Unknown Secrets of Financial Accounting related to Journal Entries ~ (Concept Builder Series)
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- Опубликовано: 30 июл 2020
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In this lecture I was responding to two unknown secrets of Accounts :
1. Why 'Debit' is abbreviated as 'DR.' although its spelling has no 'R'
2. Why in 'Journal Entries' we use 'DR.' at the end but 'TO' at the beginning.
Few historical facts about Debit and Credit:
The first known recorded use of the terms is Venetian Luca Pacioli's 1494 work titled 'Summa de Arithmetica, Geometria, Proportioni et Proportionalita' (In english - All about Arithmetic, Geometry, Proportions and Proportionality). Pacioli devoted one section of his book to documenting and describing the double-entry book keeping system in use during the Renaissance by Venetian merchants, traders and bankers. This system is still the fundamental system in use by modern bookkeepers.
It is sometimes said that, in its original Latin, Pacioli's Summa used the Latin words debere (to owe) and credere (to entrust) to describe the two sides of a closed accounting transaction. When his work was translated, the Latin words debere and credere became the English debit and credit.
Under this theory, the abbreviations Dr (for debit) and Cr (for credit) derive directly from the original Latin.
However, Sherman casts doubt on this idea because Pacioli uses Per (Latin for "by") for the debtor and A (Latin for "to") for the creditor in the Journal entries. The third edition (1633) of Ralph Handson's book Analysis or Resolution of Merchant Accompts and that Handson uses Dr. as an abbreviation for the English word "debtor." and Cr. as an abbreviation for the English word "creditors."
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whoever has asked about r in Dr is very intelligent. I wonder why this question didn't come up in my mind .
All r in ur first accounting book,jo ussko achhe se padha hoga age koi dikkat nahi hogi
@@storytimewithNB10ksubscriber kindly share the name of the book and its author name
@@syedshah099 double entry book keeping,kalyani publisher ka lelo
Thought Debtor
Creditor logic 😓
@@storytimewithNB10ksubscriber thanks so much
Once i was studying and my sis (of 3rd std) just asked me randomly what is dr. and cr. (Because i was preparing ledgers nd mentioned it on top), I said its short form for debit & credit..... Then she asked me that debit doesn't have 'r' in the spelling.... I was speechless , I couldn't answer her bt thought that y I never had this ques....we have confined only our mind till books only bt she , in 3rd std has a wider horizon......
Thankyou for this info sir
Wow .!!
So true
Can we trade sisters?
chal juti😂😂
That's why bolte hai baccho ka cognitive mind jaada work karta hai bado se hum life mein itna ulajh jaate hai ki dyaan nahi dete.... After seeing the caption of this video...mein soch rahi the use baat meire mind mein Kun nahi aaye
I asked the debit - Dr. question to my teacher in my class 11th ,but she didn't gave the answer !
But , today I came to know this !
Thank you sir ❤️🙏
Jo students sirf account m practical pr depends rehte he wo thoda sa theory me weak reh jate h.... Aur ye question theory based h.... Isliye student life m practical question se hi time nhi milta jo theory padhe aur n hi bacho ko account ki theory m maza aata....... Lkn zyada tar theory practical s b clear hojati
Mee to bro
Main nahi pooochta apni teacher kyuki unhe kuch nahi aata.. although wo govt. teacher hai fir bhi....sale
Few people know the logic behind this.When posed this question,most are unable to answer.
Mere professor ne muje btaya tha k... Yeh aise hi chlta aa rha h.. apko bhi aise hi likhna h 😂😂 thank you Naresh sir 🙏
This man hasthe solution to all accounting problems
Keep learning..
And ...
Don't forget to...
Smile ☺
I have Asked this kind of Crazy & Good Question (my Dregree Batch was 2014 & my PG Batch was 2016) to my LECTURERS & H.O.D end of the Results were COLLEGE SYSTEM FAILED me in Each one Subject in Three Years of Degree.... I WANTED to became as CA but now I am WORKING under CA as his Driver & Cashier.... Very much Thanks to 🙏👍👌👏 RUclips that this kind of LECTURES & GURU'S are sharing their KNOWLEDGE & WISDOM to Students......
