00:01
Okay, so we are going to understand the meaning of permanent or real account.
00:14
Okay.
00:17
So there are actually three types of accounts in accounting as a subject.
00:21
Real account, personal account and nominal account.
00:24
However, for the current case, we will understand the real account.
00:30
So it is a type of account which will be never transferred to another account.
01:04
Account and will be carried forward will be carried forward from one financial year to another.
01:46
So it is a type of account which is never transferred to another account.
01:56
First characteristic and important also and will be carried forward always from one year one financial year to another although it seems that first one is most evident however you will understand that carried forward from one financial year to another will be the most important characteristic that will be useful useful for you to identify that which is real account and which is another type of account okay so we will write example also so real account is open or we can say what are the types of or we can say what are the real accounts.
02:39
First of all, fixed a set account when you purchase any type of machinery to produce the products in which the business is dealing, in which the owner is dealing.
02:51
So fixed asset is purchased to produce the relevant goods, required goods.
02:57
Now in that case, you can understand that fixed set once purchased will be used for 10 years, 15 years, 20 years because it is a machinery...