Accounting With Uncle William

14/06/2026

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Calling All Liberian Business Owners & Entrepreneurs! Are you running a business in Liberia — big or small? We want to hear from YOU. Kpata_Fall Online TV is on a mission to understand the real challenges Liberian entrepreneurs face when it comes to managing business records and accessing professi...

13/06/2026

Dear civil servants of Liberia, we made this app for you to check how much the government takes from you every month. Just enter the gross salary and the exchange rate.
Your gross salary is the amount stated on your employment letter. And the exchange rate for June 2026 is 𝟏𝟖𝟏.𝟕𝟎.
Click the link below and enter your gross salary and the exchange rate for June 2026, and then you will know how much you're carrying home for June.
𝐍𝐨𝐭𝐞: 𝐓𝐡𝐢𝐬 𝐚𝐩𝐩 𝐢𝐬 𝐧𝐨𝐭 𝐟𝐨𝐫 𝐩𝐞𝐨𝐩𝐥𝐞 𝐰𝐡𝐨 𝐚𝐫𝐞 𝐩𝐚𝐲𝐢𝐧𝐠 𝐟𝐨𝐫 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐚𝐧𝐝 𝐩𝐞𝐨𝐩𝐥𝐞 𝐰𝐡𝐨 𝐚𝐫𝐞 𝐩𝐚𝐲𝐢𝐧𝐠 𝐮𝐧𝐢𝐨𝐧 𝐝𝐮𝐞𝐬.


Link: https://awuwlib.pythonanywhere.com/

27/05/2026

What about this? What will be your preferred name?

05/03/2026

You can check your income tax for this month by using the link below. After opening the link, just type in your gross salary and the exchange rate if you are a civil servant. awuwlib.pythonanywhere.com

Please follow this page.

This is a personal income tax calculator for Liberian workers, based on the Liberia Revenue Code (Revised 2020), Section 200, p. 49: Tax Imposed.

05/02/2026

Today's Topic: Assets and Liabilities

Objectives: At the end of today's lesson, followers will be able to:
1. Identify assets and liabilities.
2. Distinguish assets from liabilities.

𝐇𝐞𝐥𝐥𝐨 𝐋𝐞𝐬𝐬𝐨𝐧:
In everyday life, people say, “I bought a car, so I’m rich.”
But accounting checks and asks a harder question: Did you really gain wealth, or did you add pressure?

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐚𝐧 𝐀𝐬𝐬𝐞𝐭?
An asset is something you own that gives you future benefit.
It either:

brings in money, or
helps you earn money, or
has value you can convert to cash.

Examples:
Cash
Land
A car used for business
Office equipment

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐚 𝐋𝐢𝐚𝐛𝐢𝐥𝐢𝐭𝐲?
A liability is something you owe—a future sacrifice.
It drains your resources, even if you received something nice upfront.

𝐄𝐱𝐚𝐦𝐩𝐥𝐞𝐬:
Loans (money that you borrow from a bank or from someone)
Unpaid rent
Credit purchases
Salary arrears

𝐏𝐥𝐞𝐚𝐬𝐞 𝐧𝐨𝐭𝐞 𝐭𝐡𝐢𝐬:
Something can look like an asset but behave like a liability if it only consumes money and produces nothing. Accounting doesn’t care about emotions; it cares about impact.

𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝 𝐭𝐡𝐢𝐬 𝐭𝐨𝐨. If you take a loan to buy a car:
The car is an asset.
The loan is a liability.

Assignment 👇
If you buy a generator on credit for office use. How is this recorded?

A. Generator = Liability, Credit = Asset
B. Generator = Asset, Credit = Income
C. Generator = Asset, Credit = Liability
D. Generator = Expense, Credit = Capital

Drop your answer in the comments. 👇
Tomorrow, we’ll break it down—and challenge the common mistake many people make here.

04/02/2026

In today's Lesson, we will be talking about Debit and Credit.

Objective:
At the end of this lesson, followers will be able to:
1. Identify which sides debit and credit belong.
2. Which accounts are normally debited and which ones are normally credited.

𝐋𝐄𝐒𝐒𝐎𝐍:
Debit does not automatically mean “increase.”
Credit does not automatically mean “decrease.”

