Financial Accounting : Learn the Basics of Debits & Credits

Welcome and thanks for visiting this course!

This course is designed to provide individuals with a comprehensive understanding of the fundamental principles and concepts of accounting, aimed at building a solid foundation in the field.

Do you struggle to create balance sheet or income statement? Do you struggle to understand the different types of GL Accounts and what account to debit or credit in an accounting transaction?

Well, if the answer is yes, then you are at the right place. Starting from the building solid foundation of accounting, which is what this course is about, we will go to the advance accounting throughout my different level of courses.

Throughout this course, you will embark on a journey that covers the essential elements of accounting, enabling you to develop a strong understanding of financial transactions with a detailed explanation of debits and credits, different types of GL Accounts and recognizing them in the financial transactions, and the overall recording and reporting processes. You will explore topics such as the accounting equation, double-entry bookkeeping, the classification and analysis of assets, liabilities, equity, expense and revenue as well as the exceptional introduction of revenue recognition and expense allocation (such as depreciation).

Through a combination of theoretical knowledge and practical examples, you will gain hands-on experience in applying accounting principles to real-world scenarios. You will learn main Accounting Concepts, Principle of Double Entry and applying this to different type of GL Accounts, the application of Debit and Credit on different types of GL Accounts, General Journal, Posting the Journal Entries (Accounting Transaction) to GL Accounts, Balancing of GL Accounts, Subsidiary Books and Trial Balance.

By the end of this course, you will have a strong foundation in accounting, allowing you to confidently navigate the world of financial accounting. Whether you plan to pursue a career in accounting or simply want to improve your accounting literacy, this course will equip you with the necessary skills and knowledge to succeed. Join me and embark on a journey towards accounting proficiency and a solid understanding of accounting basics.

Anyone can learn Accounting!

You can learn accounting if you get the good guidance and the right reading & practice material. The most efficient way to learn anything is to follow:

1. The right reading material

2. The proper order of learning. There is a lot of information available online, but to learn something new, you always have to start step by step. So, its very important to not overload yourself with too much information, and follow the correct way of learning.

3. The practice exercises. You need to practice as many exercises as you can till you believe that you have learnt and confident enough about the topic learnt

You yourself also have to be curious to know the reason behind the accounting process. Why do we debit, why do credit, and what are the reasons behind it? There are many online reading material available but nobody explains the reason that why do we debit or credit. Why are liabilities considered to be liability? Every question is answered in this course.

To learn fast, you also need to do practical exercises, which you will do in this course!

And I have explained all the practical exercises in detail.

What you’ll learn

1. Important Accounting Concepts

2. What is a Business Transaction? And what type of business transaction is recorded in the books of accounting?

3. What is General Ledger Account? And what are different types of GL Accounts? How to balance General Ledger Account.

4. Principle of Double Entry and the application of Debits and Credits

5. Create Accounting Transactions by yourself and post to different General Ledger Accounts.

6. Trial Balance. And why is it important?

Are there any course requirements or prerequisites?

There are no prerequisites to this course.

Who this course is for:

1. Accounting Students for whom this course will act as a supplement to their studies, who want to clear their accounting basics, and you can expect more class participation

2. Working Professionals who wants to learn accounting or want to make their accounting basics strong

3. Business Owners who want to learn the accounting basics and how it can help in applying accounting logics in real time. And help them to maintain their accounting books