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Thursday, September 30, 2010

acconting principles



  Re: What are accounting Principles?
Answer
# 1
Maintaining the Basic Accounting Books, ex. Daybook, bank
book, purchase sales account and vouchers. regular invertory
process
 
Is This Answer Correct ?    486 Yes 610 No
Karthik
 

  Re: What are accounting Principles?
Answer
# 2
there are 3 types of accounting principals 
1. personnel accoumt:- debit the receiver and credit the 
giver, 
2. real account:- debit what comes in and credit what goes 
out.
3. nominal account:- debit all expenses and losses and 
credit all gains and incomes
 
Is This Answer Correct ?    1455 Yes 218 No
Sirisha
 
 
 

  Re: What are accounting Principles?
Answer
# 3
accounting is treated by some expert as science.science is 
based on certain laws n principles. so accounting 
principles are some rules or norms of accounting, on which 
whole accounting is based. 
ex. of accounting principles are business entity concept, 
money measurement concept, cost concept, double entry 
concept etc
 
Is This Answer Correct ?    417 Yes 152 No
Shruti
 

  Re: What are accounting Principles?
Answer
# 4
Accounting Principal are those set of standard that is use 
by the accountant worldwide while recording accounting 
transaction.
Principals divide into two parts.
1- Accounting Concept
2-acounting convension
 
Is This Answer Correct ?    359 Yes 135 No
Ruchi Singh
 

  Re: What are accounting Principles?
Answer
# 5
Accounting Principles are:

Nominal Accounting: Debit all Expenses and Losses and 
Credit all Gains and Incomes

Personal Accounting:Debit the Receiver and Credit the 
Giver, 

Real Accounting:Debit what Comes In and Credit what Goes 
Out.
 
Is This Answer Correct ?    447 Yes 152 No
Santosh
 

  Re: What are accounting Principles?
Answer
# 6
Accounting Principles are:

Personal Account: Debit the Receiver and
                  Credit the Giver.

Real Account:    Debit what Comes In and 
                  Credit what Goes Out.

Nominal Account: Debit all Expenses and Losses and 
                 Credit all Gains and Incomes
 
Is This Answer Correct ?    493 Yes 127 No
Swathi
 

  Re: What are accounting Principles?
Answer
# 7
Accounting principles are:

1. Going concern
2. Dual aspect
3. Accrual basis and
4. Consistency
 
Is This Answer Correct ?    247 Yes 258 No
Vishnu
 

  Re: What are accounting Principles?
Answer
# 8
accounting principles
  personal accounting:this account belongs all persons,banks
    
   Debit:debit the receiver
   credit:credit the giver
real account:this account belongs to all assets 
   
    debit:debit what comes in
    credit: cridit what goes out
nominal account:this account belongs to all incomes and 
expendature

     debit: debit all expenses and lossess
     credit : credit all incomes and gains
 
Is This Answer Correct ?    312 Yes 113 No
Potenaik
 

  Re: What are accounting Principles?
Answer
# 9
Personal,Real,Nominal are not principles of accounts.
They are types of accounts are called golden rules.

As per Accounting standard 1 following are principles of 
accounts basically on which financial statements are 
prepared.
1.Going concern.
2.Accuracy.
3.Consistancy.
 
Is This Answer Correct ?    226 Yes 100 No
Gopi Kanth
 

  Re: What are accounting Principles?
Answer
# 10
maintaining the accounts 
eg:daybook,bankbook,salesandpurchase account,etc   there 
are types of accounts 1.personial:debit recieves credit 
gives                                                 
2.real:debit comes out credit goves 
out                                                      
3.nominal:debit expenditure,loss credit 
profit
 
Is This Answer Correct ?    96 Yes 160 No
Ahamed
 

  Re: What are accounting Principles?
Answer
# 11
there are three types of accounting principles available:-
1.Personnel Account:- Deals with person individual often 
company extra.
      * Debit the receiver
      * Credit the giver
2.Real Account:- Real accounts are those which are tangeble 
in nature an which the business owns.
      * Debit what comes in
      * Credit what goes out
3.Nomial Account:- These are accounts other than personel 
and real includes expences, losses, incomes and gains.
      * Debit all expences and losses
      * Credit all incomes and gains
 
Is This Answer Correct ?    199 Yes 70 No
Aman
 

  Re: What are accounting Principles?
Answer
# 12
A general law or rule,adopted or professed as a guide to 
action,a settled ground or basis of conduct or practice
 
