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ACCOUNTING BASICS: Debits and Credits Explained

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Accounting Stuff

Accounting Stuff

Күн бұрын

Пікірлер: 2 400
@AccountingStuff
@AccountingStuff 6 жыл бұрын
In making this video, one of the terms that I found hardest to define is "Economic Benefit"... if you have any alternative definitions to the one I gave I would love to hear it :) 🔗USEFUL LINKS ▪Debits and Credits Free Quiz → accountingstuff.com/blog/debits-credits-quiz ▪Debits and Credits Cheat Sheet → accountingstuff.com/shop/debits-credits-cheat-sheet ▪Debits and Credits Practice Questions → accountingstuff.com/practice-questions/debit-credit-question-pack-1 ⏱TIMESTAMPS 00:00 - Intro 00:39 - Debit and Credit Misconceptions 00:55 - What are Debits and Credits in Accounting? 01:22 - What is Economic Benefit? 01:48 - Which Accounts are Debits or Credits? 02:35 - Is Equity a Debit or a Credit? 02:46 - The Maths behind Debits and Credits 04:09 - How to Remember Debits and Credits 04:33 - Recap
@amytucker8335
@amytucker8335 6 жыл бұрын
Another great vid! I look forward to the rest of the series
@AccountingStuff
@AccountingStuff 6 жыл бұрын
Cheers Amy, working on the next one as we speak
@bestintaste4708
@bestintaste4708 6 жыл бұрын
It really good. I m eagerly waiting for more videos to cover every topic.
@AccountingStuff
@AccountingStuff 6 жыл бұрын
Thanks! I am working on the next one as we speak :)
@muskandakuda7572
@muskandakuda7572 5 жыл бұрын
The definition for "Economic Benefit" was comprehensive and easy. I guess giving an example to fully put it across would suffice. The example I can think of is as follows: Supposing I am an ice-cream manufacturing firm, I will have to buy assets like machinery and a freezer so that I could manufacture ice-cream. Other than those, I would have to buy ingredients like milk and flavours to make ice-cream, and eventually make money by selling them. Here, the components that I use give an economic benefit to the firm. The machinery and freezer contribute to the firm indirectly, and the ingredients contribute directly.
@robertovalle655
@robertovalle655 3 жыл бұрын
WOW, I paid 60,000 in grad school getting my MBA and this is the first time I actually hear somebody explain it clearly... My business school professors could never explain it this easily
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Cheers Robert, hope it's making sense for you
@ibrahimhikmat2664
@ibrahimhikmat2664 7 ай бұрын
Very sad really...I can totally relate!
@AquariusM9
@AquariusM9 5 ай бұрын
Agreed
@aggieterry8301
@aggieterry8301 3 жыл бұрын
I've been told : PEARLS Debit: Credits: Purchases Revenue Expenses Liability Asset Sales Thank you James, your films are very good and make much sense :)
@cobra8310
@cobra8310 2 жыл бұрын
this is right but it is repeating the same thing, purchases are classified under assets . On the other hand sales is the same as revenue
@lizjane1349
@lizjane1349 10 ай бұрын
I also got told Pearls but I don't think it's getting down to the real crux of what a Debit or Credit is or entails in quite the same way as Dealer. I think if you're capable of understanding Dealer then Pearls is a little bit vague.. or that was my feeling about it. I also got told that DR is money leaving the business and CR is money coming in, but this isn't fully accurate.. so it all feels very contradictory. I kind of think there is no escaping the higher level topics at a basic level as it all feeds into one whole, or the tree as this channel describes it
@maromancem306
@maromancem306 3 ай бұрын
That is applicable to Inventory under IAS 2
@kaydee3407
@kaydee3407 2 ай бұрын
​The tree of knowledge of good and evil .. Credits and then debits Ye shall surely die of its fruits.😂😂😂 Partake of the fuits if commerce ye shall be surety to its debt
@umatyagi9935
@umatyagi9935 Ай бұрын
​@@cobra8310 purchases are classified under expenses right , not assets
@TheDudecof
@TheDudecof 3 жыл бұрын
Einstein once said "If you can't explain it simply, you don't understand it well enough." This guy obviously gets accounting My professor on the other hand...
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Wise words from a wise man!
