Accountancy

Project
ON
(RATIO + CASH
FLOW STATEMENT)
 I would like to express my special thanks of
gratitude to my teacher.
Who gave me the golden opportunity to do
this wonderful project, which also helped me
in doing a lot of research and, I came to know
about so many new things. I am really
thankful to them.
Secondly, I would also like to thank my
parents and friends who helped me a lot in
finalizing this project within the limited
timeframe.
 This is to certify that
a student of class - Xll has successfully
completed the research on this project
under my supervision.
He has taken proper care and shown
utmost sincerity in the completion of
this project. I certify that this project is
upto my expectations and as per the
guidelines issued by CBSE.
S.NO. TOPIC PAGE NO.

1 Introduction

2 History

3 Company’s Profile

4 Board Of Directors

5 Balance Sheet

6 Statement Of Profit & Loss

7 Accounting Ratio

a) Liquidity Ratio

b) Solvency Ratio

c) Activity Ratio

d) Profitability Ratio

8 Meaning Of Cash Flow Statement

9 Cash Flow Statement

10 Conclusion

11 Bibliography
 Introduction
...Of ITC
ITC Limited is one of India’s foremost private
sector companies, with a diversified presence
across industries like FMCG, hotels, paperboards,
packaging, and agribusiness. Founded as the
Imperial Tobacco Company in 1910, ITC has evolved
into a robust conglomerate, with ventures that
include an extensive range of consumer goods,
hospitality services, and agricultural solutions.
Known for its commitment to sustainable
practices, ITC has made significant strides in
areas like renewable energy, water conservation,
and waste management, becoming a leading
example of corporate responsibility.
Over the years, ITC has strengthened its brand
portfolio to encompass well-known names in
various categories, such as Aashirvaad, Sunfeast,
and Classmate, which enjoy substantial consumer
loyalty. The company’s strategic focus on
innovation and brand-building, combined with its
dedication to eco-friendly business practices, has
positioned it as a pioneering force in India’s
economic landscape. With a market presence that
continues to grow, ITC is a testament to
corporate resilience and adaptive strategies in
changing business environments.
 History
ITC was established in 1910 as the Imperial
Tobacco Company of India Limited in Kolkata,
originally focusing on the production and
distribution of tobacco products. Over the
decades, the company diversified its portfolio,
entering sectors such as hospitality, packaging,
and FMCG. By 1970, the company was
rebranded as ITC, marking a shift toward a
diversified, more inclusive identity that went
beyond its tobacco roots.

The 2000s saw ITC expanding aggressively in

the FMCG sector, investing heavily in brands
that became household names. As part of its
 transformation into a conglomerate, ITC
adopted sustainable and eco-conscious business
practices, such as water-positive, carbon-positive,
and solid waste recycling initiatives. This focus
on sustainability has helped ITC gain recognition
as a leading company, not only for its
commercial success but also for its
environmental and social contributions.
 Company Profile:-
Type Public

Imperial Tobacco Company of India

Founder
Limited (originally)

Founded August 24, 1910

Sanjiv Puri
Key People
(Chairman & Managing Director)

Headquarters Kolkata, West Bengal, India

Area Served Worldwide

No. Of Employees Over 30,000

Board Of Directors
Chairman Emeritus & Board Of Directors :-
Name Designations

Sanjiv Puri (Chairman &

Chairman
Managing Director)

(Executive Director - Finance &

Rajiv Tandon
IT)

Nakul Anand (Executive Director)

B Sumant (Executive Director)

Supratim Dutta (Chief Financial Officer)

