[Brian]

Seems like on every section, they are throwing this in more and more. Any advice on how to practice these? What products that will make me come up with the debits and credits from scratch?

[Anonymous]

I really miss the debits and credits in FAR. I am finding the REG TBS to be extremely difficult because there are no such thing as debits and credits to keep track of the transaction and to balance the accounts.

Just keep practicing and debits and credits usually will click.

Goodluck my friend.

[jenpen]

Go back to T accounts if that helps. But I agree with Blue Collar – keep at them until they click. It will happen.

AUD - 56 - 68 - 61 - 9/8/16
REG - 75
FAR - 7/15/16
BEC - TBD

Wiley CPAexcel and NINJA 10 Point Combo

[Mike J]

@brianeddy099,

You have to approach this exam the right way. Just take a step back when you're stumped and just think about what you're being asked to do.

This is especially true when using debits and credits. You have to know COLD, without thinking about it whether a given account has a normal debit or credit balance. Or, how do you increase or decrease (e.g.) cash?

So think if the question is telling you to expense something–that's probably a debit to () expense. If you're accruing something, you will probably credit something. Are you paying cash (credit) or receiving cash (debit)?

Use the debits and credits to solve for x. Start with whats easiest. Often the calculations themselves are simple. But you need to setup the entry.

Ohh, and if you have to REtire something, think REverse. Think of what the normal entry would be (e.g. issue stock) and reverse it.

I hope that helps.

[Author]

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