@sapsalingpusacattalkmaykwe1556
@sapsalingpusacattalkmaykwe1556 2 жыл бұрын
Agree!
@is0latedplays453
@is0latedplays453 2 жыл бұрын
Meanwhile my teacher pretty much just skipped the class and divided us into a group saying there will be a coach and you will learn from them
@diyema3434
@diyema3434 2 жыл бұрын
@@is0latedplays453 Lol.
@tevitamoala9511
@tevitamoala9511 2 жыл бұрын
Bro same 😭
@himanshunathani8600
@himanshunathani8600 4 жыл бұрын
I'm a novice in accounting, and was struggling to understand basic accounting equation. I've jumped on so many videos and references and ultimately lost all sanity. THEN I saw this video. 5.44 mins of listening and I got my sanity back. THE MOST CLEAR AND PRECISE. NO BS. AMAZING!!!!!
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Thanks Himanshu, it's great to hear that Debits and Credits are clicking for you. All the best :)
@JaveriaYousuf
@JaveriaYousuf 4 жыл бұрын
I've been studying accounting for 2 years and none of my teachers could explain it this clearly. THANK YOU James.
@AccountingStuff
@AccountingStuff 4 жыл бұрын
No worries Javeria, hope it's making sense for you
@henaramparsad9893
@henaramparsad9893 4 жыл бұрын
True! He did an amazing job 😍
@coolcollins585
@coolcollins585 4 жыл бұрын
Javeria Yousuf ikr
@wardasaeed3846
@wardasaeed3846 4 жыл бұрын
CA or ACCA
@-s2165
@-s2165 3 жыл бұрын
2 years? this should be taught in the first lesson no?
@ChocolateBubbleSkater
@ChocolateBubbleSkater 6 жыл бұрын
I'm an accounting major and these are some of the best explanations I've found. Good work
@AccountingStuff
@AccountingStuff 6 жыл бұрын
Thanks John!
@Austin-wh4yi
@Austin-wh4yi 5 жыл бұрын
what are you looking at debit/credit videos on your free time? Such an accountant thing to do.
@vernardinajunio8890
@vernardinajunio8890 4 жыл бұрын
Can you teach me more?
@SuperJack0208
@SuperJack0208 4 жыл бұрын
this is really good man!
@ikramulhaq4571
@ikramulhaq4571 3 жыл бұрын
Sir how i cant contact you?
@ClaytonDerby
@ClaytonDerby Жыл бұрын
CREDIT = SOURCE DEBIT = DESTINATION That is ALL I needed to fix my confusion. Thanks!! D stands for destination (debit) and the source gets credit for their resources. that is how I will remember it. haha
@FeanorSociety.
@FeanorSociety. Жыл бұрын
Been inn accounting for about 3 years and I feel silly because this very basic and simple stuff still gets me confused. This has helped me a lot! I appreciate the work you put into this man!
@qwjk1
@qwjk1 9 ай бұрын
how is accounting like? Currently in year 8 and everyones telling me to become an accountant
@Smidgenism
@Smidgenism 4 жыл бұрын
Just casually learning about accounting in the quarantine times (this is 4-month desperation behavior for an unemployed artist), and this concept was the first major stumbling block that made me think I wasn't cut out for it after all. Not only did the video finally get the concept to click for me, but the comment section full of proper accounting students who felt similarly has made me feel better for not getting it 😂 Thanks!!
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Hey there! Sorry to hear that you've been having a rough time. Good on you for learning accounting voluntarily! I hope you find it useful
@kagithkagith
@kagithkagith 2 жыл бұрын
This man proves that accounting is fun! I'm currently learning double-entry bookkeeping with a learning provider that can't explain anything properly, so these videos are a godsend!!!
@bluecafe509
@bluecafe509 Жыл бұрын
Why didn't somebody just say that: "Destination" and "Source". I almost failed accounting in college because I thought credit was "given to me", and debit was "taken from me".
@Beef-mutton-chicken-oh1wz
@Beef-mutton-chicken-oh1wz 2 ай бұрын
Same with me
@sasa3712
@sasa3712 2 жыл бұрын
I've been studying accounting for 4 years and non of my teachers could explain it this clearly. THANK YOU SO MUCH
@simphiwendlovu7516
@simphiwendlovu7516 5 жыл бұрын
where have you been all my life?! Finally, thanks to you I GET IT.
