BOOK KEEPING FORM ONE – CLASSIFICATION ACCOUNTING msomimaktaba, November 11, 2018May 7, 2020 CLASSIFICATION OF ACCOUNTSClassification of AccountsIt is necessary to know the classification of accounts and their treatment in double entry system of accounts. Broadly, the accounts are classified into three categories:Personal accountsImpersonalReal accountsTangible accountsIntangible accountsLet us go through them each of them one by one.Difference between Personal and Impersonal AccountDifferentiate between personal and impersonal accountsThe differences between personal and impersonal accounts can be seen from what is debited and what is credited. In this concept you are going to learn those differences and investigate how they differ.There are two types of accounts. Personal account and impersonal accounts, impersonal accounts is further divided in two groups. They are depicted on the image below.Personal AccountsPersonal accounts deal with accounts relating to individuals, companies, firms and banks. They are further classified into three categories shown below. You will be able to understand them one by one.Natural Personal AccountAn account related to any individual like David, George, Ram, or Shyam is called as a Natural Personal Account.Artificial Personal AccountAn account related to any artificial person like M/s ABC Ltd, M/s General Trading, M/s Reliance Industries, etc., is called as an Artificial Personal Account.Representative Personal AccountRepresentative personal account represents a group of account. If there are a number of accounts of similar nature, it is better to group them like salary payable account, rent payable account, insurance prepaid account, interest receivable account, capital account and drawing account, etc.Example of personal account ALL NOTES FOR ALL SUBJECTS QUICK LINKS:AGRICULTURE O LEVEL PURE MATHEMATICS A LEVELBAM NOTES A LEVELBASIC MATH O LEVELBIOLOGY O/A LEVELBOOK KEEPING O LEVELCHEMISTRY O/A LEVELCIVICS O LEVELCOMPUTER(ICT) O/A LEVELECONOMICS A LEVELENGLISH O/A LEVELCOMMERCE O/A LEVELACCOUNTING A LEVELGENERAL STUDIES NOTESGEOGRAPGY O/A LEVELHISTORY O/A LEVELKISWAHILI O/A LEVELPHYSICS O/A LEVELMOCK EXAMINATION PAPERSNECTA PAST PAPERS Book Keeping Study Notes Form 1 Book Keeping Study Notes Msomi Maktaba All Notes FORM 1Post navigationPrevious postNext postRelated Postswww.ecol.org.ls Lesotho ECOL Results 2024/2025 February 3, 2024www.ecol.org.ls results 2023: jc results 2023 lesotho, ecol results 2023 , lgcse results 2023 pdf. Find the latest updates on Lesotho ECOL results 2023/2024: Students who have appeared to this exam will able check their marks by name & Examination number. Candidates can know the results from its official website as… Read More Form 6 Physics Notes FORM 6 PHYSICS: ELECTROMAGNETISM PART 2 November 6, 2018April 27, 2020 ALL NOTES FOR ALL SUBJECTS QUICK LINKS: AGRICULTURE O LEVEL PURE MATHEMATICS A LEVEL BAM NOTES A LEVEL BASIC MATH O LEVEL BIOLOGY O/A LEVEL BOOK KEEPING O LEVEL CHEMISTRY O/A LEVEL CIVICS O LEVEL COMPUTER(ICT) O/A LEVEL ECONOMICS A LEVEL ENGLISH O/A LEVEL COMMERCE O/A LEVEL ACCOUNTING A… Read More Effortlessly Access And Log Into Aeries Portal: A Step-By-Step Tutorial February 4, 2024Managing student information and keeping track of academic progress can be challenging, especially when you’re dealing with a plethora of data. Aeries Portal is here to save the day! This user-friendly platform allows students, parents, and educators to access important details such as grades, attendance records, and class schedules in… Read More Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment *Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ
www.ecol.org.ls Lesotho ECOL Results 2024/2025 February 3, 2024www.ecol.org.ls results 2023: jc results 2023 lesotho, ecol results 2023 , lgcse results 2023 pdf. Find the latest updates on Lesotho ECOL results 2023/2024: Students who have appeared to this exam will able check their marks by name & Examination number. Candidates can know the results from its official website as… Read More
Form 6 Physics Notes FORM 6 PHYSICS: ELECTROMAGNETISM PART 2 November 6, 2018April 27, 2020 ALL NOTES FOR ALL SUBJECTS QUICK LINKS: AGRICULTURE O LEVEL PURE MATHEMATICS A LEVEL BAM NOTES A LEVEL BASIC MATH O LEVEL BIOLOGY O/A LEVEL BOOK KEEPING O LEVEL CHEMISTRY O/A LEVEL CIVICS O LEVEL COMPUTER(ICT) O/A LEVEL ECONOMICS A LEVEL ENGLISH O/A LEVEL COMMERCE O/A LEVEL ACCOUNTING A… Read More
Effortlessly Access And Log Into Aeries Portal: A Step-By-Step Tutorial February 4, 2024Managing student information and keeping track of academic progress can be challenging, especially when you’re dealing with a plethora of data. Aeries Portal is here to save the day! This user-friendly platform allows students, parents, and educators to access important details such as grades, attendance records, and class schedules in… Read More