Meera Shankar Independent Director

Shailesh V Haribhakti Independent Director

Hemant Bhargava Independent Director

Nirupama Rao Independent Director

Standalone Balance Sheet as at 31st March, 2024
As at As at
Note 31st March, 2024 31st March, 2023
( `in Crores) ( `in Crores)
ASSETS
Non-current assets
(a) Property, Plant and Equipment 3A 22015.50 20491.32
(b) Capital work-in-progress 3B 1077.97 1681.47
(c) Investment Property 3C 373.09 352.26
(d) Goodwill 3D 577.20 577.20
(e) Other Intangible assets 3E 2055.74 2037.42
(f) Intangible assets under development 3F 9.07 15.13
(g) Right-of-use assets 3G 721.69 715.91
(h) Financial Assets 4
(i) Investments 5 22821.94 16363.55
(ii) Loans 6 2.63 4.07
(iii) Others 7 372.88 23197.45 3608.23 19975.85
(i) Other non-current assets 1229.22 51256.93 1211.74 47058.30
Current assets
(a) Inventories 8 12631.51 10593.90
(b) Financial Assets 9
(i) Investments 10 11916.88 16357.07
(ii) Trade receivables 11 3311.45 2321.33
(iii) Cash and cash equivalents 12 197.63 206.88
(iv) Other Bank Balances 5 6020.06 3624.38
(v) Loans 6 9.10 5.95
(vi) Others 7 849.86 22304.98 705.84 23221.45
(c) Other current assets 1134.18 36070.67 1388.09 35203.44
TOTAL ASSETS 87327.60 82261.74
EQUITY AND LIABILITIES
Equity
(a) Equity Share capital 13 1248.47 1242.80
(b) Other Equity 70984.83 72233.30 66351.00 67593.80
Liabilities
Non-current liabilities
(a) Financial Liabilities
(i) Borrowings 14 1.76 3.28
(ii) Lease liabilities 15 261.95 273.59
(iii) Other financial liabilities 16 109.87 373.58 152.49 429.36
(b) Provisions 17 221.45 201.83
(c) Deferred tax liabilities (Net) 18 2083.66 2678.69 1621.13 2252.32
Current liabilities
(a) Financial Liabilities
(i) Borrowings 14 1.52 1.26
(ii) Lease liabilities 15 46.74 46.54
(iii) Trade payables
Total outstanding dues of micro enterprises
and small enterprises 206.85 137.50
Total outstanding dues of creditors other than
micro enterprises and small enterprises 4282.70 4213.76
(iv) Other financial liabilities 16 1659.33 6197.14 1730.68 6129.74
(b) Other current liabilities 19 5389.75 5446.16
(c) Provisions 17 68.72 63.59
(d) Current Tax Liabilities (Net) 20 760.00 12415.61 776.13 12415.62
TOTAL EQUITY AND LIABILITIES 87327.60 82261.74

The accompanying notes 1 to 31 are an integral part of the Standalone Financial Statements.
On behalf of the Board
In terms of our report attached For S R B C &
CO LLP Chartered Accountants Firm S. PURI Chairman & Managing Director
Registration Number: 324982E / E300003 Director & Chief Financial Officer
Arvind Sethi (DIN : 00280529)
Partner Company Secretary
S. DUTTA
(Membership No.: 89802)
Kolkata, May 23, 2024 (DIN : 01804345)

R. K. SINGHI
164 ITC Limited REPORT AND ACCOUNTS 2024
(Membership No.: FCS 3770)
Standalone Statement of Profit and Loss
for the year ended 31st March, 2024
For the year ended For the year ended
Note 31st March, 2024 31st March, 2023
( `in Crores) ( `in Crores)
I Revenue From Operations 21A, 21B 70105.29 70251.28
II Other Income 22 3538.28 2437.61
III Total Income (I+II) 73643.57 72688.89
IV EXPENSES
Cost of materials consumed 21309.84 19809.83
Purchases of Stock-in-Trade 6042.97 9109.85
Changes in inventories of finished goods, Stock-in-Trade,
work-in-progress and intermediates 23 (370.71) (39.50)
Excise duty 4664.48 4208.01
Employee benefits expense 24 3732.23 3569.46
Finance costs 25 45.73 41.81
Depreciation and amortization expense 1647.82 1662.73
Other expenses 26 10247.87 9649.16
Total expenses (IV) 47320.23 48011.35
Profit before exceptional items and tax (III-IV) 26323.34 24677.54
V
Exceptional Items (7.57) 72.87
VI 28(i)
Profit before tax (V+VI) 26315.77 24750.41
VII
VIIITax expense:
Current Tax 27 5661.21 6025.32
Deferred Tax 27 232.59 (28.22)
IX Profit for the year (VII-VIII) 20421.97 18753.31
Other Comprehensive Income
A (i) Items that will not be reclassified to profit or loss:
– Remeasurements of the defined benefit plans 28(vi) (22.97) (21.81)
– Equity instruments through other comprehensive
income 2515.06 91.90
Effective
– portion of gains / (losses) on designated
portion of hedging instruments in a cash flow hedge (10.46) 21.22
(ii) Income tax relating to items that will not be reclassified
to profit or loss 27 (228.72) (0.34)
B (i) Items that will be reclassified to profit or loss:
– Debt instruments through other comprehensive
income 17.91 (35.01)
– Effective portion of gains / (losses) on designated
portion of hedging instruments in a cash flow hedge 19.71 (47.45)
(ii) Income tax relating to items that will be reclassified to
profit or loss 27 (9.47) 20.75
X Other Comprehensive Income [A (i+ii) + B (i+ii)] 2281.06 29.26
XI Total Comprehensive Income for the year (IX+X) 22703.03 18782.57
XII Earnings per equity share (Face Value `1.00 each): 28(ii)
(1) Basic (in `) 16.39 15.15
(2) Diluted (in `) 16.35 15.11

