Students who learn financial literacy skills gain a wealth of knowledge that will yield returns well into their future.
The beginning of the school year is probably right around the corner for you. You might be thinking about how you want to decorate your classroom, looking for back-to-school activities and getting-to-know-you ideas, and making copies of your syllabus. You may meet with your school and/or department prior to that first day, and then proceed
In this world, all the accounting software use debit and credit tools of accounting system. To know the debit and credit and their difference is necessary to pass correct journal entries in the your accounting software. If you still do not know the difference between debit and credit, there is chance of mistake of wrong debit or credit to any account. Due to this, your accounting statement will not show true financial results. So, today, we are trying to teach the differences between debit and credit in accounting. Debit and credit is not just plus and minus. It is scientific way to pass the journal entries. On the basis of type of account, we debited any account and we credited any other account. In every journal entry, all the debit account's amount will equal to credit account's amount. On following basis, we can tell the differences in debit and credit. 1. On the Basis of Effect on Our Assets Whether we have current asset or fixed asset, when we debit any asset account, value of same asset will increase. We know, bank account represent our bank asset. If we debit bank account with $ 30,000, it means, our bank balance has increased by $ 30,000. If we credit any asset account, value of asset will decrease. If we credit same bank account with $ 20,000. It means balance of bank will decrease by $ 20,000. So, it is very easy to understand the difference between debit and credit by knowing its effect on our assets. 2. On the Basis of Effect on Our Liabilities If we debit any liability, value of our liability will decrease. It will apply both on our current liability and long term liabilities. For example, we debit MR. A creditor by $ 10,000. It means, now our liability to Mr. A creditor has decreased by $ 10,000. If we credit any liability account, it means, value of same liability will increase. We have credited Mr. B creditor account by $ 40,000, it means, value of Mr. B creditor has increased by $ 40,000. 3. On the Basis of Recording Expenses and Incomes For recording expenses, we debit the expenses. For recording, incomes, we credit the incomes. By debit the expenses, we are decreasing our capital. By credit incomes, we are increasing our capital. For example, we have debited insurance premium fees of $ 1000, it means, our total capital will decrease by $ 1000. Capital is the part of our liability. So, if think deeply, by doing this, debit will decrease the value of our liability. We have received commission of $ 2000 for business deal. So, this is our income. So, for recording this, we will credit commission account. It will increase our capital. So, by doing this, capital liability will increase. Related : How to Better Understand Debit and Credit
Passer par un courtier immobilier plutôt que de démarcher soi-même les banques vous coûtera un peu d’argent mais vous permettra de gagner du temps et surtout de réaliser des économies sur toute la durée de votre prêt.
Life Events Finance, Life Cycle Events Finance, Live Events and Life Events For Financial Planning
If your students aren’t excited about STEM, the problem might be a lack of exposure to real-world challenges. Real-world problem solving should be at the core of any STEM education program. It increases student buy-in as students realize that their work has an impact that extends beyond the classro
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https://www.youtube.com/watch?v=KRbtiqrdPSs Comparison: Credit Cards vs Debit Cards for Kids and Teens This video does a credit card vs debit card comparison in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about the advantages and disadvantages of each, or used as a money & personal finance
These financial literacy words have been specifically selected for grades 4 to 6 based on the new 2020 Ontario Math Curriculum. Each card comes with a brief kid-friendly definition to help your students understand concepts discussed in the financial literacy strand of your math class. The text in th...
I know that a lot of us are juggling 500 different balls in our classrooms trying to cover everything needed. But, one of the most important balls is life skills. If you want to know more about what life skills are, I recommend reading this blog post first. Today, I want to share with you
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Come to KALSEE Credit Union for a premier banking alternative. We offer a range of services to meet your personal & business banking needs.
I’ve scoured the game shelves for games to teach kids about credit (a vital life skill!). Here’s what I found.
While the U.S. has a trade deficit in most areas of commerce, there is one area where the U.S. has a strong trade surplus: education. Nearly 820,000 students left their…
A listening activity. Students learn about cybercrime through a radio programme conversation. Useful to introduce vocabulary related to computers and the internet. Key, script, audio file link and QR code provided. - ESL worksheets
The month of December is your last chance to take advantage of freebies this year.
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(This article was written 2 weeks before it posted, don’t try looking for the mentioned deals today. See, I’m helping you!! LOL!) “AHHHHHHHHHHHHHHHHHHH!” That feels better, …
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