Debit / Credit

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Debit / Credit

bilal azhar
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04-05-2005, 06:30 AM

how would u define debit and credit?

i have been studying accounting for the last two to three years and has studied almost all famous books of accounting like shukla and gupta,frankwood,pbp,pac papers etc but has not find a definition of debit and credit.debit credit rules are given in every book but how would u describe to a layman that what is debit and credit.

one of my accounting teacher,not a chartered accountant gave the following definiton of debit and credit
"when we divide a page into two parts,the left side is called debit and the right side is called credit."

i think that above definiton is not correct.would some body explain to us the debit/credit definition.

bilal

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Debit / Credit - by bilal azhar - 04-05-2005, 06:30 AM

[No subject] - by Desert Sleet - 04-05-2005, 07:15 AM

[No subject] - by bilal azhar - 04-05-2005, 08:40 AM

[No subject] - by Mahtab - 04-05-2005, 10:16 PM

[No subject] - by Sahar_M - 04-12-2005, 04:52 AM

[No subject] - by the_farhan - 04-13-2005, 03:57 PM

[No subject] - by bilal azhar - 04-14-2005, 08:47 AM

[No subject] - by the_farhan - 04-15-2005, 06:52 AM

[No subject] - by Mahtab - 04-19-2005, 07:47 PM

[No subject] - by Shahid_fss - 04-19-2005, 11:29 PM

[No subject] - by mattis - 05-02-2005, 01:57 PM

[No subject] - by fahim239 - 05-03-2005, 05:04 AM

[No subject] - by fahim239 - 05-03-2005, 05:07 AM

[No subject] - by bilal azhar - 05-04-2005, 07:31 AM

[No subject] - by Mahtab - 05-30-2005, 06:50 PM

[No subject] - by Moon - 09-22-2005, 03:35 PM

[No subject] - by Mahtab - 09-30-2005, 09:13 PM

[No subject] - by ibrishah - 09-30-2005, 09:56 PM

[No subject] - by Moon - 10-04-2005, 05:57 PM

[No subject] - by Griff - 10-20-2005, 11:50 AM

[No subject] - by accountant1 - 10-28-2005, 02:51 AM

[No subject] - by MaFiA - 11-17-2005, 05:44 PM

[No subject] - by RaoZub - 05-25-2011, 04:17 PM

[No subject] - by RaoZub - 05-25-2011, 04:41 PM

[No subject] - by RaoZub - 05-25-2011, 04:45 PM

[No subject] - by danishayub_76 - 05-28-2011, 01:45 PM