I want to start learning accounting ...

Waku39 (Sales man) (61 Points)

01 November 2020

Where do i start ?

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8 Replies

Waku39 (Sales man) (61 Points)
Replied 01 November 2020

Thanks for the reply .Yes i will watch your videos

I still don't understand the meaning of debit and credit properly

These are my notes

First it starts with entries

Then accounting equation and adjustment entries

Then journal

The bank related journal

The ledger

The trial balance

Profit and loss

Balance sheet

Cash flow statement

Fund flow statement

Accounting is the art of recording a companies items , amount and parties in a transaction or in an accounting event

When an accounting event happens in a company
Create the records of that companies items , amount and parties .

Why do we do that ?

We do that in order to understand the movement of items , amount and parties in an accounting event

There are many categories of items that move in and out of a business

There are Items of Assets - ( Cash )
There Items of Expense - ( Purchase )
There Items of Income - ( Sales )
There Items of Capital
There Items of Liability

Create the records of of the Items of those category according to the rules of accounting

Because it would be nice to know from a Company point of view ,What items , amount and parties are being debited and credited according to the rules of accounting .

The term debtor and creditor are different from the terms Debit and Credit .

JATINDER KUMAR (Accountant) (3662 Points)
Replied 02 November 2020

Read Class 11 Account Book - T S Grewal

Waku39 (Sales man) (61 Points)
Replied 02 November 2020

Thanks , i will read that book

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William Roberts (2 Points)
Replied 26 January 2022

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Hoa Dao (NV) (29 Points)
Replied 29 March 2022

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Hoa Dao (NV) (29 Points)
Replied 29 March 2022

Your article is very good and useful, thank you for sharing, bk8 hopes that next time you will have more good articles to send to all readers.

Lia Hughes (16 Points)
Replied 31 March 2022

Enroll in the Faculty of Economics, majoring in accounting.
Unfortunately, there is no other way. Of course, you can learn to cut out appendicitis from a textbook, but I'm afraid they won't let you on the operating table.

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shahkar hussain (4 Points)
Replied 01 April 2022

My suggestion would be Mr Dherej Dev . He runs Dev commerce classes. He is Ca final year student his knowledge is fab and gives his best in teaching his students.