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What are accounting Principles?

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What are accounting Principles?..

Answer / ashwini_v629@yahoo.in

Accounting principals those rules of action or conduct that
are folllowed by the accountants universally while
recording accounting transactions.They are boby of
doctrines commonly associated with theory and procedures of
accounting. These principals can be classified int two
categories:
Accounting concepts and
Accounting conventions.

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What are accounting Principles?..

Answer / zahirhussain

the accounting as folow to the books metirals only. it's
used to managent of company accounts.

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What are accounting Principles?..

Answer / manas basu

total Debit Amount = Total Credit Amount
i.e Trial Balance .
Heading : Trial Balance as on ....
Every Debit entry must be corresponding Credit Entry.

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What are accounting Principles?..

Answer / askaruv

these are also known as golden accounting principles

expence increase debit
exp decrease credit
incom increase debit
inc decrease credit
asset increase debit
ass decrease credit
liability increase credit
lia decrease debit

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What are accounting Principles?..

Answer / i.srinivasreddy

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

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What are accounting Principles?..

Answer / daa&

Maintaining the Basic Accounting Books, ex. Daybook, bank
book, purchase sales account and vouchers. regular invertory
process

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What are accounting Principles?..

Answer / prashant rai

Accounting principles have two aspects.
1. Accounting concepts
2. Accounting conventions
Accounting principle is a science of accounting.
Science of accounting means systematic presentation of
accounts.

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What are accounting Principles?..

Answer / raja

Accounting Principles can be classified in two categories
(1)Accounting concepts
(2)Accounting conventions

Three types of accounts namely ,

Personal accounts:
Debit the receiver
credit the giver
{Ex:Natural person's Personal account,Artificial Person's Personal Account,Representative Persons' Personal Account}

Real Account (property account):
Debit: what comes in
Credit what goes out
{Ex:Tangible Real Accounts,Intangible Real Accounts}

Nominal Account:
Debit:All expenses and loses
Credit all incomes and gains

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What are accounting Principles?..

Answer / vijay shewale

Real A/C:- Debit what Comes In And Credit What Goes Out
Personal A/C:-Debit The Receiver And Credit The Giver
Nominal A/C:-Debit All Expenses And Losses and Credit All
Profit And Gains

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What are accounting Principles?..

Answer / rev. dr. b. russel raj

Personal Account : Debit the receiver
Credit the giver

Real Account : Debit what comes in
Credit what goes out

Nominal Account : Debit all expenses and
losses
Credit all incomes and gains

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