Classification of Accounts Assignment Help

Reduce Your Academic Pressure with Classification of Accounts Assignment Help

Pressurein academic life is a common scenario which you have to deal with every day. And topics in accountancy only add to it. Categories of accounts are one such topic where students have to search a lot to get proper information related to it. In order to reduce that pressure from your shoulders, 24x7assignmenthelp.com presents you classification of accounts assignment help service. We provide you appropriate and accurate information so that you have less academic burden and utilize your time for other purposes.

What does classification of accountsmean?

There are numerous transactions which take place on a daily basis in business. With the help of classification of accounts, a company can maintain records of all those transactions. Information regarding,

  • Credit and debit of a company
  • Equities
  • Asset
  • Equityholder and much more can be kept in organized form.

With the help of our classification of accounts homework help service; you can easily understand the workings of these accounts.

Why are different accounts required?

Every company hires efficient accountants for themselves who can keep records of all their business transactions. These accountants make sure that all transaction details are noted in thebook of accounts. Wages of employees, funds used in business dealings, extra expenses, debt amount; these are few type of expenditures which cannot be merged with each other.

So, every type of transactions cannot be recorded in one book of accounts.Therefore, the requirement of so many different accounts. This is just one of the many reasons related to the requirement of various accounts. You will find more of such reasons are relayed in our classification of accounts homework help service.

What are the various types of accounts?

As per classification of accounts, there are mainly 3 types of accounts.

  • Nominal accounts
  • Real accounts
  • Personal accounts

These accounts then are again divided into more sub-divisions. In case of personal accounts, this accountis divided into 3 more categories. These are:

Personal accounts

  1. Artificial person’s account
  2. Actual or natural person’s account
  3. Representative person’s account

Again under representative person’s account, you will find another subdivision.

Representative person’s account

  1. Advance expense account
  2. Advance income account
  3. Outstanding expense account
  4. Outstandingincome account

It is via classification of accounts assignment help service from 24x7assignmenthelp.com; we make sure that allthese account types are well explained with proper examples.

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There is a vast difference between knowing what your topic is and understanding all about it. If you do not have a proper comprehension of accounts, provided information will also not be any use to you. We make sure that you are provided with correct subject information in such a way that you concept becomes clear, and that can come to your help in achieving excellent GPA score.

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Our classification of accounts assignment help service is a perfect representation of what these accounts are and how these are important to an organization. Seek our guidance and see superb grades.

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