English (Indian) Elearning Accounting Harish
Description
Vocal Characteristics
Language
EnglishVoice Age
Middle Aged (35-54)Accents
Indian (General)Transcript
Note: Transcripts are generated using speech recognition software and may contain errors.
Hello, I'm Aziz and will be working together to learn more about basic accounting in U N. Etc. Are. This course has been designed to provide you with an overview off accounting principles. So if you are ready, let's start exploring the world of basic accounting. Together, each financial account has two sides had debit and a credit side. When the transactions are recorded to two different accounts, one account always has to be debited, and the other account always has to be credited in double entry accounting. The words debit and credit have a different meaning than what you may be used to. Debit does not always mean a decrease in value, and credit does not always mean an increase in value. For example, debuting an asset account means increasing it while crediting it will result in a decrease. The cash account belongs to the asset category. Therefore, we can conclude that if we received cash, we will debit the cash account. But when we disperse cash toe a vendor, we will credit the cash account. The statement of Financial position represents all assets which are resources controlled by U N. Etc. Are, and all liabilities which are amounts owed by U. N etc. Are at the end of the fiscal year. That is, the statement of financial position provides a snapshot off UNHCR's financial position at a given date. Both assets and liabilities can be classified as current and on current. The difference between the assets and the liabilities is shown in the fund balances and reserve section off the statement.