why ; ?
Tower Ty
towerty at msn.com.au
Mon May 5 17:13:26 PDT 2008
Walter Bright Wrote:
>
> BTW, double entry bookkeeping, invented in the middle ages, was a huge
> advance in accounting. It essentially made everything redundant, which
> helped find and correct arithmetic errors. It spawned the term
> "balancing the books" which is nothing more than tracking down and
> reconciling all the errors. Without the redundancy, there'd be no way to
> balance the books because there'd be no way to detect errors.
Keep in mind that alongside double entry runs a system called single entry accounting which can be used instead. Usually it is used for smaller enterprises and avoids the duplication of double entry. Single entry accounting is what you would use to balance your petty cash or your cheque book
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