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Memories

August 2007
September 2007
October 2007
November 2007
December 2007
January 2008
February 2008
May 2008

Wednesday, August 29, 2007


For the past two days, I had been attending a gruelling accounting workshop. I am really glad its all over. And all I can say to all aspiring accoutants out there "Please think twice." haha. Maybe its not that bad. I don't know. But the workshop which was for those who have zero knowledge in accounting was not useful at all. The lecturer lectured as if we use accounting terms in our daily conversations. How do we understand concepts when we don't even know the meaning of words that are used??

From the workshop, I learnt..

A=L+OE (Assets= Liabilities+ Owner's Equity)
Since OE=C+P-D (Owner's Equity= Capital+Profits-Drawings)
A=L+C+P-D (Assets=Liabilities+Capital+Profits-Drawings)
Since P=R-E (Profits= Revenue-Expenditure)

Drumroll please.... A=L+C+R-E-D ( Assets=Liabilities+Capital+Revenue-Expenditure-Drawings)

A+E+D=L+R+C

Any increase on the LHS, will be Debit in nature
Any increase on the RHS, will be Credit in nature

Its really no wonder that accountants can find employment anywhere. Is it because of the above that nobody wants the job, hence creating an excess demand and shortage in supply?

Please excuse me for being boring.

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Feathers

5:50 AM