Debits and Credits - Accounting

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Author:

Peter Baskerville

Subject:

Business

Institution Name:

Connexions

Collection:

Connexions

Grade Level:

Post-secondary

Abstract:

The difficulty with accounting has less to do with the math, as it does with its concepts. Now, there is no more difficult yet vital concept to understand than that of Debits and Credits. Debits and Credits are at the very heart of the 'double entry bookkeeping' that has been the foundation stone on which the financial world's accounting system has been built for well over 500 years.

Now, given the length of time, is it any wonder that confusion has surrounded the concept of Debits and Credits as the English language and its laws have morphed to bring new definitions for two words that in the accounting world have their own very special significance and meaning. In this session we will look into the meaning and application of this vital area of bookkeeping and accounting.

Course Type:

Learning Module

Languages:

English

Material Type:

Readings

Media Format:

Text/HTML, Downloadable docs

Conditions of Use:

Creative Commons Attribution 3.0