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Double-entry bookkeeping system

Index Double-entry bookkeeping system

Double-entry bookkeeping, in accounting, is a system of bookkeeping so named because every entry to an account requires a corresponding and opposite entry to a different account. [1]

42 relations: Accounting, Accounting equation, Allen & Unwin, Amatino Manucci, Audit trail, Basic Books, Benedetto Cotrugli, Bookkeeping, Debits and credits, Della mercatura e del mercante perfetto, Financial transaction, Florence, Franciscans, General ledger, Genoa, Giovanni di Bicci de' Medici, GnuCash, Goryeo, Italian language, Kaesong, Lady Justice, Lübeck, Ledger, Leonardo da Vinci, Luca Pacioli, Mathematics, Medici Bank, Modern history, Momentum accounting and triple-entry bookkeeping, Moneylender, Nîmes, Normal balance, Nostro and vostro accounts, Republic of Genoa, Republic of Ragusa, Roman Catholic Archdiocese of Arles, Single-entry bookkeeping system, Summa de arithmetica, Textbook, Treasurer, Trial balance, Venice.

Accounting

Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations.

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Accounting equation

The basic accounting equation, also called the balance sheet equation, represents the relationship between the assets, liabilities, and owner's equity of a business.

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Allen & Unwin

Allen & Unwin is an Australian independent publishing company, established in Australia in 1976 as a subsidiary of the British firm George Allen & Unwin Ltd., which was founded by Sir Stanley Unwin in August 1914 and went on to become one of the leading publishers of the twentieth century.

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Amatino Manucci

Amatino Manucci gave us the earliest extant accounting of double-entry bookkeeping.

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Audit trail

An audit trail (also called audit log) is a security-relevant chronological record, set of records, and/or destination and source of records that provide documentary evidence of the sequence of activities that have affected at any time a specific operation, procedure, or event.

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Basic Books

Basic Books is a book publisher founded in 1952 and located in New York, now an imprint of Hachette Books.

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Benedetto Cotrugli

Benedetto Cotrugli (Benedikt "Beno" Kotruljević; 1416–1469) was a Ragusan merchant, economist, scientist, diplomat and humanist.

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Bookkeeping

Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business.

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Debits and credits

In double entry bookkeeping, debits and credits (abbreviated Dr and Cr, respectively) are entries made in account ledgers to record changes in value resulting from business transactions.

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Della mercatura e del mercante perfetto

Della mercatura e del mercante perfetto written by Benedetto Cotrugli around 1400 was the first bookkeeping manuscript and trade manual.

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Financial transaction

A financial transaction is an agreement, or communication, carried out between a buyer and a seller to exchange an asset for payment.

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Florence

Florence (Firenze) is the capital city of the Italian region of Tuscany.

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Franciscans

The Franciscans are a group of related mendicant religious orders within the Catholic Church, founded in 1209 by Saint Francis of Assisi.

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General ledger

A general ledger contains all the accounts for recording transactions relating to a company's assets, liabilities, owners' equity, revenue, and expenses.

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Genoa

Genoa (Genova,; Zêna; English, historically, and Genua) is the capital of the Italian region of Liguria and the sixth-largest city in Italy.

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Giovanni di Bicci de' Medici

Giovanni di Bicci de' Medici (c. 1360 – 20/28 February 1429) was an Italian banker and founder of the Medici Bank.

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GnuCash

GnuCash is an accounting program that implements a double-entry bookkeeping system.

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Goryeo

Goryeo (918–1392), also spelled as Koryŏ, was a Korean kingdom established in 918 by King Taejo.

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Italian language

Italian (or lingua italiana) is a Romance language.

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Kaesong

Kaesong or Gaeseong is a city in North Hwanghae Province in the southern part of North Korea, a former Directly Governed City, and the capital of Korea during the Taebong kingdom and subsequent Goryeo dynasty.

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Lady Justice

Lady Justice is an allegorical personification of the moral force in judicial systems.

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Lübeck

Lübeck is a city in Schleswig-Holstein, northern Germany, and one of the major ports of Germany.

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Ledger

A ledger is the principal book or computer file for recording and totaling economic transactions measured in terms of a monetary unit of account by account type, with debits and credits in separate columns and a beginning monetary balance and ending monetary balance for each account.

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Leonardo da Vinci

Leonardo di ser Piero da Vinci (15 April 14522 May 1519), more commonly Leonardo da Vinci or simply Leonardo, was an Italian polymath of the Renaissance, whose areas of interest included invention, painting, sculpting, architecture, science, music, mathematics, engineering, literature, anatomy, geology, astronomy, botany, writing, history, and cartography.

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Luca Pacioli

Fra Luca Bartolomeo de Pacioli (sometimes Paccioli or Paciolo; 1447–1517) was an Italian mathematician, Franciscan friar, collaborator with Leonardo da Vinci, and a seminal contributor to the field now known as accounting.

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Mathematics

Mathematics (from Greek μάθημα máthēma, "knowledge, study, learning") is the study of such topics as quantity, structure, space, and change.

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Medici Bank

The Medici Bank (Italian: Banco dei Medici) was a financial institution created by the Medici family in Italy during the 15th century (1397–1494).

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Modern history

Modern history, the modern period or the modern era, is the linear, global, historiographical approach to the time frame after post-classical history.

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Momentum accounting and triple-entry bookkeeping

Momentum accounting and triple-entry bookkeeping is an alternative accountancy system developed by Yuji Ijiri and is the title of the 1989 monograph that he wrote.

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Moneylender

A moneylender is a person or group who typically offers small personal loans at high rates of interest and is different from banks and financial institutions that typically provide such loans.

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Nîmes

Nîmes (Provençal Occitan: Nimes) is a city in the Occitanie region of southern France.

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Normal balance

Normal balance is the accounting classification of an account.

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Nostro and vostro accounts

Nostro and vostro (from Italian, nostro and vostro; English, 'ours' and 'yours') are accounting terms used to distinguish an account held for another entity from an account another entity holds.

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Republic of Genoa

The Republic of Genoa (Repúbrica de Zêna,; Res Publica Ianuensis; Repubblica di Genova) was an independent state from 1005 to 1797 in Liguria on the northwestern Italian coast, incorporating Corsica from 1347 to 1768, and numerous other territories throughout the Mediterranean.

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Republic of Ragusa

The Republic of Ragusa was a maritime republic centered on the city of Dubrovnik (Ragusa in Italian, German and Latin; Raguse in French) in Dalmatia (today in southernmost Croatia) that carried that name from 1358 until 1808.

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Roman Catholic Archdiocese of Arles

The former French Catholic Archbishopric of Arles had its episcopal see in the city of Arles, in southern France.

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Single-entry bookkeeping system

A single-entry bookkeeping system or single-entry accounting system is a method of bookkeeping relying on a one sided accounting entry to maintain financial information.

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Summa de arithmetica

Summa de arithmetica, geometria, proportioni et proportionalita (Summary of arithmetic, geometry, proportions and proportionality) is a book on mathematics written by Luca Pacioli and first published in 1494.

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Textbook

A textbook or coursebook (UK English) is a manual of instruction in any branch of study.

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Treasurer

A treasurer is the person responsible for running the treasury of an organization.

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Trial balance

A trial balance is a list of all the general ledger accounts (both revenue and capital) contained in the ledger of a business.

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Venice

Venice (Venezia,; Venesia) is a city in northeastern Italy and the capital of the Veneto region.

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References

[1] https://en.wikipedia.org/wiki/Double-entry_bookkeeping_system

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