Accounting is one the most
essential subject for the students who are in commerce stream. As we know the
depth of accounting subject and its value so it is very important to assist
student in a way that they doesn’t lose their curiosity in the subject.
Accounting involves three types of accounts-
- Real Account
- Nominal Account
- Personal Account
These three accounts are again
dependent upon three basic rules of accounting i.e. debit the receiver credit
the giver, debit what goes out and credit what comes in finally debit all
expense and sufferers and credit all gains and income. If student is clear
about all the account and three basic rules that modify of learning better
accounts is assured. Accounting is a type of subject which requires practice
like maths. Accounting is based on methods of Journal entries. At accounting
assistance we can also say that journal entry is base for accounting entry and
thus good base for journal entry can automatically provide better base for
other accounting practices.
Journal entry is the basic step
for learning accounts and after passing journal entry, ledger account is
prepared for accounts which are affected in the journal entry. After the
creation of ledger, trial balance is prepared to check the arithmetical
accuracy of the books of accounts and therefore this trial balance assists in
preparation of the final accounts i.e. Trading Account in which all the
activities related to trading and manufacturing cost are recorded, then Loss
and Profit statement is generated where all the expenses and income are
recorded and at last balance sheet is created which records all the liabilities
and asset including the share holder’s equity which indicates the exact picture
of the company’s financial position and financial status of the company.
There are various sites which provide Accounting Assignment Help.
There are various sites which provide Accounting Assignment Help.
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