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Author Topic:   Credit and Debts....Credits and Debts....
AGENT SHAGWELL

Guru

Posts: 2736
From:cryogenically frozen somewhere in FL
Registered: Aug 2000

posted January 25, 2001 10:37 AM

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I hate them...accounting takes the simpliest concepts and mangles them to piss you off....my new accounting general rule: what does common sense indicate....then do the opposite ...voila...A's in accounting

PS...its Debits

[This message has been edited by AGENT SHAGWELL (edited January 25, 2001).]


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The Shadow

Elite Bodybuilder

Posts: 1206
From:Georgia
Registered: Oct 2000

posted January 25, 2001 10:39 AM

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Cool - the George Costanza method...hmmmmm...maybe I should try it on zee womens....hhehe


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Gilbyag

Freak

Posts: 1600
From:Cowboys From Hell Tx USA
Registered: May 2000

posted January 25, 2001 10:43 AM

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calm down shaggy, take deep breaths, ready... in with the good, out with the bad, in with the good, out with the bad.... there now, better? Ok reay, 2+2=?


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freak daddy

Elite Bodybuilder

Posts: 1025
From:the dark
Registered: Oct 2000

posted January 25, 2001 10:44 AM

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it's good your taking a accounting class! most people can't account their own ass! we all are told to go to school get a good education, get a good job, and work up the corporate ladder! that is the biggest bunch of bullshit i was ever told. learn how to account and manage, and learn how to make your dollars work for you, and you will live a much easier life! learn the difference between assetts and liabilities! a good book on this subject is rich dad, poor dad by robert kiyosaki!

------------------
"i'll kill you and your dreams, then begin you life" dracula 2000
"only take advice from people you want to be like"
freak daddy


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fistfullofsteel

Pro Bodybuilder

Posts: 582
From:
Registered: Aug 2000

posted January 25, 2001 10:46 AM

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debts or debits?


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Thick dog

Guru

Posts: 2837
From:Florida
Registered: May 2000

posted January 25, 2001 10:47 AM

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I really should take an accounting and finance class, so I can learn enough about my portfolio to ditch my 2-bit stock broker...


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freak daddy

Elite Bodybuilder

Posts: 1025
From:the dark
Registered: Oct 2000

posted January 25, 2001 10:50 AM

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i think they should start teaching those things in high school thick dog!!!

------------------
"i'll kill you and your dreams, then begin you life" dracula 2000
"only take advice from people you want to be like"
freak daddy


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Rex

Pro Bodybuilder

Posts: 402
From:Philly, PA, USA
Registered: Dec 2000

posted January 25, 2001 11:02 AM

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They do teach it in highschool. I took it in 9th grade. My teacher was a dickhead though and couldn't teach.

------------------
-Wuuuu.
-Plan for the worst; Pray for the best.
-I'm funny?...How? I mean funny, like I'm a clown?...I amuse you? I make you laugh?


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AGENT SHAGWELL

Guru

Posts: 2736
From:cryogenically frozen somewhere in FL
Registered: Aug 2000

posted January 25, 2001 11:06 AM

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Fist...yes its debit...but this is accounting not english class deary ....

I just think its pretty much common knowledge if you think about it...problem is the terms that mess you up.....

Thick....the major accounting principle:
assets=liabilities + equity
does that help with your portfolio at all...no....well thats because in my opinion accounting is really only good for tax purposes, cash flow, does not give any accurate indication of a companies worth because of the "genrally Accepted Accounting Principles"...


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WODIN

Guru

Posts: 2807
From:You can see the End of the World From here
Registered: Aug 2000

posted January 25, 2001 11:06 AM

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Shaggy what's your problem one of my degree's is in accounting.

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AGENT SHAGWELL

Guru

Posts: 2736
From:cryogenically frozen somewhere in FL
Registered: Aug 2000

posted January 25, 2001 11:10 AM

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Wodin...I don't really have a problem, cause I get it right, just as long as I go the opposite of what common sense tells me ...heres a simple example...your company purchases company supplies.....while common sense would tell me to debit cash, and credit supplies...in accounting you credit cash and debit supplies

[This message has been edited by AGENT SHAGWELL (edited January 25, 2001).]


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Thick dog

Guru

Posts: 2837
From:Florida
Registered: May 2000

posted January 25, 2001 11:17 AM

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Wodin, I've taken a nice blow to the nuts with Microsoft and AOL in recent times, how about yourself?


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fistfullofsteel

Pro Bodybuilder

Posts: 582
From:
Registered: Aug 2000

posted January 25, 2001 11:41 AM

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ok, you are a terrible speller, shags; i just thought maybe you were talking about a term i have never encountered before.


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WODIN

Guru

Posts: 2807
From:You can see the End of the World From here
Registered: Aug 2000

posted January 25, 2001 02:39 PM

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Td - I know what you mean. I've got plenty of both companys, just take the long term view and you will more than recover. AOL just finished it's mega merger and will be pumping more media services out through their software portal. MS is going web based so I see them ruling a market segment that the guys @ Java and oracle have tried but failed in.

Shagwell - Remember this.

You buy an Asset its a debit
You use an Asset its a credit

You buy debt its a Credit
You sell (retire) debt its a debit

You buy (earn) equity is a dedit
You sell(lose) equity its a credit


Assets - liabilities = Equity


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[This message has been edited by WODIN (edited January 25, 2001).]


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MP5

Freak

Posts: 1692
From:your nightmares
Registered: Feb 2000

posted January 25, 2001 02:57 PM

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Accounting is not that bad. I am actually thinking of going back to school for accounting.

Thick, I have a finance degree, and accounting classes. I might be able to answer some of your questions.

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AGENT SHAGWELL

Guru

Posts: 2736
From:cryogenically frozen somewhere in FL
Registered: Aug 2000

posted January 25, 2001 02:58 PM

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wodin...thanks for the edit...its all so much clearer to me now....thanks for you help...its just what the book says...I think my problem is I view the accounts like a money account, verses the types of accoutns they are.......


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Thick dog

Guru

Posts: 2837
From:Florida
Registered: May 2000

posted January 25, 2001 03:05 PM

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Oracle is still a relatively good buy right now. MP-5, where did you get your degrees? One of my best buddies is getting a double Master's in Finance and Business Management at the Univeristy of Miami. He is my best source for trading info...


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