The rules of debit and credit under the Traditional approach are golden rules. Let us now understand them and how the accounts are classified.
Classification of Accounts:
1. Personal accounts
2. Impersonal accounts
Posted ByAdmin |
CategoryAccounts,CBSE Class 11 |
Here we are giving the Schedule III of Companies Act 2013 which guides the format of financial statements i.e. Balance Sheet, P&L Account and Notes to Account. This schedule is applicable from the November 2015 exams onward. From exam point of view this update is really important.
Create Your Account: for every upcoming exam by clicking at the link "If you are a new user, please click here" (The users who had created login account for any previous exams will have to re-create the account) and authenticating your Student Registration Number (eg: NRO0123456) with your date of birth, your VALID email-id and mobile number. (In Case your Name is not displayed on entering the registration number and Date of Birth, you can still create the login as a PROVISIONAL CANDIDATE by providing correct particulars. You must submit the copy of registration letter and other relevant documents with your application form in case your login is created as Provisional Candidate