Your Personal Tutor
ORDER Download of this Session SESSION SAMPLE Next Session To Menu
In this tutoring session you will begin understanding basic accounting by learning about debits and credits. You will learn the normal balance of accounts and you will learn the meaning of terms such as - accounting equation, group of accounts, or type of account. This session will help you to begin understanding accounting. See the subjects covered in this session, below:
(Click on SESSION SAMPLE above to see a sample of session one.)
ACE-LIP Method Explained
An acronym to remember the normal balance of accounts.
Figure 1-1, shows you all you must know and understand about Debits and Credits.
When Debit Means Plus
The use of T-accounts shows the effect a debit or credit entry has on an account with a debit or credit balance, and the importance of knowing the type of balance an account normally has.
Nine Steps to Solve a Problem
Nine tips for working out accounting problems and exercises in your textbook.
Shows an alternate version of the accounting equation which is easier for many students to understand.
Explains all of the steps of the accounting cycle from opening the books through closing them.