The secret of debits and credits

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  • čas přidán 28. 08. 2013

Komentáře • 297

  • @johnb9005
    @johnb9005 Před 2 lety +7

    Thanks. I give you credit for having one of the clearest and concise explanations. Using the zero and the red and green arrows are very beneficial for those who are visual learners. I have been searching for an explanation that would help me grasp how debits and credits work, and yours is the one!

  • @maringuta6667
    @maringuta6667 Před 5 lety +10

    I've watched soooo many videos trying to understand this concept, but it finally clicked with your visual! Thank you for uploading!

  • @mcash2508
    @mcash2508 Před 3 lety +11

    I've been trying to make sense of debits and credits for 6 weeks of my first semester of school for my associates in accounting and I have been so lost. This helped tremendously!

  • @manaralsalim7530
    @manaralsalim7530 Před 3 lety +7

    Your a living legend my man! I’ve been taking accounting for just over a year and never could wrap my head around the whole debit and credit situation but thanks to ur video I feel comfortable with this topic
    THANK UUUUUUUUU

  • @chantastique
    @chantastique Před 4 lety +7

    Incredibly helpful way of explaining to a math inclined, visual learner like myself. Bravo!

  • @marysandee7647
    @marysandee7647 Před 4 lety +7

    FINALLY! Thank you for a tool to use when trying to figure out where to place the debits and credits. The arrows honestly simplified this for me and took away the great mystery that was leaving me to be so lost!

  • @sbw1242
    @sbw1242 Před 6 lety +16

    Wow, you are amazing and I love the Arrow analogy. You make sense and it's very helpful! Thanks so much!

  • @mistybale3920
    @mistybale3920 Před 7 lety +21

    You my man are a bloody genius!!! Thank you for explaining it so I can understand. I have a test to complete and could NOT get this. Now it's simple. THANK YOU!

  • @RapidEye1
    @RapidEye1 Před 5 lety +17

    Incredible! I never comment, but this time i had to. So clear and simple explanation. I have been wracking my brain for days to try and understand balance sheet accounting. This should be taught just like this in every accounting course!

  • @pora4
    @pora4 Před 6 lety +226

    12 weeks of uni, didnt get it, 5 mins here, understands it completely hahaha

    • @giulianasilva3579
      @giulianasilva3579 Před 6 lety +6

      Strongly agree.. I trashed $500 in my accounting class.. while here I leaned it for free..

    • @isapius2823
      @isapius2823 Před 5 lety +1

      hahaha very true.... now for i do most of leranings on youtube let it be on sickness, graphics, coding..all on youtube cause i easily understand here

    • @rajaismail8490
      @rajaismail8490 Před 5 lety +5

      So true! I watched hours and hours of videos, and still didn't get the Debit vs Credit concept, until I landed on this one. This has a simple formula to understand the two. Going towards or away from 0, is the best concept, a fundamental concept, to understand Debit vs Credit. Hats off to Al Wallace!

    • @TebogoMotlhale
      @TebogoMotlhale Před 4 lety +2

      Yep ! i Don't remember how MANY times i've told people that if your child isNT excelling in Maths at school, the problem is . . . . . THE TEACHER, period ! Not that the teacher is GENERALLY BAD, but to be exact, the teacher is GOOD for OTHER kids, but his style of language, communication and choice of examples, do NOT match your child's WAY (style of language, comm., examples) of perceiving things, Teacher-to-Learner brain-wiring mis-match !

    • @DurgaTelugu76
      @DurgaTelugu76 Před 4 lety

      Hi sir nice Explanation of Dr.Cr. concept ...

  • @farizanroslan
    @farizanroslan Před 4 lety +4

    Crystal clear! Thank you for explaining and sharing this wonderful lesson.

  • @abigailb8102
    @abigailb8102 Před 6 lety +3

    Thank you so much for this video! I could not understand the debit/credit concept in my accounting class for anything. Now it makes perfect sense!

  • @yeadon97
    @yeadon97 Před 6 lety +10

    I've been struggling so long now but finally got it thanks to this! Thank you sir!

  • @morganhayes728
    @morganhayes728 Před 5 lety +6

    Why did my professor not explain it this way? Thank you so much! You are a blessing.

  • @andrewfolse585
    @andrewfolse585 Před 6 lety +3

    Hands down BEST explanation on CZcams!!!!!! Good work and thank you!

  • @WeQuiltStudio
    @WeQuiltStudio Před 5 lety +1

    Al, thank you sooo much. This is the best accounting tutorial I have ever seen! I luv you for this!

