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His accounting system consisted of journals and ledgers. It rested on the invention of double-entry bookkeeping. Debits were on the left side because that??s what ?°debit?± meant, ?°the left?±. The numbers on the right were named ?°credits?±.
If everything was done right, then the bookkeeper could do a trial balance (?°summa summarium?±). Add up all the debits and then add up all the credits, he said. If everything had been done right, the totals should match. If not, ?°that would indicate a mistake in your Ledger, which mistake you will have to look for diligently with the industry and intelligence God gave you...
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Common topics in this essay:
- HISTORY OF ACCOUNTING
- A Brief History Of Accounting
- Accounting History
- Advantages and disadvantages of historical cost accounting, alternatives to historical cost accounting
- An Interface Between Financial Accounting And Cost & Management Accounting And Some Concepts Of Strategic Cost Management
- discuss the role of the financial accounting and managerial accounting functions in organizations
- History and development of accounting standards
- Lean Accounting and the Basics of Accounting
- Managerial Accounting Vs Financial Accounting
- Managerial accounting vs Financial accounting
- Principles-Based Accounting And Rules-Based Accounting
- The Differences Between Financial Accounting And Management Accounting
- The History of Accounting
- The History of Accounting
- The theries we use to help us understand standard setting in national arenas don't work so well at the international level where the international accounting starndards board is taking a lead role. We will have to modify them or expand our theoret...
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