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Novels listed at @CAClubIndia @GuruWithGuitar and #10Alone by @SrishtiPub @AuthorsOwn #CharteredAccountant

Novels listed at @CAClubIndia @GuruWithGuitar and #10Alone by @SrishtiPub @AuthorsOwn #CharteredAccountant

Thanks to CAClubIndia.com for this pleasant surprise. They are India's biggest portal for professional, with more than 1.5 mil...

3 Principles of Life decoded by a Chartered Accountant from 3 Accounting Principles @CAClubIndia

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<span style="font-size: 14px; text-indent: 0in;">I was thinking about life and tried to understand it. No one actually could, nor was I, hence, LOST. </span><br />
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<span style="font-size: 14px; text-indent: 0in;">I got back to work, the endless accounting work.</span><br />
<span style="font-size: 14px; text-indent: 0in;"><br /></span> <span style="font-size: 14px; text-indent: 0in;">One thing struck my mind immediately, while I was preparing financials. </span><br />
<span style="font-size: 14px; text-indent: 0in;"><br /></span> <span style="font-size: 14px; text-indent: 0in;">What is Accounting?</span><br />
<span style="font-size: 14px; text-indent: 0in;">The answer was; "It is the philosophy based on three accounting principles."</span><br />
<span style="font-size: 14px; text-indent: 0in;"><br /></span> <span style="font-size: 14px; text-indent: 0in;">Eyes glittered with joy, "If life was accounting?" I thought, "</span><span style="font-size: 14px; text-indent: 0in;">Let's apply these principles to life."</span><br />
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<span style="font-size: 14px; text-indent: 0in;">After an hour, I came out </span><span style="font-size: 14px; text-indent: 0in;">smiling, </span><span style="font-size: 14px; text-indent: 0in;">from the tornado of entangled life.</span><br />
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<span style="font-size: 14px; text-indent: 0in;">I was </span><span style="font-size: 14px; text-indent: 0in;">amazed at the results I got. </span><span style="font-size: 14px; text-indent: 0in;">I would like to share them with you.</span><br />
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<span style="font-size: 14px; text-indent: 0in;">Basically, the three principles of Accounting divide all the journal entries into three categories; Personal, Nominal, and Real.</span><br />
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<span style="font-size: 14px; text-indent: 0in;">These entries are noted in everyone's own accounting books. Same ways life is also based on entries of give and take that are recorded somewhere.</span></div>
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<span style="font-size: 14px; text-indent: 0in;">Here is the application of each principle of accounting to life:</span></div>
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<tr><td class="tr-caption" style="font-size: 12.8000001907349px;"><a href="http://www.vikrmn.com/" target="_blank">3_Principles_of_Life_3_Accounting_Principles_quote_vikrmn_author_ca_verma_10alone_kuwait_chartered_accountant</a><br />
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<span style="font-size: 14px; text-indent: 0in;"><b><u>1. Real:</u></b></span></div>
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<span style="font-size: 14px;">The first principle is based on real things. </span><span style="font-size: 14px; text-indent: 0in;">It's about things, based on just one question, that is "WHAT?"</span><br />
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<span style="font-size: 14px;">They say, "Things come, things go; Money is a matter of to and fro."</span><br />
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<span style="font-size: 14px;">So, the rule is applied as follows:</span><br />
<span style="font-size: 14px;"><b><i>Debit what comes in; </i></b></span></div>
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<span style="font-size: 14px;"><b><i>Credit what goes out.</i></b></span></div>
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<span style="font-size: 14px;">i.e. If you get something debit it; if you give something credit that.</span><br />
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<span style="font-size: 14px;">e.g. if you buy a car by paying money, then Car comes in, Money goes out.</span><br />
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<span style="font-size: 14px;">So, in your books, entry would be..</span><br />
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<span style="font-size: 14px;">Debit Car account (<i>what comes in</i>);</span><br />
<span style="font-size: 14px;">Credit Money account (<i>what goes out</i>).</span></div>
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<b style="font-size: 14px; text-indent: 0in;"><i>Now, applying it to Life:</i></b></div>
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<span style="font-size: 14px;">e.g. if you get immense Love from someone, give your heart to that person.</span></div>
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<span style="font-size: 14px;"><b><i>Debit the love; </i></b></span></div>
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<span style="font-size: 14px;"><b><i>Credit the heart.</i></b></span></div>
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<span style="font-size: 14px; text-indent: 0in;"><i>so, <a href="http://www.vikrmn.com/" target="_blank">When someone brings LOVE in your life, Give your HEART to that person.</a></i></span></div>
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<span style="font-size: 14px; text-indent: 0in;"><b><u><br /></u></b></span></div>
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<span style="font-size: 14px; text-indent: 0in;"><b><u>2. Personal:</u></b></span></div>
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<span style="font-size: 14px;"><br /></span>
<span style="font-size: 14px;">The second principle is about persons. It's about people, based on just one question, that is "WHO?"</span><br />
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<span style="font-size: 14px;"></span><br />
<span style="font-size: 14px;">So, the rule is applied as follows:</span><br />
<span style="font-size: 14px;"><b><i>Debit The receiver; </i></b></span></div>
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<span style="font-size: 14px;"><b><i>Credit The giver.</i></b></span></div>
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<span style="font-size: 14px;">i.e If you receive something Debit the person who receives it and Credit the one who gives.</span><br />
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<span style="font-size: 14px;">e.g. if you buy a car on installments, then Car comes in, Seller is the creditor.</span><br />
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<span style="font-size: 14px;">So, in your books, the entry would be..</span><br />
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<span style="font-size: 14px;">Debit Car account (<i>what comes is, Rule 1</i>);</span><br />
<span style="font-size: 14px;">Credit Seller's account. (<i>the giver, Rule 2</i>).</span><br />
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<span style="font-size: 14px;">And, in the books of seller..</span><br />
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<span style="font-size: 14px;">Debit Buyer's account (<i>the receiver, Rule 2</i>);</span><br />
<span style="font-size: 14px;">Credit Car / Sales account. (<i>what goes out, Rule 1</i>).</span><br />
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<b style="font-size: 14px; text-indent: 0in;"><i>Now, applying it to Life:</i></b></div>
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<span style="font-size: 14px;">e.g. if you get happiness from someone then:</span></div>
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<span style="font-size: 14px;">The receiver of </span><span style="font-size: 14px; text-indent: 0in;">happiness is indebted;</span></div>
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<span style="font-size: 14px; text-indent: 0in;">so give the Credit to the Giver, in form of regards.</span></div>
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<span style="font-size: 14px; text-indent: 0in;">Debit Happiness;</span><br />
<span style="font-size: 14px; text-indent: 0in;">Credit Someone.</span><br />
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<span style="font-size: 14px; text-indent: 0in;"><a href="http://www.vikrmn.com/" target="_blank">You get HAPPINESS when you HELP someone.</a></span></div>
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<span style="font-size: 14px; text-indent: 0in;"><b><u>3. Nominal:</u></b></span></div>
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<span style="font-size: 14px;">The third principle is for recording profits and losses. </span><span style="font-size: 14px; text-indent: 0in;">It's about non-existing things, that happen due to Real things, based on just one question, that is "HOW?"</span><br />
<span style="font-size: 14px;"><br /></span>
<span style="font-size: 14px;">So, the rule is applied as follows:</span><br />
<span style="font-size: 14px;"><b><i>Debit the Expense; </i></b></span></div>
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<span style="font-size: 14px;"><b><i>Credit the Income.</i></b></span></div>
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<span style="font-size: 14px;"></span><br /></div>
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<span style="font-size: 14px;">i.e. If you spend, debit it; if you earn, credit that.</span><br />
<span style="font-size: 14px;"><br /></span>
<span style="font-size: 14px;">e.g. if you get a car on rent then, in your books, you'll write:</span><br />
<span style="font-size: 14px;"><br /></span>
<span style="font-size: 14px;">Debit the Rent (<i>the expense, Rule 3</i>);</span><br />
<span style="font-size: 14px;">Credit the Owner (<i>the giver, Rule 2</i>).</span></div>
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<span style="font-size: 14px;"><br /></span></div>
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<span style="font-size: 14px;"><b style="text-indent: 0in;"><i>Now, applying it to Life:</i></b></span></div>
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<span style="font-size: 14px;">e.g. if someone shows courage, that person gets respect in return.</span></div>
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<span style="font-size: 14px;">Debit the courage;</span><br />
<span style="font-size: 14px;">Credit The respect.</span></div>
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<a href="http://www.vikrmn.com/" target="_blank"><span style="font-size: 14px; text-indent: 0in;">COURAGE is the only currency, more you spend, richer you become, by earning the </span><span style="font-size: 14px; text-indent: 0in;">RESPECT.</span></a></div>
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<span style="text-indent: 0in;"><br /></span> <span style="text-indent: 0in;">Apply* these rules and see the change. Cheers. <a href="http://www.vikrmn.com/" target="_blank">Vikrmn:</a></span><br />
<span style="text-indent: 0in;"><br /></span> <span style="text-indent: 0in;"><i>* Conditions Apply ;)</i></span><br />
<span style="text-indent: 0in;"><br />Posted by </span><a href="http://vikrmn.com/" style="text-indent: 0in;" target="_blank">Vikrmn:</a><span style="text-indent: 0in;"> Author of "</span><a href="http://10alone.com/" style="text-indent: 0in;" target="_blank">10 Alone</a><span style="text-indent: 0in;">" (CA Vikram Verma) </span><a href="http://10alone.com/" style="text-indent: 0in;">10Alone.com</a></div>
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3 Principles of Life decoded by a Chartered Accountant from 3 Accounting Principles @CAClubIndia

