ABOUT THE BOOKThe salient features of this edition are:Partnership, a new method of dealing with joint life policy in chapter 12. • Joint Stock Companies. New schedule VI of the Companies Act with detailed instructions for preparing final accounts of joint stock companies has been added. Points of distinction between Share and Debenture have also been enumerated; SEBI guidelines regarding terms of issue of shares and debentures have been described in chapter 13. Self-Balancing Ledgers, an illustration on Total Creditors Account has been added inchapter 15.• Hire-Purchase, Instalments and Royalties. Default in case of hire-purchase and subsequent repossession of goods has been discussed and illustrated in detail. Treatment in the books of person receiving royalties has also been described. An illustration on royalties has been added in chapter 16. Amalgamation and Reconstruction of Joint Stock Companies. Sub-division andconsolidation of shares in chapter 19 added. Insolvency Accounts, a list of all the eight lists which have to be prepared has been given in chapter 20.Ratio Analysis, while discussing gross profit ratio, the formula of calculating this ratio has also been given. Net profit ratio (or Margin) has been added to the list ofratios explained in chapter 25.ABOUT THE REVISERSumer Chand Gupta, former Reader in the Department of Commerce at Hans Raj College,University of Delhi, is better known as S.C. Gupta in the literary world. While passing highersecondary examination of the Central Board of Secondary Education, he topped the list of allthe successful candidates of his school. Then he studied for 5 years in Sri Ram College ofCommerce (SRCC), University of Delhi to obtain B.Com. (Hons.) and M.Com. degrees. Heserved Hans Raj College for nearly 40 years, teaching Commerce, especially Accountancyto the students.Mr. Gupta is the co-author with Prof. M.C. Shukla and Sardar T.S. Grewal of Advanced Accounts and Solutions to Problems in Advanced Accounts, published by S Chand And Company Limited. The above-mentioned book, Advanced Accounts is recommended by different institutes holding professional examinations and different universities in India for different courses in Accountancy. Both the books are widely studied by a multitude of students.
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