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Understanding Debits and Credits


Overview

Debit and Credit in Accounting

The functions of debit and credit in accounting must be understood in detailed by the expert accountant. Primary because the accounts of any business are comprised of a series of debits and credits. Also referred to as income and outgoings, these are the transactions that determine the financial viability of the business.  Accountants must have a strong grasp of the difference between debit and credit in accounting, in order to provide a reliable service. However, the role of the accountant goes far beyond tracking expenses and calculating revenues. By understanding the definition of debit and credit and their functions, strategies can be devised to minimize costs and maximize income. It is effectively a form of strategic risk management – all of which falls under the daily duties of the professional accountant.

This tutorial introduces debits and credits from a corporate standpoint, focusing on debit meaning in accounting, debit and credit difference, data analysis and strategic decision-making. Discover how to work with key annual reports, establish workable profit margins and use ratios to guide financial decisions. Explore a series of useful ratios in-depth and find out how proactive and efficient debit credit accounting can transform the financial performance of a business.

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Objectives

After the completion of this module learners will be able to:

  •     Understand Debits and Credits
  •     Reading Annual Reports
  •     Understanding Ratios and their Use in Decision Making
  •     Identifying High and Low Risk Companies

Programme Content

Topics:

  •     Differentiate between debits and credits
  •     Identify and analyze important financial data
  •     Net and Gross Profit Margin
  •     Make financial decisions
  •     Read annual reports
  •     Determine whether a company is financially high or low risk

Target Audience

  • New or recent recruits to banking and financial organizations
  • Operations and support staff
  • Finance and accounting staff
  • Dealers and Traders

Prerequisites

No prior knowledge is required to take this unit.

This module can be taken individually or as part of the course on discount price. You can choose from any one of the following courses:

Diploma in Accounting and Finance (Level 4)
Certificate in Accounting and Finance (Level 3)

Overview

  • Participants:8 - 400
  • Duration: 2 - 3 hours
  • Participation:Only collaborative

Key Benefits

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Course Level
Study Method Online
Course Duration 10 Hours
Start Date on going
Awarding Body CPD Standard Office
Pay in Instalment Full Fee £ 120, Deposite £ , ( £ 0/month )
Full Fee:    £ 120

Discount:    £ 30

Pay Today:    £ 90


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Pay in Instalment Full Fee £ 120, Deposite £ , (£ 0/month)
you can pay Staff Training Solutions using payatrader
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