Answer / kkt

THREE BASIC PRICIPALS OF A/C ARE
1 DR THE RECEIVER CR THE GIVER
2 DR WHT COMES IN CR WHT GOES OUT
3 DR ALL EXPENSES & LOSSES CR ALL INCOME & GAINS .

Answer / srikara

There are three basic rules in accountancy, they are

1. personal a/c
Debit the receiver and credit the giver
2. real a/c
Debit what comes in credit what goes out
3. Nominal a/c
Debit all expences and credit all incomes

Reconcilation is a method of reconciling are rectifying
the entries made in the pass book with the help of
transactions recorded in the bank a/c maintained by us

Answer / poonam patel

Ther is three basic rules in accounting Transaction
1)Personal A/C
2)Real A/C
3)Nominal A/C

1)Personal A/C:- This A/C represents a personal firm’s
company society clubs or any others institution with whom
the business deals are called as personal A/C.

Rule: - “Debit the receiver”
“Credit the giver”

2)Real A/C:- This A/c which represent such as
building, furniture, machinery, Cash A/c are called
real A/c.

Rule: - “Debit what comes in,
“Credit what goes our”
.
3)Nominal A/c:- This A/c are representing all types of
expenses and losses and incomes and such as salaries,
wages, rent, discount as called as nominal A/c.

Rule: - “Debit all the expenses and losses,
“Credit all the incomes and gains.”

Answer / dhanesh deshpande

@ There are three basic rules in Accounting.
# Personal Account
--- Dr the receiver and Cr. the Giver
# Impersonal Account
* Real A/c.
--- Dr. What comes in and Credit what goes out
* Nominal A/c.
--- Dr. All Expness & losses and Cr. all Income and
gaines

@what is portfolio management-
The art and science of making decisions about investment
mix and policy, matching investments to objectives, asset
allocation for individuals and institutions, and balancing
risk against performance.

1. To earn a positive return (=yield) on their capital.

2. To insure his investments against risks (=to hedge).
3. To receive information identical to the that of ALL
other investors - complete, accurate and timely and to form
independent judgement based on this information.

4.To alternate between investments - or be compensated for
diminished liquidity.
5. To study how to carefully and rationally manage his
portfolio of investments.

6.To compete on equal terms for the allocation of resources.
7. To assume that the market is efficient and fair.

Answer / anshuk doliya

Going Concern Principle - This accounting principle assumes
that a company will continue to exist long enough to carry
out its objectives and commitments and will not liquidate
in the foreseeable future. If the company's financial
situation is such that the accountant believes the company
will not be able to continue on, the accountant is required
to disclose this assessment.
The going concern principle allows the company to defer
some of its prepaid expenses until future accounting
periods.
Full Disclosure Principle
Consistency
Whether managing a household budget with the use of a
personal checking account or working in the accounting
department of a business, chances are that you will engage
in account reconciliation on a regular basis. Essentially,
account reconciliation has to do with making sure that the
amount of liquid assets you show in the checkbook are
identical to the account balance shown on your bank
statement as of the same date. Here are some tips on how to
engage in account reconciliation that is simple, easy and
accurate

Answer / balu

personal
real
nominal
reconcilation means rectifying the bk entry and pass bk
entry

porfolio means
rather than investing in one avenue investing in different
avenues called porfolio

Answer / ss

basic accounting principles are also known golden rules for
accounting:


1. personal a/c
Debit the receiver and credit the giver
2. real a/c
Debit what comes in credit what goes out
3. Nominal a/c
Debit all expences and credit all incomes

Account reconciliation: If it is about pass book and cash
book, account reconciliation is used get accurate cash
balance in bank and bank balance in the cash book.

Portfolio Management : Managing the investment in
different funds so as to get maximum benefit with minimum
capital

Answer / rajesh chandrasekaran

The phrase "generally accepted accounting principles" (or
"GAAP") consists of three important sets of rules: (1) the
basic accounting principles and guidelines, (2) the detailed
rules and standards issued by FASB and its predecessor the
Accounting Principles Board (APB), and (3) the generally
accepted industry practices.

If a company distributes its financial statements to the
public, it is required to follow generally accepted
accounting principles in the preparation of those
statements. Further, if a company's stock is publicly
traded, federal law requires the company's financial
statements be audited by independent public accountants.
Both the company's management and the independent
accountants must certify that the financial statements and
the related notes to the financial statements have been
prepared in accordance with GAAP.

GAAP is exceedingly useful because it attempts to
standardize and regulate accounting definitions,
assumptions, and methods. Because of generally accepted
accounting principles we are able to assume that there is
consistency from year to year in the methods used to prepare
a company's financial statements. And although variations
may exist, we can make reasonably confident conclusions when
comparing one company to another, or comparing one company's
financial statistics to the statistics for its industry.
Over the years the generally accepted accounting principles
have become more complex because financial transactions have
become more complex.

Answer / chaitanya

ACCOUNTING PRINCIPLES:

1.REAL(OR)ASSET A/C'S, 2.PERSONAL A/C'S 3.NOMINAL(OR)
FICTICIOUS A/C'S.

RECONCILIATION A/C: TO RECOUNCILING THE PASS BOOK AS WELL

AS CASH BOOK IS CALLED RECOUNCILIATION A/C.

PORTFOLIO MANAGEMENT:In the case of mutual and exchange-
traded funds (ETFs), there are two forms of portfolio
management: passive and active. Passive management simply
tracks a market index, commonly referred to as indexing or
index investing. Active management involves a single
manager, co-managers, or a team of managers who attempt to
beat the market return by actively managing a fund's
portfolio through investment decisions based on research
and decisions on individual holdings. Closed-end funds are
generally actively managed.

Answer / vinoth kumar

Basic Concepts or Golden rules of A/C's:

Personal A/c, Real A/c & Nominal A/C

Reconcilliation:

Its an Transaction between Bank And the Concerned Partty or
Company dealling with bank

Porfolio mgt. or Investment Mgt.:

Porfolio means Making investment in Jewels, Gold etc., or
making investment for getting additional income, managing
this is known as Portfolio Mgt.

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