UGBA 102A at University of California--Berkeley


1 T-Accounts
T-Acounts are the 30,000 ft. view of your accounts. They help you quickly glance at an account and see what is going on inside of it.
2 Debits and Credits
Debits and Credits are the words of accounting. You must understand debits and credits if you want to be able to pass this class.
3 Determining Normal Balances For Assets & Liabilities
A "normal" balance just means what side of the account the increases go on. Here we're going to determine normal for Assets and Liabilities.
4 Determining Normal Balance for Shareholder's Equity
Shareholder's Equity has a normal balance, just like every other account. It's pretty simple to determine, not unlike Assets and Liabilities.
5 Normal Balance Shortcut: Double Entry
I told you that understanding normal balances is super important, so we're not done yet. This shortcut has to do with Double Entry Accounting. Excited? You probably should be.
6 Normal Balance Shortcut: DEAD Mnemonic
You'll be DEAD if you forget this. Forgive my cheesiness.
7 The Journal, Ledger, Trial Balance
The Journal, Ledger, and Trial Balance are how we keep track of what is going on day-to-day in our business.