Krug's accounting lessons have LITERALLY saved me with my intro to accounting class in college. I hate having to basically take 2 classes at the same time but at least I don't have to pay to watch these videos. Thank you for being a great teacher and also for posting these online for us to watch for free. You are a life saver!
One of my professors taught us this way... Debit: W-A-D-E (Withdrawal, Assets, Dividend, Expenses) Credit: L-C-R as in the dice game (Liabilities, Capital, Revenues)
Hi You got a student who is watching your class now in 2023. Thank you so much for your hard work! I enjoy your class and start loving accountings. You are the best guidance!
I watched this last week, and I think I remember him saying that he's not sure why it's called credit and debit (or at least he doesn't know why debit is abbreviated "dr."). I couldn't leave comments on that computer, so I'm coming back to say: debit = debere (to owe) and credit = credere (to entrust)! For instance, pay an expense by debit Expense account and credit Asset account. The asset account is "entrusting" money to the expense account. Of course, these definitions aren't very practical by now, but that's why they're dr and cr :-)
I use DEALOR to remember credits and debits DEA= DIVIDENDS, EXPENSES, ASSETS; LOR=LIABILITIES, OWNERS EQUITY, & REVENUE......also what a great professor
I really struggled in accounting,, but was still able to pull off a good grade but I'm watching these videos as a review. This guy is a really good teacher. He breaks it down at the elementary level so people can understand it. Thanks.
Anything that is normally added to the Left side of the accounting equation OR subtracted from the R side is a debit balance account. Vice versa is also true. You don't need flash cards. If you understand this concept, you can always figure out what type of balance account something is. Memorizing will help you know it faster, but getting the concept will help you more in the long run. BTW, this guy is a phenomenal teacher. I am learning so much so from him. I just prefer concept based learning rather than rote memorization.
The greatest accounting instructor ever!!!! I love the way you teach!!!! Wish other college instructors were as detailed as you are!!!! Keep up the good work! Excited about watching all your videos!
I think the better way to remember this is "where are the accounts when they are positive?" The accounting equation can be rewritten as: ASSETS+DRAWS+EXPENSES = CAPITAL+LIABILITIES+INVESTMENTS+REVENUE When the terms are shifted around until they're positive, all the account types on the LEFT of the equal sign INCREASE on the left side of the tee (Dr). All the accounts on the RIGHT SIDE increase on the RIGHT side of the tee (Cr). I finally get it, thanks to your videos!
David Krug's accounting lectures are THE BEST. He breaks it down to make it easy to understand. When I am trying to figure out a problem or read an annual report, his voice and logic are in my head. Thank you!
I'm loving each of your lessons I've taken so far, I wanna say God bless you for this opportunity you've given to some of us who are yet to take course. You're a wonderful person, thank you so much 👊👊
Great teacher, I'm taking ACC 101 and my teacher just wants us to learn from the book without explaining it. I learned more from this video then a 3 hour class.Thanks
Same here. In fact, we, as students at my university, were expecting to teach ourselves the material, do the homework, and then go over the homework in class before the teacher had even taught us anything. It made learning the subject much more difficult than necessary. I've been following these video lessons and have been acing everything so far, and it's all due to the professor simply taking the time to explain the process and then show the process in action. I started watching these videos because I have become unsatisfied with my job in operations. I'm looking to make a career change, and, thanks to these videos, I'm thinking a job in accounting might be right up my alley. To the professor who made these videos - thank you! :)
anyone having issues with the concepts of debits and credits look up the youtube video called debits and credits, this video makes it really easy to understand and remember
it is truly a pleasure to learn from you. thank you for uploading this. The quality of these videos are far better than most of the current online lectures from other institutes.
15 years back I took accounting class. I had two instructors teaching and helping us. Unfortunately, none could teach me accounting. All the things Prof. David Krug said is true. It is amazing that he spent so much time teaching Debits and Credits - the essential foundation of Accounting. I am good at making Journal entries now, but my grades back then will always be poor reflecting the bad teaching style of my then instructors! Thank you Prof. David Krug!
