UPSC EPFO Classes | Accounting & Auditing | Class - 5 | UPSC EPFO Exam Preparation 2024 | Civilstap

[@ShashankMani95]

Amazing class mam...aapne baht achhe se sn chij samjhaya..tha k yiu

[@HimanshiRana_1987]

Thanks mam

[@GauravSingh_Rajput0407]

Nice session mam ..thank you

[@GauravSingh_Rajput0407]

Double entry system - Each transaction is recorded with a debit and credit entry to maintain the accounting equation ( assests = liabilities+ equity)

[@ShashankMani95]

6- summarizing transaction

[@ShashankMani95]

5- book of original entry

[@ShashankMani95]

1- journalizing

[@GauravSingh_Rajput0407]

Chronological Order - transaction are recorded in the order they occure, providing a time based record of financial activities.

[@ShashankMani95]

3- chronological order

[@GauravSingh_Rajput0407]

Narrative description - each journa entry includes a brief description or examples of the transaction to provide contexts and clarify.

[@ShashankMani95]

7- Cash Q/c dr.

[@ShashankMani95]

2- Ledger

[@HimanshiRana_1987]

Personal account - these accounts are related to any person, which can be individuals firms, companies, or banks they are further classified in to these categories -
-Natural Personal
- Artificial Personal
- Representative Personal

[@HimanshiRana_1987]

Impersonal Accounts -
Real accounts
Nominal account

[@GauravSingh_Rajput0407]

Date - each entry is dated to ensure that transaction are recorded in the correct period

[@ShashankMani95]

4 - Narrative discription