Double entry: Difference between revisions
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imported>Doug Williamson m (Spacing) |
imported>Doug Williamson (Categorise page.) |
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* [[Journal entry]] | * [[Journal entry]] | ||
* [[Off-balance sheet finance]] | * [[Off-balance sheet finance]] | ||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:Compliance_and_audit]] | |||
Revision as of 17:47, 9 November 2013
- Accounting. The dual aspect concept that every accounting transaction has two sides. (Therefore the balance sheet should always remain in balance.) For example, if services are sold by a company for cash, the company's Sales figure increases AND its Cash increases. Taking another example, if a company borrows money, its Cash increases AND its Liabilities (to repay the money in the future) also increase.
- An error resulting from the inappropriate duplication or inappropriate repetition of an entry or part of an entry, in a financial information system or elsewhere.