Its truly amazing to listen to your lectures! I am completely a novice to Accounting and the way these lectures are going is making perfect sense to me. Excellent Work! I was just wondering if something on Annual Report could be published by you to give details on what are the different sections of Annual Report how do we read it, what is the benefits of the report from Investors point of view. Thanks much again!
This is really great thanks for the videos. It's difficult to absorb all the new material in class and it's helpful to hear a different person explain it.
Assets, expenses, losses, and the owner's drawing account will normally have debit balances. Their balances will increase with a debit entry, and will decrease with a credit entry. Liabilities, revenues and sales, gains, and owner equity and stockholders' equity accounts normally have credit balances. These accounts will see their balances increase when the account is credited. Their balances will decrease when they debited. i am studying CPA but i Love your teaching Method ---God Bless you
Student: Krug, you ever curl up in a little ball and pretend you're in your mothers womb? Krug: That is a great question, these are great questions guys. Good videos and great teaching btw
wow that a perfect explanations. Yes Account receivable is a Asset in a business.I consider cash in a business is a Asset. We students should know this well. You have to record the 55 thousand down in the balance sheet and the dates you received that money from customers.We need to record the revenue down because revenue is the profits in a business or company that is coming inside of that business. yes professor principles is one historic cost , the revenue. recognition matching and the full disclosure again under the constraints you can see cost benefits, materiality, the industry practices and conservatism this are the mainly ideas of implementation. That so great of you sir. for that sound explanations for Accounting.the increases in left side or decreases on the right I fell what you debt on the left should be credit to the right side in accounting. For the T accounting when people are making it to record. The debt or credit they should not forget to record the dates down. so the bank or company should known when they gets that money. perfectly correct.
3 kinds of accounts. Personal , Real and Nominal. Personal - Dr the receiver and credit the giver. Real - Dr what comes in Credit what goes out. Nominal - All expenses/loss are debit and all profits/gains are credited.
From what I can gather, and noone take my word on this, I picked up the following from the lecture. Assets = Liabilities + Owners Equity and Owners Equity = Owners Capital - Owners Withdrawals + Revenues - Expenses The list given was: Asset - Debit Increases, Credit Decreases Liability - Credit Increases, Debit Decreases Owners Capital/Capital - Credit Increases, Debit Decreases Owner's Withdrawals/Withdrawals - Debit Increases, Credit Decreases Revenue - Credit Increases, Debit Decreases Expenses - Debit Increases, Credit Decreases According the accounting equation, It kinda looks like the following: A = L + E The left hand side of the equation increases through debit The right hand side of the equation increases through credit The only reason that Expenses and Withdrawals are debit accounts is because they decrease the credit of the Equity accounts. So basically: Debits must equal Credits.
A=L+OE; Since OE=C(Capital)-W(Withdrawals)+R(Revenue)-E(Expenses); So A=L+C-W+R-E; And therefore, A+W+E=L+C+R Finally, A, W, E (left side) are Dr; L, C, R(right side) are Cr. This is my way to memorize this principle. Good luck!! Folks!!LOL Frankly, cards are not my types...
Learning Accounting concepts can be difficult but it doesn't have to be. The Bookkeepers are here to make learning those concepts, simple! Tweet out your Accounting questions to @BookKeeper_Help and we will explain them in the simplest ways possible.
I think remembering what Is debit balance account and what one is credit balance account it's better to keep in mind that all accounts which are on asset side such as...cash,notes receivable, machinery, are debit balances accounts and all accounts on liability side are credit balance accounts... Like Notes payable etc.
I could never figure out why this professor seemed so familiar to me and then i came across and episode of Jimmy Kimmel live. They're voices are absolutely the same!
A better way to explain debits and credits is to say that money has to come from somewhere and go somewhere else. When money is coming from within the business, it's a debit. When it comes from outside the business, it's a credit. When you get a loan, you record a Notes Payable as a credit because that money is coming from within the company. Then you record a debit in the Cash account because that money is now within the business.
