Ledger accounts tips

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.

Replies (6)

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

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.

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

Originally posted by : Deepti




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

1. If there is an decrease in income- Debit the income account

2. If there is an increase in income - Credit the income account

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

 

 

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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