Any business entrepreneur that is not getting the required output from his/her accounting system, then a good accounting and financial system will be a perfect solution of all business problems. Accounting refers to the process of bookkeeping that are involved in making the financial system will be a perfect solution of all business problems. Accounting refers to the process of bookkeeping that are involved in making the financial records of business transactions. Day to day bookkeeping on the accounting principles helps in keeping record of daily transactions and also helps in preventing any frauds. There are many solutions out there to tackle accounting problems of any magnitude, but as far as efficiency and cost effectiveness is concerned, every business organization should outsource all their accounting work. Accounting outsourcing is the perfect recipe for any organization as it can solve all accounting hassle at ease and can provide any kind of business with the most efficient accounting system. With a accounting and financial system, a business organization can cut down its expenditure and save time in order to keep pace with the ever-increasing burden of accounting work. In the present book an effort has been made to describe all the basic concepts and principles of accounting and financial management. All these have been explained after a detailed study of the subject matter. This book is very useful for B.Com., BBA, BCA, MBA, MCA, CA, CS, ICWAI and other professional examinations.