The accompanying notes 1 to 31 are an integral part of the Standalone Financial Statements.
In terms of our report attached On behalf of the Board
For S R B C & CO LLP S. PURI Chairman & Managing Director
Chartered Accountants
Firm Registration Number: 324982E / E300003
(DIN : 00280529) Director & Chief Financial Officer
Arvind Sethi
Partner S. DUTTA Company Secretary
(Membership No.: 89802)
Kolkata, May 23, 2024 (DIN : 01804345)

R. K. SINGHI

(Membership No.: FCS 3770)

ITC Limited REPORT AND ACCOUNTS 2024 165

 Subject Matter Of
Project...
The project is to analyze the financial data of the
company ITC and give assessment on the
profitability and liquidity of the company, for the
last two years on the basis of tools of analysis to
asses whether the company will be able to meet
its short - term financial obligations.

Objectives
To study whether the company has performed
better than before and to assess whether the
company’s business is on the right path or not.
Accounting Ratios...
Ratio Analysis is technique of financial statements
Analysis. It is more widely used tool to interpret
quantitative relationships between two variable of
the financial statements.

The term accounting ratio is used to describe

significant relationship which exists between
figures shown in a balance sheet, in a statements
of project and loss, in a budgetary control system
or in any part of the accounting organization.

A financial ratio matches two or more pieces of

monetary data and presents them in the form of
a percentage, proportion, or in relation to a period
of time.
 1.Liquidity Ratio
Liquidity Ratio are those ratios which are
computed to evaluate the capacity of the entity
to meet its short term liability.
Current Ratio
Quick Ratio or Liquid Ratio.

Current Ratio :-
It refers to a company’s ability to generate
enough cash to pay off its debts once they
become due. Its used globally as a way to measure
the overall financial health of a company.

Current Ratio = Current Asset

Current Liabilities
For year 2024 = 36070.67 = 2.90 %
12415.61

For year 2023 = 35203.44 = 2.84 %

12415.62
Comment - Both years show strong liquidity, but
the slight increase in 2024 suggests improved
ability to meet short-term obligations.
 Quick Ratio :-
The quick ratio is an indication of a company short
term liquidity position and measure of a company’s
ability to meet its short term obligations with its
most liquid assets.

Quick Ratio = Current Assets - Inventory

Current Liabilities

For year 2024 = 36070.67 - 12631.51 = 1.89 %

12415.61

For year 2023 = 35203.44 - 1059390 = 1.98 %

12415.62

As there are no inventories and no prepaid expenses,

current Assets and liquid assets are equal.
Interpretation - Both years reflect good
liquidity, though the slight decrease in 2024
indicates a slight reduction in liquid assets,
potentially due to inventory increase.
 2.Solvency Ratio
“Solvency Ratio” are those ratio which shows
whether the enterprise will be able to meet its
long term financial obligations, i.e long - term
liabilities.

Important Solvency Ratio are -

Debt to equity ratio.
Proprietary ratio.
Total assets to debt ratio.
Interest coverage ratio.
 Debt to Equity Ratio :-
The debt to equity ratio is used to evaluate a
company financial leverage and is calculated by
dividing a company’s total liabilities by its
shareholders equity.

Debt to Equity Ratio = Debt

Equity

For year 2024 = 15467.88 = 0.21 %

72233.30

For year 2023 = 14667.94 = 0.22 %

67593.80

Interpretation - Stable low leverage across both

years reflects a conservative capital structure,
relying mostly on equity.
 Proprietary Ratio :-
The proprietary ratio is the proportion of
shareholders equity to total assets and as such
provides a rough estimate of the amount of
capitalization currently used to support a business.

