Solving Accounting Problems

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I recommend, you must study more than one author's accounting book.

It will increase your consciousness relating to accounting.

It is equally important to note that with the equation Debits = Credits, the left side must always contain debits, and the right side must contain only credits.

Order and consistency when representing debits and credits are paramount.

The theory behind this is that for every transaction, you are taking money away from one account and adding it to another account.

For example, if your company purchases 0 in business supplies, you would be inclined to think of taking 0 cash out of the checking account, and you would be right.

Debits and Credits: Every accounting transaction must be either a credit or debit.

Quite simply, either you are crediting money or debiting money to the overall balance.

Every accounting problem can be easily solved if you define it, collect the information relating to it and analyze it.

But doing all these, you have the attitude of "Yes, I can solve the problem of accounting." Without this attitude, you can not reach the solution. You have to focus your mind on your accounting problem. But still, your mind say to you, just 5 minutes, I will get up.


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