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Essay

accounting

Essay specific features

 

Issue:

Business

 

Written by:

Megan S

 

Date added:

April 7, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

5 / 1143

 

Was viewed:

6345 times

 

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Essay content:

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”)...
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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.” He wrote. Experience Before computers came along Jack had never got a trial balance right the first time...
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