Types of Accounts and Golden Rules | Accounting Basics Explained | Prayug
Автор: Prayug Unit of Stuvalley
Загружено: 2026-02-22
Просмотров: 3
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In this video, you will learn about the Types of Accounts in Accounting and their Golden Rules in a simple and easy way.
Understanding these three types of accounts is very important for passing journal entries correctly.
📌 3 Types of Accounts:
1️⃣ Real Account
Deals with assets and property.
📖 Rule: Debit what comes in, Credit what goes out.
Examples: Cash Account, Machinery Account, Building Account
2️⃣ Personal Account
Deals with individuals, companies, and institutions.
📖 Rule: Debit the Receiver, Credit the Giver.
Examples: Ram’s Account, Bank Account, XYZ Ltd.
3️⃣ Nominal Account
Deals with expenses, losses, incomes, and gains.
📖 Rule: Debit all Expenses & Losses, Credit all Incomes & Gains.
Examples: Salary Account, Rent Account, Interest Received
🎯 What You Will Learn:
Meaning of Each Type of Account
Golden Rules of Accounting
Practical Journal Entry Examples
Easy Trick to Remember the Rules
📚 This Video is Perfect For:
Class 11 & 12 Commerce Students
B.Com Students
Accounting Beginners
Competitive Exam Aspirants
By the end of this video, you will clearly understand all three types of accounts and their golden rules.
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