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What are accounting Principles?

Answers were Sorted based on User's Feedback



What are accounting Principles?..

Answer / s.krishna

accounting principles are three types these are
1.personal account; debit the receiver and credit the giver
2.real account; debit what comes in and credit what goes out
3.nominal account; debit all expencess and losses, and
credit all profits and gains.

Is This Answer Correct ?    2 Yes 0 No

What are accounting Principles?..

Answer / gangarajamk

Aersonal A/c receiver is the debits giver is the credit

Real A/c what comes in is a debits what goes out is a credit

Nominal A/c expeness and loss is a Debits Income and gain
is a Credits

Is This Answer Correct ?    3 Yes 1 No

What are accounting Principles?..

Answer / vikash kr. sharma.

1. from assets poin of view:
if assets increase : debit.
if assets decrease : credit.



2. from expen./losses point of voiew:
if expenses increase : debit.
if expenses decrease : credit.



3. from liability point of view:
if liability increase : debit.
if liability decrease : credit.



4. from income point of view:
if income increase : debit.
if income decrease : credit.

Is This Answer Correct ?    2 Yes 0 No

What are accounting Principles?..

Answer / mamta sharma

Accounting principles provides base for all accounting
functions.It tells us the meaning of debit and credit in
accounting language.Mainly three types of accounts are
studied in accounts-real accounts,personal accounts and
nominal accounts.in real accounts debit is what comes and
credit is what goes out.in personal accounts debit is
receiver and credit is giver and in nominal accounts we
debit all expenses and losses and credit the all incomes.

Is This Answer Correct ?    2 Yes 0 No

What are accounting Principles?..

Answer / muthukumar c

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 ?    2 Yes 0 No

What are accounting Principles?..

Answer / aniket

Accounting Principles are -
Money Measurement Concept
Going Concern Concept
Cost Concept
Consevative Concept
Matching Principal
Accrual Concept
Accounting Period Concept
Consistency Principle
these are accounting Principles

Real, Nominal & Personal Are Just the Golden Rules they are
not Principles

Does any one know Dimond Rule Of Accounting

Is This Answer Correct ?    15 Yes 14 No

What are accounting Principles?..

Answer / prasad.k

personal A/c : If one person borrow some mony other
(bank,person,etc)who receives called debtor giver is the
creditor.

real A/c: what comes in & what goes out (dr&cr)

nominal A/c:all expenses and losses debited all gains and
incomes credited

Is This Answer Correct ?    1 Yes 0 No

What are accounting Principles?..

Answer / raju gupta

Accounting Principals:

Personal Account:Debit the receiver
Credit the giver
(accounts recording transactions with person)

Real Account : Debit what comes in
Credit what goes out
(It is relating to tangible things like

goods, cash,Buildings,Bills Receivable)
Nominal Account : Debit expenses and losess
Credit incomes and gains
(It is relate to the losses, gains,
expenses and incomes like rent salaries
Bad debts.....)

Is This Answer Correct ?    2 Yes 1 No

What are accounting Principles?..

Answer / nimmi sharma

accounting principals are 14
three fundamental a/cing principal are
G- coing concern a/cing pricipal
C- consistancy a/cing principal

Is This Answer Correct ?    3 Yes 2 No

What are accounting Principles?..

Answer / aaruni

principle means origin or source a/cting principle means a
general law or rule adopted as a guide to action

Is This Answer Correct ?    2 Yes 1 No

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