To use the double-entry system of accounting, companies must first determine the transaction and identify the related accounts.

Key Takeaways Double entry refers to an accounting concept whereby assets = liabilities + owners’ equity. In the double-entry system, transactions are recorded in terms of debits and credits.

A HISTORY OF double-entry accounting? Not a sexy prospect. The very idea evokes rows of half-starved, bent-over Dickensian clerks, with visors and arthritic hands, scribbling in giant, unending ...

Kellman re-engineered the traditional double-entry accounting model, building on the system's legacy first introduced in 1494 by Fr. Luca Pacioli. A 30-year engineering veteran, he earned two ...

Yet the invention of double-entry bookkeeping, which originated in Italy more than six centuries ago, is one of the great achievements of Western civilization.