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Question
What are accounting Principles?
 Question Submitted By :: Nandu
I also faced this Question!!     Rank Answer Posted By  
 
  Re: What are accounting Principles?
Answer
# 1
Maintaining the Basic Accounting Books, ex. Daybook, bank
book, purchase sales account and vouchers. regular invertory
process
 
Is This Answer Correct ?    733 Yes 921 No
Karthik
 
  Re: What are accounting Principles?
Answer
# 2
there are 3 types of accounting principals
1. personnel accoumt:- debit the receiver and credit the
giver,
2. real account:- debit what comes in and credit what goes
out.
3. nominal account:- debit all expenses and losses and
credit all gains and incomes
 
Is This Answer Correct ?    2398 Yes 343 No
Sirisha
 
 
 
  Re: What are accounting Principles?
Answer
# 3
accounting is treated by some expert as science.science is
based on certain laws n principles. so accounting
principles are some rules or norms of accounting, on which
whole accounting is based.
ex. of accounting principles are business entity concept,
money measurement concept, cost concept, double entry
concept etc
 
Is This Answer Correct ?    625 Yes 236 No
Shruti
 
  Re: What are accounting Principles?
Answer
# 4
Accounting Principal are those set of standard that is use
by the accountant worldwide while recording accounting
transaction.
Principals divide into two parts.
1- Accounting Concept
2-acounting convension
 
Is This Answer Correct ?    566 Yes 206 No
Ruchi Singh
 
  Re: What are accounting Principles?
Answer
# 5
Accounting Principles are:

Nominal Accounting: Debit all Expenses and Losses and
Credit all Gains and Incomes

Personal Accounting:Debit the Receiver and Credit the
Giver,

Real Accounting:Debit what Comes In and Credit what Goes
Out.
 
Is This Answer Correct ?    728 Yes 225 No
Santosh
 
  Re: What are accounting Principles?
Answer
# 6
Accounting Principles are:

Personal Account: Debit the Receiver and
Credit the Giver.

Real Account: Debit what Comes In and
Credit what Goes Out.

Nominal Account: Debit all Expenses and Losses and
Credit all Gains and Incomes
 
Is This Answer Correct ?    763 Yes 190 No
Swathi
 
  Re: What are accounting Principles?
Answer
# 7
Accounting principles are:

1. Going concern
2. Dual aspect
3. Accrual basis and
4. Consistency
 
Is This Answer Correct ?    402 Yes 380 No
Vishnu
 
  Re: What are accounting Principles?
Answer
# 8
accounting principles
personal accounting:this account belongs all persons,banks

Debit:debit the receiver
credit:credit the giver
real account:this account belongs to all assets

debit:debit what comes in
credit: cridit what goes out
nominal account:this account belongs to all incomes and
expendature

debit: debit all expenses and lossess
credit : credit all incomes and gains
 
Is This Answer Correct ?    490 Yes 169 No
Potenaik
 
  Re: What are accounting Principles?
Answer
# 9
Personal,Real,Nominal are not principles of accounts.
They are types of accounts are called golden rules.

As per Accounting standard 1 following are principles of
accounts basically on which financial statements are
prepared.
1.Going concern.
2.Accuracy.
3.Consistancy.
 
Is This Answer Correct ?    365 Yes 147 No
Gopi Kanth
 
  Re: What are accounting Principles?
Answer
# 10
maintaining the accounts
eg:daybook,bankbook,salesandpurchase account,etc there
are types of accounts 1.personial:debit recieves credit
gives
2.real:debit comes out credit goves
out
3.nominal:debit expenditure,loss credit
profit
 
Is This Answer Correct ?    177 Yes 239 No
Ahamed
 

 
 
 
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