![]() NOTE: This course is one of a series of courses developed for the Professional Bookkeeping Certification program on Illumeo. ![]() In addition, we examine a few of the many functions the bookkeeper can be involved with as part of their overall responsibilities. This session utilizes multiple examples of how to apply debits and credits within various transactions and entries and provides the participant with a foundation of the concept of how to utilize the double entry bookkeeping system. “A credit is an accounting entry that either increases a liability or equity account, or decreases an asset or expense account.”įollowing is a summary of how debits and credits impact the financial statement accounts It is positioned to the left in an accounting entry.” “A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account. ![]() It is imperative that a bookkeeper have a strong grasp on the utilization of debits and credits. This allows us to delve into examining the concepts of how to utilize debits and credits within financial accounting including assets, liabilities, equity, revenue and expense. We introduce the concepts of single-entry and double entry bookkeeping as well as the accounting equation. This course continues our exploration into the bookkeeping function. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |