Golden rule of accounts
What is golden rule of accounts
Dr the Receiver and Cr the Giver >> (Name of individuals, company country etc)
De what comes in CR what goes out (furniture fixture (fixed assets))
Dr the expenses and losses and Cr the income and gains
Personal A/c : Debit the Receiver
Credit the Giver
Real A/c : What Comes in Debit
What Goes out Credit
Nominal A/c : Expenses & Losses are Debit
Incomes & Gains are Credit.
What is a IFA?
an Institute of Finance & Accounts
Institute of Financial Accountants
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