Answer / a. koteeswari

Accounting principles is Three types
1. Personal Account

Ex: Debit the reciver
Cridit the giver

2. Real Account

Ex: Debit what comes in
Credit what goes out

3. Nominal Account

Ex: Debit All Expenses and Losses
Credit All gains and incomes.

Answer / deepak

Accounting principles are described by various terms such as concepts, conventions, assumptions, doctrines etc.

These principles are basically divided into three categories
1. Basic concept or Assumptions
2. Basic Principles
3. Modifying Principles

Answer / vikash kr. sharma.

Going concern concept.
Cost concept.
Matching concept.
Accounting period concept.
Concept of Cosistency.
Dual Aspect concept.
Money Measurement concept.

Answer / vijay negi

some accounting principal are:-
1) historical cost principal
2) revenue recognition principal
3) full disclosure principal
4) maching principal

Answer / vikas kakkar

Principle of regularity: Regularity can be defined as
conformity to enforced rules and laws.
Principle of consistency: This principle states that when a
business has once fixed a method for the accounting
treatment of an item, it will enter all similar items that
follow in exactly the same way.
Principle of sincerity: According to this principle, the
accounting unit should reflect in good faith the reality of
the company's financial status.
Principle of the permanence of methods: This principle aims
at allowing the coherence and comparison of the financial
information published by the company.
Principle of non-compensation: One should show the full
details of the financial information and not seek to
compensate a debt with an asset, a revenue with an expense,
etc. (see convention of conservatism)
Principle of prudence: This principle aims at showing the
reality "as is" : one should not try to make things look
prettier than they are. Typically, a revenue should be
recorded only when it is certain and a provision should be
entered for an expense which is probable.
Principle of continuity: When stating financial
information, one should assume that the business will not
be interrupted. This principle mitigates the principle of
prudence: assets do not have to be accounted at their
disposable value, but it is accepted that they are at their
historical value (see depreciation and going concern).
Principle of periodicity: Each accounting entry should be
allocated to a given period, and split accordingly if it
covers several periods. If a client pre-pays a subscription
(or lease, etc.), the given revenue should be split to the
entire time-span and not counted for entirely on the date
of the transaction.
Principle of Full Disclosure/Materiality: All information
and values pertaining to the financial position of a
business must be disclosed in the records.

Answer / thirupathi venaganti

Accouting principles are divied in to two type

1.cocept
2.convention

concept are classified into 10 type
1.buisness entity concept
2.dual aspect concept
3.going concern concept
4.matching concept
5.historical concept
6.money measurement concept
7.accrual concept
8.accouting period concept
9.rupee value concept
10.realisation concept

2.CONVENTIONS
1.convetion of full disclosure
2.convetion of materiality
3.convetion of cosistency
4.convetion of conservatism

Answer / prasanthi m

Some times Accounting is called as the language of
business, as normally a business house communicates with
the outside world thorough this. In order to make this
language easy and commonly understood by all, it is
necessary that it should be based on certain uniform
scientifically laid down standards. These standards are
termed as "Accounting Principles".

The Accounting Principles are classified into two
categories,
(1) Accounting Concepts and
(2) Accounting Conventions.

(1) Accounting Concepts:
(i) Business Entity Concept
(ii) Money Measurement Concept
(iii) Cost Concept
(iv) Going Concern Concept
(v) Dual Aspect Concept
(vi) Realisation Concept
(vii) Accrual Concept
(viii) Accounting Period Concept and
(ix) Revenue Match Concept

(2) Accounting Conventions:
(i) Consistency
(ii) Disclosure
(iii) Conservatism and
(iv) Materiality

Answer / t.koti reddy

Accounting Principals:

Personal Account:Debit the receiver
Credit the giver
(accounts recording transactions with
person)

Real Account : Debit what comes in
Credit what goes out
(It is relating to tangible things like

goods, cash,Buildings,Bills Receivable)
Nominal Account : Debit expenses and losess
Credit incomes and gains
(It is relate to the losses, gains,
expenses and incomes like rent salaries
Bad debts.....)

Answer / muhammad qaisar ishfaq

Personel account;The element or account which represent the
person orginzation.
Real account;The account which represent the assets.
Nominal account;The account which represent
expenses,losses,gain.

Answer / m.veeranjaneyulu

Accounting Principles:

Personal Account: Debit the receiver
Credit the giver

(This account treted as only persons)
Real Accounts: Debit what comes in
Credit what goes out
(This account treated as only assets)
Nominal Accounts:All expences & losses are debit
All incomes & gains are credit

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