Financial Accounting: A Managerial Perspective by R Narayanaswamy covers well the basics of accounting starting from the basic accounting equation. One attractive thing about this book is that it has lots of problems in every chapter :) If you have time and ready to do, you are with the right book. The book also have a good amount of business cases, though with no analysis.
One thing I liked the most was the tool that is provide in the student's resources (http://phindia.com/narayanaswamy/student_resources1.php) .
The book covers all the basics theoretically from basic accounting equation to cash flow statement analysis. A good read for getting acquainted with the subject!
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