Double-entry bookkeeping

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Double-entry bookkeeping

Accounting method that records each transaction as both a credit and a debit in different accounts.

Double-Entry Bookkeeping

A system of accounting where every transaction is recorded as a debit to one account and a credit to another. That is, one who uses a double-entry bookkeeping system records each transaction twice, such that each credit (representing revenue) is recorded as a credit to one's capital account and as a debit on one's bank account. For example, if a company sells a product for $100, it adds $100 to its capital account and subtracts $100 to its bank account. One way of conceptualizing the bank account is from the bank's perspective: the debits are debits because any asset in a bank account represents a liability for the bank; this is why they are subtracted instead of added. However, the data are recorded twice to prevent errors in bookkeeping: the total debits and credits recorded should add to zero.
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Chairman of EAC-Themar Securities Brokerage Adel Abdel-Fattah said that keeping the extraordinary rules governing double-entry securities trade will scare off investors.
Soll surveys the educational sources that were necessary to train the double-entry bookkeepers over the last 700 years.
(1927), "The antecedents of double-entry," The Accounting Review, Vol.
Double Entry: How the merchants of Venice shaped the modern world.., and how their invention could make or break the planet tells the story of double-entry bookkeeping, from its emergence in northern Italy during The Crusades and its codification by Luca Pacioli in1494, to its rise to prominence in the hands of a new profession-accounting-during the Industrial Revolution an 20th century.
So it was a very unexpected area for me to be considering writing a book on something as unlikely as double-entry bookkeeping and accounting.
--Enacting National Accounting Standards on March 19, 2009, which aimed at providing accounting standards needed for accrual basis accounting and double-entry bookkeeping methods to be applied to national financial activities
In addition, a double-entry table provides estimates of the probability of success on both the Reading and Mathematics tests in 10th grade.
Our suite of reading-to-learn support tools includes 1) annotation, 2) double-entry reading logs, and 3) summarization of both text and epistemic forms such as charts, graphs, and tables.
There is no double-entry of information, and the overall process leads to faster response times to critical events within the system."
In the 12th century, Greif tells us, the Genoese "ceased to use the ancient custom of entering contracts by a handshake and developed an extensive legal system for registering and enforcing contracts." This extensive legal system also included bills of lading and, in time, double-entry bookkeeping.