Accounting is language of business, it has its own grammar and rules. It is difficult to understand accounting for a lay man. We believe that accounting is natural and obvious for a rationale man. Accounting is part and parcel of the life. A rationale man is always maintaining his own account in implied or express way. Author attempts to explain accounting by simplifying accounting concepts, theory and illustration in lucid manner through routine life examples. Highly technical matters have been explained through illustration of real life. It has been taken sufficient care that in...