Accounting is a vital and indispensable discipline for the universe. This is the easiest subject, but was made the clumsiest by the well learned. The purpose of any book is easy and lucid delivery; and the ultimate aim is efficient and perfect application by the reader. The author - as a student and a teacher; and also a professional - faced many types of queries, doubts and challenges. People know the subject, but they do not know that they know it. Right from the uneducated to the most qualified, everybody did accounting in his real life. He is not aware that he is doing accounting only. Especially the student community undergoes lot of confusion with regard to classification. Many learned people contributed their best for the subject, but their excellence made the subject tough for an average person. As such with my experience over 40 years in teaching Accounting, I thought it better to bring out this small book for big result. I am sure the purpose will be achieved. If anybody just reads and does accounting without anybody's assistance, it will be my success.