00:01
Okay, so let's start our solution, okay, but to know the basis to how to derive the solution.
00:09
First of all, we will understand diamond tools of accounting.
00:13
Okay, that will guide us throughout the accounting subject, that how to record the financial transaction in the books of accounts of the company.
00:25
Okay, these rules are very straightforward.
00:34
So there is no, however, there is no logic behind it.
00:38
However, these are the traditional methods.
00:41
But diamond routes of accounting have been just invented right, let's say five to six years ago.
00:51
So there are five types of accounts and for all of five them, okay, we will record the general entries or we can say financial transactions in the books of accounts following by diamond roots of account.
01:11
Okay, so let's say we have five type of accounts...