Even senior executives find it puzzling how the innumerable transactions that take place in a company across the country and sometimes across the globe over a period of one year are neatly condensed into two elegant one page each, financial statements – The Profit and Loss Account and the Balance Sheet. On a day to day basis, when accountants explain transactions in terms of “debit” and “credit”, this can be confusing and difficult to comprehend.

In six simple lessons, Mr. M. Benedict captures these accounting processes precisely and presents them in a lucid and simple manner. This course will be of immense benefit to Managers/ Administrators and students of professional courses in Commerce and Management to understand the Basics of Financial Accounting.

The following topics are covered in six lessons:

1. Introduction to Financial Accounting

2. Journals

3. Ledger Accounts

4. Subsidiary Books and Trial Balance

5. Preparation of Trading and Profit & Loss Account

6. The Balance Sheet

About the Author
Mr. M. Benedict who wrote these six lessons has considerable experience in teaching Financial Accounting to introductory students of Commerce and Accounting. He taught at SCP Jain College and since 2004, has been associated with the renowned MCC Higher Secondary School, Chennai as a Post Graduate teacher in Commerce. Mr.Benedict is a popular teacher and counsellor and is a guide to many research scholars. He is currently working for a Doctorate in Financial Management.