Question

what is accounting and what are the rules of accounting

Answer 1

Accounting is a systamatic way of keeping books of accounts
There are two ways to keep book
1) single entry system
2) double entry system
Under single entry system em, usually sole trading and small businessman maintains this kind of books which doesn't need any accounting knowledge
Where double entry system needs training and educational knowledge
Debit and Credit are the two factors which are taken into consideration under double entry system
If you pass only a credit entry or a debit, it means it is totally wrong

Answer 2

The golden rules of accounting also revolve around debits and credits. Take a look at the three main rules of accounting: Debit the receiver and credit the giver. Debit what comes in and credit what goes out. Debit expenses and losses, credit income and gains.