FIRST RULE OF ACCOUNTING

By Barbara J. Babij

Accounting is boring so says everyone,
I beg to differ, once you've begun.

The theory makes sense; it's merely a tool,
Debits equal credits, that's the first rule.

Debits and credits are names for location,
It's really that simple, not cause for vexation.

A debit goes on the left, in dollars, not sense,

An increase to assets or an expense.

A credit goes on the right, that's its position,

A liability or income, by definition.

Cash is an asset, most folks would agree,

Though it can't be replenished by plucking a tree.

So start with the cash or similar thing,

For the hint it provides so your hands you won't wring.

"It's not quite that simple," you protest, you demur,

"You're ipsotively right," I allow, there's more to be sure.

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