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CCP102

The document discusses types of accounts used for recording transactions. It defines personal accounts as those related to individuals or companies, real accounts as those related to assets and properties, and nominal accounts as those related to expenses and income. Personal accounts include names of people or organizations, real accounts relate to tangible or intangible assets like machinery or goodwill, and nominal accounts record items like wages, rent, sales or discounts. The document provides examples and details on the different types of accounts to help understand how transactions are recorded.

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34 views

CCP102

The document discusses types of accounts used for recording transactions. It defines personal accounts as those related to individuals or companies, real accounts as those related to assets and properties, and nominal accounts as those related to expenses and income. Personal accounts include names of people or organizations, real accounts relate to tangible or intangible assets like machinery or goodwill, and nominal accounts record items like wages, rent, sales or discounts. The document provides examples and details on the different types of accounts to help understand how transactions are recorded.

Uploaded by

api-3849444
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPT, PDF, TXT or read online on Scribd
You are on page 1/ 13

DEPARTMENT OF TECHNICAL

EDUCATION ANDHRA PRADESH


Name : R. Radha
Designation : Assistant Lecturer
Branch : Commercial and Computer
Practice
Institute : Central Institute of Commerce
Year : I year
Subject : Accountancy
Subject Code : CCP102
Topic : Recording of transactions
Duration : 50 minutes
Sub Topic : Definition of journal & types of
accounts
Teaching Aids : PPT, Animations
CCP102.8 1
Objectives

On completion of this period you would be able to


know

 Types of accounts

CCP102.8 2
Account

An Account is
 Summarised statement

 Containing all transactions

 About a particular subject matter

CCP102.8 3
Performa Of An Account
Dr. Name of the account Cr.
Date L.F. Date L.F.
Particulars Amount Particulars Amount

 It has two sides


Table.2

 Left side is debit side


 Right side is credit side

CCP102.8 4
Types of accounts

Accounts are broadly classified as

 Personal accounts

 Impersonal accounts

CCP102.8 5
Impersonal accounts are sub-divided into

 Real accounts

 Nominal accounts

CCP102.8 6
Personal Accounts

Transactions related to

 Individuals,

 Artificial, legal persons or Companies


Ex: Rama A/c, State Bank of India A/c etc.,

CCP102.8 7
Real account
Transactions related to

 Assets and properties

 Separate account will be opened for every


asset

 They are impersonal, tangible, Intangible


Ex:- Machinery A/c ,Good will, Trade Marks etc.,

CCP102.8 8
Nominal accounts
All transactions relating to

 Expenditure and Income


Ex:- Expenditure
Wages, Salaries, Rent, Rates, Taxes, Insurance
Income:-
Sales, Discount, Received etc.,

CCP102.8 9
Summary

We have learned in this session


 Types of accounts

CCP102.8 10
Frequently Asked Questions
Short Questions

3. What is a Journal
4. List the various Types of Subsidiary Journals

Essay Questions

 Explains in detail Personal , Real, and Nominal


Accounts

CCP102.8 11
Quiz

Fill in the blanks:

• Salaries a/c is nominal a/c


• Prasad & Co. a/c is personal /c
• Cash a/c is real a/c
• Good will a/c is real a/c

CCP102.8 12
CCP102.8 13

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