Accounting for Novices|Part 1|The Accounting Formula


In part 1 of the accounting lesson for novices, we describe what the accounting formula is and why it is essential to comprehend the accounting formula. We describe possessions, equity, and liabilities. We likewise provide examples of possessions, equity, and liabilities. We go through a total example of doing the accounting formula. Accounting for Novices|Part 2|Debits and Credits|Journal Entries: Accounting for Novices|Part 3|General Journal (T-Accounts): Accounting for Novices|Part 4|Accruals & Prepayments: Accounting for Novices|Part 5|Trial Balance: Accounting Formula|with Debits and Credits|Discussed with Examples: Have a look at other uncomplicated examples on our channel. We likewise use individually tutorials at sensible rates. Get in touch with us: Email: [email protected] Our Site: Our Facebook Page: Assistance our Efforts: counttuts

16 thoughts on “Accounting for Novices|Part 1|The Accounting Formula

  1. In question no.8 am I wrong if I increase debtors control instead of Bank under assets?

    1. Also no.9 if I increase contribution (R30 000) instead of “capital” am I wrong?

      I don’t wanna lie your video helped me so much

  2. You are the best teacher ever😊 thank you so much for your explaination😍so clear and slimplified🙂

  3. Got my degree years ago, I’ve been working in the Finance space focusing on liquidity and cash flow movements, some of the Accounting pinciples are more laxed in the Finance side, great refresher for professionals as well keep up the good work.

  4. God bless you bro at least I’m understanding now with yours video I’m not flabaggersting any more questions thanks

  5. Wow you opened my mind i was struggled with this module for 3 years with no understanding thank you so much🙏🏽🙏🏽🙏🏽🙏🏽

  6. Danko, wish you were my lecturer or grade 10 accounting teacher when i did accounting for a year and changed subjects because i was failing accounting ,now that im back at doing accounting for my first year your videos bring more clarity❤

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