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      My first lesson on accounting was from my sister who told me about the 3 golden rules and when my professor taught the same thing in my first day in college, I was very excited as I knew about it already. For all those who know it already and to all the young students who are thinking of taking up accountacy as a course, the 3 basic yet actually golden rules on which accountancy is based are:
      1. For Real accounts - Debit what comes in, Credit what goes out
      2. For Nominal accounts - Debit all expenses and losses, Credit all incomes and gains
      3. For Personal accounts - Debit the receiver of benefit, Credit the giver of benefit.
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