Accounting courses in chandigarh (3)

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Accounting Courses in Chandigarh
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What are the basic principles of accounting?

• Principles of Accounting was often the title of
  the introductory course in accounting. ... In
  this context, principles of accounting refers to
  the broad underlying concepts which guide
  accountants when preparing financial statements.
  Principles of accounting can also mean generally
  accepted accounting principles (GAAP).

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What is an example of a real account?

• Examples of real accounts are
• Cash.
• Accounts receivable.
• Fixed assets.
• Accounts payable.
• Retained earnings.

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What are the basic accounting concepts?

• Basic accounting concepts
• Accruals concept. Revenues are recognized when
  earned, and expenses are recognized when assets
  are consumed. ...
• Conservatism concept. ...
• Consistency concept. ...
• Economic entity concept. ...
• Going concern concept. ...
• Matching concept. ...
• Materiality concept.

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What are the five major types of accounts?

• What you might have figured out is that there are
  5 main types of accounts used in accounting
• Asset.
• Liability.
• Equity.
• Revenue.
• Expense.

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What is a normal account?

• The debit or credit balance that would be
  expected in a specific account in the general
  ledger. For example, asset accounts and expense
  accounts normally have debit balances. Revenues,
  liabilities, and stockholders' equity accounts
  normally have credit balances.

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Accounting Courses in Chandigarh
CBitss Technologies

• 09988741983,0172-5031983
• counselor.cbitss_at_gmail.com

Website http//cbitss.co.in/accounting-courses-i
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