"Debit" and "credit" simply mean:
Debit = left side of an account
Credit = right side of an account

Everything else depends on what type of account you’re dealing with.

There are five main account types.
All accounting accounts fall into these five categories:

1. Assets
2. Liabilities
3. Equity
4. Revenue (Income)
5. Expenses
Once you know how each behaves, debit and credit will stop being mysterious to you.

Make the Accounting Equation your Bible verse (constitution).

𝐀𝐬𝐬𝐞𝐭𝐬 = 𝐋𝐢𝐚𝐛𝐢𝐥𝐢𝐭𝐢𝐞𝐬 + 𝐄𝐪𝐮𝐢𝐭𝐲

This equation must always stay balanced.
Debit and credit are the tools that keep it balanced.

𝐇𝐨𝐰 𝐝𝐞𝐛𝐢𝐭 𝐚𝐧𝐝 𝐜𝐫𝐞𝐝𝐢𝐭 𝐚𝐟𝐟𝐞𝐜𝐭 𝐞𝐚𝐜𝐡 𝐚𝐜𝐜𝐨𝐮𝐧𝐭

𝐀𝐬𝐬𝐞𝐭𝐬
Increase with a Debit
Decrease with a Credit

Examples: Cash, Bank, Inventory, Equipment

𝐄𝐱𝐩𝐞𝐧𝐬𝐞𝐬
Increase with a Debit
Decrease with a Credit

Examples: Rent expense, Salary expense, Fuel expense

𝐋𝐢𝐚𝐛𝐢𝐥𝐢𝐭𝐢𝐞𝐬
Increase with a Credit
Decrease with a Debit

Examples: Payables, Loans, Accrued expenses

𝐄𝐪𝐮𝐢𝐭𝐲
Increase with a Credit
Decrease with a Debit

Examples: Owner’s capital, Retained earnings

𝐑𝐞𝐯𝐞𝐧𝐮𝐞 (𝐈𝐧𝐜𝐨𝐦𝐞)
Increase with a Credit
Decrease with a Debit

Examples: Service income, Sales income

𝐎𝐧𝐞 𝐄𝐚𝐬𝐲 𝐖𝐚𝐲 𝐓𝐨 𝐑𝐞𝐦𝐞𝐦𝐛𝐞𝐫 𝐇𝐨𝐰 𝐭𝐨 𝐃𝐞𝐛𝐢𝐭 𝐨𝐫 𝐂𝐫𝐞𝐝𝐢𝐭

Group them:
Debit increases → Assets & Expenses
Credit increases → Liabilities, Equity & Revenue

𝐀𝐧𝐨𝐭𝐡𝐞𝐫 𝐩𝐨𝐩𝐮𝐥𝐚𝐫 𝐦𝐞𝐦𝐨𝐫𝐲 𝐚𝐢𝐝 𝐢𝐬 𝐃𝐄𝐀𝐋𝐄𝐑:
Which stands for,
Debit increases Expenses & Assets
Liabilities, Equity & Revenue increase with Credit

𝐄𝐯𝐞𝐫𝐲 𝐭𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧 𝐡𝐚𝐬 𝐭𝐰𝐨 𝐬𝐢𝐝𝐞𝐬.

This is the double-entry principle:
Every transaction must have at least one debit and one credit, and the totals must be equal.
No exceptions. If they don’t balance, the entry is wrong.

𝐄𝐱𝐚𝐦𝐩𝐥𝐞𝐬

Example 1: Owner invests cash
Owner brings cash of $5,000 into the business.
𝐃𝐞𝐛𝐢𝐭 𝐂𝐫𝐞𝐝𝐢𝐭
Cash (Asset) ...................... 5,000
Owner’s Capital (Equity) ......................... 5,000
Why?
Assets increase → debit
Equity increases → credit

Example 2: Pay office rent in cash ($500)
𝐃𝐞𝐛𝐢𝐭 𝐂𝐫𝐞𝐝𝐢𝐭
Rent Expense .................... 500
Cash ................................................................ 500
Why?
Expense increases → debit
Asset decreases → credit

Example 3: Provide services on credit ($1,200)
𝐃𝐞𝐛𝐢𝐭 𝐂𝐫𝐞𝐝𝐢𝐭
Accounts Receivable (Asset) ...... 1,200
Service Revenue .................................................... 1,200
Why? Because you earned income, but cash hasn’t come yet.

