Peter Baskerville

Passionate about the 21st century's paradigm shift in education that will deliver eminently affordable education to all via the tools & distribution of the Internet. Currently working on these startups: Industry Professor Association and SkillMaker. Authored this book: FAQ Basic Accounting Concepts. I am a teacher and educational resource developer at Southbank Business School TAFE, QLD Brisbane. Started, managed & sold over 30 'bricks & mortar outlets' in retail and hospitality.

Homepage: http://www.skillmaker.edu.au/

In accounting, why do we debit expenses and credit revenues?

Posted by  on Wednesday, October 1st 2014     

I wish there was a simple answer to this question … but there isn’t. The rules of debit & credit in accounting are simple enough to learn and apply, but understanding the ‘why’ is far more complex, particularly when you are trying to understand the ‘first principles’ of a system that was created over 500 […]

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category: Debits and Credits
tags: , , , , , , , , , ,

Why is it so difficult to grasp the idea of debit vs credit without confusing the two?

Posted by  on Sunday, August 17th 2014     

Answer by Peter Baskerville: Why is the idea of debits and credits so difficult to grasp? It is clearly the most confusing concept to understand in accounting, which is why most students simply learn the ‘debit’ and ‘credit’ rules by heart and then apply them according to the rules. But I still think it is […]

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category: Debits and Credits
tags: , , , , , , ,

Debits & Credits – History and definitions

Posted by  on Monday, December 9th 2013     

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category: Debits and Credits, History of Accounting
tags: , ,

FAQ – Basic Accounting Concepts

Posted by  on Friday, July 26th 2013     

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category: Accounting Principles
tags: ,

How can I better understand debit and credit?

Posted by  on Tuesday, May 14th 2013     

I personally think that trying to understand the debit and credit concept in accounting is near impossible when you are first confronted with it. Learning how to apply the debit and credit concept is far easier. You can be an outstanding bookkeeper or accounting student by just learning the application rules that are taught in […]

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category: Debits and Credits
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The history and definition of ‘Debits and Credits’ in accounting.

Posted by  on Saturday, March 31st 2012     

History of Debits and Credits ‘Debits and credits’ is a financial transaction classification system that was first used by the Venetian merchants in Italy in the 15th century. While it was widely used by the Venetian merchants, its took a mathematician by the name of Luca Pacioli to document and publish this system in a […]

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category: History of Accounting
tags: , , , , , , , , ,

Making sense of Debits and Credits in Accounting.

Posted by  on Saturday, March 31st 2012     

Confusion about the terms ‘Debits and Credits’ ‘Debits and Credits’ is possibly one of the most difficult concepts to understand in accounting. This is due in large part to the additional meanings that have been added to these terms from the ones that were first coined some 500 years ago. Yes that’s right. The accounting […]

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category: Debits and Credits
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Work skills training

Skillmaker is committed to making work-place skills training accessible to all via Free online training courses that are built by industry for industry using the tools and platforms of the internet. "Work skills training for all".

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Industry Professors Association

Industry Professor Association (INDPA) is an organisation for people who wish to share their extensive industry experience directly with global learners for the mutual benefit of all. Teach what you have learned – profit from what you know. Rewarding Experience.

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Nowmaster

Nowmaster helps RTOs and qualified training and assessors to develop teaching, learning and assessing resources that align with ASQA's requirements. Drawing on their extensive resource development experience Nowmaster engages directly with members of the Industry Professors Association to ensure current 'best practice' content is reflected in all their resources.