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Haha, no problem... I'm glad that it's clicked for you!
@pyrospark4167
@pyrospark4167 4 жыл бұрын
Honestly this 6 minute video taught me more than my Professor has in 6 weeks.
@sechubemalatji3650
@sechubemalatji3650 2 жыл бұрын
Thank you for your videos James, bless you. I'm an MBA candidate and I was doing Accounting and financial management last quarter - I got my results today and I passed my exam through using your videos and other material to practice.
@user-ms2qp1gg2p
@user-ms2qp1gg2p 11 ай бұрын
Hey, I am new to accounting. Please tell us what other accounting materials helped you. Thanks
@nala7658
@nala7658 Жыл бұрын
I have a unit assessment on Friday and was struggling with doing this via home learning with no one to explain. Watched this twice and think you should be writing our course manuals. Can’t thank you enough, subscribed.
@Matt-ne7mu
@Matt-ne7mu 5 жыл бұрын
The editing and camera work on this video is amazing! It makes it so fun to watch!
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Thanks Matt!!
@coolcollins585
@coolcollins585 4 жыл бұрын
Matt Eng ikr true all others videos with actual white boards are like so boring😂
@evelynalice7690
@evelynalice7690 3 жыл бұрын
Go shop with @Darkfeet7 on telegram he is the best he has been helping me with card for about three months,
@sunitadas8068
@sunitadas8068 4 жыл бұрын
I've always had a difficulty understanding accounting, and you've done some good work for me. Keep helping me all the time. Subscribed! 💛
@AccountingStuff
@AccountingStuff 4 жыл бұрын
No worries Rumi, I'm happy to help :)
@georgia4ie59
@georgia4ie59 4 жыл бұрын
I wish I found this channel when I was in grade 12!! There are some amazing points and clear definitions. I love the time splits. Keep up the great work
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Thanks Georgia, cheers for your support!
@jordanbean4706
@jordanbean4706 7 ай бұрын
I am a student in my senior year majoring in finance. I have taken 4 or 5 accounting classes at this point between the 200-400 level and I have never felt like I have had a good grasp on accounting terminology. This video explains the subject in a such a simple way its mind blowing. Thank you very much for this series.
@AccountingStuff
@AccountingStuff 7 ай бұрын
Great to hear you found it useful! All the best with your studies :)
@baueraltynbek
@baueraltynbek 2 жыл бұрын
As it was suggested earlier by other commentators, James should teach most of professors how to teach Accounting basics. Good job, James! May your hard and creative work only benefits everyone learning this subject and inspires you for best results! Thanks a lot!
@joelmacdonald8332
@joelmacdonald8332 5 жыл бұрын
I literally had to start writing this down as notes in my booklet, well done!!!
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Cheers mate! I'm glad that you're finding it helpful!
@babyjhudiel18
@babyjhudiel18 5 жыл бұрын
I did too!
@MauriceArwa
@MauriceArwa 4 жыл бұрын
me too
@vanillendosimau7486
@vanillendosimau7486 3 ай бұрын
I study in one of the best universities in Ireland and all it took was this one video for me to finally understand debits and credits....... God bless this man
@AccountingStuff
@AccountingStuff 3 ай бұрын
Great to hear it's clicking for you!
@kevinmunyon8492
@kevinmunyon8492 2 жыл бұрын
As someone who works in public accounting, these videos have been fantastic to look back to to kick the dust off the brain. Thanks for the videos!
@HeyFutureUs6
@HeyFutureUs6 4 жыл бұрын
I was having difficulty wrapping my head around when an account should be debited or credited and this just solidified my understanding in 5 minutes. Thanks very much!
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Great! No worries, glad it's making sense
@melissamarcoe1681
@melissamarcoe1681 4 жыл бұрын
This video helps me LOADS!!! I'm so grateful I stumbled upon this! I can finally feel a little more in my accounting classes! Definitely will be watching more
@AccountingStuff
@AccountingStuff 3 жыл бұрын
That's great to hear! All the best with your studies
@ericalappatt5118
@ericalappatt5118 10 ай бұрын
I can't believe that I didn't watch your videos sooner, James. Made me understand 5 years of mind boggling concepts in 5 minutes. Keep up the good work.
