Debit
A debit is an entry on the left-hand side of a ledger account. Debits normally increase assets and expenses and decrease liabilities, equity and income. The effect depends on the account’s nature. Every complete double-entry transaction has equal total debits and credits, so a debit is paired with one or more credits rather than being a standalone record.
Worked example
Buying equipment for $5,000 cash debits equipment $5,000 and credits bank $5,000; one asset increases while another decreases.
Common mistake
Debit does not universally mean an expense, a loss or money leaving the bank. Always identify the account being debited.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | F1 | Direct | July 2027–August 2028 |
| ACCA | F2 | Direct | July 2027–August 2028 |
| ACCA | FA | Direct | September 2026–June 2027 |
| ACCA | K1 | Direct | July 2027–August 2028 |
| CIMA | BA3 | Direct | Official assessment-window verification pending |
| FIA | FFA | Direct | September 2026–June 2027 |