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
DT Fundas - Tarun rustagi ( Author) (1150 Points)
01 July 2010dear 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
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.
DT Fundas - Tarun rustagi
( Author)
(1150 Points)
Replied 01 July 2010
thanks for ur valuable replies to my post.thanks a lot
CAclubindia