@AccountingStuff
@AccountingStuff 10 ай бұрын
That's great to hear! Glad it's making sense now
@jelsei
@jelsei Жыл бұрын
after almost 4 months of working as a trainee accountant i FINALLY UNDERSTAND THANK YOU SO MUCH i have a really important exam on thursday for my qualification and you have singlehandedly made everything just click in my brain and its so silly but i'm tearing up because the workload of my job and studying has been immense, especially since i work nights at a fast food place for extra money so i don't have as much time as the other people in my college class and i am so so happy thank you so much
@Elle--lc7ep
@Elle--lc7ep 2 жыл бұрын
Posting here in 2022...just wanting to say that your videos cover more and provide a better understanding than more traditional, stuffy courses I have taken in Accounting. I am making a choice to broaden my career horizons by going into Accounting (and before anyone says I am crazy, you need to check out two of his videos that actually gives very good reasons why you SHOULD pick accounting as a career - and why you should not - because hey, it isn't for everyone, but that is besides the point). Anyways, wherever you are now, hope you realized what a positive impact you're making and have made on people and continuing doing this in some capacity.
@franceslionheart
@franceslionheart 3 жыл бұрын
Hi James, I'm currently studying for two finance and accounting tests, and I just want to say thanks so much for making high quality videos! You really know how to teach all this accounting stuff!
@AccountingStuff
@AccountingStuff 3 жыл бұрын
No worries, hope they go well!
@liil_genius
@liil_genius 4 күн бұрын
5years later & this is still the best video there is on the "Accounting Equation".
@AccountingStuff
@AccountingStuff 4 күн бұрын
Great to hear it's still useful :)
@Anonymous-sk4jm
@Anonymous-sk4jm 3 жыл бұрын
I am currently an Accounting and Business Management grade 11 student here in PH. Due to the pandemic, I am on modular/self-study mode. This video helped me about debits and credits since I already have an accounting subject. Your discussion is not complex and completely easy to understand. Though your video was made 2 years ago, hence, it is very helpful to students like me. Thanks a lot😊
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Glad you found it useful, all the best with your studies!
@sky_3023
@sky_3023 3 жыл бұрын
I really think your video should be played in every accounting course! So many of us seeing this video now really wished we saw it sooner when we were studying!
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Glad you enjoyed it! All the best with your studies :)
@georgeem9867
@georgeem9867 3 жыл бұрын
i studied international business management and had to accounting courses that i never understood lol. i graduated this june and i am very lost by which directions i should do my masters. i have a gap year and i decided to give accounting a try and i am going to watch all your videos. currently on the 2nd one and man you are making me love accounting. really appreciate your videos, thanks man :)
@AccountingStuff
@AccountingStuff 3 жыл бұрын
It sounds like you have some big choices to make. Best of luck with it all!
@sandimarielavati2354
@sandimarielavati2354 3 жыл бұрын
Martinez is legit and reliable Have worked with him some months back and believe me he’s one of the legit hackers he’s the best if you need help with paying off debt ,credit score fix , credit card ,bank account,phone hack, PayPal hack . Contact him on +12013507159 via WhatsApp Mail him on martinezraber@gmail.com()
@zebeast2068
@zebeast2068 Жыл бұрын
Already learned more about accounting in this video than I have my entire semester at college. Will be binging your videos to catch up for my final. Thank you!
@funwithtuni
@funwithtuni Ай бұрын
I'm a commerce student studying in grade 11, but I lacked clarity on the concepts of debit and credit.. Thank you so much for clearing my doubts and misassumptions! I'd definitely like, subscribe & recommend your videos. Your doing great and keep it up!
@AccountingStuff
@AccountingStuff Ай бұрын
Great to hear it's clicking for you :)
@FaathimaKhan
@FaathimaKhan 5 жыл бұрын
As someone learning accounting for the first time, you really made it concise and simple to understand. You have all the qualities of a brilliant teacher. Thank you and please continue making these videos!
@usama7301
@usama7301 3 жыл бұрын
I'm studying accounting & finance in my first year, and this video has actually helped me a lot. I've only watched it once so I haven't fully grasped it yet, but this explanation made me look at it this way: The source is x, what do you do with x? If it causes the economic benefit it's the credit. And whatever is on the other side is the debit. Again this probably isn't the best way to look at this. But I had nothing to work with. Just sheer confusion to how to distinguish a credit from a debit.
