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Topic: Double entry bookkeeping

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In the News (Thu 18 Jul 19)

 Triple Entry Accounting
Double Entry bookkeeping adds an additional important property to the accounting system; that of a clear strategy to identify errors and to remove them.
Double Entry bookkeeping is one of the greatest discoveries of commerce, and its significance is difficult to overstate.
Double Entry bookkeeping arose in concert with the arisal of modern forms of enterprise as pioneered by the Venetian merchants.
iang.org /papers/triple_entry.html   (3982 words)

 [No title]
A bookkeeping system is defined as a transformation, g, which takes a (row) vector of transaction amounts, t, and transforms it into a vector of financial statement account balances, a.
A bookkeeping transformation is double entry if every row of G has two non-zero entries, that is, every transaction affects precisely two accounts.
(The sixth entry is 92 = 80 + 12).
www.cob.ohio-state.edu /~young_53/DoubleEntry.doc   (4201 words)

 Don't the debits go toward the window? An introduction to double-entry bookkeeping.
No, "double entry bookkeeping" doesn't mean having one set of financial records for the IRS and another for yourself.
Using this terminology, we can restate the fundamental concept of double entry bookkeeping thus: when a transaction is recorded, one account receives a debit (a change in the debit direction) while the other receives a credit of identical size.
At the end of an accounting period (usually a month), the bookkeeper engages in a process known as closing the books, which includes verifying that all transactions have been posted and that the accounts are in balance.
www.atarimagazines.com /creative/v11n9/90_Dont_the_debits_go_towar.php   (1786 words)

 [No title]
Double-entry bookkeeping (DEB) was developed during the fifteenth century and was first recorded in 1494 as a system by the Italian mathematician Luca Pacioli [1494].
The mathematical basis behind DEB (algebraic operations on ordered pairs of numbers) was developed in the nineteenth century by Sir William Rowan Hamilton as an abstract mathematical construction to deal with complex numbers and fractions [Hamilton 1837].
DEB is a system of recording transactions that uses the double-sided T-accounts of positive numbers (or the double-sided fractions in the multiplicative case).
www.ellerman.org /Davids-Stuff/Maths/DEB_MATH.DOC   (3375 words)

 [No title]
If bookkeeping was to fulfil this function, though, it was, in view of the structure of the data to be recorded and the relative inflexibility of the medium, not enough to make a note of a business transaction only once.
The 'invention' of double-entry bookkeeping cannot be explained completely by this model, but the gap which remains between bookkeeping, which develops further by processes characterized by their inherent dynamics and that cohesive double-entry system proves to be relatively small and to be easily bridged.
In conclusion it might be said that the development of fundamental methods of bookkeeping did not result from a search for the best solution for the calculation of the profits the enterprise made; it was a consequence of the conditions which writing as a medium of memory imposed on the merchant.
www.uni-muenster.de /Geschichte/MittelalterSchriftlichkeit/ProjektA/ab1.htm   (2237 words)

 Double-entry book-keeping -- Facts, Info, and Encyclopedia article   (Site not responding. Last check: 2007-10-18)
Double-entry book-keeping is the standard (A bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts) accounting practice for recording financial transactions.
The system is based on the concept that a business can be described by a number of different variables or accounts, each describing an aspect of the business in monetary terms.
These changes are known as (An accounting entry acknowledging sums that are owing) debits and (Money available for a client to borrow) credits.
www.absoluteastronomy.com /encyclopedia/d/do/double-entry_book-keeping.htm   (809 words)

 Franz-Josef Arlinghaus - Art. 'Bookkeeping, Double-entry Bookkeeping''
Nonetheless a relatively homogenous kind of bookkeeping was established due to the tight contracts of the traders among themselves.
Therefore, the importance of double-entry bookkeeping in particular and, generally, the function of bookkeeping for the determination of business successes within the business world of medieval merchants must be seen in relative terms.
First steps towards elaborate bookkeeping may be a result of the function as memory aid and of the necessity for a revision.
www.franzarlinghaus.de /Bookkeeping.html   (2722 words)

