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Dictionary by pitch.dog
Financial statements & accounting records · Core

Debit

Also called: Dr

ELI5

The left side of an account; what it changes depends on the account type.

Used in conversation

“The journal entry debits cash and credits the loan liability.”

Definition

An entry on the left side of an account; it generally increases assets and expenses and decreases liabilities, equity and income.

Here “Debit” means: An entry on the left side of an account; it generally increases assets and expenses and decreases liabilities, equity and income.

Pitch context

You will see “Debit” in financial models, budgets, board packs and investor materials when the discussion reaches financial statements & accounting records.

Why it matters: It helps a reader interpret financial statements & accounting records without confusing the measure, decision, role or evidence being discussed.

Connected terms

When the words have to travel

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Sources & evidence · 4

Direct term-level sources and supporting source families.