MBA Finance

There are mainly Two types of accounts:
1. Personal a/c
•Natural Personal a/c
•Artificial P a/c
•Representative P a/c
2. Impersonal a/c
•Real a/c
•Nominal a/c

:
It's mainly applicable to "Fixed assets"
Eg- PP&E(Property, Plant and Equipment) & Cash (though it is a high liquid asset )

:
Here it is applicable to persons, artificial persons and representative persons.
Eg- Hari, Sai, Karthik, Mani, Tata and Sons, Bank acc (HDFC), o/s salary and prepaid expenses etc

:
It is applicable to all Incomes, expenses, Losses and profits(gains)
Eg- Salary paid (N-E) Commission received (N-I) Dividend received (N-G) Depreciation (N-L)

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(Insta page ID)