@roookieaedy
@roookieaedy 21 күн бұрын
Omgg this is extremely helpful. I’m paying my study loan to understand the whole accounting thingy AND none of it is easy to understand. Yours are simpler and easy to comprehend!
@AccountingStuff
@AccountingStuff 20 күн бұрын
Great to hear you found it useful!
@brandonsanchez3258
@brandonsanchez3258 Ай бұрын
5 years later and you saved me! Couldn’t get my head around this! Thank you!!
@AccountingStuff
@AccountingStuff Ай бұрын
Great to hear it's making sense :)
@obaidabdoola1840
@obaidabdoola1840 Жыл бұрын
i wish i knew wtf was going on
@kanzenDo1
@kanzenDo1 3 жыл бұрын
You teach better than most college's teachers. We need better teachers. Thank you very much for the video
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Thanks for your kind words!
@cactusgirl6819
@cactusgirl6819 Жыл бұрын
You will never know how much easier you made my life with this video😭❤️ Thanks to you I finally understand why revenues are recorded as credit and expenses are recorded as debits. Earned a subscribe for that!
@jaegar1nine266
@jaegar1nine266 2 жыл бұрын
Thank you sir! About to get a job in accounting/admin, needed this for refresher. You rock!
@trumanway3763
@trumanway3763 5 жыл бұрын
🎵debit on the left, credit on the right. Debit left credit right, debit left credit right.🎵did Angelo’s learn that I’m their accounting class
@seddportugal2564
@seddportugal2564 3 жыл бұрын
You would make an awesome professor in Accounting
@akifapatel6345
@akifapatel6345 2 жыл бұрын
1) Debit ehat comes In, credit what goes out. 2) Debit the receiver, Credit the giver. 3) Debit the expenses and losses, Credit the incomes and gains. The above are 3 main rules of debit and credit.
@michaeloconnor1164
@michaeloconnor1164 2 ай бұрын
Hey James you're great! I'm taking Florida Business and Finance exam to be able to get a trade license . You're keeping my attention and you're really good at changing it up to keep me focused. I have to study all kinds of things financial. Thank you sooo much!
@AccountingStuff
@AccountingStuff 2 ай бұрын
Thanks Michael! All the best :)
@harshakumavat6266
@harshakumavat6266 4 жыл бұрын
I am about to start AS level accounting. Honestly a lot of this seems pretty alien but it's alot clearer than some other stuff I watched. Your videos are great!
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Thanks, good luck in with your studies!
@minvs
@minvs 6 ай бұрын
How'd your exam go?
@markwile2713
@markwile2713 5 жыл бұрын
Taking my first accounting class, it has been a humbling experience. Thank you for sharing this video, it has been most useful!
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Glad you found it useful!
@hamserhead3422
@hamserhead3422 10 ай бұрын
Thank you! I’ve learned more from you in the past 30 mins than from reading my accounting book for the past five weeks!! You are awesome 🎉
@AccountingStuff
@AccountingStuff 10 ай бұрын
Great to hear you're finding these useful!
@brittwilhoit
@brittwilhoit Жыл бұрын
I cannot thank you enough for these videos. I struggle so much to read the text book because it is so dry. These videos actually hold my attention and help me to get the information I need to get through this class. Thank you thank you thank you.
@AccountingStuff
@AccountingStuff 11 ай бұрын
Glad you're finding them useful!
@user-uo7uc4mq2j
@user-uo7uc4mq2j 5 жыл бұрын
u r a genius in explaining stuff i will recommend this channel 2 my friends
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Thanks mate, that would be awesome!
@SittinBull
@SittinBull 3 жыл бұрын
you explained this better in 5 minutes than my college class did in weeks lmao
@abdulmanan3443
@abdulmanan3443 6 ай бұрын
my 4 years graduation from university was failed to explain this..which i learned from you in minutes..thanku is little word for you..lov❤
@AccountingStuff
@AccountingStuff 6 ай бұрын
Great to hear it's clicking :)
@richardpicard4824
@richardpicard4824 2 жыл бұрын
The tip DEALER totally helped me understand debits/credits completely. You are so awesome James. I hope your channel continues to grow.
