Welcome to CPA Strength, This is Jonathan Dorn licensed CPA in the state of
Florida
let's get it in, I want to show you, one of the you the only accounting equations
- you're going to ever need, this is day one stuff and this Will help you carry through to a
CPA if you choose to be one
I still write it on my papers although this what I'm going to write down is
ingrained in my mind forever
so let's get it started what what you're going to want to write is DC / ADE / LER
so you got that DC/ADE/LER just somehow memory ize that I don't care how
you're going to write it just memorize it ok ok are you going to do it just do
it
so why is it important we'll be right back up
already back up over here DC a blur
and remember it here
we're going to debit these for debit
let's see this for credit
debit
it
credit
now accounting these were always always going to equal of it's going to equal
the credit
it's kind of small. You have to see the Debit it's very
important
Debit
Now in the accounting world Debits equal the credits always always always always always so
now for the Debit side we've got the aid got the ADE
and then for the credit side we've got LER
L E R
DC/ADE/LER DC/ADE/LER on ADE we have assets
and then we have Draw (Withdrawal)
ok then we have for the e
expenses all right, now for the credit for the credit side with LER we have Y
L I A B I L I T Y
you got your EQUITY
all right you got your REVENUE
you spell - oh ok so that's what you got
now this is all you'll ever need and it
it totally works this is day one stuff you just have to go with the flow for a
while when you're first starting now
ok but DC/ADE/LER
I have an accounting degree from Florida Atlantic University state of Florida
gave me a CPA license and i still use this
so although it's in my head but I think I was going to end this one up just
learned this write this down
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statement balance sheet so subscribe to the page
see more cpa strength because i am a lot
we kind of weak but i am going to i am going to be the strong cpa in Florida
eventually America so