Is This Answer Correct ?    49 Yes 124 No
Sajad
 

  Re: What are accounting Principles?
Answer
# 13
Accounting principles are basically the general rules and 
guidelines that every firm has to follow while preparing 
their accounts.The principles are : 
a) Consistency
b) Materiality
c) Dual aspect
d) Conservatism
e) Reliability
 
Is This Answer Correct ?    176 Yes 57 No
Madhav Rao
 

  Re: What are accounting Principles?
Answer
# 14
ACCOUNTING PRINCIPLES:
(1)PERSONAL ACCOUNT:DEBIT WHAT COMES IN 
                    CREDIT WHAT GOES OUT
(2)REAL ACCOUNT:DEBIT WHAT COMES IN
                CREDIT WHAT GOES OUT
(3)NOMINAL ACCOUNT:DEBIT ALL EXPENSES AND LOSSES
                   CREDIT ALL PROFIT  AND GAINS
 
Is This Answer Correct ?    114 Yes 130 No
P.philemon Babu
 

  Re: What are accounting Principles?
Answer
# 15
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
 
Is This Answer Correct ?    216 Yes 33 No
Mandar
 

  Re: What are accounting Principles?
Answer
# 16
There are three types of Accounting principles:
1.Real Account 
2.Nominal Account
3.Personal Account

Real Account:Debit what comes in credit what goes out.

Nominal Account:Debit all Expenses and Losses and 
                 Credit all Gains and Incomes
Personal Account:debit the receiver
                 credit the giver
 
Is This Answer Correct ?    131 Yes 61 No
Swapna
 

  Re: What are accounting Principles?
Answer
# 17
personal a/c: dedit whatcomes in and what goes out
real a/c: all expenses,profits debit and all revenues and 
losses credit
nominal a/c: debit is receiver credit is the giver
 
Is This Answer Correct ?    61 Yes 124 No
Ramesh.mandadapu
 

  Re: What are accounting Principles?
Answer
# 18
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:              Raj a/c Dr
                     To cash a/c
                (Being cash paid)
                 cash a/c  dr
                     To shubash a/c
             (Being cash received from shubash)
 
Is This Answer Correct ?    116 Yes 68 No
Sadanandam
 

  Re: What are accounting Principles?
Answer
# 19
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
 
Is This Answer Correct ?    147 Yes 31 No
Hemant Mittal
 

  Re: What are accounting Principles?
Answer
# 20
The general decision rules which govern the development of 
accounting techniques.these principles guide how 
transactions should be recorded and reported.
accounting principles includes accounting concepts and 
accounting conventions.
Under accounting concepts comes separate entity,going 
concern,money measurement,cost dual aspect,accounting 
period matching concept,realisition
Under accounting conventions comes conservatism,full 
disclosure,consistency,materiality.
 
Is This Answer Correct ?    80 Yes 33 No
Safora
 

  Re: What are accounting Principles?
Answer
# 21
REAL ACCOUNTS      DEBIT WHAT COMES IN
                   CREDIT WHAT GOES OUT
             
NOMINAL ACCOUNTS   DEBIT ALL EXPENSES AND LOSSES  
                   CREDIT ALL INCOMES AND REVENUES

PERSONAL ACCOUNTS  DEBIT THE GIVER
                   CREDIT THE RECEIVER
 
Is This Answer Correct ?    65 Yes 97 No
Shoukatali
 

  Re: What are accounting Principles?
Answer
# 22
Accounting principles are like laws that are made by
International Accounting Standards to be used in business so
that all tractions and records are kept clear and fair. The
basic difference between principles and concepts is to their
implementation and understanding. Principles are used to
implement where as procedures are used for understanding of
accounting.
 
Is This Answer Correct ?    48 Yes 58 No
Jyoti S K
 

  Re: What are accounting Principles?
Answer
# 23
Personal A/c 
1) Debit the Receiver
2) Credit the Give
Real A/c
1) Debit what Comes in
2) Credit What Goes out
Nominal A/c
1) Debit all the Expenses and Loss
2) Credit all the Income and Gain
 
Is This Answer Correct ?    96 Yes 37 No
S Geetha
 

  Re: What are accounting Principles?
Answer
# 24
Persnol A/c
debit the receiver and the cerdit the giver
Real A/c
debit what comes in and cerdit what goes out
nominal A/c
debit all expenses and losses and cerdit all incomes and 
revenues
 
Is This Answer Correct ?    79 Yes 45 No
Shoukatali
 

  Re: What are accounting Principles?
Answer
# 25
Accounting Principals:

Personal Account:Debit the receiver
                 Credit the giver
                 (accounts recording transactions with person)

Real Account    : Debit what comes in
                  Credit what goes out
                  (It is relating to tangible things like  
              
                   goods, cash,Buildings,Bills Receivable)
Nominal Account : Debit expenses and losess
                  Credit incomes and gains
                  (It is relate to the losses, gains, 
                   expenses and incomes like rent  salaries
                    Bad debts.....)
 

