i have been taught that if capital / a liability decreases , income decreases , an expense increases, it is debit. can anyone explain why it is debit. i will be grateful if anyone explain elaborately.thank you.
ACCA Forums
General ACCAdebit and credit.
12y ago#1Debits and credits are simply a set of rules. To explain it in full here would be impossible, but if you watch my lectures it is explained in detail.
The lectures on this topic are here :
https://opentuition.com/acca/f3/double-entry-bookkeeping-part-a/
https://opentuition.com/acca/f3/double-entry-bookkeeping-part-b/
(You will need to download the Paper F3 course notes that go with it, but they are free of course)
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