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Sunday is made in China #funnyquote #vikrmn

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Sometimes I think Sundays are made in China. They don't last very long.</div>
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<tr><td style="text-align: center;"><a href="http://www.vikrmn.com/" style="margin-left: auto; margin-right: auto;" target="_blank"><img alt="Sunday is made in China #funnyquote #vikrmn CA Vikram Verma author 10 Alone Chartered Accountant" border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgx8SM9FtErfXVFtnFksiQYGRNb80BuY8LxhEVZ3IbrXj1c3XMXsPADW5-odxjvfz9HWHcd2t7nwfsKCaVy7nLRbB-i3G-wXI3sLt_EWjQ0yljiCCTSGT-axq4qCU6UjbVxIvdSM5g3LAAl/s640/IMG-20140825-WA0000.jpg" title="Sunday is made in China #funnyquote #vikrmn CA Vikram Verma author 10 Alone Chartered Accountant" /></a></td></tr>
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Sunday is made in China #funnyquote #vikrmn

Sometimes I think Sundays are made in China. They don't last very long. Sunday is made in China #funnyquote #vikrmn

Novels listed at @CAClubIndia @GuruWithGuitar and #10Alone by @SrishtiPub @AuthorsOwn #CharteredAccountant

3 Principles of Life decoded by a Chartered Accountant from 3 Accounting Principles @CAClubIndia

Check who is the Featured Member of @CAClubIndia on #CADay 01 July #Thanksgiving #RT

Sunday is made in China #funnyquote #vikrmn

10 Life changing quotes from "Guru with Guitar"

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