 [patterns-discussion] Re: [livingmetaphor] RE: What's your vote for the Grand Challenge?
In bookkeeping, as pattern language, what is assumed is not a fixed physical axiom, it is a variable intellectual container--an account that receives an accounting.
But where axioms are focusing on rectilineal and rectilineal rotational forces, as the behavior of the system being studied, bookkeeping is focusing on the identification of informational fields subject to signals that change the information within such fields.
Bookkeeping does measure as fact the value of a trade, but it makes no predictions based upon such facts.
lists.cs.uiuc.edu /pipermail/patterns-discussion/2003-September/000059.html   (1414 words)

 Encyclopedia: Double-entry book-keeping   (Site not responding. Last check: 2007-10-18)
Since the accounts must always balance, for each transaction there will be a debit and a matching credit, and the sum of all debits for all accounts must equal the sum of all credits.
Jump to: navigation, search A tax is a compulsory charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (e.
In formal bookkeeping and accounting, a balance sheet is a statement of the book value of a business or other organization or person at a particular date, usually at the end of its fiscal year, as distinct from an income statement, also known as a statement of profit and loss...
www.nationmaster.com /encyclopedia/Double_entry-book_keeping   (1193 words)

 History of Double Entry Bookkeeping
Although this work was not published for more than a century, Pacioli was familiar with the manuscript and credited Cotrugli with originating the double entry method.
From this time the art of bookkeeping began to bud and continued to grow in the fertile soil of commercial practice in Italy.
Paciolo thus made no claim to the invention of the double entry system, but its inclusion in his book has resulted in his being generally recognized as the the author of the first published double entry bookkeeping text.
www.canhamrogers.com /HDEB.htm   (690 words)

 Double Entry Bookkeeping
In a double-entry system, two entries are made for each transaction - one entry as a debit in one account and the other entry as a credit in another account.
In this system, the double entries take the form of debits and credits, with debits in the left column and credits in the right.
Accurate bookkeeping was required for managers to understand the financial status of their businesses in order to keep them solvent and offer a degree of transparency to investors.
www.quickmba.com /accounting/fin/double-entry   (511 words)

 Spherical Accounting: Using geometry to embody developmental integrity
In its original form, the double-entry bookkeeping system is a model for describing, explaining, and predicting the financial consequences of the operations of an organization.
The double-entry bookkeeping system is a logically incomplete model since the time intervals of expected/agreed and agreed/realized are absent in a model that only describes the time interval of realized/paid.
In an urban context, the contrast is especially evident between a gridwork of streets and a neighbourhood focused on a square -- where the focus is meaningful to all in the area as a "centre of gravity".
www.laetusinpraesens.org /docs00s/spheracc.php   (11283 words)

 The MetaEdge Workshop > Do It Yourself! Double-entry bookkeeping
But whether you are only responsible for your own fortune, your family's, or the war chest of a large business, it's important to you to make the right decisions -- and important to employees, customers, suppliers, partners, investors, and neighbors, who each have a stake in its success.
Double-entry bookkeeping is a tool which helps you make the right decisions by answering important questions about your (or "your") fortune.
Accountants think of all the assets of a fortune as belonging to the owners and investors, and "borrowed" by the fortune to accomplish its purpose.
www.geocities.com /metaed/workshop/dbook.html   (1897 words)

 Double-entry bookkeeping   (Site not responding. Last check: 2007-10-18)
The double-entry bookkeeping system is well suited to computerisation because the initial capturing of volumes of repetitive data and the day-to-day recording of transactions involves the application of a set of rules; the subjective exercise of judgement in the determination of profit comes later.
One popular style of examination question is to require journal entries to correct a series of errors and unrecorded transactions, or to ask for the writing up of particular accounts involving an unusual transaction, e.g., the disposal of a fixed asset.
A firm grasp of double entry booking is a vital skill to carry forward into further studies and is an invaluable tool in the work place.
www.accaglobal.com /publications/studentaccountant/28415   (1119 words)

