Answer / swati kumari pattnaik

Accounting principles are classified into two categories.

Accounting concepts and conventions.

Accounting concepts
1.Accounting Period Concept.
2.Business entity.
3.Cost Concept.
4.Dual Aspect.
5.Accrual Concept.
6.Going Concern Concept.
7.Money Measurement Concept.
8.Matching Concept.
9.Realization Concept.

Conventions
1.consistency.
2.full disclosure.
3.materiality.
4.conservatism.

Answer / rahul sharma

plz close this here

Real a/c
Debit what comes in
Credit what goes out

Personal a/c
Debit the receiver
Credit the giver

Nominal a/c
Debit all expenses & losses
Credit all gains & income

Answer / srilatha

there are 2types of accounting principles
1.acoounting conepts
2.accounting convertions

Answer / nilesh dapke

There are 3 accounting principle
Real account:debit what comes in and credit what goes out
Eg: machinery a/c dr
To cash a/c
(Being machinery purchased by cash)
purchases a/c dr
To cash a/c
Nominal account:debit all expenses credit all incomes
Eg: salaries a/c dr
To cash a/c
(Being salaries paid by cash)
cash a/c dr
To sales a/c
personal account:debit the receiver and credit the giver
Eg: satish a/c Dr
To cash a/c
(Being cash paid)
cash a/c dr
To shubash a/c
(Being cash received from Ganesh)

Answer / dinesh singh

Accounting Principles are classified into two categories
A) Accounting concepts
B) Accounting Conventions

A) Accounting concepts
1)Business entity concept - business is separet entity from
owner
2)Dual Aspect concept - Liabilities = Assets (dr = cr)
3)Going concern concept - business is going to be in
existence for an indefinitely long time.
4)Accounting period concept - Indefinite long period is
divided into short span for accounting purpose.
5)Cost concept - cost of aquisition of assets is considered
for accounting (considering depriciation) and not current
price of assets.
6)Money measurement concept - only facts which can be
measured in money find place in accounting.
7)Matching concept - expences and costs incurred during
period whether paid or not must match the revenue for that
particular period.

B)Accounting Conventions
1) Convention of conservation
2)Convention of Materiality
3)Convention of Consistency

Answer / b.narasimha rao

accounting principles are two types

1. accounting concepts

2.accounting conventions

Answer / pallavi arun jadhav.

There are three types of accounting principles which are as
follows :-

1) PERSONAL ACCOUNTS
Debit the receiver,
Credit the giver.


2) REAL ACCOUNTS
Debit what comes in,
Credit what goes out,


3) NOMINAL ACCOUNTS
Debit all expences and losses,
Credit all income and gains.

Answer / kiran

ACCOUNTING PRINCIPLES ARE THOSE GENERALLY
ACCEPTED GUIDELINES WHICH FORM A BASE FOR PREPARATION AND
USAGE OF ACCOUNTING INFORMATION.IT IS MAINLY DIVIDED INTO
1. ACCOUNTING CONCEPTS & ASSUMPTIONS
2. ACCOUNTING PRINCIPLES
3. MODIFYING PRINCIPLES

Answer / p. srikar

An account is a summary of record of all the transcations
releating to a Person, Asset, Expences are gain. It is 2
sides the Left hand side called Debit and Right hand side
called Credit. Accounting is a bradly classfice in to 3
types. These are..
1) Personal Account :- This accounts of Persons with whom a
concern carries on business personal account may be
a) Account of Natural persons such as Ramakrishna,
Kishore etc..
b) Account of Artifical persons are a Group of Bodies
Such a Bankers, Universal trading co. etc..
c) Represenative personal a/c. such as Salaries, Prepaid
Insurance etc..
2) Real Account :- This accounts releating to Properties
are Assets of a Trader known as Real a/c. It's include
Tangable Assets. Eg. Building, Furniture.. Intigable Assets
Good will, Petent..
3) Nominal Account:- Account dealing with Expenses, Losses
and Gains, Incomes. Eg. Salaries Rent etc

Answer / sindhu

accouting concepts are:
1.accounting concepts
2.accounting conventions

Regarding export, We have Excisable goods for Export, issuing Form ARE1 (Annexure-1), If we'll pay Excise Duty with adjustment from our accumulated of cenvat and "Claim for rebate of Duty paid on goods exported."/ CE Rule 18 Which type shipping bill should be file for "Claim for rebate of Duty paid on goods exported. .......Plz advise now can we also get DBK all industry rate? Motive: To reduce the accumulation of heavy cenvat To claim the refund of duty drawback, duty paid on raw material components, parts, packing material & others applicable inputs under Section 4A of valuation act. FYIP, We are registered with deptt. of excise and availing the cenvat on all inputs. Availing facility of CENVAT credit under CENVAT credit rules, 2002

0 Answers  

mortgage case study 

2 Answers   HDFC, Stree Nidhi, XL Dynamics,

what is the generic difference between debt and equity?

9 Answers   Deutsche Bank, Utkal Alumina International,

i am a accountant and my salary is 16500 pm.. i want a housing loan from nationalize bank up to Rs. 700000/- and i want to pay EMI near about Rs.2000-2500 per month so can i get loan form bank if yes, for how many years (loan repayment years) ? pls answer me

2 Answers  

Please send all the previous year question on SBI clerical post.My e-mail ID is raffiq1182@yahoo.com

0 Answers   Suzlon,

WHAT IS MISC EXPENDITURE?

1 Answers  

What is Call money market?

0 Answers   RBI,

what are the main component of bailout funds? what are the limitations of bailout fund?

0 Answers   TCS,

Electronics has given technologies to bank. What are they? Explain?

0 Answers   State Bank Of India SBI,

What is the difference between check and draft?

0 Answers  

What are different types of 'non-tax receipts.'?

0 Answers  

Which technology is used by the banks for settlement of cheque?

0 Answers