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The case study discusses certain events and transactions that took place at Maniratna Private Limited (Maniratna), a jewelry leasing start-up. The founder of Maniratna, Kanika, was confused about how the various events were to be treated in the Books of Accounts. All companies are required to follow the Accounting Principles in capturing (function of Bookkeeping) events and transactions. These Accounting Principles, also known as concepts, conventions, and assumptions, ensure standardization in bookkeeping. The adherence to the Accounting Principles and Accounting Standards in reporting ensures a true and fair presentation of Financial Statements to stakeholders. This case is to be discussed as an opening case in any accounting course and it will help learners understand various Accounting Principles.