Accounting In Mesopotamia, circa 3500 B.C. Five thousand years before the appearance of double entry, the Assyrian, Chaldaean-Babylonian and Sumerian civilizations were flourishing in the Mesopotamian Valley, producing some of the oldest known records of commerce.
Government and banking accounts in ancient Rome evolved from records traditionally kept by the heads of families, wherein daily entry of household receipts and payments were kept in an adversaria or daybook, and monthly postings were made to a cashbook known as a codex accepti et expensi.
The bookkeeper posts "cash in hand" as a debit on page one of the ledger, just as it was entered first in the journal.
www.acaus.org /acc_his.html   (5547 words)

 Questions and Replies   (Site not responding. Last check: 2007-10-18)
Correcting the entry made in 2001 (for subsequently we now know the payment of 2016 was not a donation but a part purchase) will of course reduce the revenue for the current year.
The bookkeeping is the same as for a sale of the asset, except that you have two sources of income resulting from the disposal, namely the sale proceeds plus any insurance settlement.
A journal entry document was produced (usually quite extensive) that recorded all the final correct closing entries, which were therefore the opening entries for the new year.
www.cad.co.nz /~lenbain/qest_rep.htm   (14950 words)

 [No title]   (Site not responding. Last check: 2007-10-18)
In the example replace the two int's with two real's, then there is no double bookkeeping for a call with two int's, but dmd still does not evoke an error because of the automatic type casting.
Moreover, as D is supposed to be used in programming teams, the two functions might be public and included in a module used by another team member.
If double bookkeeping would be followed to the end, then it would mean for a distributed development team, that every used function from a "foreign" module has to be introduced explicitely into the current scope and that no tool is allowed to help with this introducing.
www.digitalmars.com /drn-bin/wwwnews?D/23317   (321 words)

 No. 1229: Double-Entry Bookkeeping
I doubt you ever expected to see double-entry bookkeeping on our list, but it is a profoundly important form of mathematics in our trade-driven world.
Scholars were learning the new mathematics of algebra -- that game where quantities are balanced across an equal sign -- where quantities are positive on one side and negative on the other.
But the section on double-entry bookkeeping was reprinted and translated, and it continued teaching accountants well into the 19th century.
www.uh.edu /engines/epi1229.htm   (516 words)

 Double Entry Bookkeeping   (Site not responding. Last check: 2007-10-18)
Double entry bookkeeping explained as simply as possible.
Double entry book keeping is a method of recording transactions, which allows a check on accuracy of the recording.
Providing the entries have been correctly recorded, when totalled both sides of the ledger should therefore agree.
homepages.ihug.co.nz /~lenbain/bk_kepg.htm   (675 words)

 double-entry bookkeeping Definition
Credit entries represent the sources of financing, and the debit entries represent the uses of that financing.
Since each credit has one or more corresponding debits (and vice versa), the system of double entry bookkeeping always leads to a set of balanced ledger credit and debit accounts.
Selected entries from these ledger balances are then used to prepare the income statement.
www.investorwords.com /1554/double_entry_bookkeeping.html   (197 words)

 MSJC - Catalog, ACCT Courses   (Site not responding. Last check: 2007-10-18)
This is the first of three 1-unit courses covering bookkeeping concepts and principles in completing the accounting cycle and preparing typical financial statements used in business.
This is the second of three 1-unit courses covering bookkeeping concepts and principles in completing the accounting cycle and preparing typical financial statements used in business.
This is the third of three 1-unit courses covering bookkeeping concepts and principles in completing the accounting cycle and preparing typical financial statements used in business.
www.msjc.edu /catalog/ay0102/programs/courses/acct.htm   (974 words)

