FRA Debits & Credits (DEAD CLIC)

Sazpots

Hi
Good luck to anyone doing the FRA exam on Wednesday.

Saw this and thought it was quite a helpful reminder. It's on the e-learning revision slides( http://www.aat.org.uk/elearning/rt_unit5_fra/ )

DEAD CLIC

To increase an account you:

Debit
Expenses
Assets
Drawings

Credit
Liabilities
Income
Capital

embica

Don't know if this will help: we learnt CLIP:

Capital
Liability
Income
Provision

And they are Credits as the first word starts with the C

any2002uk

fantastic idea! your idea is better than AAT. But they use opposit Debit=Credit i don;t know why they mix it up.

any2002uk

P? provision is it same as capital?

embica

Provision isn't the same as capital

Capital is what is owed back to a business' owner - eg - money invested to start the business - a vehicle that the ower "donated" for business purposes

Provision is where something is expected to happen - eg provion for bad debts... it's like trying to work out what is going to be in the bad debt account before it really happens.

I hope that makes sense If not there is lots about it in the text books

any2002uk

how did you add the smile emotion? i got the remove text
bold,
italic
underline
colour
insert link
insert picture
quote

but no list of emotions please pm me

square-peg

use 'go advanced' rather than 'quick reply', and you'll get the options you want.

any2002uk

thank you

:thumbup1:hi

thank you

today i learnt how to add emotion on AAT forum!:thumbup: