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Golden Rules of Accounting

The document outlines the golden rules of accounting for three main types of accounts - personal, real, and nominal. For personal accounts, debits represent the receiver and credits represent the giver. For real accounts, debits represent what comes in and credits represent what goes out. For nominal accounts, debits represent all losses and expenses, while credits represent all incomes and gains.

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83 views1 page

Golden Rules of Accounting

The document outlines the golden rules of accounting for three main types of accounts - personal, real, and nominal. For personal accounts, debits represent the receiver and credits represent the giver. For real accounts, debits represent what comes in and credits represent what goes out. For nominal accounts, debits represent all losses and expenses, while credits represent all incomes and gains.

Uploaded by

si ran
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Golden Rules of Accounting

Type of
Debit Credit
Account ↓

Personal The Receiver The Giver

Real What Comes In What Goes Out

All Losses and


Nominal All Incomes and Gains
Expenses

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