All businesses whether they use the cash basis accounting method or the accrual accounting method use double entry bookkeeping to keep their books double entry accounting is a practice that helps minimize errors and increases the chance that your books balance this method gets its name because . Accounting attempts to record both effects of a transaction or event on the entitys financial statements this is the application of double entry concept without applying double entry concept accounting records would only reflect a partial view of the companys affairs. Introduction to bookkeeping and accounting this free course is available to start right now review the full course description and key learning outcomes and create an account and enrol if you want a free statement of participation. Get this from a library the science of double entry book keeping simplified by the introduction of an infallible rule for dr and cr calculated to insure a complete knowledge of the theory and practice of accounts c c marsh
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