i m an ipcc student doing self study for all subjects.....my only problem is understanding and using the journal entries....i know entries follow the golden rules of accounting....but how do i remember all the entries of all chapters?? its quite huge ......do i have 2 learn all entries by heart???? pls guide me........................................ i know its a silly question...
9 Replies
CA Ayush Agarwal
(Kolkata-Pune-Mumbai)
(27186 Points)
Replied 20 August 2012
You Need One Private Tutor.
Start From Basic 12th Class.
yogesh sharma
(CA Student)
(268 Points)
Replied 20 August 2012
just follow these rules:
For Personal A/c (like persons names, firms, companies):
- Dr. Receiver
- Cr. Giver
For Real A/c (like all assets, goods, cash)
- Dr. What Comes in business
- Cr. What goes out form business
For nominal A/c (e.g. all expenses and incomes)
- Dr. all expenses and losses
- Cr. all incomes and gains
prithhis
(student)
(144 Points)
Replied 20 August 2012
thanks ayush ji and yogesh ji...i know the golden rules of accounting very well,so that is not my problem....my problem is applying the correct entries based on various situations......means i get confused which entry to pass....do i need to remember the theory part at the time of situations? means like this is happening and so this is increasing and this is decreasing so i have 2 pass this entry? particularly in company accounts part i get confused.....
CA Anushree jain
(CA)
(1531 Points)
Replied 20 August 2012
first of all let me make you very clear that entries are not mugged up
they automatically comes from concept mere golden rule cant help it ..
you need to be clear at your concepts yes theory is as important as practicle part both are incomplet without each other and even then you face problem join some good tuitions
or you can take guidance of your seniors who are in ca final
mrudula
(CA FINAL)
(57 Points)
Replied 20 August 2012
The journal entries should not be byhearted it should be framed by firstly classifying the accounts to personal A/c,Real A/c or Nominal A/c and then applying the golden rules as applicale............
CA Sanjay Bag
(CHARTERED ACCOUNTANT)
(3340 Points)
Replied 21 August 2012
Prithis love the subject, try to understand the logic and follow the rules said by mrudula everything will be fine. Tell your self you are good in journal entry.
know your self
(knowledge is power of student)
(98 Points)
Replied 22 August 2012
just try to under stand entries for this plz refer accounting equation
I thing so it will more helpful to you.
follow this
1. Assets,expences =>if increases--dr. if decreases--cr.
2. liabilitues, capital, revenue =>if increases--cr. if decreases--dr.
CA Ayush Agarwal
(Kolkata-Pune-Mumbai)
(27186 Points)
Replied 22 August 2012
Yes, Go For This Written by Know UR Self
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