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	2	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	4	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	4	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	4	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	2	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	3	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	3	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	3	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	0	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	1	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	1	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	3	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	1	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	1	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	3	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	0	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	0	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	0	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	2	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	0	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	0	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	0	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	0	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	0	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.....)