PLUS TWO ACCOUNTANCY:PREFACE We are pleased to present before the students and teachers this thoroughly revised edition of Accountancy II (1) (Not-for-Profit Organisation and Partnership Accounts) which has been primarily designed as a Reference Book based on the new NCERT Syllabus and Text Book. This book has been prepared with special care emphasizing the particular needs of the students preparing for Higher Secondary, State Open School, CBSE, VHSE, JDC, HDC, and other such examinations. Long years of classroom experience, interviews with students, and discussions with teachers have made us more aware of the difficulties faced by the students in assimilating the contents of textbooks of Accounting. Accordingly, we have improved certain sections of this book, based on the suggestions received from both teachers and students. This book, we are sure, will provide all the help needed by the students so that they can read and practice it independently. The theory part of the subject is simplified and organized in such a manner that the book is self-explanatory and stimulating. A good number of illustrative problems and exercises with necessary hints and answers have been added to this edition. Sample questions given at the end of each chapter are in accordance with the New Grading Pattern. We wish to express our gratitude to Dr. V. M. Xaviour, Head of the Post Graduate Department of Commerce and Management Studies (Retd.), St. Thomas College, Thrissur for his guidance and help in preparing this book. We are indebted to Prof. P. Ramadasan, Head of the Department of Commerce (Retd.). Sreekrishna College, Guruvayur, Prof. K. I. Thomas, Head of the Department of Commerce (Retd.), St. Joseph's College, Irinjalakuda, Cinimol T.G., HSST, Commerce, Darul Uloom HSS, Pullepady. Ernakulam and Sri. Vinod K., HSST, Commerce, Vivekodayam Boys HSS, Thrissur, for all their co-operation and encouragement.