It seems that there's some connection between Cash and Notes Payable. Isn't the real trick figuring out what corresponding account mirrors the one you first think of? What if you do a double entry but the second account you double the entry in is the wrong account?
getting cash is a debit taking money and giving it to someone is a credit. Investing in a company is a credit (equity), reducing the Equity would be debit. Paying a liability is a debit , but increasing the libilty would be a credit. All expenses are debit- hopes this helps
Here's an expanation of Dr and Cr from Wikipeida. In its original Latin, Pacioli's Summa used the Latin words debere (to owe) and credere (to entrust) to describe the two sides of a closed accounting transaction. When his work was translated, the Latin words debere and credere became the English debit and credit. The abbreviations Dr (for debit) and Cr (for credit) likely derive from the original Latin.
Excellent teaching. You make things so much more understandable than trying to learn online from an unengaged teacher and just a book. I wish I could go to JCCC. I found this link for flashcards, although I'm not sure if they are the exact same ones used in the class. quizlet.com/11622754/accounting-1-normal-balance-flash-cards/
eslam reda Personally, This video is BY FAR the BEST way to remember DEBIT vs CREDIT SHORTCUT TRICKS TO REMEMBER DEBITS AND CREDITS @watch?v=onq8AfjxjRo
I'm not certain why they say no to using debit/credit cards as an idea there a debit card is linked to a debit balance account, and a credit card linked to a credit balance account, no?
Krug's accounting lessons have LITERALLY saved me with my intro to accounting class in college. I hate having to basically take 2 classes at the same time but at least I don't have to pay to watch these videos. Thank you for being a great teacher and also for posting these online for us to watch for free. You are a life saver!
One of my professors taught us this way...
Debit:
W-A-D-E (Withdrawal, Assets, Dividend, Expenses)
Credit:
L-C-R as in the dice game (Liabilities, Capital, Revenues)
Hi You got a student who is watching your class now in 2023. Thank you so much for your hard work! I enjoy your class and start loving accountings. You are the best guidance!
This guy is like the best teacher ever. Great job.
Clarity is what makes a good lecturer. Thumbs Up.
I watched this last week, and I think I remember him saying that he's not sure why it's called credit and debit (or at least he doesn't know why debit is abbreviated "dr."). I couldn't leave comments on that computer, so I'm coming back to say:
debit = debere (to owe) and credit = credere (to entrust)! For instance, pay an expense by debit Expense account and credit Asset account. The asset account is "entrusting" money to the expense account. Of course, these definitions aren't very practical by now, but that's why they're dr and cr :-)
I prefer to think DR as debit record and CR as credit record. =)
I use DEALOR to remember credits and debits DEA= DIVIDENDS, EXPENSES, ASSETS; LOR=LIABILITIES, OWNERS EQUITY, & REVENUE......also what a great professor
I really struggled in accounting,, but was still able to pull off a good grade but I'm watching these videos as a review. This guy is a really good teacher. He breaks it down at the elementary level so people can understand it. Thanks.
The music is like an accounting sitcom
Anything that is normally added to the Left side of the accounting equation OR subtracted from the R side is a debit balance account. Vice versa is also true.
You don't need flash cards. If you understand this concept, you can always figure out what type of balance account something is.
Memorizing will help you know it faster, but getting the concept will help you more in the long run. BTW, this guy is a phenomenal teacher. I am learning so much so from him.
I just prefer concept based learning rather than rote memorization.
Yes, thank you!!
The greatest accounting instructor ever!!!! I love the way you teach!!!! Wish other college instructors were as detailed as you are!!!! Keep up the good work! Excited about watching all your videos!
I think the better way to remember this is "where are the accounts when they are positive?"
The accounting equation can be rewritten as:
ASSETS+DRAWS+EXPENSES = CAPITAL+LIABILITIES+INVESTMENTS+REVENUE
When the terms are shifted around until they're positive, all the account types on the LEFT of the equal sign INCREASE on the left side of the tee (Dr). All the accounts on the RIGHT SIDE increase on the RIGHT side of the tee (Cr). I finally get it, thanks to your videos!
David Krug's accounting lectures are THE BEST. He breaks it down to make it easy to understand. When I am trying to figure out a problem or read an annual report, his voice and logic are in my head. Thank you!
