Double Entry Accounting

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Double entry accounting.

This little video will give you a cameo view of double entry accounting.

Have you ever wondered about debits and credits?
I'll help you get a basic understanding about them here.

One of the best ways to understand them is to understand the rules of accounting.
You'll see a table that you can memorize and this totally summarizes the rules of double entry accounting.

Discover where the expressions "In the black" and "In the red" came from.

The basic Accounting Equation is explained
Assets - Liabilities = Equity
Income - Expenses = Net Profit (Loss)
Equity = Capital + Retained Earnings (Losses) + Current Profit (Loss)

Discover double entry accounting here and visit my other YouTube contributions.

Visit my YouTube channel here: http://www.youtube.com/profitrain

Category:

Education

Tags:

• double entry accounting
• debits
• debit
• credit
• credits
• assets
• liabilities
• liability
• equity
• income
• expenses
• Debits And Credits
• Pacioli
• ProfiTrain

[profitrain]

"Trick to remember debits and credits"  look for this video. There should be a link above as I used this video as a response.

[dancingdorris1]

I wish I was an aussie