[Anonymous]

Basic Accounting Concepts 2 – Debits and Credits

I found this this article really interesting. What yours guys thinks?

[Anonymous]

Yes. 7 years ago, when I first started studying accounting, for a couple days I was very confused by Dr/Cr because the only thing I could relate it to was my bank statement.
Debit cards, credit cards… When you buy something, your account is debited. When you get a refund, the funds are credited back. Once I understood the accounting equation,
and that those “banking” things had nothing to do with it, it all made perfect sense. I wish I'd had this video 7 years ago, because I had to ask someone *outside* of Intro Accounting class, to clarify it for me.

Believe it or not, there are people who attempt the CPA exam without knowing debits and credits. They MAY be able to pass AUD and REG without knowing them. BEC, not sure.
FAR, absolutely positively not. Strange people do strange things.

[Skynet]

Doohickies & Cinnabons.

[Author]

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