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Explanation Of T-account, Debit And Credit, And Double-entry Accounting System
By Igor Voytsekhivskyy
All accountants know several terms that create basis for any system. Such terms are T-account, debit and credit, and double-entry system. Of course, these terms are studied by students all over the world. However,
any business person, whether an investment banker or a small business owner, will benefit from knowing them as well. They are easy to grasp and will be helpful in most business situations. Let us take a closer look at these terms.
Igor Voytsekhivskyy is a CPA and CIA working in public accounting. He maintains a website SimpleStudies.com devoted to helping people learn accounting online for free.