Branches of Accounting

The accounting system , as developed originally, concerned only the financial state of the affairs and the financial results of operations.This is called "Financial Accounting"
It includes preparation of accounts, generally on historical basis, so as to enable the management to prepare the financial statements showing the results of operations and the financial state of affairs, to exercise full control over the property and assets of the firm or the institute concerned and to prepare returns and statements concerning
taxation.
Cost Accounting developed because of the limitation of financial accounting in respect of information relating to the cost of individual jobs,products,etc
This information is needed for the purpose of making numerous decisions(e.g. the prices to be quoted a special customer or the priority to be accorded to a product when resources are scares.etc.) and for exercising control over the costs being occurred. Cost Accounting basically involves estimating costs in advance and detailed analysis.

A third branch of accounting which has now developed is Management Accounting. It means such accounting as will enable management to discharge its functions properly, chiefly in respect of forecasting and budgeting, control over costs and revenues decisions, both routine and strategic

About G-20

What is the G-20
The Group of Twenty (G-20) Finance Ministers and Central Bank Governors was established in 1999 to bring together systemically important industrialized and developing economies to discuss key issues in the global economy. The inaugural meeting of the G-20 took place in Berlin, on December 15-16, 1999, hosted by German and Canadian finance ministers.
Mandate
The G-20 is the premier forum for our international economic development that promotes open and constructive discussion between industrial and emerging-market countries on key issues related to global economic stability. By contributing to the strengthening of the international financial architecture and providing opportunities for dialogue on national policies, international co-operation, and international financial institutions, the G-20 helps to support growth and development across the globe.
Origins
The G-20 was created as a response both to the financial crises of the late 1990s and to a growing recognition that key emerging-market countries were not adequately included in the core of global economic discussion and governance. Prior to the G-20 creation, similar groupings to promote dialogue and analysis had been established at the initiative of the G-7. The G-22 met at Washington D.C. in April and October 1998. Its aim was to involve non-G-7 countries in the resolution of global aspects of the financial crisis then affecting emerging-market countries. Two subsequent meetings comprising a larger group of participants (G-33) held in March and April 1999 discussed reforms of the global economy and the international financial system. The proposals made by the G-22 and the G-33 to reduce the world economy's susceptibility to crises showed the potential benefits of a regular international consultative forum embracing the emerging-market countries. Such a regular dialogue with a constant set of partners was institutionalized by the creation of the G-20 in 1999.
Membership
The G-20 is made up of the finance ministers and central bank governors of 19 countries:
Argentina
Australia
Brazil
Canada
China
France
Germany
India
Indonesia
Italy
Japan
Mexico
Russia
Saudi Arabia
South Africa
Republic of Korea
Turkey
United Kingdom
United States of America
The European Union, who is represented by the rotating Council presidency and the European Central Bank, is the 20th member of the G-20. To ensure global economic fora and institutions work together, the Managing Director of the International Monetary Fund (IMF) and the President of the World Bank, plus the chairs of the International Monetary and Financial Committee and Development Committee of the IMF and World Bank, also participate in G-20 meetings on an ex-officio basis. The G-20 thus brings together important industrial and emerging-market countries from all regions of the world. Together, member countries represent around 90 per cent of global gross national product, 80 per cent of world trade (including EU intra-trade) as well as two-thirds of the world's population. The G-20's economic weight and broad membership gives it a high degree of legitimacy and influence over the management of the global economy and financial system.
Achievements
The G-20 has progressed a range of issues since 1999, including agreement about policies for growth, reducing abuse of the financial system, dealing with financial crises and combating terrorist financing. The G-20 also aims to foster the adoption of internationally recognized standards through the example set by its members in areas such as the transparency of fiscal policy and combating money laundering and the financing of terrorism. In 2004, G-20 countries committed to new higher standards of transparency and exchange of information on tax matters. This aims to combat abuses of the financial system and illicit activities including tax evasion. The G-20 has also aimed to develop a common view among members on issues related to further development of the global economic and financial system.
To tackle the financial and economic crisis that spread across the globe in 2008, the G-20 members were called upon to further strengthen international cooperation. Since then, the concerted and decisive actions of the G-20 helped the world deal effectively with the current financial and economic crisis. The G-20 has already delivered a number of significant and concrete outcomes. For examples, it committed to implement the unprecedented and most coordinated expansionary macroeconomic policies, including the fiscal expansion of US$5 trillion and the unconventional monetary policy instruments; significantly enhance the financial regulations, notably by the establishment of the Financial Stability Board(FSB); and substantially strengthen the International Financial Institutions(IFIs), including the expansion of resources and the improvement of precautionary lending facilities of the IFIs.
Reflecting on these achievements and recognizing that more needs to be done to ensure a strong, sustained and balanced global recovery, the G-20 Leaders at Pittsburgh Summit designated the G-20 as the premier forum for international economic cooperation.
Chair
Unlike international institutions such as the Organization for Economic Co-operation and Development (OECD), IMF or World Bank, the G-20 (like the G-7) has no permanent staff of its own. The G-20 chair rotates between members, and is selected from a different regional grouping of countries each year. In 2010 the G-20 chair is the Republic of Korea, and in 2011 it will be France. The chair is part of a revolving three-member management Troika of past, present and future chairs. The incumbent chair establishes a temporary secretariat for the duration of its term, which coordinates the group's work and organizes its meetings. The role of the Troika is to ensure continuity in the G-20's work and management across host years.
Former G-20 Chairs
1999-2001 Canada
2002 India
2003 Mexico
2004 Germany
2005 China
2006 Australia
2007 South Africa
2008 Brazil
2009 United Kingdom
Meetings and activities
It is normal practice for the G-20 finance ministers and central bank governors to meet once a year. The last meeting of ministers and governors was held in St. Andrews, UK on 6-7 November 2009. The ministers' and governors' meeting is usually preceded by two deputies' meetings and extensive technical work. This technical work takes the form of workshops, reports and case studies on specific subjects, that aim to provide ministers and governors with contemporary analysis and insights, to better inform their consideration of policy challenges and options.

