12 37 This preview shows page 1 - 4 out of 10 pages. endobj 0000005962 00000 n Types of Accounts.pdf - Types of Accounts Personal Account Personal accounts are accounts relating to persons or organisations with whom the business, - It is the system in which only one aspect of each, transaction is recorded. Banks have two basic types of account: • Current accounts • Savings accounts Each bank may have its own names for accounts within these two types, but the basic points remain the same. trailer 12 0 obj <> endobj Personal Accounts; Real Accounts; Nominal Accounts; Personal Accounts.
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0000006641 00000 n personal, real and nominal. 0000002877 00000 n 0000008927 00000 n Accounting Services Handbook Types of Accounts 2 | Page Subsidiary Ledger Accounts are made up of 6 digits and always begin with a nonzero number. DIPLOMA IN INSURANCE SERVICES MODULE - 1 Notes Basic Accounting Principles Business Environment 62 5.1 OBJECTIVES At the end of this lesson you will be able z To maintain the books of accounts z To prepare the annual accounts 5.2 ACCOUNTING CYCLE After … 0000007390 00000 n relating to all the accounts i.e. 5000/-. Total … dJ��yKkכ�U���� types of accounting are examined in the following paragraphs. <>>> The different types of bank account This is quick and easy advice about the different types of bank account. 0000003878 00000 n D�gTd�^0Gݏ*"��j1l��F�a��ߕ�0����F Course Hero is not sponsored or endorsed by any college or university. 0000083440 00000 n endobj �͛�o�/�bQe�}u�;�m�����������Tm�Jy�uě|��-A���T��H�2���}q�2h�|yej�Ҙ�0F�};�4Y�~� ����b��蓇z T��D
11-09-2017 Types of Accounts Personal Account: Personal accounts are accounts relating to Six types of accounts are used in financial accounting, which are asset, liability, expense, …
�%�~s?�h`��Ӱ(L��[��K����|��t��SH��WB�"�ڂ�*I�o���]�$Ĝ.��� ?�DݕOUP]�MG��$:�r�qPDP�A{H(���ȥo��)���_ҳ�9�����XA��(��_����PeˀO?��-�y�5�����>�dl\���f=�$D 0000003581 00000 n Personal accounts itself refer to a name of person and it represents an Individual or Company or any Organization. 0000003327 00000 n 0 %PDF-1.4 %���� In this system only transaction relating to personal, accounts are recorded whereas transactions relating to real & nominal accounts, are ignored. �T�Ne�����ca��v�;�aӑ�.��߰"}���-���G7�\��� 0000001727 00000 n For this account, overdraft facility will be provided up to Rs. 0000083690 00000 n b) Basic Saving bank Deposit Accounts Small scheme (BSBDS) These are accounts with relaxed KYC, with a minimum document requirement of self-attested address proof & photograph. 1 0 obj 2 0 obj Types of Accounts. Everything in financial world can be categorized in 5 accounts: International Financial Reporting Standards. E.g. 0000035927 00000 n A few examples of personal accounts include debtors, creditors, banks, outstanding/prepaid accounts, accounts of credit customers, accounts of goods suppliers, capital, drawings, etc.Natural personal accounts: This type of personal accounts is the simplest to understand out of all and includes all of God’s creations who have the ability to deal, who, in most cases, are people.
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� ��lg�~�����4NG1��5��*�O�=oS 0000084013 00000 n The debit and credit accounts rules are based on three types of rules, which are also called as types of accounts in accounting.The different account types are. The first digit of the SL account represents the fund group, just like the second number in the corresponding GL �R�d.�Rr��)�H��*ͥz.-�.a�]���+��Sh��D��(������!�ܖ�����*(,�������7"�W�8_����4�6ͱ#�O�_�t7��#>�26�J��B�qoKa*ƴ��@m�v���ŢֶM�!u���៓�Ο�t��Y���S�Rqt���)�Zq#KC��5c[���Q. 0000001862 00000 n 0000008172 00000 n CFI's Principles of Accounting book is free, available for anyone to download as a PDF. 1.5.1 Financial accounting As mentioned earlier, financial accounting deals with the preparation of financial statements for the basic purpose of providing information to various interested groups like creditors, banks, shareholders, financial institutions, government, consumers, etc. 0000020698 00000 n 3 0 obj x�b```f``�f`e``�dd@ A�+����E�. debit as, well as credit are recorded in the books of accounts .It records transactions. 0000044739 00000 n endobj 0000004126 00000 n stream %PDF-1.5
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e.g., trade creditor, accounts payable.
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Birla Institute of Technology & Science, Pilani - Dubai, 4.practice-quiz_measuring-risk_answer-key(1), 9.practice-quiz_Measuring-expected-portfolio-return_answer-key, b343cfbe89e4432512126a893b90e802_f6a016c08eca8931c9a3f67eb3fc124f.xlsx, Birla Institute of Technology & Science, Pilani - Dubai • FINANCE ECON F211, Birla Institute of Technology & Science, Pilani - Hyderabad, BCom Course Strucure & Syllabi - BIT Offshore Campus RAK (1).docx, Consolidation of Financial Statements.docx, Birla Institute of Technology & Science, Pilani - Dubai • ECONOMICS econ f211, Birla Institute of Technology & Science, Pilani - Hyderabad • ECON f211. 0000005154 00000 n 0000002250 00000 n Read about bookkeeping, accounting principles, financial statements, with 66 pages of lessons and tutorials. There are a many different bank accounts available and some words to get used to. 0000001314 00000 n
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