  • @Engine600
    @Engine600 Před 7 lety +1

    Thank you for explaining so we could understand it. I could not get it through my head until I watched.

  • @edwardbearjames2916
    @edwardbearjames2916 Před 4 lety

    I'm really impressed!! This is one of the hardest parts and you nailed it! Thank You! Great job!

  • @davidkristianto2634
    @davidkristianto2634 Před 6 lety +1

    mind blown.... so this is how you visualize it! you're a life saver sir, thank you very much for this explanation.

  • @PPL4LF
    @PPL4LF Před 6 lety +3

    Al, that was very easy to understand, thank you for making this recording, I look forward to watching your other instructional videos as well.

  • @lexorandipremier9427
    @lexorandipremier9427 Před 5 lety

    This is the best explanation of debits and credits I have ever seen. Ya see... HOW things are taught is as important as WHAT is taught. Well done, Al Wallace!

  • @katherinegarcia4338
    @katherinegarcia4338 Před 4 lety +1

    Spent 3 weeks in class lost with this concept, literally 5 minutes into this video it clicks. Thank you for explaining this!!!

  • @cliffsmith4438
    @cliffsmith4438 Před 6 lety +2

    Thanks! Worked in a bank when i was younger, started my own business and struggled to understand why everything is backwards in accounts ever since. Never seen it explained till now.

  • @Texas_Painter
    @Texas_Painter Před 6 lety

    I FINALLY understand!!!!! Thank you for taking something so confusing and making it seem SO simple!!! Brilliant!!!

  • @christibell7436
    @christibell7436 Před 4 lety +5

    Oh. My. Gosh. You actually made it make sense. I have been so confused for YEARS. THANK YOU SIR! You rock. Thank you for having a passion to teach. Thank you for teaching me.

  • @hychua6452
    @hychua6452 Před 3 lety +1

    Your explanation was excellent. Clear and simple to understand. Thank you!

  • @esmeraldamolina8769
    @esmeraldamolina8769 Před 6 lety

    Thanks for sharing! You simplified the concept tremendously. God Bless!

  • @genevieveferrel8308
    @genevieveferrel8308 Před rokem

    Wow!! Awesome video. The simple hands-on method that you teach made so much sense vs. having to guess which side the values are to be placed. Thank you

  • @neebomar
    @neebomar Před 5 lety

    Thanks so much for your video. It turned on the light and answered the question about banking!

  • @leaneleonor954
    @leaneleonor954 Před 5 lety

    I just want to thank you!! Because with your technique i was able to help my sis with her assignment 😊😊😊😊😊

  • @BlueMoonKhoas
    @BlueMoonKhoas Před 5 lety +2

    You saved my career choice! The towards zero concept really helped me connect some important dots!

  • @davekrug5465
    @davekrug5465 Před 4 lety

    This was the best explanation of debits and credits that I have encountered. I just couldn't wrap my head around it until now. This has helped me tremendously in my Accounting I class. Thank you!! Thank you!! Thank you!!

  • @fabuhaimed
    @fabuhaimed Před 4 lety +1

    I really appreciate you, you master it very well. I was confused and could not absorb it. With your explanation, I will not miss it at all.
    Thank you

  • @jennaburris9182
    @jennaburris9182 Před 5 lety

    I'm currently in an online 8-week Accounting class through Indiana University that is completely self-taught. I was really struggling to grasp the concept of debits and credits, but this one video helped me so much and made the explanations in my textbook so much clearer!

  • @kaygeebee
    @kaygeebee Před 4 lety +2

    Fantastic. I also like to classify income and expense accounts separately so you can then demonstrate the linkage of the Income Statement to owners equity. Keeps things really clear.

  • @andrewasonibare
    @andrewasonibare Před 4 lety +1

    You, Sir Al Wallace, are a true hero, a hero's hero. This should be a Ted talk - thank you for taking the trouble to teach it!

  • @trishao3308
    @trishao3308 Před 6 lety

    thank you!! I'm so happy I found this video. I was so lost about debits and credits. life saver : )

  • @daltonm8475
    @daltonm8475 Před 6 lety

    the feelings to finally understand this is incomparable, great explanation

  • @japhethlau5456
    @japhethlau5456 Před 6 lety +1

    I cant thank you enough. Brilliant Work

  • @angelenicole1243
    @angelenicole1243 Před 3 lety

    That 0 just saved my life I've been watching CZcams videos since 9 this morning and 2 days chapter reading and you put it in a way I can find the understand thank you so much

  • @user-zf6sl5hv9c
    @user-zf6sl5hv9c Před rokem

    OMG - I have just watched about 6 videos trying to understand this and FINALLY I get it.
    You have explained it well! Thank you :)

  • @jspoosener6729
    @jspoosener6729 Před 5 lety +1

    This helped so much -- thank you. What a beautiful accent you have.