2010 G20 Events
Deputies Meeting, February 27-28, Korea. (Incheon Songdo)
Meeting of Finance Ministers and Central Bank Governors, April 23, USA. (Washington, D.C)
Meeting of Finance Ministers and Central Bank Governors, June 4-5, Korea. (Busan)
G20 Summit Meeting, June 26-27, Canada. (Toronto)
Deputies Meeting, September 4-5, Korea. (Gwangju)
Deputies Meeting, October 7, USA. (Washington, D.C)
Meeting of Finance Ministers and Central Bank Governors, October 22-23, Korea. (Gyeongju)
G20 Summit Meeting, November 11-12, Korea (Seoul)
Interaction with other international organizations
The G-20 cooperates closely with various other major international organizations and fora, as the potential to develop common positions on complex issues among G-20 members can add political momentum to decision-making in other bodies. The participation of the President of the World Bank, the Managing Director of the IMF and the chairs of the International Monetary and Financial Committee and the Development Committee in the G-20 meetings ensures that the G-20 process is well integrated with the activities of the Bretton Woods Institutions. The G-20 also works with, and encourages, other international groups and organizations, such as the Financial Stability Board and the Basel Committee on Banking Supervision, in progressing international and domestic economic policy reforms. In addition, experts from private-sector institutions and non-government organisations are invited to G-20 meetings on an ad hoc basis in order to exploit synergies in analyzing selected topics and avoid overlap.
External communication
The country currently chairing the G-20 posts details of the group's meetings and work program on a dedicated website. Although participation in the meetings is reserved for members, the public is informed about what was discussed and agreed immediately after the meeting of ministers and governors has ended. After each meeting of ministers and governors, the G-20 publishes a communiqué which records the agreements reached and measures outlined. Material on the forward work program is also made public.

