Accounting Lecture 01 - Basic Debit and Credit Concepts

Before explaining, basic debit and credit concepts, I want to tell, why am I telling it first accounting lecture. I have made lots of accounting lectures before this lecture but Actually, this is my first high quality video lecture on accounting topic. Yesterday, I hired an professional Videographer whose video quality is 10 times more than my video. So, as demo, I have made this video, I hope, you will like and share this video.

Now, come to the topic,

Debit and credit's knowledge is the main for learning accounting. If you want to become accountant and works in the field of accounting, auditing, financing, you need to learn debit and credit. Every company records their transactions, accountant first understands every transaction on the basis of debit and credit rules. Then, he passes the journal entry on these rules. So, we are explaining these rules.

Debit Rules : 

1. Increase in the asset will be debit

2. Decrease in the liability will be debit.

3. All expenses and losses will be debit.

Credit Rule 

1. Increase in the liability will be credit.

2. Decrease in the asset will be credit.

3. All incomes will be credit.

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Accounting Education: Accounting Lecture 01 - Basic Debit and Credit Concepts
Accounting Lecture 01 - Basic Debit and Credit Concepts
Accounting Education
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