effect of any Addition or Extension to the

Existing Asset

• Provisions

• Reserves

• Secret Reserve

• Chapter 8 Bill of Exchange

• Meaning of Bill of Exchange

• Promissory Note

• Advantages of Bill of Exchange

• Maturity of Bill

• Discounting of Bill

• Endorsement of Bill

• Accounting Treatment

• Dishonour of a Bill

• Renewal of the Bill

• Retiring of the Bill

• Bills Receivable and Bills Payable Books

• Accommodation of Bills

Salient Features of the Textbook

• Tabular representation makes the learning easy for the students.

• ‘Summary’ at the end of the chapter helps the students to recap the important points they have studied in the chapter.

• Numerous exercises help the students to self-assess their knowledge base.

• ‘Test Your Understanding’ section in every chapter makes it easy for the student to comprehend the concept better.