Basics of Accounting_Chapter-1

Rahul Kumar Pugalia

05/08/2019 0 0

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GOLDEN RULES OF ACCOUNTING

Rules of debit and credit 1. Personal accounts : Debit the receiver & Credit the giver (supplier)2. Real accounts : Debit what comes in & Credit what goes out3. Nominal accounts : Debit expenses and losses & Credit incomes and gains

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Differences Between book Keeping and Accountancy

Bookkeeping involves the systematic recording, storing, and retrieving of financial transactions. It's more about data entry and maintaining accurate financial records. Accountancy encompasses a broader...

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