About this document
Golden and Modern Accounting Rules by niraj jain is a document available to read on EtoBox.
The document outlines 3 types of accounts in accounting: 1. Personal accounts relate to individuals and companies the business deals with. The rule is to debit the receiver and credit the giver. 2. Real accounts relate to property owned by the business. The rule is to debit what comes in and credit what goes out. 3. Nominal accounts relate to income, expenses, profits and losses. The rule is to debit expenses and losses, and credit incomes and profits. Two examples are provided to illustrate applying
- Author
- niraj jain
- Language
- EN