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FABM 1: Rules of Debit and Credit by Dionel Rizo is a document available to read on EtoBox.

What is FABM 1: Rules of Debit and Credit about?

The document discusses the fundamentals of accountancy including: 1) The double-entry system of accounting where every transaction has a corresponding debit and credit entry. 2) The rules of debit and credit where debits increase asset and expense accounts, and credits increase liability, equity, income, and drawing accounts. 3) The accounting cycle which is the process of analyzing, recording, and reporting business transactions from occurrence through the financial reporting process.

Author

Dionel Rizo

Language

EN