The book ‘Fundamentals of Accounting’ is written to provide a road to students’ mastery of accounting principles and fundamentals. Having passed through all the processes of accounting and seen the difficulties encountered by accounting students across the globe, I was inspired to write a book which is aimed at addressing the key problems encountered by the students of accounting and other users of accounting books. As an accounting lecturer (spanning over many decades), I discovered that students have phobia for accounting because of the abstract nature in which accounting information and financial statements are being prepared and presented to them. I also observed that many Chief Executive Officers and Entrepreneurs find it difficult to read their financial statements because of its abstract nature. This propelled me to write a book that is simplified with illustrations, notes/explanations and tutorial questions with solutions for ease of understanding of the students and other users.