It’s time to kill D-E-A-D C-L-I-C

Maybe mnemonics have their place, but "D-E-A-D C-L-I-C" isn’t one to keep. Let’s kill it off. A friend of mine told me that when she was learning accounting she dared ask why debits increase both expenses and assets. It didn’t make sense to her because debiting expenses appeared to reduce value in the entity and… Continue reading It’s time to kill D-E-A-D C-L-I-C