Accounts
This query is : Resolved
23 October 2012
what is the meaning of real, nominal and personal accounting
Dintakurthi Tirumala
(Expert)
23 October 2012
Personal accounts means which representing the names of peoples, things etc... like Yagnesh dave, Hyderabad etc...
Real accounts means which representing the assets and liabilities like cash, buildings, loans etc....
Nominal accounts means which representing the expenses or income i.e which goes to P&L account i.e like salaries, discount received, commission received, discount paid etc...
Based on such classification and rules our accounting totally depending.
OM SAI SRI SAI JAI JAI SAI
Real accounts means which representing the assets and liabilities like cash, buildings, loans etc....
Nominal accounts means which representing the expenses or income i.e which goes to P&L account i.e like salaries, discount received, commission received, discount paid etc...
Based on such classification and rules our accounting totally depending.
OM SAI SRI SAI JAI JAI SAI
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
