basic knowledge of accounting ?
Question Submitted By :: Taxation
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Accounting is an
Art of recording
Art of Classifying
Art of Summarising
the Monetary Transaction & finally interpreting the results Dinesh Aicwa
Account is an type of Maths. In School we calculate Number
but here we kept record of company deiatls like purchase,
sales, journaletc. Harshad
Accounts is nothing it is finally + and - what ever you
receive whatever you spend and applicable taxation.
Alway you have to rember accounting rule while you r
Personal account Debit reciever credit Giver
Real account Debit what comes in credit what goes out
Nominal account Debit Expenses and income credit income and
gain. Bhavani Bv
Accounting is art of Classifying, summarizing, recording of montary transaction according to the GAAP.
Accounting is an method of identifying,arranging and passing required financial information to decision making in business.
Latha Devi Vazir
ACCOUNTING IS ART OF CLASSIFYING SUMMARIZING RECORDING OF MONTARY TRANSACTION ACCORDING TO THE GAAP Mahaveer Palor
Accounting in simple term is the art(in hindi means kala)of identifying(identify whether the said thing is a transaction or an event,whether monetay or not),Recording(Journal),Classifying(same nature of item at a place in ledger),summaarizing(through B/s,P&l A/c),interpreating,and finally analysing the impact,so that the user of it may get the required information easily which may be a milestone for taking the decision for them. Santosh Dhakal
Accouning is an art of recording,clasifing,summerizing and analysing the monetary transactions from the accounting principles