Taxmann's Financial Accounting [UGCF | NEP] – Comprehensive | NEP-aligned Text Covering UGCF Requirements—Ind AS | GST—Offering Theory & Practice through Two-volumes
About this ebook
This book is intended for the following audience:
• Undergraduate Students of Commerce and Management streams, particularly those in the University of Delhi (including NCWEB and SOL)
• Postgraduate Students in commerce-related courses where fundamental financial accounting is required
• Professional Aspirants preparing for exams or seeking to strengthen their basics in financial accounting
• Faculty Members teaching accounting in various universities, colleges, and distance education programs
• Other Learners who wish to gain a solid understanding of financial accounting principles under Indian Accounting Standards (Ind AS) and relevant statutes
The Present Publication is the 13th Edition, authored by Bhushan Kumar Goyal and Dr H.N. Tiwari, and includes several noteworthy features:
• [Comprehensive Content] Covers theoretical framework, practical procedures, and the latest provisions of Ind AS and GST
• [Student-oriented Approach] Written in simple language with systematic explanations, focusing on concepts students often find challenging
• [Numerous Solved Illustrations] Detailed working notes accompany examples to provide clarity and step-by-step guidance
• [Practical Assignments & T/F Questions] Volume II includes ample practice material—True/False questions with answers, practical questions, and previous years' question papers
• [Conformity with Standards] Accounting treatments align with relevant Accounting Standards (AS and Ind AS) and applicable statutes
• [Coverage of NEP/UGCF Syllabus] Reflects the latest academic requirements set by the University of Delhi and other institutions adopting NEP guidelines
• [Special Emphasis on GST] Dedicated sections on the accounting treatment of Goods and Services Tax (GST).
• [Latest Question Papers] Incorporates questions from recent exams (including January 2025) as illustrations and in the assignment section
• [Comprehensive Educational Resource] Suitable as a primary textbook and reference guide, it provides both theoretical insights and substantial practice material.
The coverage of the book is as follows:
• Volume I – Text & Illustrations
o Conceptual Framework & Accounting Principles (GAAP, Ind AS, IFRSs, etc.)
o Capital and Revenue Expenditures and Receipts
o Events Occurring After the Balance Sheet Date
o Extraordinary Items, Prior Period Items, Accounting Estimates, Accounting Policies & Fair Value
o Provisions, Contingent Liabilities & Contingent Assets
o Financial Accounting Principles
o Detailed Introduction to Accounting Standards and Ind AS
o Complete Accounting Process (Journal, Ledger, Subsidiary Books, Trial Balance)
o Accounting for GST
o Measurement of Business Income & Revenue Recognition
o Property, Plant, Equipment & Depreciation
o Accounting for Intangible Assets
o Inventory Valuation
o Financial Statements of Non-Corporate Business Entities
o Financial Statements of Not-for-Profit Organizations
o Accounting for Inland Branches
o Departmental Accounting
o Lease Accounting
o Computerised Accounting System (Authored by Mr. H. N. Tiwari)
• Volume II – Assignments & Previous Year Papers
o Objective (True/False) Questions with Answers
o Practical Exercises aligned with each chapter
o Topic-wise Illustrations & Case Studies for deeper practice
o Latest and Previous Year Question Papers (including January 2025 exams)
The structure of the book is as follows:
• Logical Flow of Chapters – From the fundamentals of accounting systems and GAAP/Ind AS, the text builds towards advanced topics such as lease accounting and computerised accounting systems
• Two-volume Format
o Volume I focuses on conceptual clarity, theoretical explanations, and detailed solved illustrations
o Volume II provides extensive practice material—objective questions, practical question sets, and previous exam papers—to reinforce learning
• User-friendly Design – Each chapter includes step-by-step illustrations, summaries, and notes to facilitate quick revision and better comprehension
• Practical Orientation – Emphasis on accounting problems and solutions, reinforcing conceptual understanding with practice questions
About the author
Bhushan Kumar Goyal is an Associate Professor of Accounting at Shri Ram College of Commerce (SRCC), University of Delhi. An alumnus of SRCC, he holds a B.Com. (Hons) and M.Com., and later added an LL.B. from the University of Delhi. Over a teaching career spanning more than four decades at SRCC, he has also served as visiting faculty for the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India. Prof. Goyal is the author of numerous widely used texts, including:
• Financial Accounting & Auditing
• Basic Financial Accounting
• Corporate Accounting
• Fundamentals of Corporate Accounting
• Business Laws
• Problems & Solutions in Financial Accounting
Dr Harendra Nath Tiwari is an Associate Professor of Commerce at Shri Ram College of Commerce (SRCC), University of Delhi. A double alumnus of the University of Delhi, he earned his M.Com. from the Department of Commerce and his PhD in Finance from the Department of Finance & Business Economics.
With more than sixteen years of teaching and training experience at the UG and PG levels, Dr Tiwari blends finance expertise with technology-driven pedagogy. He has published extensively in national and international journals and authored several books on computer applications and financial accounting. A sought-after resource person, he leads faculty development programmes on research methodology. He leverages Excel and SPSS for data-driven decision-making and conducts hands-on workshops that equip students with practical analytics skills for finance.