  • @TheyDontKnowImHere
    @TheyDontKnowImHere Před 4 lety +3

    Just wanted to say thank you. I’ve been struggling in my Accounting class for weeks now; everything seemed so complex and convoluted. This method is so beautifully simple and intuitive. You really made my day. I have some hope walking into my midterm this week. Thank you again so much for sharing this!!!!

  • @joecubjr
    @joecubjr Před 6 lety

    Thank you for helping me to finally comprehend for my Intro to Accounting class. I was starting to think accounting wasn’t for me. :)

  • @piranilife5197
    @piranilife5197 Před 3 lety

    I have watched 15 videos trying to grasp this. Definitely the best video I have seen!

  • @kseeley7082
    @kseeley7082 Před rokem

    Wow! I understood immediately. I am in week three of Accounting one, training to be a bookkeeper. I already get it thanks to you!

  • @jordynbailey2987
    @jordynbailey2987 Před 4 lety

    thank you so much for this video i’ve been trying to understand this for hours and i watched your video for a couple minutes and understood it!

  • @kulveit2901
    @kulveit2901 Před 2 lety +4

    Genius. Although I've already understood the normal balances, but your perspective is really unique and easier to master. Many of my classmates are still confused at this matter, and my instructor can not find the other way to help them out. I gave this video thumbs up when I watched it at the first minute.

    • @Economics21st
      @Economics21st Před 8 měsíci

      Try this one: Anything which increases A-L-E is a debit. Anything which decreases A-L-E is a credit.

  • @philipweer7389
    @philipweer7389 Před 6 lety

    Wow!! Been through a number of videos trying to understand this, FINALLY !! Accounting made VERY easy. Thank you, thank you. Please post other accounting topics.

  • @angeliquecordes956
    @angeliquecordes956 Před 3 lety

    I have been absolutely stumped by the concept of WHY things worked the way they did with T accounts in the expanded equation, and suddenly the lightbulb went off. Thank you!

  • @neondiamondsaquaberry17

    Wow priceless video right here, I’m starting an accounting class in 4 weeks and this will be a tremendous help, thank you sir !

  • @TheSamilyn
    @TheSamilyn Před 4 lety

    Excellent explanation, would have helped so much when I was still attending. Thank you for posting, I see in the comments it has helped many others.

  • @catsarerude
    @catsarerude Před 5 lety +2

    Thank you!!! Much easier when you have such a nice voice too!

  • @Cibesuki
    @Cibesuki Před 5 lety +1

    Thank you.
    And Thank You for explaining why I was confuse in the first place.

  • @jodikelley1854
    @jodikelley1854 Před 5 lety

    4 weeks of Financial Accounting I class and watching this video I get a lot better understanding after 12 minutes of video versus textbook reading after 4 weeks.

  • @jendean6869
    @jendean6869 Před 4 lety

    Really good explanations with the examples - Thank you

  • @Techwem
    @Techwem Před 6 lety

    You deserve millions of likes from my side...brilliant explanation and clarity personified

  • @donnagarcia2590
    @donnagarcia2590 Před 4 lety

    Thank You! Great visual and explanation.

  • @Oscar-rd3bm
    @Oscar-rd3bm Před rokem

    Had so much trouble understanding other accounting videos you explained it so well that it was easy to understand. Others teach you like your in Harvard but you teach it so even a 6 year old can understand. Thank you very much.

  • @henry6479
    @henry6479 Před 6 lety

    I've been through so much videos and lecturers explaining it to me, i finally can say I understood the logic. Your technique is amazing!!! Thank you so much! I nailed my MBA because i could not understand that tiny details!

  • @carlosmunoz733
    @carlosmunoz733 Před 5 lety

    Amazing! I found it so helpful. Thank you very much for your help!

  • @Masteridea101
    @Masteridea101 Před 4 lety +1

    man.... Great one.. 6 hours of mine cleared in 5 mins.. God bless u

  • @fredsalfa
    @fredsalfa Před 4 lety

    Thanks. Took me years to figure this out. You explained it in 10 mins.

  • @billygoe6179
    @billygoe6179 Před 6 lety

    This is an excellent explanation of debits and credits.

  • @beatrizaguilar5705
    @beatrizaguilar5705 Před 2 lety

    OMG, Thank you so much!!!! You are AMAZING!!!! Please keep making more great videos!!!

