The book, now in its second edition, continues to provide a thorough and updated study of the text and cases included from the real-life shop floors. The comprehensive book gives an in-depth analysis of the fundamental concepts, principles and conventions of accounting. It further dwells onto the topics like balance sheet analysis, reading of annual report and capital structure planning, in detail. The theory is flawlessly combined with the practical elements taken from the top-notch multinational companies of the country, to provide the students an analytical insight on the current market scenario. Primarily intended for the undergraduate and postgraduate students of commerce, this book is equally beneficial for the postgraduate students of management. New to this edition: updated cases on infosys, wipro, glaxosphi - mithkline and nestle, recent annual reports of ingersoll-rand india liphi - mited.