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What is properties or real accounts?
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Answer / meenakshirani
These accounts are accounts of assets and properties, such
as building and Plant, machinary, cash, inventory etc.
Example: purchase a machinary with cash= 50000/-
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / prateek goyal
these account is tangible and tangible assets & cash
ex- bulding machine cash
purchase bulding with cash= 100000/-
| Is This Answer Correct ? | 4 Yes | 0 No |
The rules of real accounts are:
Debit :What comes in
Credit:What goes out.
Example entry:
purchased furniture for cash
Entry is :
Furniture a/c..Dr
To cash a/c
Being the furniture purchased for cash)
In this case furniture comes in and cash goes out.
| Is This Answer Correct ? | 2 Yes | 1 No |
what is share spilitting
IN ONE OF THE MAUNUFACTURING COMPANY, THE MANAGMENT WAS VERY MUCH INTERESTED TO INTRODUCE ERP(IT IS FOREIGN SOFTWARE)BASED ON SOME ATTRACTIVE FEATURES EXPLAINED BY THE ERP SOFT WARE COMPANY/AGENCY . THE ACCOUNTING STAFF ARE ALL CONVERCENT WITH TALLY ACCOUNTING PACKAGE(INDIAN ACCOUNTING METHOD). THEREFORE THEY WOULD LIKE TO KNOW THAT (I) WHAT ARE THE DIFFERENCE BETWEEN A TRIAL BALANCE FROM NORMAL TALLY ACCOUNTING AND ERP GENREATED TRIAL BALANCE (2) SINCE THE BOTH THE TRIAL BALANCE WILL BE HAVING DIFFEERENT DATAS HOW SOME ONE CAN MAKE A FINAL ACCOUNT SUCH AS TRADING A/C PROFIT & LOSS ACCOUNT AND BALANCE SHEET AS PER INDIAN COMPANIES ACT. THE TRIAL BALANCE AS PER ERP SHOW SOME COST OF PRODCUTION A/C, LABOUR/MATERIAL/VALUE VARIANCE A/C. SAY ALL THESE VARIANCE ARE CORRECT AND BASED ON THE ACTUAL TRANSACTION TAKEN PLACE, HOW SOMEONE CAN A FINAL ACCOUNT MEANT FOR INDIAN ACCOUNTING POLICY WHICH TO BE SUBMITTED TO VARIOUS GOVT BODIES? I AM TOTALLY CONFUSED
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Audit 
