An accounting technique which records each transaction as both a credit and a debit. 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.
Related information about double-entry bookkeeping:
- Double-entry bookkeeping system - Wikipedia, the free encyclopedia
A double-entry bookkeeping system is a set of rules for recording financial information in a financial accounting system in which every transaction or event ...
- Accounting Principles I: Double‐Entry Bookkeeping
Under the double-entry bookkeeping system, the full value of each transaction is recorded on the debit side of one or more accounts and also on the credit side ...
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Essex Junction, VT full-service bookkeeping firm specializing in small to medium- sized businesses.
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Double entry accounting offers several advantages over single-entry...
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May 31, 2011 ... 3min competition entry for AAT bookkeeping video competition http://bit.ly/m3lTBv (3mins... because that's what is says in terms and conditions.
- Double entry bookkeeping - The Free Dictionary
Noun, 1. double-entry bookkeeping - bookkeeper debits the transaction to one account and credits it to another. double entry · bookkeeping, clerking - the ...
- History of Double Entry Bookkeeping
Pacioli never claimed to have invented double entry bookkeeping. Thirty-six years before his monumental treatise on the subject, Benedetto Cotrugli wrote Delia ...
- What is double-entry bookkeeping? definition and meaning
Definition of double-entry bookkeeping: An accounting technique which records each transaction as both a credit and a debit. Credit entries represent the ...