https://www.youtube .com/watch?v=VhwZ9t2b3Zk
💥Debits and Credits Cheat Sheet → https://accountingstuff.com/shop 🖊Debits and Credits Practice Questions → https://accountingstuff.com/practice-questions Shhh, it’s a secret! Not really.. In this Accounting tutorial you’ll discover the true meaning of Debits and Credits in Accounting. This episode is a continuation of our series exploring Accounting Basics. To see the whole playlist check out the link below. The terms ‘Debit and Credit’ are the bread and butter of Double Entry Bookkeeping and reflect the duality or double-sided nature of all financial transactions. It’s crucial to understand this concept when studying Accounting for Beginners because all transactions generate Credit and Debit entries. At the end of the video, I’ll show you the secret to Debits and Credits which will make remembering which side of the Accounting Equation they fall on a piece of cake! 🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel ⏱️TIMESTAMPS 00:00 – Intro 00:39 – Debit and Credit Misconceptions 00:55 – What are Debits and Credits in Accounting? 01:22 – What is Economic Benefit? 01:48 – Which Accounts are Debits or Credits? 02:35 – Is Equity a Debit or a Credit? 02:46 – The Maths behind Debits and Credits 04:09 – How to Remember Debits and Credits 04:33 – Recap 🔎FAQ ▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m 🔝 CLOUD ACCOUNTING SOFTWARE ▪ QuickBooks Online USA (FREE TRIAL/DISCOUNT) → http://geni.us/jA9N ▪ QuickBooks Online Canada (FREE TRIAL/DISCOUNT) → https://geni.us/bNN7 🚶FOLLOW ME ON ▪ Insta → https://www.instagram.com/accountingstuff ▪ Twitter → https://twitter.com/AccountantStuff 🎬LEARN ACCOUNTING BASICS FOR FREE ▪ The Full Playlist → https://www.youtube.com/playlist?list=PL5zKSeS09l339nB6ujJPQ9Rsv99_b-aTb 🎵MUSIC ▪ Lakey Inspired – Last Night → https://soundcloud.com/lakeyinspired ________________________ DISCLAIMER Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you! ________________________ #accounting #accountingbasics #accountingstuff
In making this video, one of the terms that I found hardest to define is “Economic Benefit”… if you have any alternative definitions to the one I gave I would love to hear it 🙂
You’re literally Awesome bro!!!
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Where from
I got difficult understanding my accounting course in university so I look it up on youtube. Your video is really helpful. Thank you for the explanation!😊
Gosh as a new commer i was struggling to understand these concepts but it all sunk in after 2 minutes of watching this.
Kudos my friend
thank you so much handsome!!! you just saved me
Could you explain about control account? It drives me crazy.
Okay this is actually helpful thank you because my mind was stuck on there being a negative and positive so I couldn’t even begin to grasp the concept of debits and credits
I love your videos, they are helping me a lot. Thank you so much. The only thing about the dealer word that got me a little confused is that from what I know dividends are an equity account right? So technically it should increase on the credit side. I guess I just need to think that dividend is an equity account that is treated differently. Thank you again!
i like ur video editing
I watched this video and understood the glory of accounting.
If you’re having trouble remember which E is which, just make it “Dealor”
Thank you so much
This is treasure
Thanks!
Just wow !
I have been studying accounting for years and it was your videos that help me most!
Pretty handy stuff for a novice like me in Accounting. Nice content I appreciate it bro.
You made it quite easy to understand. Thanks
Please also explain how many types of accounts are there like Real, Nominal and Personal accounts . Thanks for uploading.
Please do more.