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PRC-01 Fundamentals Of Accounting Study Text - ICAP (2025-26)

  • Publisher: ICAP BOOKS
  • Availability: Out Of Stock
  • SKU: 60837
  • Number of Pages: 445
  • Publication Date: 2025-07-31

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PRC – 1 Fundamentals of Accounting Study Text
Publisher: ICAP

🔹 Introduction

The PRC – 1 Fundamentals of Accounting Study Text by ICAP is designed for students preparing for accounting foundations. It provides clear explanations of principles, practical examples, and guidance aligned with ICAP’s curriculum.


🔑 Key Points

  • Covers all basic principles of accounting in a structured way.

  • Provides detailed guidance on Books of Prime Entry and Ledgers.

  • Explains Trial Balance, Accruals, and Prepayments comprehensively.

  • Includes treatment of Bad and Doubtful Debts.

  • Clear explanation of Property, Plant, and Equipment (PPE).

  • Focused coverage on IAS 2: Inventories.

  • Guides on Correction of Errors in accounts.

  • Practical understanding of Bank Reconciliations.

  • Step-by-step Preparation of Financial Statements.

  • Fully aligned with ICAP PRC-1 syllabus for exam success.


📑 Table of Contents

  1. Accounting Basics

  2. Books of Prime Entry

  3. Ledgers and Trial Balance

  4. Accruals and Prepayments

  5. Bad and Doubtful Debts

  6. Property, Plant and Equipment

  7. IAS 2: Inventories

  8. Correction of Errors

  9. Bank Reconciliations

  10. Preparation of Financial Statements


🔹 Conclusion

This study text is a complete resource for ICAP students aiming to build a strong foundation in accounting. With practical examples, exam-focused guidance, and detailed coverage of ICAP’s syllabus, it ensures thorough preparation for success.

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