Really
Why you stop study CA?
I remember studying this back in time. It’s like Sodium’s symbol is Na whereas Sodium doesn’t have N or A. It’s because of its name Natrium.
Yes
I am your big fan. We need more frequent contents on these kind of accountancy basics.
Thank you sir. I was cracking my head to conceptualise Deloitte tax analysis. Now I really understood that Dr. Doesn't mean Debit records.
In 2013, our professor asked this question but today I able to know...🙏🏻
Woww, well explained sir, a basic point which we never observed even after doing accounting for a decade. 🙏🏼
Ataullah khan,, R u an accountant
Actually debere and credere are past participles of debitum and creditum i.e derived from Latin, Btw thank you sir for this video 🙌
Exactly.....👍
Thank you sir ❤️
Ye consept Jaan kar acha laga . Sir ayesa hi consept builder series chalate rahiye.or ayesa baat bataye Jo ek CA ko pata hona chahiye qki ham abhi 12 me hai or hamko CA banna hai .
App ka video ham ko bahut acha lagta hai or ham 11 se aapka video dekhre hai or 11 ka exam bhi app ka video ko dekh kar diye the or ham 76% percentage laye hai acct me 80+ aaya . ❤️
So, agar aap ye message seen kiye hai to please unknown consept dete rahiye
In my whole B.com career nobody covered this type of things. Thank you for this amazing video.
Sir u r great ur explanation is superb
Whenever I have doubt I came on ur channel n all doubts r clear
This question always comes in my mind that why we use dr and cr but after watching your vdo this topic is clear to me.
I had asked this question 20 years back in my college during account class
Thank u very much sir, your style of teaching and presentation is not only motivating but also to attract towards your any topic,pls do some gst, tds, and IT related topics.
Thank you so much sir. Yeh logic pata hi nahi tha . Aaj apki wajah se pata chala❤😊
This series is awsome sir
mere dimaag me bhi yhi question aaya tha 11th me but maine teacher se pucha ni.. maine socha arre chhdo kya hi krna ... thankyou sir for this video 😊😊😀
I m from pakistan..sir u r living legend ..always i take your help to solve my accountancy problem
Wha pe Bache padhte h Kya ?
Wo bhi account ?
(While you are reading 💣💣💣💣 blast 😉😉)
@@saketverma6772 yaha par bachay nahi partay account ...baray ho kar account partay hai...
Thank u so much sir✨🌈
Meko bahot curiosity hoti thi yeh question lekar but aapne doubt solve kardiya 👍
I am sooo happy to learnt 🤞
You r an artist you made accountancy like a butter
So much helpful nd logical content.........sir u r requested to upload more
Never thought this till now, my mind 😳
02:11 is the answer to why Debit is Dr.
Sir it's really quite informative . Thanks
Session was super and very productive 👍😊🤗🤗🤗
Excellent explanation sir 👏👏👏👏👏
Love you sir love you thankyou so much sir too solve this problem I was confused but now I am very satisfied.
Really you are great teacher sir 🙏
Thanks for educating me. ❤❤
I was searching this answer
Than you sir
Very nice explaination sir👏🏻🙏🏻
It is such an amazing question 😍😍😍
You r the best teacher
Thank you sir, So nice to hear you as always.
#TotalCommerceDrSumit
Sir we need more videos like this ❤️
Love from Pakistan 💕
Hats off to your explanation sir
Very knowledgeable video sir.🤟
THank you and trying to learn accounts so that I can be one and be a tally operator.
Not from commerce background at all and hopefully will learn accounting so that I can be an accountant without degree.
