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→How the topic is discussed in NCERT Books
NCERT Class XI has 'Financial Accounting - I' text book, which gives much more detailed explanation of Accounting. Chapter 1 provides an introduction to accountancy and [http://www.ncert.nic.in/ncerts/textbook/textbook.htm?keac1=2-8 Class XI - Financial Accounting - Chapter 2] discusses basic accounting concepts which is very much required to understand the subject.
NCERT Class XI has 'Financial Accounting - I' text book, which gives much more detailed explanation of Accounting. Chapter 1 provides an introduction to accountancy and [http://www.ncert.nic.in/ncerts/textbook/textbook.htm?keac1=2-8 Class XI - Financial Accounting - Chapter 2] discusses basic accounting concepts which is very much required to understand the subject.
Chapter two also discusses two other related items - accounting principles/practices (including the General Accepted Accounting Principles,called GAAP in short) and accounting conventions.
Chapter two also discusses three other related items - accounting principles/practices (including the General Accepted Accounting Principles,called GAAP in short), accounting conventions and accounting standards.
Both accounting principles and conventions inform/influence the actual practice of accountancy.
Both accounting principles and conventions inform/influence the actual practice of accountancy.
The professional accounting bodies (such as the [http://icai.org/ Institute of Chartered Accountants of India]), draft the accounting principles and standards to keep evolving with changing requirements.
[[Text_books_ncert_accountancy | Click here for NCERT Accountancy text books]]
[[Text_books_ncert_accountancy | Click here for NCERT Accountancy text books]]