Srini (student) (52 Points)
19 October 2011Hello pal,
I'm doing my ICWA foundation i dont have any back ground knowledege about accounting since i had took science in higher school. I kindly request you say about ledger accounts how they are posted? what is balance c/d and b/d.. ? how to know to record the entries in dr. side or cr. side.? I need to understand the clear concept of debit and credit
Please help me.
Thank you in advance.
Phalgun
(Audit Manager)
(327 Points)
Replied 19 October 2011
To understand ledger postings. You need to have knowledge of Journal. You better start studying Pre University(First Year) accounts. It will clarify all your doubts. Authors like B S Raman & T V Raju ...etc
Rahul Gupta
(Chartered Accountant)
(644 Points)
Replied 19 October 2011
Its too time consuming to expalin the concept on CCI Forum. No body will type the whole content.
Better to refer +1 Accounts Book. it will provide the clear & basic points. You will learn it easily.
Deepti
(article)
(59 Points)
Replied 20 October 2011
| Originally posted by : Srini | ||
 |
Hello pal, I'm doing my ICWA foundation i dont have any back ground knowledege about accounting since i had took science in higher school. I kindly request you say about ledger accounts how they are posted? what is balance c/d and b/d.. ? how to know to record the entries in dr. side or cr. side.? I need to understand the clear concept of debit and credit Please help me. Thank you in advance. |
 |
1. If there is an increase in asset A/c- Debit the asset account
2. If there is an decrease in asset A/c- credit the asset account
Please refer the following book for easy and better understanding of basic accounting methods
Deepti
(article)
(59 Points)
Replied 20 October 2011
| Originally posted by : Deepti | ||
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Originally posted by : Srini Hello pal, I'm doing my ICWA foundation i dont have any back ground knowledege about accounting since i had took science in higher school. I kindly request you say about ledger accounts how they are posted? what is balance c/d and b/d.. ? how to know to record the entries in dr. side or cr. side.? I need to understand the clear concept of debit and credit Please help me. Thank you in advance. 1. If there is an increase in asset A/c- Debit the asset account 2. If there is an decrease in asset A/c- credit the asset account Please refer the following book for easy and better understanding of basic accounting methods Accounting |
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1. If there is an decrease in income- Debit the income account
2. If there is an increase in income - Credit the income account
shwetha
(CWA learner)
(447 Points)
Replied 21 November 2011
Well Srini its tooo time consuming to explain what is ledger accounts and how it prepare. pls start preparation from Intermediate stage. What i mean to say start preparation like this,
1.Meaning of accountancy, book keeping
2. Golden rules of accounts
3. Journal
4. Ledger
3. Subsidary Ledger accounts
4. 2 colmns, 3 colmns cash books
5. T/B
6. Rectification of errors
7. Final accounts
8. Final accounts with adjustments
CA GOVIND KRISHNA AGARWAL
(CA)
(202 Points)
Replied 22 November 2011
| Please refer GOLDEN RULES OF ACCOUNTING | ||
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
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Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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