Amazing logic 👍 sir
Super explanation sir thank you
Sir ... Thank u so much for such knowledge
Amazing explaination sir wow 🙏🙏🙏🙏🙏🙏👏👏👏👏👏👏👏👏👏👏
Sir you are genius👍
I had asked this question to my teacher but he always ignores it 🤔 so thank you😍
Superb my friend
please share me you email id my id is omerdraz65@gmail.com, i want to send you a sheet and aim to detail discuss with you , my whats up number 00923427935933
Same happening with me
I had always tge debit question since 11th class...thanku sir
u deserve million
Love from pakistan although i'm chemical engineer but he is excellent teacher of commerce sometimes i want to know some knowledge of accounting for my part time business I watch his videos. Thanks a lot.
Super explained..!!
Excellent sir !!!
Sir pls make a video on difference between revenue expenditure and expenses
Informative👌
Simply wow
Awsome explanation sir. Thaaaank u very much. I need ur kind help in another problem sir.
Please help us, me in special, how to create the journal entries of a cold store firm.
Thank you very much sir 🤗
Wow bhaiya, good going
Respected Sir In accounts Double entry system follow Debit Record and Credit Record In ledger Account format As per this concern Dr is a short form of Debit Record and Cr is short form of Credit record .... Shriram Joshi
Thanku sir for making this video
I was asked this question in a PGT Commerce interview and i answered the same way as Sir has explained but the interviewer was not satisfied. I did not argue at that point but after watching it again, it is confirmed now that i was right.
Please Check out my comment
Sir,
In a Journal entry we have debit line and credit line. The debit line ends with Dr(Debit or Debere) Where as in the credit line there is no mention of Cr (Credit or Credere)
But credit line start with To
Can we start credit line with Cr. to indicate these accounts are credited. I think this will make Students to understand better and avoid confusion.
Example
Machinery a/c Dr 10000
Cr To Cash a/c 10000
By writing journals like this, the rules of Double entry are also effectively observed, applied and understood.
👍🏻💯superb👌
Credit is denote to 'To' because credit denote from credito (Italian word)
Great person 🙂
u r genious sir
good afternoon sir,
sir management accounting me marginal costing ke under merged companies ka break-even kese calculate kiya jata hai plz make a vedio on this question.
Great sir thanks🤜🤜
Sir plz upload lecture on financial management bond valuation
Thank you, sir. 😊
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..
...
Sir,very nicely said that to reduce the strain on eyes,credit is written beneath debit ,but why word " To" why not " At" why not "of"???
Sir please make a video on Contingent Assets and Liabilities. I'm a CA Foundation Student appearing in Nov., 2020.
Thanks a lot sir ......
Interesting video
Superb sir ...
Sir please put english subtitles,🙏
Thanks
Good exp
Pls I can't understand. Is this video available in English?
Sir accounting rules ka logic plz bataae traditional aur modern approach m dr. Aur credit apply krte hue
Thank you Sir
Sir please upload video on investment accounting under as-13
Love you sir, from PK
Awesome
Sir mere ko chartered accountant balance sheet, income statement and cash flow statement kaise banate hai, baitaiye na.
Thank u sir😇
Bahut acche
Thank you
Sir u are supbbb teacher in the world thnku sir , sir kya sold or sales and stock and inventory me kya different ha.
Thanks sir
Shukriya sir
You are a living legend sir..... I have a computer science background..but how easily you taught is exceptional... ❤️ from kashmir
Sir balance sheet mai last me dr aur cr wala side q change ho jata hai
Love You Sir
Thanks ❤️
Wow excellent sir 🙏 most of teachers using as "Debtor" While reading journal entry....i need one clarification about journal entry reading..
Ex: cash a/c...Dr
To sales a/c
In this entry how to read "debited" Or "Debtor " Plz suggest me sir which one is better to use while passing journal entry..
Correct is "to be debited"
Thank u sir
Sir, I have a question when we make ledger account or trial balance why do we write items of Debit nature first(left side) and then credit items (right side), why the credit side items are not posted on left side and so does debit side items on right side
Or balance sheet, why we put liabilities (on left side-horizontal form) or Equity and liabilities first then asset.
I am not sure but because debit what comes in and credit what goes out na!! Toh pehle input likha jata jiske bd output nikalta hai!!
Really goooood sir.... that's was fabulous ✨🤩
Great 😎🥰