"ACCOUNTS BASICSACCOUNT:-Accounts is a summarized Statement of debit and credit. There are two parts of EveryAccount..The Left hand side of the part is called Debit side…And the Right hand side and part is known as credit side…ACCOUNTING DEFINITION:-Accountancy is an Art of classifying, Analyzing, Recording and summarizing at least part ofthe available financial information for the purpose of passing on the results of these exercisesto the business Managers and to the Management.TRANSACTION:- EventREAL WORLD BUSINESS SCNERAIO: ? We can say general Business scenario now a days Android mobiles arepopular…more features more entertainment…so youngsters interested to visit Mobilestores…in .Mobile stores salesman are avail …youngsters select Android device Askit the features of Android mobile devices …salesman to tell Advance features of latestAndroid device ….Now Google launches latest version operating system softwareoreo 8.0…seller to tell main features of Android software …youngsters AttractGoogle Andoid oreo 8.0 features interested to purchase …? In this real world example two parties are involved buyer and seller….? Youngster plays a buyer role to purchase android device to give money to seller herepurchase Transaction Happens….Cash goes out youngster hand ...youngster toreceive android product ….Through cash…? Mobile Stores salesman plays a seller role salesman to receive money …cash comesin….salesman hand …product goes out salesman hand..Short way explanation:Acounts having Golden Principles:1.Real Account : Debit What Comes In Credit What Goes OutEx:-Above Real world Business Scenario Example Applied in This Real AccountPrinciple….youngster end cash goes out Google Android 8.0 product received …cash treated in credit…basis. Salesman to sell Google Android 8.0 oreo.. product goesout…cash comes in …hear salesman end cash treated in debit basisENTRY:-Recording of a business Transaction in any books of accounting is called entry..Entry:--Google Android oreo 8.0 Mobile A/C Dr To Cash A/c (Being Google Android Oreo 8.0 Mobile Device purchase Through Cash…)2. Nominal Account:All exp loses credit all incomes and gainsHere Employees salary Example suitable This Scenario…TCS employees got salaryfromHDFC bank….Ex:--SALARIES A/C DR TO HDFC BANK(Being Tcs Employees Received Salary ThroughCheque)3. Personal Account: Debit the receiver credit the giver "