Frogs 'n Flies

A short fun video that explains debits and credits.
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Key aspects of BaSIS Board

A title line locks down the entity whose story is being told.
BaSIS Board comprises 5 element-blocks, sometimes known by the mnemonic R-E-L-A-X.

The definition of the blocks is precise and deliberate: 

  • Revenue (US) – Value-generating activities / (Income (International) – Value-generating activities)
  • Equity – Obligations to owners/shareholders
  • Liabilities – Obligations to creditors
  • Assets – Rights to valuable things
  • eXpenses – Value-sacrificing activities

Top three blocks represent the balance sheet.

Bottom two blocks represent the income statement.

Sources & uses of funds:

  • Left-hand two green elements represent uses of funds.
  • Right-hand three orange elements represent sources of funds.
Bottom two blocks roll up into the equity profit-account.


  • Green codes debit accounts and debit entries (see arrows).
  • Orange codes credit accounts and credit entries (see arrows).