I was thinking about life and tried to understand it from the aspects of three principles of Accounting. I was amazed at the results I got. Would like to share with you..
Three principles of Accounting divide all the journal entries in three categories; Personal, Nominal and Real.
Here is the application of each principle to life:
1. Real:
Debit what comes in;
Credit what goes out.
i.e. If you get something debit it; if you give something credit that.
Applying it to Life:
e.g. if you get immense Love from someone, give your heart to that person.
Debit the love;
Credit the heart.
2. Personal:
Debit The receiver;
Credit The giver.
i.e If you receive something Debit the person who receives it and Credit the one who gives.
Applying it to Life:
e.g. if you get happiness from someone then:
The receiver of happiness is indebted;
so give the Credit to the Giver, in form of regards.
3. Nominal:
Debit the Expense;
Credit the Income.
i.e. If you spend, debit it; if you earn, credit that.
Applying it to Life:
e.g. if someone shows courage, that person gets respect in return.
Debit the courage, Credit The respect.
Apply* these rules and see the change. Cheers. Vikrmn:
* Conditions Apply ;)
Posted by Vikrmn: Author of "10 Alone" (CA Vikram Verma) 10Alone.com
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