Understanding Debits and Credits

In this course, you’ll explore the foundation of accounting and the five categories used in every business—Assets, Liabilities, Owner’s Equity, Revenue and Expenses. Every financial transaction falls into one or more of these categories.

Key topics include:

• The accounting equation 
• The five categories
• Creating a chart of accounts to meet your business needs
• Double-entry bookkeeping 
• Recording debits and credits
• Identifying, analyzing, and recording transactions using journal entries
• Applying the cash basis accounting method

By the end of the course, you’ll have a solid understanding of essential accounting principles and practical skills to manage business finances effectively.

This course is included in the Bookkeeping Certificate course.