Proprietary Ratio = Equity

Total Assets

For year 2024 = 72233.30 = 0.83 %

87327.60

For year 2023 = 67593.80 = 0.82 %

82261.74

Interpretation - Minimal change across both years,

indicating consistent high equity financing, reducing
financial risk.
 Total Asset to Debt Ratio :-
Total asset to debt ratio is a leverage ratio that
defines the total amount of debt relative to assets
owned by a company. It measure the safety margin
available to lender at long - term debts.

Total Assets to Debt Ratio = Total Assets

Debt

For year 2024 = 87327.60 = 5.64 %

15467.88

For year 2023 = 82261.74 = 5.61 %

1466.94

Interpretation - The small decrease in 2024 suggests

slightly reduced asset coverage, though both years
indicate strong solvency.
 Interest Coverage Ratio :-
Interest coverage ratio is used to measure how well a
firm can pay the interest due on outstanding debt.
The interest coverage ratio is calculated by dividing
company’s earning before interest and taxes (EBIT)
by interest expense during a give period.

Interest Coverage Ratio = Profit before int. & Tax

Int. on long term debt

For year 2024 = 26361.50 = 576.42 %

45.73

For year 2023 = 24792.22 = 592.90 %

41.81

Interpretation - Improvement in 2024 shows ITC’s

increased earnings capacity to cover interest
obligations, reflecting strong profitability.
 3.Activity Ratio
An activity ratio is type of financial metric
that indicates how efficiency a company is
leveraging the assets on its balance sheet, to
generate revenue and cash.

Important Activity Ratio are -

Inventory turnover ratio
Trade Receivables Ratio
Trade Payable turnover Ratio
Working capital turnover Ratio
 Inventory Turnover Ratio :-
Inventory turnover ratio is a financial ratio showing
how many times a company has sold and replaced
inventory during a given period.

Inventory Turnover Ratio = Net Sales

Avg. Inventory

For year 2024 = 32387.00 = 2.79 times.

11612.71
For year 2023 = 33167.19 = 3.13 times.
10593.90

Interpretation - The decrease in 2024 suggests

slightly slower inventory movement, which may
impact cash flow if sales slow.
Inventory Receivables Turnover Ratio :-
The effectiveness of a company’s credit and collection
practices is calculated by the trade Receivables turnover
ratio. It is financial up by dividing net credit sales by the
average accounts receivables during a given time frame.

Inventory Receivables = Net Credit RFO or Sales

Turnover Ratio Avg. trade Receivables

For year 2024 = 70105.29 = 24.89 times

2816.39
For year 2023 = 70251.28 = 30.27 times
2321.33

Interpretation - The decline in 2024 indicates slower

collection of receivables, possibly impacting liquidity.
Trade Payable Turnover Ratio :-
Trade Payable Turnover Ratio is also known as
Accounts payable turnover ratio or the creditors
turnover ratio. This ratio is used to measure the
number of times the business is paying off its
creditors or suppliers in an accounting period.
Trade Payable = Net Credit Purchases
turnover ratio Avg. trade Payables

For year 2024 = 6042.97 = 1.42 times

4248.23
For year 2023 = 9109.85 = 2.16 times
4213.76

Interpretation - Both years reflect stable payment

cycles; a slight increase in 2024 may indicate ITC is
optimizing payable terms.
Working Capital Turnover Ratio :-
Working Capital turnover ratio is the ratio between the
net revenue and the working capital of a business. It
indicate how effectively a company use the available funds
for production.

Working Capital = Revenue from operation

turnover ratio Working Capital

For year 2024 = 70105.29 = 2.96 times

23655.06
For year 2023 = 70251.28 = 3.08 times
22787.82

Interpretation - Both years reflect efficient use of

working capital, though the slight decline in 2024 indicates
marginally slower sales relative to working capital.
 4.Profitability Ratio
Profitability Ratio are a class of financial metrics
that are used to assess a business ability to
generate earnings relative to its revenue,
operating costs, balance sheet assets. or
shareholders equity over time, using data from a
specific point in time.

Important Profitability Ratio are -

Gross Profit Ratio
Operating Profit Ratio
Operating Ratio
Net Profit Ratio
Return on Investment.
 Gross Profit Ratio -
The Gross Profit Ratio measures a company profitability by
comparing its gross profit to net sales. It reflects the
portion of net sales that. It reflects the portion of net sales
that constitution gross profit.

