Management , cash and financial accounting mein difference batao please?

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What is personal Account? Difference between personal and real Account. Related: Basic Accounting Accounts:- It is used to give the information of money which comes in business and go out from business. Accountings:- Accounting is the systematic recording of daily transaction business classification and summarization. Process of Accounting Transaction Recording Classification Summarization Analysis Interpretation Classification of the types of the accounts and rules of debit and cread it. (1) Personal Account:- These Accounts related any person or firm e.g. Accounting for customers, supplier, owners. [Debit the receiver | Cread it giver ] (2) Real Accounts:- These Accounts for fixed and current assets such as cash, building, machinery etc. [Debit comes in | Cread it goes out ]

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Cash basis of accounting is not a better basis for detecting the correct financial position of an enterprise. DO YOU AGREE.?

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4. Vijay, a consultant during the financial year 2012-13 earned Rs.4, 00,000. Out of which he received Rs.3, 50,000. He incurred an expense of Rs.1, 70,000, out of Rs. 40,000 are outstanding. He also received consultancy fee relating to previous year Rs. 45,000 and also paid Rs.20, 000 expenses of the last year. You are required to determine his income for the last year if: i)he follows Cash Basis of Accounting and ii)he follows Accrual Basis of Accounting.?

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What is the major difference between Cash basis of accounting and accrual basis of accounting?

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