I'm loving each of your lessons I've taken so far, I wanna say God bless you for this opportunity you've given to some of us who are yet to take course. You're a wonderful person, thank you so much 👊👊
DEALER
DEA----LER
Debits increase : Dividends Expenses, and Assets
Credits increase : Liabilities, Equity, and Revenue
stankmaw This video is BY FAR the BEST way to remember DEBIT vs CREDIT
SHORTCUT TRICKS TO
REMEMBER DEBITS AND CREDITS
@watch?v=onq8AfjxjRo
Great teacher, I'm taking ACC 101 and my teacher just wants us to learn from the book without explaining it. I learned more from this video then a 3 hour class.Thanks
Same here. In fact, we, as students at my university, were expecting to teach ourselves the material, do the homework, and then go over the homework in class before the teacher had even taught us anything. It made learning the subject much more difficult than necessary.
I've been following these video lessons and have been acing everything so far, and it's all due to the professor simply taking the time to explain the process and then show the process in action.
I started watching these videos because I have become unsatisfied with my job in operations. I'm looking to make a career change, and, thanks to these videos, I'm thinking a job in accounting might be right up my alley. To the professor who made these videos - thank you! :)
Michael McCall Hi bro did u graduate??
The "DR" and "CR" abbreviations come from Latin "debere" and "credere" the past participles of "debitum" and "creditum".
+George Roberts III cool
I always thought it stood for "Debit Record" and "Credit Record"
He explains every term with real life example which makes everything so clear ! Best accounting class ever!
LOL i love this guy. He goes so into detail and not boring like most professors
anyone having issues with the concepts of debits and credits look up the youtube video called debits and credits, this video makes it really easy to understand and remember
Brandon Doles This video is BY FAR the BEST way to remember DEBIT vs CREDIT
SHORTCUT TRICKS TO
REMEMBER DEBITS AND CREDITS
@watch?v=onq8AfjxjRo
This is an AMAZING professor...thanks for the videos
David Krug is the man! I'm not even an accountant student or studying to be one. I just watch his videos because they are so interesting!
it is truly a pleasure to learn from you. thank you for uploading this. The quality of these videos are far better than most of the current online lectures from other institutes.
Thanks for your online classes, God bless you and give you multifold benefits of this gesture.
It was a Godsend to find this series of vids, I am currently in ACC 201 online and having it all in lecture form has been a major help!
15 years back I took accounting class.
I had two instructors teaching and helping us.
Unfortunately, none could teach me accounting.
All the things Prof. David Krug said is true.
It is amazing that he spent so much time teaching Debits and Credits - the essential foundation of Accounting.
I am good at making Journal entries now, but my grades back then will always be poor reflecting the bad teaching style of my then instructors!
Thank you Prof. David Krug!
This is really helpful. These videos are getting me ready for my first accounting class, which I will be starting in January.
Professional lecturer 👍, I like the way he teach it makes every students understand everything.
the most gifted instructor in my whole life
It's a 50 minute lecture, but it feels like a 10 minute lecture where you learn what you normally learn on a 4 hours lecture.
Its truly amazing to listen to your lectures! I am completely a novice to Accounting and the way these lectures are going is making perfect sense to me. Excellent Work!
I was just wondering if something on Annual Report could be published by you to give details on what are the different sections of Annual Report how do we read it, what is the benefits of the report from Investors point of view.
Thanks much again!
This is really great thanks for the videos. It's difficult to absorb all the new material in class and it's helpful to hear a different person explain it.
BEST Teaching! Thanks David, you made all so easy and clear to understand.
By the way I just found you, and I am enjoying your teachings,, thanks so much for sharing
Thank you so much! I've learned a lot here. He explained everything easy to understand. Best teacher ever!
This teacher is so awesome!! A very interesting introduction of accounting, I love it. Thank you for post it!!
I think, nothing could have better than this
Good professors received two assets: cash and their students gratitude. Thanks professor Krug!
Assets, expenses, losses, and the owner's drawing account will normally have debit balances. Their balances will increase with a debit entry, and will decrease with a credit entry.
Liabilities, revenues and sales, gains, and owner equity and stockholders' equity accounts normally have credit balances. These accounts will see their balances increase when the account is credited. Their balances will decrease when they debited.
i am studying CPA but i Love your teaching Method ---God Bless you
Very good teacher, the best. Lectures are awesome and easy to understand.
