Bookkeeping Basics #2: Understand The Mechanics
What you'll learn
- 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.
Requirements
- As long as you know how to add and subtract (or can use a calculator!), you're ready to begin!
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"
Who this course is for:
- This course is designed for both new and established small business owners and managers who may be strong in their own fields but want a better understanding of the basic concepts of tracking their company finances as well as students beginning the journey of learning bookkeeping.
Course content
Introductions!4 lectures • 19min
- Course OverviewPreview03:57
- Meet the Instructor and ResourcesPreview05:08
- The Set Up of the CoursePreview05:00
- Accounting is a Process05:18
Let's Learn Debits and Credits13 lectures • 1hr 23min
Accounting Is A Cycle4 lectures • 21min
Adjusting In The Cycle9 lectures • 48min
Closing Up The Cycle6 lectures • 23min
So Now What?1 lecture • 2min
Instructor
![Ron Trucks](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 64 64"%3E%3C/svg%3E){kind=avatar}
- 4.6 Instructor Rating
- 2,646 Reviews
- 12,714 Students
- 4 Courses
Over 25 years ago, after building his experience in the hospitality industry and working with many business start-ups, Ron Trucks founded his privately owned firm guiding and coaching small businesses and non-profit organizations in a wide variety of fields and industries both in his home town of St. Louis, MO and across the country.
In addition to his professional work in small-business support, Ron has also been an Business Management adjunct instructor at Jefferson College in Hillsboro, MO for over 10 years.
Over those two decades of both teaching and coaching small businesses and non-profit organizations, Ron has served on various boards and in many volunteer positions including the Board of Directors of a $300 million dollar credit union, developing leadership skills with members of national fraternities and sororities, and working with troubled youth dealing with identity and self-confidence issues.