double-entry bookkeeping

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Related to double-entry bookkeeping: Book keeping
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.double-entry bookkeeping - bookkeeper debits the transaction to one account and credits it to another
bookkeeping, clerking - the activity of recording business transactions
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
References in periodicals archive ?
In New York this summer a book on double-entry bookkeeping will be auctioned by Sotheby's.
In the process of temporary administration, numerous violations of the law were revealed, namely, double-entry bookkeeping, tax evasion, according to which a number of criminal cases were launched against the management of Akif Firm, said lawyer Timur Janayev.
(2) At the start, double-entry bookkeeping served mainly a private function to track an owner's costs, revenues, and profitability.
The information is not from a general ledger maintained on the principles and practices of double-entry bookkeeping.Worse, the stock of all on-lent external debts are reported by industry making it difficult to see even rudimentary information such as who the borrower is and the terms of the borrowing.
That was when Italian merchants and bankers began using the double-entry bookkeeping method.
It applies to any innovation in how people transact business, from the introduction of digital currency to double-entry bookkeeping.
Around 1300, double-entry bookkeeping emerged as a key tool for tracking capital and liabilities across time and for evaluating investment quality.
I think they are very wrong, but at least they are now using double-entry bookkeeping, which makes meaningful disagreements possible.
The simple definition of fintech is the application of innovative technology to financial services and actually goes back to invention of double-entry bookkeeping.
Ever since the double-entry bookkeeping system was created in 1340, accountants and business owners have been focused on the fidelity of financial reporting systems.