Introduction: Meaning of principles of accounting; importance of accounting in marketing; Modern theory and practice of accounting; basic concepts and philosophy of debit and credit; Accounting equation, fundamentals of double entry system; Accounting cycle, Errors and their rectification; Adjusting and closing entries, Financial statement, Trading, Manufacturing &profit & loss Accounts and balance sheet, Single entry system; Accounts of non-trading concerns: Capital & revenue; Income and expenditure and receipts & payment Accounts; Bank Accounts: Principles and related accounts, accounts of joint stock companies; share issue; Financial account and other related accounts, joints venture accounts, branch accounts.