Answer / sirisha

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

Answer / swathi

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

Answer / santosh

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.

Answer / shruti

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

Answer / ruchi singh

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

Answer / potenaik

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

Answer / mandar

Accounting Principles are classified into two categories
A) Accounting concepts
B) Accounting Conventions

A) Accounting concepts
1)Business entity concept - business is separet entity from
owner
2)Dual Aspect concept - Liabilities = Assets (dr = cr)
3)Going concern concept - business is going to be in
existence for an indefinitely long time.
4)Accounting period concept - Indefinite long period is
divided into short span for accounting purpose.
5)Cost concept - cost of aquisition of assets is considered
for accounting (considering depriciation) and not current
price of assets.
6)Money measurement concept - only facts which can be
measured in money find place in accounting.
7)Matching concept - expences and costs incurred during
period whether paid or not must match the revenue for that
particular period.

B)Accounting Conventions
1) Convention of conservation
2)Convention of Materiality
3)Convention of Consistency

Answer / gopi kanth

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.

Answer / aman

there are three types of accounting principles available:-
1.Personnel Account:- Deals with person individual often
company extra.
* Debit the receiver
* Credit the giver
2.Real Account:- Real accounts are those which are tangeble
in nature an which the business owns.
* Debit what comes in
* Credit what goes out
3.Nomial Account:- These are accounts other than personel
and real includes expences, losses, incomes and gains.
* Debit all expences and losses
* Credit all incomes and gains

Answer / hemant mittal

Accounting Principles are classified into two categories
A) Accounting concepts
B) Accounting Conventions

A) Accounting concepts
1)Business entity concept - business is separet entity from
owner
2)Dual Aspect concept - Liabilities = Assets (dr = cr)
3)Going concern concept - business is going to be in
existence for an indefinitely long time.
4)Accounting period concept - Indefinite long period is
divided into short span for accounting purpose.
5)Cost concept - cost of aquisition of assets is considered
for accounting (considering depriciation) and not current
price of assets.
6)Money measurement concept - only facts which can be
measured in money find place in accounting.
7)Matching concept - expences and costs incurred during
period whether paid or not must match the revenue for that
particular period.

B)Accounting Conventions
1) Convention of conservation
2)Convention of Materiality
3)Convention of Consistency

Do you use cab services? What can you comment on Uber and Ola taking the share of local autowalas?

0 Answers   RBI,

These days Mutual Funds are common in the market. What do you know about them?

0 Answers   IBPS,

Tell me the levels of traders?

0 Answers   Futures First,

What is meant by 'underwriting'?

0 Answers  

What are the basic documents a person requires to open an account

0 Answers   Nabard,

How will you define the term management?

0 Answers   IBPS,

Why should I invest in Mutual fund which is not secured rather than investing in Any Nationalized bank which is giving me guaranteed interest rate of 9.5% per annum which is also more secured?

0 Answers  

defferd revenue exp

6 Answers   Capital IQ, Capital One,

hai viewers! i am deepa,pursuing my MBA finance. I want to become a portfolio manager. what is the way in which i can achieve my dreams.My college is not so highfi,so big companies dont come to recruit us in such high positions.but i want to be there.How do i?can u plz suggest.

3 Answers   Kotak,

What do you call the minimum rate decided by rbi which shall be adopted by all public sector banks?

0 Answers  

Name the basic documents that a person requires to open an account?

0 Answers   IBPS, State Bank Of India SBI,

Tell us something about adb? Who are its members?

0 Answers