@AccountingStuff
@AccountingStuff 2 жыл бұрын
Cheers Richard, glad you found it useful!
@shukyx7203
@shukyx7203 5 жыл бұрын
You are such an excellent teacher.
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Thanks!
@andretuazon
@andretuazon 4 жыл бұрын
I think Im in love with you. Thank you for putting effort into this. Helps a lot. Production is WOOOOW!!!
@AccountingStuff
@AccountingStuff 4 жыл бұрын
No worries Andre, I'm happy to help
@francedeguzman510
@francedeguzman510 3 жыл бұрын
The source and destination explanation really helped a lot! I'm on my second Accounting class and I still couldn't fully grasp the difference until this video. Thanks, James!
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Great to hear it's making sense! All the best with your studies :)
@tenlongfingers70
@tenlongfingers70 4 жыл бұрын
Me: Hey Teach are there any easy ways to remember what goes to debit or credit? Professor: Well, you just gotta memorize it. Sorry. This guy: DEALER
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Dealer is a winner!
@hershfam
@hershfam 3 жыл бұрын
during one of my lectures a slide came up with "DEALOR" on it, the teacher said " oh dont worry about that it wont be useful, we'll skip it". Now its way clearer. the source and destination explanation helped a ton
@charliebrassey6631
@charliebrassey6631 4 жыл бұрын
literally saved me from failing my degree. thank you
@AccountingStuff
@AccountingStuff 4 жыл бұрын
No worries, hope you smash it
@jaaanglez9766
@jaaanglez9766 2 жыл бұрын
the information you presented is very clear and concise and free!! thank you!
@AccountingStuff
@AccountingStuff 2 жыл бұрын
Thanks for your feedback :)
@jk99919
@jk99919 2 ай бұрын
I am an engineering post graduate studying business administration in York University. I found your video when i was preparing one of my assignments. you made it so clear that i could understand it and will never forget the balance equation in terms of debits and credits.
@AccountingStuff
@AccountingStuff 2 ай бұрын
Great to hear it's clicking for you!
@jk99919
@jk99919 2 ай бұрын
@@AccountingStuff Your video links were posted in LMS portal of York University, Toronto, Canada.
@AccountingStuff
@AccountingStuff 2 ай бұрын
@@jk99919 That's cool!
@kaydee3407
@kaydee3407 2 ай бұрын
​@@AccountingStuff Just a doubt .. Can we see owners equity as a loan to the company.. So its a liability as well but to shareholders ... And the dividend is paying the cost to the source that the shareholders loan ??? Am i write in thinking that
@kaydee3407
@kaydee3407 2 ай бұрын
Can we see..the equity equation as Equity ( liability to shareholders) As owners equity that privides PRESENT benefit to the shareholder ie dividends .. ( Owners equity - divident ) Plus Future benefit of the shareholder which is the future liability of the company person to its shareholder .when it closes down ie Revenue - expenses which gives rhe value of assets to be distributed in future to the shareholder .. ie( Revenue - Expenses ) Is future liability to the shareholders So equity = PRESENT liability to shareholder (OwnE - dividend) + FUTURE liability to shareholder ( Revenue - expenses witch is the assets ) EQUITY = P.EQUITY + F.EQUITY (ASSETS)
@amaljeeson3786
@amaljeeson3786 6 жыл бұрын
Great video... keep making more... I am from India and your videos help me a lot to understand the basics...
@AccountingStuff
@AccountingStuff 6 жыл бұрын
Thanks Amal! I'm so glad this helped you out. I am working on more right now, should have another up next week.
@ershadnadiro7293
@ershadnadiro7293 4 жыл бұрын
DEALER. You’re a champ
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Cheers Ershad
@kyleduplessis01
@kyleduplessis01 4 ай бұрын
Have just watched about 4 of your videos. I am first year college student and am doing accounting for the first time as one of my modules. I am so behind and lost in class, and the lecturer sucks at teaching and explaining things. You have taught me so much more in the past 30min than she has in the past 3 months
@AccountingStuff
@AccountingStuff 4 ай бұрын
Great to hear you're finding these videos useful!
@Nuti1996
@Nuti1996 4 ай бұрын
James you're a legend!! The way you explain everything plus the quality of your video makes it appealing to watch it.
@AccountingStuff
@AccountingStuff 4 ай бұрын
Thanks, glad you found this explanation useful!
