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Basics of Accounting_Chapter-1

Rahul Kumar Pugalia

05/08/2019 0 0

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Crux of Golden Rule of Accountancy

As we know the golden rule of accountancy includes three accounts, which are used to make journal entries. 1. Personal A/C Debit the receiver credit the giver 2. Real A/C Debit what comes in Credit...

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Golden Rules of Accounting

Golden Rules of Accounting: i. Personal Account: Dr. The Receiver Cr. The Giver ii. Real Account: Dr. What Comes in Cr.What Goes out iii. Nominal Account: Dr.Expenses and Losses Dr.Incomes And Gains.

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Definitions of Bank Reconciliation Statement

A Bank Reconciliation Statement (BRS) is a financial document that compares the bank's records of an individual or a company's account with the corresponding entries in their own accounting records. It...

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Introduction To Accounting: Part 12: Business Entity Concept Or Separate Entity Concept

Suppose you open a book store, so, in common parlance, it would be said that the business is being carried on by you, and you are earning profit or incurring loss. However, Accounting sees it...

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A short concept of Fiscal Deficit in Economics :--

A fiscal deficit occurs when a government's total expenditures exceed the revenue that it generates, excluding money from borrowings. Deficit differs from debt, which is an accumulation of yearly deficits. A...

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