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1.0 Preface

Uploaded by

Bangladesh Gonit Foundation
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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[For BBA (Hons/Pass/Prof.), MBA, CMA, MBM, B.Sc.

(Econ.), B.Sc. (Eng.), CA (CL), A. Sc., Banking Diploma,


and Other Professional Exams.]

Accounting
Principles
Manual
ORIGINAL TEXT BY:
Donald E. Kieso
Jerry J. Weygandt
Paul D. Kimmel
Jill E. Mitchell

ORIGINAL MANUAL BY:


MUHAMMAD SHAMIM

Lyceum Publishers
1
Accounting Principles Manual
Accounting Principles Manual
Fourteenth Edition – 2024

Published by: Md. Golam Morshed


Lyceum Publishers
431, Islamia Market, Nilkhet.
Cell: 01711034227
Copyright © 2024
Copyright © 2022
Copyright © 2020
Copyright © 2010
Copyright © 2009
Copyright © 2006
Copyright © 2005
Copyright © 2004
Copyright © 2003
Copyright © 2002
Copyright reserved by: the Author
All rights reserved. This book is protected by copyright.
Neither this book nor any part may be reproduced or transmitted in
any form or by any means, electronic or mechanical, including
photocopying, microfilming, and recording, or by any information
storage, retrieval system or otherwise, without the prior written
permission of the author.
Computer composed by: Bangladesh Mathematics Foundation

Price: Tk. 550.00


ISBN 1-6666-5-0045-123
Printed in Dhaka, Bangladesh.
2
To

Kiraman Katibin,
the accountants for every human.

3
Accounting Principles Manual

Acknowledgments
My heart-felt thanks to Almighty Allah, my Creator, and Sustainer
for His energizing helps in turning my long-cherished dreams into
reality. I’ve also deeply acknowledged to the following persons,
and entities for their direct, and indirect contributions in
composition of this book:

John Wiley & Sons, USA


Dr. Donald E. Kieso, Northern Illinois University, USA
Dr. Jerry J. Weygandt, University of Wisconsin, USA
Dr. Paul D. Kimmel, University of Wisconsin – Milwaukee, USA
Mohammad Moinuddin Khan, University of Dhaka, Dhaka
Prof. Anisur Rahman, University of Dhaka, Dhaka
Md. Momtaj Uddin Ahmed, University of Dhaka, Dhaka
Md. Ainul Islam, University of Dhaka, Dhaka
Prof. Shahidul Alam, ICMAB, Dhaka
William W. Pyle, University of Hawaii, USA
Dr. C. Rollin Niswongr, Miami University, USA
Dr. Philip E. Fess, University of Illinois, USA
Dr. Belverd E. Needles, Jr., DePaul University, USA
Dr. Henry R. Anderson, University of Central Florida, USA
Dr. James C. Caldwell, Andersen Consulting, Dallas, USA
Dr. Sherry K. Mills, New Mexico State University, USA
Dr. Robert F. Meigs, San Diego State University, USA
Dr. Mary A. Meigs, San Diego State University, USA
Dr. Robert K. Eskew, Purdue University, USA
Dr. Daniel L. Jensen, The Ohio State University, USA
Md. Nasir Hussain, Janata Bank, Head Office, Dhaka
Aklima Chowdhury Lima, University of Dhaka, Dhaka
Mr. Dulal Babu, Sumona Boi Ghar, Bangla Bazer
Tofazzal Hossain, University of Chittagong, Chittagong
Farook Ahmed Chunnu, Multimedia Zone, Dhaka
Md. Golam Morshed, Lyceum Publishers, Dhaka
Lyceum Publishers, Dhaka
4
Preface to the Fourteenth Edition
In the name of Allah, the Beneficent, the Merciful.
All praise to Allah for publishing the seventh edition of
Accounting Principles Manual. The book has been thoroughly
revised and enlarged according to the current demands of readers’
society. Specially, this edition is the accumulation of students’
multidimensional needs along with a huge amount of needful
solution materials. It is hoped that the book with these changes
will be more helpful to the readers.
October 01, 2023 M.S.

