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FIRST RULE OF ACCOUNTING.

Accounting is boring so says everyone, I beg to differ, once you've begun.

The theory makes sense; it's merely a tool, Debits equal credits, that's the first rule.

Debits and credits are names for location, It's really that simple, not cause for vexation.

A debit goes on the left, in dollars, not sense, An increase to assets or an expense.

A credit goes on the right, that's its position, A liability or income, by definition.

Cash is an asset, most folks would agree, Though it can't be replenished by plucking a tree.

So start with the cash or similar thing, For the hint it provides so your hands you won't wring.

"It's not quite that simple," you protest, you demur, "You're positively right," I allow, there's more to be sure.

Barbara J. Babij, CPA, is a consultant in Ridgeway, Ontario, dedicated to releasing creativity and developing leadership in the workplace.

COPYRIGHT 1999 New York State Society of Certified Public Accountants
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999 Gale, Cengage Learning. All rights reserved.

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Author:Babij, Barbara J.
Publication:The CPA Journal
Article Type:Poem
Geographic Code:1USA
Date:Nov 1, 1999
Words:150
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