Bookkeeping Basics #2: Understand The Mechanics

  • Course provided by Udemy
  • Study type: Online
  • Starts: Anytime
  • Price: See latest price on Udemy
Udemy

Course Description

Using simple, easy-to-understand discussion, illustrations and note sheets, this focused course with video lessons teaches you the basic understanding of the financial tools "debits" and "credits".

Everyday examples using common phrases and terms you already know allows the instructor to break through the confusion and teach the concept and use of the tools on which everything else in bookkeeping and accounting is built.

After completing the course, students will feel more confident and knowledgeable on topics such as...

  • What's the difference between debits and credits

  • When does each one mean an increase versus a decrease

  • How do they relate to assets, liabilities and equity

  • Also, how do they relate to income and expenses

  • What is a T-Account and how is it used in bookkeeping

  • What is an EASY way to remember when to use "debit" and use "credit"

Expected Outcomes

  1. Understand what "debits" and "credits" actually mean when it comes to bookkeeping and accounting and be able to determine when to use each one when recording transactions.