Accounting Review: The Basics of Debits and Credits
What you'll learn
- Define the accounting terms debit and credit.
- Record business transactions into an accounting ledger represented by t-accounts using debits and credits.
- Identify how a trial balance and the accounting equation provide a framework for companies to prepare financial statements.
- No advanced preparation or prerequisites are required for this course.
In this course we discuss debits and credits, the primary building blocks of accounting and financial statements.
Taught by a two time former Controller and noted accounting professor at Cal Poly San Luis Obispo, this course serves as review for accounting and finance professionals who need to sharpen their fundamental understanding of core accounting concepts and how they translate into the accounting and financial concepts used to run companies.
A brief overview of core financial statements.
How each financial statement has accounts that are used to keep track of all business transactions.
“T-accounts,” debits and credits, and the behavior of those accounts, including recording a variety of transactions into a ledger represented by t-accounts.
Preparation of basic financial statements.
Who this course is for:
- Anyone interested in Accounting, Finance, or related fields.
Illumeo, incorporated in 2009, is revolutionizing the hide-bound world of corporate learning. Illumeo works with corporate professionals and organizations of all sizes to build the skills and capabilities that help everyone be an expert at their job.
Based in Silicon Valley, CA, Illumeo serves thousands of corporations and corporate professionals across Finance, Accounting, Human Resources, Sales and Marketing. The platform offers assessments, industry-benchmarked competency analyses, hundreds of expert-developed courses, collaborative tools, and the ability for companies to self-publish internal courses that promote institutional knowledge retention and dissemination.
Illumeo is the place for expertise management and we are dedicated to the proposition that everyone can be an expert at their job.
Erik is currently an Accounting Professor at California Polytechnic State University in San Luis Obispo. Formerly, Mr. Slayter served as Division Controller for the San Luis Obispo County division of Waste Connections, Inc. (NYSE: WCN). Prior to Mr. Slayter’s work for Waste Connections, he was Controller and MIS Director for Waller Genetics, a leading horticultural research company based in Santa Barbara County, California. Mr. Slayter’s M.B.A. and degree in Accounting were both earned from California Polytechnic State University in San Luis Obispo. Mr. Slayter holds an active Certified Public Accountant license from the State of California. Mr. Slayter serves as founder and President of CCSoccer Corp., a non-profit recreational, adult soccer league.
Professor : Cal Poly San Luis Obispo - [2003-01 to Current]
District Controller : Waste Connections - [2002-10 to 2008-09]
Controller : Waller Genetics - [1997-10 to 2001-09]
Accountant : Shilling & Kenyon Accountants - [1993-10 to 1997-10]
Accountant : KPMG - [1992-06 to 1993-10]
MBA, Business : California Polytechnic State University-San Luis Obispo - [2006 to 2008]
BS, Accounting : California Polytechnic State University-San Luis Obispo - [1988 to 1992]