Teaching Debit and Credit to Russian Speakers

Recently, I met a  friend  in West Bengal. He is Russian. He is very spiritual. We talked sometime. I found that he is guitar player and teacher. I told him that I am online accounting teacher. My duty is to teach accounting and finance online. Because he was Russian Speaker, he could not understand my work. Yes, he was perfect in English. So, I told that I teach the system of recording any business transaction by telling the rules of Debit and Credit. After telling this, he told that when he was learning economics, he learned Debit and Credit side of account.


I said to him, “You are right.” He was interested to learn Debit and Credit more deeply from me. He prayed God by saying “Hare Krishna” . I said to him, “Debit and Credit is just like Hare Krishna.” Use of Debit and credit is same in accounting like use of Hare Krishna in Hinduism Religion. By saying hare Krishna, we follow the rule of bhakti yoga. So, more we will the hare Krishna, more will go near our God and get his love. In accounting, we have to follow the rule of Debit and Credit. More, we will know the deepness of debit and credit, more, we will become perfect to record any business transaction. Debit and credit is hare Krishna for an accounting professional.

Teaching Debit and Credit to Russian Speakers : Main Rules 


1. Increase in any asset will Debit. Decrease in Asset will Credit. 

Example : I give him a very simple example of mobile $ 1000. If a businessman who buys the mobile. It will become his asset. It is also increase in his total assets. So, Mobile Account will Debit. Cash is also our asset. It decreases. So, it will be credit because after payment our total asset will decrease.

Mobile Account Debit $ 1000

Cash Account Credit $ 1000

2. Decrease in the Liabilities will Debit Increase in the Liabilities will Credit

Example : Your friend Mical paid your $ 10,000 loan which you have taken from James. You did contract that you will pay to your friend after one year. In this transaction, your one liability decreases and other liability increases.

James's  Loan Account Debit $ 10,000

Mical's Loan Account Credit $ 10,000

3. Increase in any Asset will Debit. Increase in any Liability will Credit 

Example : Your friend Mical gave you the loan of $ 20,000. In this case, your cash increases. It means your total asset will increase. Your loan liability is also increasing.

Cash Account Debit $ 20,000

Mical's Loan Account Credit $ 20,000

4. Decrease in Any Liability will Debit. Decrease in any Asset will Credit.

Example : We repaid the loan  $ 20,000 to our friend Mical. In this case, both our cash asset and mical's loan liability will decrease.

Mical's Loan Account Debit $ 20,000

Cash Account Credit $ 20,000

5. All the Expenses and Losses will Debit. Decrease in Asset will Credit 

Example : We have paid lighting bill of $ 2000

Lighting Expenses Debit $ 2000

Cash Account Credit $ 2000

6. All the Expenses and Losses will Debit. Increase in liability will Credit 

Example : Light bill $ 3000 is due but we did not pay.

Lighting Expenses Account Debit $ 3000

Outstanding Lighting Expenses Account or Lighting Expenses payable to Service Provider Account Credit $ 3000

7. Increase in Asset will Debit. All the incomes and Gain will Credit. 



Example : We have  $ 4000 for providing coaching service.

Cash Account  Debit $ 4000

Coaching Fees Income Credit $ 4000

Related :  Basic Debit and Credit Concepts