Preface to the First Edition


In the name of Allah, the Beneficent, the Merciful.
I’ve undertaken to draw up this book from the viewpoint of
scarceness of a accounting principles manual in the market for a
long time. I strongly believe that the students of business studies
would be benefited by this book. Accounting Principles Manual
(Accounting in Action) is intended for a comprehensive study of
the learners. Needful elements are attached in this book for the
students’ amenities. Theories, and solutions are designed to
facilitate the learners’ widespread practices.
As it’s the first edition of this work, it’s not
impossible of occurring some mistakes. Any suggestions for the
improvement of this book, and intimation of errors will be
thankfully received.

Muhammad Shamim
Department of Actuarial Science
August 08, 2002 Actuarial Society of India, Mumbai 400001.

5
Accounting Principles Manual

Table of Contents
Chap. Titles Page No.
Preface 5–5
Important Information 9 – 16
Chapter 1 Accounting in Action 17 – 68
Chapter 2 The Recording Process 69 – 120
Chapter 3 Adjusting the Accounts 121 – 192
Chapter 4 Completing the Accounting Cycle 193 – 270
Chapter 5 Accounting for Merchandising Operations 271 – 338
Chapter 6 Inventories 339 – 396
Chapter 7 Accounting Information System 397 – 452
Chapter 8 Fraud, Internal Control, and Cash 453 – 494
Chapter 9 Accounting for Receivables 495 – 536
Chapter 10 Plant Assets, NR, and IA 537 – 582
Chapter 11 Current liabilities and Payroll Accounting 583 – 622
Chapter 17 Statement of Cash Flows 623 – 676
Accounting Theories 677 – 752

6
Books by the Same Author:
1. Business Mathematics Manual (Sancheti & Kapoor Solution)
2. Mathematics Solutions Manual (Bowen, Prichett & Saber)
3. Business Statistics Manual (S. P. Gupta & M. P. Gupta)
4. Accounting Principles Manual (Kieso, Weygandt, Kimmel)
5. Projects Solutions Manual (Prasanna Chandra)
6. Business Mathematics (Textbook for BBA & MBA)
7. Business Statistics (Textbook for BBA & MBA)
8. Research Methodology (Textbook for BBA & MBA)
9. Accounting Principles (Textbook for BBA)
10. Management Accounting (Textbook for BBA & MBA)
11. Cost Accounting (Textbook for BBA)
12. Principles of Finance (Textbook for BBA)
13. Exam Kit (BBA First Semester)
14. Exam Kit (BBA Second Semester)
15. Exam Kit (BBA Third Semester)
16. Exam Kit (BBA Fourth Semester)
17. Exam Kit (BBA Fifth Semester)
18. Exam Kit (BBA Sixth Semester)
19. Exam Kit (BBA Seventh Semester)
20. Exam Kit (BBA Eighth Semester)
21. Exam Kit (MBA First Semester)
22. Exam Kit (MBA Second Semester)
23. Fun Math
7
Accounting Principles Manual
24. gnv gRvi MwYZ
25. cvB() †Kv_vq bvB-1
26. cvB() †Kv_vq bvB-2
27. ixgvb nvB‡cvw_wmm cÖgv‡Yi c‡_...
28. Am¤¢e MwYZ (P versus NP Problem)
29. AvZœiÿvi MwYZ
30. cvB‡qi n¨vÛ K¨vjKz‡jkb
31. MvwYwZK cY¨ I GgGm g¨v_ d¨v‡±vix
32. MvwYwZK wPwKrmv I GgGm g¨v_ nmwcUvj
33. gnvwe‡k¦i me‡P‡q KwVb MwYZ mgm¨v
34. MwYZ Avb›`
35. |MW| nvB‡cvw_wmm (fvm©b-1) (jv-Bjvnv Bjøvjøvn&)
36. |MW| nvB‡cvw_wmm (fvm©b-2) (mewKQz †Rvovq †Rvovq m„ó)
37. |MW| nvB‡cvw_wmm (fvm©b-3) (mK‡ji wiwR‡Ki `vwqZ¡ Avjøvn&i)
38. |MW| nvB‡cvw_wmm (fvm©b-4) (Kzb dv-BqvKzb)
39. gRvi MwYZ-1
40. gRvi MwYZ-2
41. gRvi MwYZ-3
42. gRvi MwYZ-4
43. gRvi MwYZ-5
44. gRvi MwYZ-6
45. gRvi MwYZ-7
46. gRvi MwYZ-8
47. gRvi MwYZ-9
48. gRvi MwYZ-10
49. gRvi MwYZ mgMÖ (1-10)
50. MwYZ Kve¨-1