  • @jamilajones2877
    @jamilajones2877 Před 4 lety

    You are the greatest being of all time for this video!!!!

  • @mylilpc
    @mylilpc Před 3 lety

    OMG thank you for this! The diagram helps so much.

  • @marissauzeta7174
    @marissauzeta7174 Před 5 lety

    the red and green arrows made it easy to understand where to place the transaction, thanks

  • @lauriereinhardtreif8169

    Thank you so much!! I could not understand this credit and debit concept. I was equating credit with plus and debit with minus and I was so confused! This make so much more sense! why don't they explain it like this in school?? feels good to get it!! I want to hug you.

  • @ahmedsurajuddin967
    @ahmedsurajuddin967 Před 6 lety +3

    this is by far the best technique to use debit/credit jargon !!

  • @lu1think
    @lu1think Před 5 lety

    great content! THANKS from the bottom of my heart :D

  • @mzerocoolm1984
    @mzerocoolm1984 Před 3 lety

    This has to be the BEST video ever explaining debits and credits!!!

  • @user-th2mf6bb4x
    @user-th2mf6bb4x Před 11 měsíci

    I have always struggled to understand and remember debits and credits. However, after this video I won't forget thank you very much.

  • @AnotherAccount5
    @AnotherAccount5 Před 6 lety +15

    Nailed my midterm because of this. Thanks!

  • @Adivhaho1
    @Adivhaho1 Před 4 lety

    Thank you, your explanation was simple and easy to grasp.

  • @jayvincent1617
    @jayvincent1617 Před 5 lety +1

    Thanks for this video! My textbook confused me, but this cleared it up!

  • @Mexicana73
    @Mexicana73 Před 4 lety

    Very well explained. Thank you so much!

  • @Tinatinn
    @Tinatinn Před 5 lety +3

    Thanks for a perfect explanation!

  • @salshe1
    @salshe1 Před 6 lety

    This has been the best video ever on this topic!

  • @maddelenaponter2557
    @maddelenaponter2557 Před 5 lety

    This video is brilliant! Highly recommend.

  • @leemcc8649
    @leemcc8649 Před 6 lety

    This is what I needed! Now everything makes sense!

  • @colond
    @colond Před 3 lety

    You took a confusing concept and watered it down to simplicity ... nicely done ... thanks for taking the time

  • @kolinnhtooaung2408
    @kolinnhtooaung2408 Před 5 lety

    Thanks for simple and effective tutorial!

  • @accountingforbeginners9210

    There is a lot of good staff here,well done

  • @phanikarthikcs1552
    @phanikarthikcs1552 Před 5 lety

    you made this so easy! thanks a lot!

  • @mohamedfarah7762
    @mohamedfarah7762 Před 2 lety

    Your explanation is excellent thanks a lot.

  • @novellsaleh2434
    @novellsaleh2434 Před 4 lety

    very helpful, you are such talented teacher.

  • @sachinkishore4115
    @sachinkishore4115 Před 5 lety

    thanks a lot for your excellent explanation .

  • @daphneschristiance2425
    @daphneschristiance2425 Před 5 lety +1

    What a great explanation- thank you

  • @emagdali
    @emagdali Před 5 lety

    Short and consistent. Good work!

  • @sobeg
    @sobeg Před 3 lety

    Classic discussion and presentation. Nice.

  • @odonodave
    @odonodave Před 4 lety

    You are a legend!!! Thanks mate!

  • @yohanneslucky5538
    @yohanneslucky5538 Před 3 lety

    Thank you for educating me.

  • @HP-jz9jd
    @HP-jz9jd Před 4 lety

    The first 1:39 of this video is exactly what I've been searching to understand this whole time! Thanks lol

  • @kiwikaner
    @kiwikaner Před 7 lety +1

    Brilliant! Thank you

  • @jonadithcantilang5117
    @jonadithcantilang5117 Před 5 lety

    i learn a lot from here..the demonstrator explain clearly

  • @tjo230
    @tjo230 Před 5 lety

    Whaoo. In 12 minutes you simplified an otherwise complex process. Thanks

  • @donnaliendlovu28
    @donnaliendlovu28 Před 5 lety

    This really helped a lot
    Thank you

  • @johnquealy9426
    @johnquealy9426 Před 4 lety

    Good video with some really interesting stuff at the end.

  • @Hugo-xj2mj
    @Hugo-xj2mj Před 3 lety

    This video is so good my teacher showed it to us in class, and I'm from Portugal, thank you sir!