Double-entry accounting is a system of recording transactions in two parts, debits and credits. Learn how to apply it here.

For example, in a cash sale transaction using the double-entry system, a company makes a debit to the cash asset account, which is a debit account, to increase the amount of cash received from the ...

One of the merits of the double-entry system is that any transaction has two equal and opposite effects on business finances. For example, let's say that a company buys a machine to manufacture a ...

Double-entry accounting is a bookkeeping method that records two entries (one debit and one credit) for each business transaction.

Impact The introduction of double-entry accounting marked a significant milestone in the evolution of ledger systems and has had a lasting impact on the accounting field.

Kellman re-engineered the traditional double-entry accounting model, building on the system's legacy first introduced in 1494 by Fr. Luca Pacioli.

It was the first description of double-entry bookkeeping to be set out clearly, in detail and with plenty of examples.

Gleeson-White offers a lively and elegantly written account of the history of double-entry bookkeeping. Though the topic hardly sounds intriguing, the author makes ledgers and numbers come alive.