@treemane0
@treemane0 5 жыл бұрын
Thank you for making such amazing content
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Thanks buddy!
@shubhadeepdas7191
@shubhadeepdas7191 6 жыл бұрын
Sir please keep making video on accounting subject
@AccountingStuff
@AccountingStuff 6 жыл бұрын
Will do! I have just put out another on T Accounts and am working on more as we speak
@chefmayi70
@chefmayi70 3 жыл бұрын
Currently doing an online course and you explaining that Debits and Credits is more like Head and Tails rather than good or bad makes my life so much better. Thank you.
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Glad it's making sense! Best of luck in your course
@Max-ld6gq
@Max-ld6gq 2 жыл бұрын
I just spent TWO FRICKEN HOURS reading a textbook that tried to explain this in the most convoluted way. And you did it simply in the span of 5 minutes and 43 seconds.
@rsmohini5922
@rsmohini5922 6 жыл бұрын
fantastic
@AccountingStuff
@AccountingStuff 6 жыл бұрын
Thanks, I'm glad you enjoyed it!
@jdfuller1483
@jdfuller1483 4 жыл бұрын
This is straight up about to save my grade
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Hope it helps!
@roderickhou4112
@roderickhou4112 2 жыл бұрын
Now, this video has really gotten me super clear about the concepts! My professor almost didn't explain this. Thank you for the video!
@AccountingStuff
@AccountingStuff 2 жыл бұрын
Great to hear it's making sense :)
@lckcyy
@lckcyy 4 жыл бұрын
Yes ive finally get it screw my classes i love this much more
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Woooo! Nice one
@williamferguson8147
@williamferguson8147 5 жыл бұрын
Can you go into a little more detail as to why exactly a dividend and an expense is a destination of an economic benefit?
@mtgnewbie2544
@mtgnewbie2544 5 жыл бұрын
Agreed
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Hey William, in my recent video I give a better explanation of this -> kzbin.info/www/bejne/a4qWqJ1-Ypuafs0 Have a watch of that and let me know if it still isn't making sense
@brookehoveysaccount
@brookehoveysaccount 7 ай бұрын
james, i am a struggling acct. student and this was SUCH a fun way to solidify my learnings. straight up LOVE this, you're nailing it.
@AccountingStuff
@AccountingStuff 7 ай бұрын
Thanks for your lovely feedback. Best of luck in your studies!
@brookehoveysaccount
@brookehoveysaccount 7 ай бұрын
also love that you are/were a fellow vancouverite - stay warm 🤞🏼
@AccountingStuff
@AccountingStuff 7 ай бұрын
I'm in Australia these days. But I miss Vancouver very much!@@brookehoveysaccount
@gutierrezabraham8920
@gutierrezabraham8920 2 жыл бұрын
Such a comprehensive manner of explaining something obvious just in about minutes, we appreciate your work here!!!!!
@milbxbycol9426
@milbxbycol9426 4 жыл бұрын
In my case, remembering DEALER is so much easier because I am Colombian
@sk_zaid_zaidkamurdeen9317
@sk_zaid_zaidkamurdeen9317 4 жыл бұрын
then u are pass
@dbuc4671
@dbuc4671 3 жыл бұрын
this made me lol
@shubhadeepdas7191
@shubhadeepdas7191 6 жыл бұрын
Sir i am from india ......
@rayaneben3954
@rayaneben3954 3 жыл бұрын
Just one word : incredible. You are super hero of Finance field
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Thanks :)
@eduskateacademy4844
@eduskateacademy4844 7 ай бұрын
OMG this has confused me so many years even after a degree and a year placement. I would get it right but I didn't fully understand it. This is the best explanation ever. Especially the debits destination and credits source part. THANK YOU!!!
@AccountingStuff
@AccountingStuff 7 ай бұрын
Great to hear it's making sense!
@irinaandjoshuajavaheri9626
@irinaandjoshuajavaheri9626 6 жыл бұрын
Love this! Keeping making more.
@AccountingStuff
@AccountingStuff 6 жыл бұрын
Thanks! I'm glad you liked it. I am working on the next one as we speak.