Student: Krug, you ever curl up in a little ball and pretend you're in your mothers womb?
Krug: That is a great question, these are great questions guys.
Good videos and great teaching btw
This is real cool, makes the basic so easy and interesting.
This was an excellent presentation. I thoroughly enjoyed it & benefited from it. Thank you!
Great, better than all other profs., Greetings from your old Germany, Hamburg.
wow that a perfect explanations. Yes Account receivable is a Asset in a business.I consider cash in a business is a Asset. We students should know this well. You have to record the 55 thousand down in the balance sheet and the dates you received that money from customers.We need to record the revenue down because revenue is the profits in a business or company that is coming inside of that business. yes professor principles is one historic cost , the revenue. recognition matching and the full disclosure again under the constraints you can see cost benefits, materiality, the industry practices and conservatism this are the mainly ideas of implementation. That so great of you sir. for that sound explanations for Accounting.the increases in left side or decreases on the right I fell what you debt on the left should be credit to the right side in accounting. For the T accounting when people are making it to record. The debt or credit they should not forget to record the dates down. so the bank or company should known when they gets that money. perfectly correct.
Thank you so much DR KRUG ,,, BEST TEACHER EVER
Very Good Job. Very simple way, very good for new students. Encouraging to continue.
3 kinds of accounts.
Personal , Real and Nominal.
Personal - Dr the receiver and credit the giver.
Real - Dr what comes in Credit what goes out.
Nominal - All expenses/loss are debit and all profits/gains are credited.
I like to remember it this way... We hold debits in "AWE". Assets, Withdrawals & Expenses are all debit balance accounts.
I'm from Ukraine and can enjoy your perfect lectures!!! This is amazing!)
Superb teaching ability. Much appreciated Sir!
From what I can gather, and noone take my word on this, I picked up the following from the lecture.
Assets = Liabilities + Owners Equity
and Owners Equity = Owners Capital - Owners Withdrawals + Revenues - Expenses
The list given was:
Asset - Debit Increases, Credit Decreases
Liability - Credit Increases, Debit Decreases
Owners Capital/Capital - Credit Increases, Debit Decreases
Owner's Withdrawals/Withdrawals - Debit Increases, Credit Decreases
Revenue - Credit Increases, Debit Decreases
Expenses - Debit Increases, Credit Decreases
According the accounting equation, It kinda looks like the following:
A = L + E
The left hand side of the equation increases through debit
The right hand side of the equation increases through credit
The only reason that Expenses and Withdrawals are debit accounts is because they decrease the credit of the Equity accounts.
So basically: Debits must equal Credits.
I just bought the book on ebay and will start doing the homework he assigned. Yay for me!
I wish he was my lecturer. Life saver! Thank you.
great teaching,keep the good work.God bless!
A=L+OE;
Since OE=C(Capital)-W(Withdrawals)+R(Revenue)-E(Expenses);
So A=L+C-W+R-E;
And therefore, A+W+E=L+C+R
Finally, A, W, E (left side) are Dr; L, C, R(right side) are Cr.
This is my way to memorize this principle.
Good luck!! Folks!!LOL
Frankly, cards are not my types...
genius
41:13 Minor correction. Liabilities is a "credit balance account". He confused debit with credit.
Learning Accounting concepts can be difficult but it doesn't have to be. The Bookkeepers are here to make learning those concepts, simple! Tweet out your Accounting questions to @BookKeeper_Help and we will explain them in the simplest ways possible.
Once again, Thank you for this great lecture. A link for the flashcards would be awesome.
Very good information for up and coming accountants.
I think remembering what Is debit balance account and what one is credit balance account it's better to keep in mind that all accounts which are on asset side such as...cash,notes receivable, machinery, are debit balances accounts and all accounts on liability side are credit balance accounts... Like Notes payable etc.
Thanks for uploading these videos,. I like your teaching style and the way you present concepts is clear and straightforward. Big help for me.
I remember it as AWE (which is a word)A is asset W is withdrawal and E is expense and its increase in debit side
Was watching today, very informative. 9th Jan 2024..
this guy is great!! keep up the great lectures, dave!
