A few days ago
anyone know about the system of Double entry?
Hi, i’m currently studying for my exams. I really dunno how to apply the priniciples of double entry? including discounts . can anyone give mi any links?
Top 2 Answers
A few days ago
Favorite Answer
I guess this it waht you are looking for.
http://www.quickmba.com/accounting/fin/double-entry/
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A few days ago
Accounting and Bookkeeping, the process of identifying, measuring, recording, and communicating economic information about an organization or other entity, in order to permit informed judgments by users of the information. Bookkeeping encompasses the record-keeping aspect of accounting and therefore provides much of the data to which accounting principles are applied in the preparation of financial statements and other financial information.
Personal record keeping often uses a simple single-entry system, in which amounts are usually recorded in column form. Such entries include the date of the transaction, its nature, and the amount of money involved. Record keeping of organizations, however, is based on a double-entry system, whereby each transaction is recorded on the basis of its dual impact on the organization’s financial position or operating results or both.
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