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Basic Accounting Skills: How to Master "Debit and Credit."

tutoring & advice

 with Jay Way

short description:
Understanding "debit and credit" is the key to reading the balance sheet of a business, which essentially tracks all its monetary transactions for further assessment when necessary.
long description:
A balance sheet in accounting is where a business counts both the sources of its money, the "credit," and also the uses of its money, the "debit," in the course of doing business. Every single monetary transaction is accounted for on both the credit side and the debit side to reflect all the money ins and outs, not literally but figurally, as some transactions may involve no cash but nonetheless carry a monetary tag. Money does not show up or disappear without a trace. There will always be the balance between the money sources, the liabilities and equity, and money uses, the assets, including cash holdings. If ever there was an imbalance in the bookkeeping of the balance sheet, there must be mistakes made in recording the debit and the credit of a transaction . And that's why an accountant's ability to master debit and credit is the only way to ensure a balanced balance sheet that in turn mirrors what happened in the reality of the business.

Read the paragraph attentively before meeting with me. What?s in there is the hidden theme behind the familiar accounting phrase, debit and credit. Practicing debiting and crediting to balance the book keeping must be based on the solid understanding of the balance nature in the business reality. I intend to cover both aspects in this lecture.

level of difficulty:
all welcome
minimum class size:
Weekdays after 1:00 pm U.S. Pacific time.
fee comments:
5 one-hour sessions
 session structure





Basic Accounting Skills: How to Master "Debit and Credit."

live session

Understanding "debit and credit" is the key to reading the balance sheet of a business, which essentially tracks all its monetary transactions for further assessment when necessary.

1h 0m

discussion forums: 1

languages: English
fee: 50US$  (500lp)
payment: at booking
delivery method: live online and self-paced

Quick Help

United States

Jay Way

description of :
My academic background includes an engineering degree in my undergraduate and two master degrees in business management later, a MBA in finance and a Master of Accounting. From my own diverse education, I've developed a balanced approach of being both analytical and intuitive to solving uncertain working problems in the real world as a successful financial professional. I have come to realize that learning any subject right from the start can benefit from that same regime too and I intend to show my students how logic and sense can come together to serve one purpose, that is, being able to comprehend a learning subject thoroughly from all aspects.

Teacher's qualifications:
I do financial trading and related business/economic research. I also write intensively, both for my profession and at leisure about many other fun topics outside business and finance. A lot of my writings involve explaining complex subject matters to my readers, be it a financial issue out a research report or otherwise an interesting topic from one of my time-off essays. They in effect become my quasi-teaching undertaking only showcased in written materials. As a teacher if defined as such, my unique ability of explaining complex matters in very simple terms has served my readers well when intended to learn as students.

's preferred teaching style:
My teaching style and methods have everything to do with how I communicate with people. I enjoy interactions with people and am always at ease. I pay the most attention to my counterpart so that we are in tandem all the time. Learning from me will be nothing but a pleasant experience for you. Your having taken in a subject matter fully is going to be the most rewarding to me. That's not a clich? because as I would have enjoyed any other communication with people, I will also be relishing my teaching interaction with you.


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