What is An Account - Definition - Meaning - Explanation - Examples
An account shows summarized records of a person, artificial persons (Companies or Corporations) or thing. Examples are Mr. A’s account, ABC’s Account, Expense Account, Income Accounts, Liabilities Accounts, Drawings Account, Equity Account, Capital Account, etc. There are Different Kinds / Types of Accounts involved in a Accounting Transaction . These accounts are the 5 pillars of accounting. These are Assets , Liabilities , Equity , Expenses And Revenues / Income . Assets. These five accounts belong to Personal And Impersonal Accounts. Title Left Side Right Side ...