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Is Accounting all about Debit/Credit?

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Question ajoutée par Mohammad Ashfaq , Financial Controller , Union COOP
Date de publication: 2013/05/15
Adnan Mustafa
par Adnan Mustafa , Credit Controller , National Refreshment Company LLC

Accounting include summarizing, reporting and decision making.
But information is obtained through basic accounting system, which is double entry system Debit/Credit.

Farhad Ali
par Farhad Ali , Accountant , AL Aaly holding

debit and credit is the basic of accounting.............
if you are talking about the accounting so you have to comply with the international accounting stander and international financial reporting stander as well..............

jasny rodrigues
par jasny rodrigues , Accountant , Cosmos Star Consultants / Nail The Deal

As per my view debit and credit is the foundation for accounting.
The whole of financial statements of any firm or company stands on this fundamentals.

Kamran Muhammad
par Kamran Muhammad , Parts Administrator , Samaco

Debit/Credit are the bricks of accounting.
all accounting structure build with this bricks along with personal skill as cement.

Khaja Moinuddin
par Khaja Moinuddin , Group Assistant Financial Controller , Confidential

In bookkeeping under General Accepted Accounting Principles (GAAP), debit and credit refer to type of account and entries to accounts.
Entries to the left side of the an account are debits (DR), and accounts with left sided balances (asset accounts and expense accounts) are debit accounts.
Entries to the right side of the an account are credits (CR), and accounts with right sided balances (liability accounts, owners' equity accounts, and revenue and profit accounts) are credit accounts.
Understanding debit and credit is essential for bookkeeping and analysis of balance sheets.
You just need to understand that debit and credit are two actions that are opposite in nature.

Abo El Hassan El-Tantawy
par Abo El Hassan El-Tantawy , مدير ادارة الموارد البشرية , أساس للخدمات التعلمية

I think from my personal point of view that if any financial transaction analysis to both sides of the debtor and the creditor will be recorded correctly by one hundred percent

Kripesh Krishnan Kutty Nair
par Kripesh Krishnan Kutty Nair , Merchandiser , Al Seer Group

First of all, Accounting is a language of business.
Accounting is not all about debit and credit, because where there is a double entry system, we use debit and credit.
There have a lot of small firms still exists and there having an accounting system called single entry system.
Anyway, commonly we use debit and credit, it is for a better result, if transactions are more, it is difficult to follow in the single entry system.
Thank you

Utilisateur supprimé
par Utilisateur supprimé

I think from my personal point of view that if any financial transaction analysis to both sides of the debtor and the creditor will be recorded correctly by one hundred percent

Utilisateur supprimé
par Utilisateur supprimé

Accounting not only debit / credit but they are the infrastructure for accounting if you do not understand What is the difference between them this mean you not understand accounting as whole.

ITAI TECLAH NYASULU  MSISKA
par ITAI TECLAH NYASULU MSISKA , Sai Pavan , Zublin Construction

Accounting is all about Debit and Credit journal entries that are well reconciled.One has to know the right and left of the transaction done and booked.

Utilisateur supprimé
par Utilisateur supprimé

Debit and Credit aspects are usually used in double entry system of accounting but not in single entry accounting.

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