What is American approach? Why do we use it inspite of Modern
approach or Enlish approach ?
- 1 Answers
- 3750 Views
- HCL, I also Faced
- E-Mail Answers
Answer Posted / 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 |
Post New Answer View All Answers
Are you comfortable with cold-calling?
Why is accuracy important in accounting?
how to individual capital account.
What is journalizing? What are the columns of a journal?
What is the equation for acid-test ratio in accounting?
discuss seperate determination concept
Spinoff,Spelloff
what is casual receipt? is it exmpted in income tax?
How to prepare in yearly turnover?
What Is Responsibility Accounting?
if we have provision for bad debts and RDD then on which amount we have to calculate RDD original or deducted?
What does an accurate trial balance suggest?
What is the Project Accounting in case of Real Estate or Construction Co`s ?
what is the amount withdrawlfrom other cbs branch by multicity chequ book.
a cheque is received from a debtor and is deposited in the bank on the same day. what will be the journal entry?