End of Lesson!!!

Now, here is your assignment:
End-of-Lesson Exercise

𝐈𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧𝐬
𝐅𝐨𝐫 𝐞𝐚𝐜𝐡 𝐭𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧 𝐛𝐞𝐥𝐨𝐰:
𝐈𝐝𝐞𝐧𝐭𝐢𝐟𝐲 𝐭𝐡𝐞 𝐚𝐜𝐜𝐨𝐮𝐧𝐭𝐬 𝐢𝐧𝐯𝐨𝐥𝐯𝐞𝐝
𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐞 𝐃𝐞𝐛𝐢𝐭 (𝐃𝐫) 𝐨𝐫 𝐂𝐫𝐞𝐝𝐢𝐭 (𝐂𝐫)
𝐒𝐭𝐚𝐭𝐞 𝐭𝐡𝐞 𝐚𝐦𝐨𝐮𝐧𝐭

𝐀𝐬𝐬𝐢𝐠𝐧𝐦𝐞𝐧𝐭 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬:
1. The business purchased office furniture for $3,000 cash.
2. Paid electricity bill of $250 from the bank.
3. Received $1,500 cash from a customer for services rendered.
4. Bought supplies worth $800 on credit.
5. Owner withdrew $400 cash for personal use.

𝐁𝐨𝐧𝐮𝐬 (𝐭𝐡𝐢𝐧𝐤𝐢𝐧𝐠 𝐜𝐡𝐞𝐜𝐤)
Which of the above transactions reduce equity, and why?

02/02/2026

𝐇𝐨𝐰 𝐎𝐰𝐧𝐞𝐫’𝐬 𝐄𝐪𝐮𝐢𝐭𝐲 𝐂𝐡𝐚𝐧𝐠𝐞𝐬

Owner’s equity is not fixed.
It increases when the owner adds more capital or when the business makes a profit.

It decreases when the owner withdraws money or when the business records losses.

Every decision the owner(s) make, earning, spending, or withdrawing directly affects equity.

Check in the comment section for your assignment question. 👇🏿

30/01/2026

𝐎𝐰𝐧𝐞𝐫𝐬’ 𝐄𝐪𝐮𝐢𝐭𝐲 (𝐓𝐡𝐢𝐧𝐤, 𝐃𝐨𝐧’𝐭 𝐆𝐮𝐞𝐬𝐬)

After assets and liabilities, there’s one question accounting always asks:
Who really owns the business?
Owners’ Equity is the owner’s claim after all debts are settled.

In simple terms:
Equity = What the business owes the owner.

Now think carefully 👇🏽

Which of the following is OWNERS’ EQUITY?

A. Loan from the bank
B. Cash invested by the owner
C. Rent payable
D. Electricity bill outstanding

Don’t answer from memory—answer from logic.

Drop your choice in the comments 👇🏽

29/01/2026

𝐂𝐚𝐬𝐡 𝐯𝐬 𝐀𝐜𝐜𝐫𝐮𝐚𝐥 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠

Why Timing Changes Decisions
Two organizations record the same transaction differently.

𝐂𝐀𝐒𝐇 𝐁𝐀𝐒𝐈𝐒:
Revenue and expenses are recorded only when cash is received or paid.

𝐀𝐂𝐂𝐑𝐔𝐀𝐋 𝐁𝐀𝐒𝐈𝐒:
Revenue and expenses are recorded when they are earned or incurred, regardless of cash movement.

📌 Example:
You provide services in December but receive payment in January.

✅ Cash basis shows income in January
✅ Accrual basis shows income in December

𝐍𝐨𝐰 𝐩𝐚𝐮𝐬𝐞 𝐚𝐧𝐝 𝐭𝐡𝐢𝐧𝐤 𝐜𝐫𝐢𝐭𝐢𝐜𝐚𝐥𝐥𝐲👇

A) If you’re assessing financial performance for December, which method gives a more realistic picture?

A) And if you’re managing cash availability, which method matters more?

👉 Decision Question:
Which accounting basis should a government institution rely on for reporting performance—and which one should guide day-to-day cash decisions?

Let’s hear you from the comment section.

24/10/2025

Accounting is the backbone for success in any business or organization.