It gives us great pleasure to present the thoroughly revised edition of this textbook, prepared meticulously in accordance with the latest CBSE syllabus and examination pattern for the 2026 examinations. This edition offers a structured and student-friendly approach, with the inclusion of various question types—such as True/False, Fill in the Blanks, Matching, Multiple Choice Questions, Short-Answer Type, and Practical Questions—at the end of each chapter, enabling students to assess their understanding effectively. A significant number of one-mark questions and incomplete information (missing figure) problems have been provided to help students develop critical thinking and exam readiness. Each chapter is also supported by a wide range of illustrations, solved in a clear, step-by-step manner for easy comprehension.

The practical questions included are based on the latest CBSE papers and follow a structured pattern, being directly linked to the illustrations for seamless learning. To support independent problem-solving, each question comes with helpful answers and hints. Great care has been taken to maintain accuracy and to align content with the CBSE-assigned weightage for each topic. For better accessibility and student convenience, Part A of the book has been split into two volumes: Volume I covers Partnership Firms, while Volume II focuses on Accounting for Companies. We are deeply grateful to our readers whose valuable feedback continues to help us refine and improve the quality of this book. We also extend our sincere appreciation to M/s Avichal Publishing Company for their continued support and encouragement in bringing out this updated edition.