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.
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 | ||
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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. |
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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
| 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
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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