Gross Profit Ratio = Gross Profit *100

RFO

For year 2024 = 26323.34 *100 = 37.54 %

70105.29
For year 2023 = 24677.54 *100 = 35.12 %
70251.28

Interpretation - The increase in 2024 suggests stronger

cost management or pricing power, enhancing profitability.
 Operating Profit Ratio -
Operating Profit Ratio measures the relation between
operating profit and revenue from operations i.e, Net
sales

Operating Profit Ratio = Operating Profit *100

RFO

For year 2024 = 47274.50 *100 = 67.42 %

70105.29

For year 2023 = 47969.54 *100 = 68.28 %

70251.28

Interpretation - Higher operating profit in 2024

reflects improved efficiency, indicating better control
over operating costs.
 Operating Ratio -
Operating Ratio shows the efficiency of a company’s
management by comparing that total operating expenses
of a company to net sales.

Operating Ratio = Cost of RFO + Op. Exp *100

Net RFO

For year 2024 = 20421.97 *100 = 29.13 %

70105.29
For year 2023 = 18753.31 *100 = 26.69 %
70251.28

Interpretation - The decline in 2024 indicates reduced

operational expenses relative to revenue, signaling improved
cost management.
 Net Profit Ratio -
The net profit percentage is the ratio of after tax profit
to net sales. It reveals the remaining profit after all cost
of production, administration and financing have been
deducted from sales and income taxes.

Net Profit Ratio = Cost of Net Profit After Tax *100

RFO

For year 2024 = 20421.97 *100 = 23.39 %

87327.60
For year 2023 = 18753.31 *100 = 22.80 %
82261.74

Interpretation - Higher profitability in 2024 reflects

enhanced overall efficiency and better cost control.
 Return On Investment -
Return on investment is a performance measure use to
evaluate the efficiency of profitability of an investment or
compare the efficiency of a number of different
investment.

Return On = Profit Before Int. & Tax & Dividends *100

Investment Ratio Capital Employed

For year 2024 = 37718.29 *100 = 53.81 %

70105.29

For year 2023 = 37084.09 *100 = 52.78 %

70251.28

Interpretation - The slight increase in 2024 shows ITC’s

stronger asset efficiency, delivering better returns on
assets.
Cash - Flow Statement
Cash Flow Statement is a statement that shows
the cash flow i.e, inflow and outflow of cash and
cash equivalents during that accounting period
from operating, investing and financing activities.

Showing cash flow under there heads are :-

Cash Flow from operating activities.
Cash Flow From investing activities.
Cash Flow from financing activities.

Operating Activities :-
Operating activities are the principal revenue
activities of the enterprise and the other
activities that are not investing are financing
activities.
Standalone Statement of Cash Flows
for the year ended 31st March, 2024
For the year ended For the year ended
31st March, 2024 31st March, 2023
( `in Crores) ( `in Crores)
A.Cash Flow from Operating Activities
PROFIT BEFORE TAX 26315.77 24750.41
ADJUSTMENTS FOR:
Depreciation and amortization expense 1647.82 1662.73
Share based payments to employees 103.10 58.50
Finance costs 45.73 41.81
Interest Income (1592.41) (1434.53)
Dividend Income (990.35) (556.90)
(Gain) / Loss on sale of property, plant and equipment,
lease termination - Net (54.07) 4.53
Inventory write-offs / write-downs (net of reversals) 149.62 155.46
Doubtful and bad debts 9.23 (0.93)
Doubtful and bad advances, loans and deposits 25.03 1.16
Impairment of investment in joint venture – 8.50
Gain recognised on divestment of shares held in joint venture (9.49) –
Net gain arising on financial instruments measured at amortised
cost / mandatorily measured at fair value through profit or loss (784.82) (416.74)
Foreign currency translations and transactions - Net (6.28) (1456.89) 37.89 (438.52)
OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES 24858.88 24311.89
ADJUSTMENTS FOR:
Trade receivables, advances and other assets (887.87) (603.25)
Inventories (2187.23) (751.59)
Trade payables, other liabilities and provisions 17.30 (3057.80) 755.24 (599.60)
CASH GENERATED FROM OPERATIONS 21801.08 23712.29
Income tax paid (net of refunds) (5682.85) (5800.59)
NET CASH FROM OPERATING ACTIVITIES 16118.23 17911.70
B.Cash Flow from Investing Activities
Purchase of property, plant and equipment, intangibles,
ROU asset etc. (2647.23) (1858.32)
Sale of property, plant and equipment 100.85 48.86
Purchase of current investments (64931.45) (72925.91)
Sale / redemption of current investments 67992.14 67720.51
Payment towards contingent purchase consideration – (63.75)
Investment in subsidiaries (1050.35) (1184.14)
Investment in associates* (86.26) (1.88)
Investment in joint venture (0.90) –
Purchase of non-current investments* (2745.51) (2349.41)
Sale / redemption of non-current investments 2622.86 4057.60
Redemption of investment in subsidiary – 18.00
Advance received towards divestment of shares held in joint venture
[Refer Note 28 (x)]
– 56.00
Dividend received
990.35 556.90
Interest received
1016.53 1216.27
Investment in bank deposits
(original maturity more than 3 months)
Redemption / maturity of bank deposits (3578.11) (7427.20)
(original maturity more than 3 months)
4446.34 5476.33
Investment in deposit with housing finance company – (3500.00)
Redemption / maturity of deposit with housing finance company – 5000.00
Loans given (12.22) (8.21)
Loans realised 10.51 8.98
NET CASH FROM / (USED IN) INVESTING ACTIVITIES 2127.55 (5159.37)

