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What is American approach? Why do we use it inspite of Modern
approach or Enlish approach ?
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Answer / shahid raza
To avoid the drawbacks of golden rule plz use this concept:-
According to American approach there are five types of
accounts:1.Assets A/c,2.Expenditure A/c,3.Capital
A/c,4.Laibilities A/c,5.Revenue A/c.
For Assets A/c & Expenditure A/c:
Whenever it increases - Debit
Whenever it decreases - Credit
For Capital A/c,Laibilities A/c and Revenue A/c:
Whenever it increase - Credit
Whenever it Decreases- Debit
I ensure all the viewers that you will like this concept.
Regarding this concept & all basic concepts of accaunting
you can ask me on :
shahid.raza37@gmail.com
mdshahid.raza@rediffmail.com
| Is This Answer Correct ? | 4 Yes | 0 No |
A non-function currency claim:- Employee while updating a non functional currency claim the system uses the period end rate i.e. any claim pertaining to the period 01Aug - 25th Aug. the system uses the period end rate as of July 31st. (2) Also, what is the basis of using the period end rate not the average rate for expenses claim. Can you please clarify my question.
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