Debits, Credits & Journals: The Basics That Still Break Financial Statements

If you don’t truly understand debits, credits, and journals, everything else falls apart. This session fixes the basics so your financial statements stop lying to you.

2 CPD units 12 March 2026 1 presenter

What will set you apart

By completing this course you will gain the following competencies

How debits and credits really work (without confusion)
How to correctly post basic accounting journals
How accruals and prepayments affect profit and expenses
How depreciation journals impact assets and results
How to account for income received in advance
How to record and adjust debtors correctly
Why small journal errors cause big reporting problems

Event breakdown

How debits and credits really work
Understanding the double-entry system
Basic journals explained step by step
Accruals and why they matter
Prepayments and expense timing
Depreciation journals and asset impact
Income received in advance
Debtors, adjustments, and corrections
How journals affect profit and balances

Category: AccountingType: CPD CourseCPD category: Accounting

Description

Many accounting errors do not come from complex standards — they come from weak basics. This session focuses on the core building blocks of accounting: debits, credits, and journals. Delegates will be guided through common everyday journals such as accruals, prepayments, depreciation, income received in advance, and debtor-related entries. The session explains not just how to post journals, but why they are done and how they affect profit, assets, and liabilities. Designed for accountants and bookkeepers who prepare or review financial information, this session strengthens understanding and confidence at the foundation level. By the end of the session, delegates will be able to post and review journals correctly and understand their impact on the financial statements.

Presenters

Leana van der Merwe — Leana van der Merwe is a Chartered Accountant and Registered Auditor with over 18 years of experience in business accounting, audit and corporate governance. A former Audit Director and professional-body Technical and Standards Executive, she has guided more than 14,000 professionals through complex regulatory matters. Leana also serves on the PAFA Technical Advisory Group, the IFAC Anti-Money Laundering Committee and the IFRS Foundation SME Implementation Group.

You will earn a certificate

On successful completion you will receive a certificate for 2 CPD units in Accounting.

Requirements

Laptop, desktop, or mobile device with internet access
Microsoft Edge, Google Chrome, Safari, or Firefox browser