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Accounting basics - if your journal entries keep coming out wrong, you’re skipping the most important step. And it has nothing to do with debits or credits. #accounting #accountingstudent #accountingmajor #accountingtiktok
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Understanding the Foundations of Accounting: Debit and Credit
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Replying to @April Mills debits and credits are the fundamental building blocks of accounting and one of the most important topics we cover in intro accounting. The key here is that most people initially think that debits and credits mean something they don’t. All that debit means is “left” and credit means “right”. How they affect specific accounts depends on the account TYPE (asset, liability, equity, revenue, expense). Once you are able to classify accounts by their types I think it should he
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