ITC Limited REPORT AND ACCOUNTS 2024

Standalone Statement of Cash Flows
for the year ended 31st March, 2024
For the year ended For the year ended
31st March, 2024 31st March, 2023
( `in Crores) ( `in Crores)
C.Cash Flow from Financing Activities
Proceeds from issue of share capital 1442.83 2477.39
Repayment of non-current borrowings (1.26) (0.74)
Principal payment of lease liabilities (56.64) (51.97)
Interest paid (46.02) (40.04)
Net increase in statutory restricted accounts balances 12.12 14.94
Dividend paid (19606.06) (15150.44)
Dividend distribution tax refund received – 20.43
NET CASH USED IN FINANCING ACTIVITIES (18255.03) (12730.43)
NET (DECREASE) / INCREASE IN CASH AND CASH EQUIVALENTS (9.25) 21.90
OPENING CASH AND CASH EQUIVALENTS 206.88 184.98
CLOSING CASH AND CASH EQUIVALENTS 197.63 206.88

* Also refer Note 28(ix)

Notes:
1. The above Statement of Cash Flows has been prepared under the “Indirect Method” as set out in Ind AS - 7 “Statement of Cash Flows”

As at As at
2. CASH AND CASH EQUIVALENTS: 31st March, 2024 31st March, 2023
Cash and cash equivalents as above 197.63 206.88
Unrealised gain / (loss) on foreign currency cash and cash equivalents … …
Cash and cash equivalents (Note 11) 197.63 206.88
3. Net Cash Flow from Operating Activities includes an amount of `436.16 Crores (2023 - `328.80 Crores) spent towards Corporate
Social Responsibility.
4. Disclosure of change arising from financing activities in respect of lease liabilities - Refer Note 15

The accompanying notes 1 to 31 are an integral part of the Standalone Financial Statements.
On behalf of the Board
In terms of our report attached For S R B C & CO LLP Chartered Accountants Firm
Registration Number: 324982E / E300003 S. PURI Chairman & Managing Director
Arvind Sethi
Partner (DIN : 00280529) Director & Chief Financial Officer
(Membership No.: 89802)
S. DUTTA Company Secretary

Kolkata, May 23, 2024 (DIN : 01804345)

R. K. SINGHI

(Membership No.: FCS 3770)

ITC Limited REPORT AND ACCOUNTS 2024

 Conclusion
From this project, it is concluded that ratio
analysis can provide insight to companies
relative financial health and future
prospects.
It can yield data about profitability, liquidity
earning extended viabuity, and more.

The results of such comparison can mean

more powerful decision making when it
comes to selecting companies in which to
invest.
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www.slideshare.com
www.pinterest.com
www.moneycontrol.com
www.itclimitied.com
www.capitalmarket.com
NCERT Book (Accounts)
T.S Grewal (Volume - 3)
www.youtube.com
www.wikipedia.org