05-25-2011, 04:17 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by bilal azhar</i>
<br />how would u define debit and credit?
i have been studying accounting for the last two to three years and has studied almost all famous books of accounting like shukla and gupta,frankwood,pbp,pac papers etc but has not find a definition of debit and credit.debit credit rules are given in every book but how would u describe to a layman that what is debit and credit.
one of my accounting teacher,not a chartered accountant gave the following definiton of debit and credit
"when we divide a page into two parts,the left side is called debit and the right side is called credit."
i think that above definiton is not correct.would some body explain to us the debit/credit definition.
bilal
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
<br />how would u define debit and credit?
i have been studying accounting for the last two to three years and has studied almost all famous books of accounting like shukla and gupta,frankwood,pbp,pac papers etc but has not find a definition of debit and credit.debit credit rules are given in every book but how would u describe to a layman that what is debit and credit.
one of my accounting teacher,not a chartered accountant gave the following definiton of debit and credit
"when we divide a page into two parts,the left side is called debit and the right side is called credit."
i think that above definiton is not correct.would some body explain to us the debit/credit definition.
bilal
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
