dear friends
plz let me know
what is the major point of difference between real,personal and nominal accounts.i am little bit confused in it so plz help me guys.
thanks & regards
tarun rustagi
accounts basic
(Guest)
4 Replies
Sunil Liladhar Kotak
(Manager (F & A))
(2025 Points)
Replied 01 July 2010
Dear,
Pls go through a good book with some good examples
it will hepl u to a great extent
Sunil Liladhar Kotak
(Manager (F & A))
(2025 Points)
Replied 01 July 2010
For Real Account
e.g. Cash - Rules Dr. what comes in
Cr. What goes out
(These accounts will form part of balance sheet )
For Nominal A/c - Dr. Expense -
Cr. Income
(These accounts will not form part of balance sheet )
For Personal A/cs- Cr the giver
Dr. The receiver
(These accounts will form part of balance sheet )
Shweta Garg
(CA FINAL Executive(Payables))
(147 Points)
Replied 01 July 2010
Real Account-------Assets and Liabilities.
Personal Account------in the name of a person, includes individual, huf, co,firm etc.
Nominal Account-------Income, expenditure, profits, lossesetc.
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