Beauty of Our Own Earth.... (Beautiful pictures, I wonder if this really






  
  

  
  

  
  
  

  
  

  

  
  

  

  

  

  

  

Nick Jonas - Introducing Me Lyrics

I'm, I'm good at wasting time
I think lyrics need to rhyme
And you're not asking
But I'm trying to grow a mustache

I eat cheese, but only on pizza, please
And sometimes on a homemade quesadilla
Otherwise it smells like feet to me
And I, I really like it when the moon looks like a toenail
And I love you when you say my name

If you wanna know
Here it goes
Gonna tell you this
The part of me that'll show if you're close
Gonna let you see everything
But remember that you asked for it
I'll try to do my best to impress
But it's easier to let you take a guess at the rest
But you wanna hear what lives in my brain
My heart, will you ask for it, for your perusing?
At times confusing, slightly amusing
Introducing me

Doo doo, doo doo doo doo to
Doo doo, doo doo doo doo to
La la la la
La la la la la la la la, da

I never trust a dog to watch my food
And I like to use to the word "dude"
As a noun, or an adverb, or an adjective
And I've never really been into cars
I like really cool guitars and superheroes
And checks with lots of zeros on 'em
I love the sound of violins
And making someone smile

If you wanna know
Here it goes
Gonna tell you this
http://www.elyricsworld.com/introducing_me_lyrics_nick_jonas.html
The part of me that'll show if you're close
Gonna let you see everything
But remember that you asked for it
I'll try to do my best to impress
But it's easier to let you take a guess at the rest
But you wanna hear what lives in my brain
My heart, will you ask for it, for your perusing?
At times confusing, possibly amusing
Introducing me

Well, you probably know more than you ever wanted to
So be careful when you ask next time

So if you wanna know
Here it goes
Gonna tell you this
The part of me that'll show if you're close
Gonna let you see everything
But remember that you asked for it
I'll try to do my best to impress
But it's easier to let you take a guess at the rest
But you wanna hear what lives in my brain
My heart, will you ask for it, for your perusing?
At times confusing, hopefully amusing
Introducing me

Doo doo, doo doo doo doo to
Doo doo, doo doo doo doo to
Doo doo doo doo

OMG ( Feat Will.I.Am ) Lyrics

OMG ( Feat Will.I.Am ) Lyrics

[Will.I.Am]
Oh myy gosh

[Usher:]
Baby let me…

[Will.I.Am]
I did it again, so I’m gonna let the beat drop
Oh myy gosh

[Chorus]
Baby let me love you downnn
There’s so many ways to love ya
Baby I can break you downnn
There’s so many ways to love ya
Got me like, ooh myy gosh I’m soo in love
I found you finallyy, you make me want to say
Oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh,
Ohh myy gosh

You make me want to say

Oh, oh, oh, oh, oh, oh, You make me wanna say, oh, oh, oh, oh Oh My goshh

[Verse 1]
I fell in love with shawty when I seen her on the dance floor
She was dancing sexy, pop, pop, popping, dropping, dropping low
Never ever has a lady hit me on the first sight
This was something special; this was just like dynamite
Honey got a booty like pow, pow, pow
Honey got some boobies like wow, oh wow
Girl you know I’m loving your, loving your style
Check, check, check, check, check, checking you out like,
Ooh (oooh) she got it allll
Sexy from her head to the toes
And I want it all, it all, it all

[Chorus]
Baby let me love you downnn
There’s so many ways to love ya
Baby I can break you downnn
There’s so many ways to love ya
Got me like, ooh myy gosh I’m soo in love
I found you finallyy, it make me want to say
Oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh,
Ohh myy gosh

You make me want to say (2x)
Oh, oh, oh, oh, oh, oh, oh, oh, oh, oh

[Verse 2]
Feel so hot for honey out of all the girls up in this club
This one got me whipped, just off one look, yep I fell in love
This one something special, this one just like dynamite,
out of sight
Fell in love with honey like my, oh my
Honey looking wonderful; fly, so fly
http://www.elyricsworld.com/omg_(_feat_will.i.am_)_lyrics_usher.html
Honey like a supermodel; my, oh my
Baby how you do that, make a grown man cry?
Ooh (oooh) baby, you got it alll
Sexy from her head to the toes
And I want it all, it all, it all

[Chorus]
So, honey let me love you downnn
There’s so many ways to love ya
Baby I can break it downnn
There’s so many ways to love ya
Got me like, ooh myy gosh I’m soo in love I found you finallyy,
You make me want to say…
Oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh,

Oh my gosh

Oh my gosh
oh my
oh my
oh, oh my gosh
oh myy gosh

[Will.I.Am]
Oh myy gosh
I did it again
So I’m gone let the beat drop

[Usher]x3
Oh, oh, oh myy
Oh, oh, oh my, my, my, my, my, my
Ooh my gosh oh, oh