Papers on REA primarily stress using REA to design an accounting system, but wide acceptance of REA as an accounting system design methodology probably would depend on a fundamental reexamination of the accounting model would a move away from
double-entry accounting. REA research has not considered how REA would institute complex accounting situations such as accounting for business combinations and derivatives.
Learning Objective 10 * To apply transactions analysis and
double-entry accounting in recording transactions.
Although the software uses the world industry standard of
double-entry accounting, Quentin has transformed the whole process making it accessible to those with no training whatsoever.
It is convenient that a number of the theorems useful for beginning an inquiry into these applications are introduced in the context of
double-entry accounting in the "structure" course.
One section of this book was dedicated to the description of
double-entry accounting. The system provided a methodology of checks and balances to control the financial operations of a company.
Pacioli published the first work on a
double-entry accounting system consisting of three books - a day book, a journal, and a ledger.
Although Latin and
double-entry accounting have been criticized as irrelevant for the modern world, both provide a basic knowledge foundation.
These programs are intended for small firms that use
double-entry accounting methods.
Accounting artifacts are components of accounting that exist only for financial reporting such as journals, ledgers,
double-entry accounting, and a chart of accounts.
'When he passed away, his younger accountant coworkers rushed to his desk drawer and found it contained a slip of paper that said: 'Debits are by the window.'" So goes the punch line to a joke that virtually every fledgling accountant trying to master
double-entry accounting has heard.
51-69] identifies three concepts inherent to economic performance measurement under
double-entry accounting (DEA).