@brucejones1962
@brucejones1962 4 жыл бұрын
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card with high balance 💯
@abobakralkubati5318
@abobakralkubati5318 4 жыл бұрын
In a nutshell: Debit what you get, credit what you give . debits=destination credits=source
@brucejones1962
@brucejones1962 4 жыл бұрын
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card with high balance 💯
@creativecranium83
@creativecranium83 Жыл бұрын
THANK YOU!! This helped me so much. I was just told "You'll just have to memorize it, I don't know what else to tell you". I was struggling with this so much and this video saved me!
@jingkim9795
@jingkim9795 2 жыл бұрын
So helpful and DEALER is such a clever way to help memorize the equation. Thank you so much!
@xXnoproblemshereXx
@xXnoproblemshereXx 4 жыл бұрын
About to go into a lab, pray for me brothers
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Best of luck!
@jeangomez4191
@jeangomez4191 4 жыл бұрын
this is just a random comment but you look a lot like the football playet Thorgan Hazard lol. But great videos mate
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Haha, funnily enough you're not the first to say this. Wish I had his football skills!
@brucewayne4036
@brucewayne4036 2 жыл бұрын
I have a super strict teacher who is a jerk some time and strange but he is one of the best teachers he explains something and everyone understands it
@OgoDance
@OgoDance 3 жыл бұрын
I've read a whole chapter from my accounting book about it and I didn't understand the concept. I saw 5 min video and I got it straight away. Thank you.
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Hey Karolina, I'm glad it's making sense!
@Angelica-pu3dq
@Angelica-pu3dq 4 жыл бұрын
Im still so confused, ugh!
@evelynalice7690
@evelynalice7690 3 жыл бұрын
@Darkfeet7 on telegram is a real vendor I can’t believe my eyes that man too real Go on his telegram He sell credit card with high balance💯
@Angelica-pu3dq
@Angelica-pu3dq 3 жыл бұрын
@@evelynalice7690 ?
@giovannibloom6433
@giovannibloom6433 3 жыл бұрын
What are you confused about exactly?
@yazhinikrishnamurthi
@yazhinikrishnamurthi 3 жыл бұрын
Hey mate! I'm an English major and took an accounting elective. I've been struggling a lot until I found your channel. Amazing stuff. I've learnt more from your videos than I've done in class the past 4 months. Thank you so much!
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Hey there! Great to hear that you're finding these helpful. All the best with your studies :)
@sa_mtira
@sa_mtira 5 ай бұрын
By far the most simple explanation of these concepts I've ever heard, you're a legend👌.
@AccountingStuff
@AccountingStuff 5 ай бұрын
Thanks, great to hear you found it useful!
@jujube5828
@jujube5828 3 жыл бұрын
Omg! I cannot thank you enough!!! I do not have a background in accounting, but I am studying basic financial concepts applied to healthcare at the moment. I have been reading through my accounting textbook and course notes for days now and only getting more and more confused. This has helped me soooo much!
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Glad it was helpful!
@TheOriginalNikkiSerenity
@TheOriginalNikkiSerenity Жыл бұрын
I appreciate your visual so much. It never made so much sense to me and I’ve been in accounting a very long time and still struggled with these. You are a gift to all those that are visual learners.
@abhiklovesbadbitches
@abhiklovesbadbitches 4 жыл бұрын
mad how you managed to fit in so m8ch information into 5 minutes. my professor took 3 50 minute classes to do the same. big up 💪
@chandanakv2684
@chandanakv2684 2 жыл бұрын
Oh my god ! I am glad my mentor suggested your videos. I had to do so many scrolls to put a comment . But it's totally worth it. Thankyou for making it so simple n easy.
@SydneyVilakazi
@SydneyVilakazi 2 жыл бұрын
I did Accounting from 10th - 12th grade and I wasn't really a fan, little did I know I'd involuntarily encounter it again in college; I'm doing my first year in Bachelor of Business Administration in Logistics and Supply Chain and I have Accounting for this entire year as one of my modules and in Learning Unit 2 we have the Accounting Equation and Double-Entry, and the concept of debit and credit has often dribbled me but it took just one watch at this video and taking down notes to grasp it. Thank you.
@bartgee6178
@bartgee6178 3 жыл бұрын
This is the best explanation of debits and credits I’ve ever heard. And I’ve been perpetually confused by this stuff. Making the complex simple. Brilliant!
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Glad to hear it made sense :)
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