Saturday, August 6, 2011

Defination of accounting

Simply accounting is the language of  business .
 first we will study types of accounts
there are five types of accounts
1) Capital
It mean total invesment made by owners
2)  Liabilities
It mean loan , debt and financial obligation
3) Assets
Property of Business and meterial and every thing to run business
4) Income/ revenue
Money earned by business
5) Expences
 Died money , selery  fuel 

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