Summary: The text "Advanced Accounts" by M.C. Shukla and T.S. Grewal covers a wide range of topics related to financial and accounting management. It includes discussions on Insolvency Accounts, Insurance Claims, Hire Purchase, Instalments, Royalties, Contract Accounts, Cost Accounts, Management Accounting, and Mechanised Accounting. The book emphasizes the importance of legal compliance in recording transactions, the distinction between assets and expenses, and the capital versus revenue differentiation. It delves into the Single Entry System versus Double Entry System, emphasizing the latter's recognition of transactions as double-sided. The text also provides detailed examples, exercises, and journal entries to apply the theoretical concepts. The topics of Goodwill Valuation, Share Reconstruction, and Company Final Accounts are explored in detail. The book also delves into branch accounts, general reserve provisions, and balance sheets. Overall, "Advanced Accounts" serves as a comprehensive resource for advanced accounting study and application.