8
Symbols of
Currencies
There are 180 currencies recognized as legal tender in United
Nations (UN) member states. Some of them are as follows:

$ = Dollar; (1st Most Traded Currency)


€ = Euro; (2nd Most Traded Currency)
¥ = Japanese Yen; (3rd Most Traded Currency)
£ = British Pound; (4th Most Traded Currency)
¥ = Chinese Renminbi; (5th Most Traded Currency)
৳ = Bangladeshi Taka;
BDT = Bangladeshi Taka (ISO Code);
BD = Bahraini Dinar;
₩ = South Korean Won (Money);
= Turkish Lira;
= Indian Rupee
Re/Rs = Pakistani Rupee/Rupees;

9
Accounting Principles Manual
US$ = US Dollar;

¢ = US Cent

HK$ = Hong Kong Dollar;

₸ = Kazakhstani Tenge;

₦ = Nigerian Naira;

₱ = Philippine Peso;

‫( ﷼‬RI) = Saudi Riyal;

฿ = Thai Baht;

Fr = Swiss Franc;

zł = Polish Zloty;

₮ = Mongolian Togrog;

₭ = Lao Kip;

KD = Kuwaiti Dinar;

₪ = Israeli New Shekel.

10
Leading
Accounting Software
Top 5 Accounting Software (Bangladeshi Co.) are as
follows:

1. Troyee Accounting Software

2. Roopokar

3. Smart Software Ltd.

4. Jibika Plexus

5. Star IT

11
Accounting Principles Manual

Leading
Accounting Software
Top 5 Accounting Software in the world are as
follows:
1. Oracle NetSuite

2. SAP

3. Sage Group

4. QuickBooks

5. Tally Solutions

12
Leading
Accounting Firms
Top 5 Accounting Firms in the world are as
follows:

1. Deloitte

2. PwC (PricewaterhouseCoopers)

3. Ernst & Young

4. KPMG

5. Binder Dijker Otte

13
Accounting Principles Manual

Leading
Accounting Firms
Top 5 Accounting Firms (Bangladeshi) are as
follows:

1. Rahman Rahman Huq (RRH)

2. ACNABIN

3. A. Qasem & Co.

4. Howladar Yunus & Co.

5. Hoda Vasi Chowdhury & Co.

14
The Institute of Chartered Accountants of Bangladesh (ICAB)

CIRCULAR
Admission for Pre-Articled Students
START CHARTERED ACCOUNTANCY
WHEN YOU STUDY IN COLLEGE/UNIVERSITY!!

Certificate Level Examinations for Undergraduate and Post


Graduate level Students of Colleges/Universities

It is our pleasure to inform you that the Institute of Chartered


Accountants of Bangladesh (ICAB) is going to offer
Certificate Level Exams for Undergraduate and Graduate
level Students of Colleges and Universities.

Entry Criteria to Study Chartered Accountancy


1. Under Graduates:
Aggregated Minimum GPA 8 in Both SSC and HSC or
Equivalent Examinations.
Period of Articleship: Four (4) years

2. Graduate Students:
Graduates or Post- graduates in any discipline having minimum 07
(seven) points with no third division/ third class from any
recognized Board/Public University/ National University/ Private
University/ Institute (as approved by University Grants
Commission of Bangladesh).
15
Accounting Principles Manual
Period of Articleship: Three (3) years

For details, please visit:


https://www.icab.org.bd/page/pre-articleship-program

For more details, please contact:


Muhammad Shamim
Cell: 01815443199
Bangladesh CA Academy

Bangladesh CA Academy (BCA) gives you the


full study supports on –
1. CA Certificate Level (MCQ Exam System)
2. Accounting
3. Business Mathematics
4. Business Statistics
5. Finance
Contact Cell: 01815443199
16

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