Answer / vinotha.v

FUNDAMENRALS OF ACCOUNTING :

1.PERSONAL A/C,
2. NOMINAL A/C,
3. REAL A/C.

PERSONAL A/C :

DEBIT THE RECEIVER
CREDIT THE GIVER.

NOMINAL A/C:

DEBIT ALL EXPENDITURE
CREDIT ALL INCOMES.

REAL A/C:

WHAT COMES IN
WHAT GOES OUT.

SO VERY IMPORTANT POINT DEBIT AND CREDIT.

Answer / hemanth.n.s

Accounting system is based on the golden rule of debit and
credit in respect of various accounts such as personal
account, real account and nominal account.

Answer / vipin kumar rustagi

FUNDAMENRALS OF ACCOUNTING : VERY IMPORTANT IS DEBIT &
CREDIT.
THERE IS THREE TYPES

1.PERSONAL A/C, 2. NOMINAL A/C, 3. REAL A/C.

IN PERSONAL A/C :(DEBIT THE RECEIVER
CREDIT THE GIVER).

NOMINAL A/C: (DEBIT ALL EXPENDITURE
CREDIT ALL INCOMES).

REAL A/C:(WHAT COMES IN
WHAT GOES OUT).

FINALLY WE GOT THAT DEBIT & CREDIT IS MAIN FUNDAMENTAL OF
ACCOUNTING.

Answer / siva prasad.y

Fundamentals of 'Accounting' are Debit & Credit

Answer / rama devi

ACCOUNTING IS DEFINED AS "THE ART OF RECORDING. CLASSIFYING
AND SUMMARISING IN TERMS OF TRANSACTIONS AND EVENTS OF A
FINANCIAL CHARACTER AND INTERPRETING THE RESULTS THEREOF

Answer / vo jayakrishnan

ACCOUNTING IS DEFINED AS "THE ART OF RECORDING. CLASSIFYING
AND SUMMARISING IN TERMS OF TRANSACTIONS AND EVENTS OF A
FINANCIAL CHARACTER AND INTERPRETING THE RESULTS THEREOF"

Answer / sukirti

only cash transaction are recorded.
dual entry is done.
one year a/c's are prepared.
B/S is prepared once's in year end.

Answer / vinoth

This system is called double-entry because each transaction
is recorded in at least two accounts. Each transaction
results in at least one account being debited and at least
one account being credited, with the total debits of the
transaction equal to the total credits.

Answer / ajay srivastava

Fundamentals of accounting is to find out the change in position of assets and liabilities in a given time frame say one year period to ascertain the effects of business transactions. for this purpose we use a systematic method of keeping books of accounts which are prepared of generally accepted accounting principles.

Answer / n.sudhakar babu

Fundmentals of accounting systems is cash system or accural
system and Mercantile system

which are company offering jobs in PORTFOLIO MANAGEMENT ?

0 Answers  

I am pursuing MBA in finance and I am having the work experience of 2 years as a customer support executive in Lg electronics. So,Please suggest me whether I can show this experience at the time of interview or not?

1 Answers  

what is circuit filter?

0 Answers  

what is the accounting treatemnt for issuing material to a subcontractor on recovery basis?

2 Answers  

Fiscal year variant F1 has 6 posting periods and fiscal year variant F2 has 4 posting periods. The posting have different start and ending dates.assign posting period variant F1 is assigned to leading ledger (0L) and F2 is assigned to the non-leading ledger(N1). You get an error message when making a posting in the non-leading ledger.?( any 1 answer) • The posting period variant of the non-leading ledger and the leading are different • The fiscal year variant of the non-leading ledger and the leading ledger are different • The posting is being made in a special period, but both variants are examples of a shortened fiscal year • The posting period for the non leading ledger group”N1” is closed

0 Answers   IBM, SAP Labs,

Short Answer on ________Ad-Valorem Duties

0 Answers  

Contingent liabilities should be recorded in the accounts when A) It is probable that the future event will occur B) The amount of the liability can be reasonably estimated C) Both A&B D) Either A or B

5 Answers   FactSet Systems,

WHEN CREDITORS SHOULD BE COME UNDER DEBTORS IN WHAT SITUATIONS EXPLAIN WITH EXAMPLES

2 Answers  

WHAT IS 'MORTGAGE AND REVERSE MORTGAGE'?

3 Answers   BA Continnum Solutions,

what is the document spliting?

0 Answers   Deloitte,

what is different between LC's and BG's

1 Answers   IVRCL,

how many stocks listed in national stock exchange

2 Answers   India Infoline,