Accounting is a world of debits and credits. These terms dominate accounting lexicon and represent both a concept and a process. As a concept, it highlights the significance of the two sides of the accounting equation, by setting the foundation for rules that are performed in the actual recording process. All transactions affecting an element of financial statements, regardless of amount, will always involve a debit and a credit.

MAIN PRESENTATION

Click the image below for the main presentation. It will be opened in a separate window. Complete the presentation’s activities and requirements. Completion status is collected, which will be submitted to your organization if requested. After completing the presentation, click the Mark Complete button, above, which will then be active.

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DISCUSSION

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