This book is designed as per Financial Accounting and Advanced Financial Accounting, B.ComSemester I & II, curriculum of various universities of Tamil Nadu. Written with a student friendly approach, itis organised to provide the readers with adequate knowledge on the basics of Financial Accounting. Itaims at imparting accounting concepts in a simplified manner, thorough understanding to an averagelearner. Each chapter is supported with numerous illustrations to help students acquire in-depth knowledgeof the concepts; and review questions for easy recap. Additional exercise problems ranging fromsimple to complex are listed for enhancing earning skills and problem-solving capabilities