Synopsis This essay explore the definition of the term “Double Entry accounting”, its processes and procedures. I will examine the five step of the double entry method in detail, and will compare and contrast this method to that of single entry accounting. The analysis concludes that with a discussion of the advantages of Double Entry and the reasons why this method has survived for so long. After complete this “Like most good ideas, the idea behind the double entry method is very simple. Describe the double entry method identify its advantages, and explain why the methods has survived so long” Double entry is an accounting methodology used to make sure that all accounts are properly balanced. This is a rather simplistic description of this system of bookkeeping. Accounting and Bookkeeping is the process of identifying, measuring, recording and communicating economic information ab....

Number Of Pages: 4

Number Of Words: 848

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