1. Double Entry System And It’s Governing Rule

2. ACKNOWLEDGEMENT We are really grateful because we managed to complete our presentation on the topic “Double entry system and it’s governing rule” Mr. Pankaj Gupta In the given time by our teacher “Mr. Pankaj Gupta”. This presentation cannot be completed without the efforts and co-oration of our group members->1.Vanshit Chauhan 2.Harsh goyal 3.Jagroop Singh 4.Shivam Pushkarna 5.Ridhank Yadav 6.Guneet Singh 7.Hritik Goswami 8.Sunny Sherawat. Mr. Pankaj Gupta We also Sincerely thanks to our teacher of accounts Mr. Pankaj Gupta for guidance and support in finishing this assignment and for teaching Us for this. Last but not the least, we would like to gratitude to their family members who allowed us to spent time together for completion of this assignment. And thankful for support and willingness of my team mates.

3. CONTENT:- What is Accounting Types Of Accounts Rules of Debit And Credit in Different Types of Accounts Acknowledgement

4. ACCOUNTS AND THEIR CLASSIFICATION ACCOUNTS AND THEIR CLASSIFICATION Types of Approches Credits

5. WHAT IS ACCOUNTING ? Meaning- It is an art of recording, classifying, summarizing and communicating financial information of users for correct decision making.

6. Defination Defination- Accounting is the process of identifying, measuring and communication of economic information to permit information judgment and decision by users of information.

7. TYPES OF ACCOUNTS Personal Account Natural Artificial Representative Impersonal Account Real Nominal ACCOUNTS

8. PERSONAL ACCOUNT Natural account Records transaction of individual human being Artificial account Accounts which includes corporate bodies or institutions. Representative account Accounts which represents a person or group of persons directly.

9. IMPERSONAL ACCOUNT Real Account Accounts which relate to both tangible and intangible assets of the firm. Nominal Account Accounts which relate to expensis, losses, income and gain.

10. RULES OF DEBIT AND CREDIT IN DIFFERENT TYPES ACCOUNTS Personal Account  Debit-> Receiver  Credit->Giver Real Impersonal Account  Debit->Come in  Credit->Goes out Nominal Impersonal Account  Debit->Expense/loss  Credit->Increase/Gain

11. ACCOUNTS AND THEIR CLASSIFICATION  Account is the individual record of an asset,a liability,a revenue,an expense or capital,in a summarized manner. (Sales,Purchases,cash,Bank,Income,Expense, etc ). It means if need to see the details of purchase or sale I will see the account of sale and purchase. Account are classified into two approaches : On the basis of traditional approach. On the basis of modern approach.

12. TYPES OF APPROCHES  Traditional Approches Personal Real Nominal  Modern Approches Assets Liabilities Capital Expense Revenue

13.  TRADITIONAL APPROACH  Personal Account Debit the account of the person who receive something and credit the account of a person who give something. Ex- Ram Account, Outstanding, Prepaid, Accrued Income etc.  Real Account These are the accounts which relate to both tangible and intangible assets of the firm. Ex-Tangible Assets - Plant, Machine, Land etc. Intangible Assets - Patent, Goodwill etc.  Nominal Account These are the accounts which relate to expenses, losses, gain and income. Ex-Salary Account, Purchase Account, Sale Account etc.

14.  MODERN APPROACH  Assets An assets is any resource owned by business. Ex- Furniture, Stock, Bank etc.  Liability They are defined as companies legal financial debts or obligations that arise during the course of business operations. Ex- Creditor, Outstanding, Bank Overdraft etc.  Capital It is the amount invested by a businessman in the business. It may be in the form of cash or kind.

15.  Revenue It means the income of recurring (regular) nature from any source. It consist of amount receive from sale of goods ad services provided to customer. Ex- Salary Received, Sale of goods etc.  Expenses Cost incurred by a business in the process of earning revenue are known as expenses EX- Cash Payment, Purchase of Material etc.

16. Special Thanks To:- Mr. Pankaj Gupta PPT Made By:- Vanshit Chauhan Harsh Goyal Editing Done By:- Guneet Singh Ridhank Yadav Vanshit Chauhan Ideas Given By:- Jagroop Singh Harsh Goyal Shivam Pushkarna Guneet Singh Most Helpful Person:- Sunny Sherawat Hritik Goswami THANKS TO ALL CREDITS