God Bless you Krug,thanks for the lectures
Love your videos.. Thanks a lot for sharing them!!
gr8 lecturer. keep up the good work profs.
Thanks teacher David, now I start to understand the T account =)
love you big dog! I'm Making Them Flash cards tonight!!
I could never figure out why this professor seemed so familiar to me and then i came across and episode of Jimmy Kimmel live. They're voices are absolutely the same!
A better way to explain debits and credits is to say that money has to come from somewhere and go somewhere else. When money is coming from within the business, it's a debit. When it comes from outside the business, it's a credit. When you get a loan, you record a Notes Payable as a credit because that money is coming from within the company. Then you record a debit in the Cash account because that money is now within the business.
It seems that there's some connection between Cash and Notes Payable. Isn't the real trick figuring out what corresponding account mirrors the one you first think of? What if you do a double entry but the second account you double the entry in is the wrong account?
so to see how healthy a company is, you look at the company's asset or its equity?
getting cash is a debit taking money and giving it to someone is a credit.
Investing in a company is a credit (equity), reducing the Equity would be debit.
Paying a liability is a debit , but increasing the libilty would be a credit.
All expenses are debit-
hopes this helps
Great instructor! I liked it.
I'm in love with this man !!! Thank you thank you thank you !!!
I loved very much the class, It is useful in many ways. How can i get the book you introduced so that i can follow at the same time doing exercise?
I'm
Horrible at math I'm thinking about majoring in accounting and I have to take a business cal class should I be worried ?
The lectures of Krug are 👌
Well done
This guy is the real deal
sir...why i should not record the increases of cash on the credit side...and decreases of cash on the debit side?
Here's an expanation of Dr and Cr from Wikipeida.
In its original Latin, Pacioli's Summa used the Latin words debere (to owe) and credere (to entrust) to describe the two sides of a closed accounting transaction. When his work was translated, the Latin words debere and credere became the English debit and credit. The abbreviations Dr (for debit) and Cr (for credit) likely derive from the original Latin.
rem486 This video is BY FAR the BEST way to remember DEBIT vs CREDIT
SHORTCUT TRICKS TO
REMEMBER DEBITS AND CREDITS
@watch?v=onq8AfjxjRo
Hi Mr Krug
Are the abbreviations Cr and Dr, from the Latin "Depere" for debit and "Credere" for Credit.
He is a great Educator!
lifesaver. Thank you very much
Hi, Great class btw. Just wondering where i can get all the work sheets for this class, i heard u mention somethin about the angel webiste?
best teaching ever
Excellent teaching. You make things so much more understandable than trying to learn online from an unengaged teacher and just a book. I wish I could go to JCCC. I found this link for flashcards, although I'm not sure if they are the exact same ones used in the class. quizlet.com/11622754/accounting-1-normal-balance-flash-cards/
thanks that`s useful
eslam reda Personally, This video is BY FAR the BEST way to remember DEBIT vs CREDIT
SHORTCUT TRICKS TO
REMEMBER DEBITS AND CREDITS
@watch?v=onq8AfjxjRo
ok i see that from very first time you tell us about this web and this very great way to learn in thank you and thanks for your interesting
Nice find, thanks.
Great instructor!!
you help me a lot Dave! Thanks!
amazing teacher !!! : )
I'm not certain why they say no to using debit/credit cards as an idea there
a debit card is linked to a debit balance account, and a credit card linked to a credit balance account, no?
Great teacher, a lot better than my current one. Where can I get the flash card info?
djtonypitt This video is BY FAR the BEST way to remember DEBIT vs CREDIT
SHORTCUT TRICKS TO
REMEMBER DEBITS AND CREDITS
@watch?v=onq8AfjxjRo
Is there a video on Capital Structure and finance Costs by?
goodwork teacher.
is it safe to say that all liabilities are recorded on the Credit side of the ' T ' account and all assets are recorded on the Debit side?
Why prepaid accounts isn’t an unearned revenue ？？ company haven’t delivered any product or service yet
I simply laugh when hearing all the guys saying
debit means left,credit means right...
But it works!!!