Financial accounting play important role in recording, classifying, summarizing, analyzing and communicating the business transactions. Financial accounting is a language of the business

This report covers the following aspects:-

1.    Introduction

2.    Origin and development

3.    Development in India

4.    Financial accounting fundamentals

5.    Nature and purpose of Accounting

6.    Basic purpose of financial accounting

7.    Concepts of Accounting

8.    Pure accounting view point

9.    Golden rules of accounting

10.  Future of financial accounting

11.  Discussion on accounting

12.  Tools and techniques

13.  Study of balance sheet

14.  Difference between balance sheet and trial balance

15.  Adjusted trial balance

16.  Analysis of balance sheet

17.  Journal entries

18.  Summary

19.  Conclusion

20.  Suggestions

21.  Bibliography

Though the financial accounting is very complicated and tough in understandings. But it required continuous practice for learning. Theoretical and practical, both the part must be clear.