 Double-entry bookkeeping
A system of recording all financial transactions, in which each transaction has two aspects, a debit and a credit, so that a complete record entails entering each transaction twice.
credit entries generally record the sources of funds and debit entries the use made of the funds.
The recording procedure of double-entry bookkeeping ensures that the balance-sheet equation Assets (A) = Liabilities (L) + Owners' Equity (OE) is not violated.
www.anz.com /edna/dictionary.asp?action=content&content=double-entry_bookkeeping   (277 words)

 Duncan Williamson: Books of Prime or Original Entry primebooks.html
This page assumes that you have some knowledge of the double entry bookkeeping system already so there is no detailed explanation of it.
The bookkeeper enters all of the details of all accounting transactions in a period: as we have seen.
The bookkeeper is a vital link in the accounting chain and this page has skimmed the surface of some of the things that the bookkeeper needs to do and to know to do the work that the accountant relies upon.
www.duncanwil.co.uk /primebooks.html   (1217 words)

 Fall 2003 - MVC - ACCT   (Site not responding. Last check: 2007-10-18)
This is a basic course in systematic record keeping of business transactions using the double entry bookkeeping system, and employing the use of both manual and computerized accounting software techniques.
This is the third of three 1-unit courses covering bookkeeping concepts and principles in completing the accounting cycle and preparing typical financial completing the accounting cycle and preparing typical financial statements used in business.
This course is an introduction to the principles and concepts of accounting as a basis for financial communication in an office or business, which includes double entry bookkeeping procedures, the accounting cycle and the use of microcomputers for small business.
www.msjc.edu /schedule/fall03/mvcfa03acct.htm   (676 words)

These scribes were bookkeepers, the scratchings records of temple wealth, records of tribute based on a barter system.
The evidence suggests that double entry bookkeeping was an invention of Italian merchants in the Genoa-Venice-Florence triangle in the 1200-1350 period, a Commercial Revolution [Mills, 1994].
Manucci obviously did not invent double entry, that was a 100 year process (perhaps a 9,000 year process).
acct.tamu.edu /giroux/FIRST.html   (5013 words)

 Accounting - Double Entry Bookkeeping   (Site not responding. Last check: 2007-10-18)
The method of double-entry bookkeeping, in which every event must be evidence for the application of double-entry bookkeeping derives from the
of double entry bookkeeping and remove developers to add double entry bookkeeping to their accounting tools.
Double entry does not mean that the same transaction is entered twice but that both the debit and the credit
www.accountingyes.com /DoubleEntryBookkeeping   (488 words)

 [No title]
We suspect that double- entry bookkeeping-or something very close to it-was in widespread use throughout Italy in the 1400s.
Although Pacioli did not invent double-entry bookkeeping, he described it in such detail and clarity in a monumental work published in 1494 that it immediately became the standard system for keeping accounts.
Wherefore they must begin all their transactions in the name of God and put his holy name on every account." He prefaced his own accounting records with "a name de dio" and often wrote "a sui laude et gloria (for the praise and glory of God)" at the end of his calculations.
college.hmco.com /accounting/resources/students/readings/01-weis.html   (1951 words)

 [No title]
Double entry accounting shows the development of a business very accurately and transparently (at least for those who have leasnred it) and is therefore good enough, even if it not easy to understand.
Under double entry, you get not only the assets the enterprise controls (cash, inventory, etc.), but also who has claims on these assets (wages for workers, loans from creditors, returns on equity for investors.)
Aliens have something which fills the function of double entry bookkeeping, but may be a different algorithm / mechanism.
www.chicagoboyz.net /archives/002144.html   (3164 words)

 Business 2005
The Bookkeeping System may be a manual or a computerized one.
Every entry made on the left side of the "T"-Account is called a Debit, or a Debit Entry.
This accounting book facilitates the initial entry in a chronological sequence of all transactions from the source documents.
www.bestbusinessinfo.com /1_3/tutorials/11303.htm   (1045 words)

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