0
WhAT IS THE Difference between double account system and double entry system?
Wiki User
∙ 11y ago
The difference between double account system and double entry systems are noted below:
1. Double account system is necessary only for Govt. service rendering org. but double entry system is applicable for all types of org.
2. In double account system balance sheet is divided into two part ie; Capital Account, and general balance sheet but in double entry system only one balance sheet is prepared.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
What is the Difference between single and double entry system?
So far as I know, Double Entry System and Double Account are not differing in the essential character. They only differ in the way the information is presented. What is presented in Double entry system as profit and loss account is presented in Double account system as Revenue account, Profit and Loss Appropriation account as Net revenue account and what is called Balance sheet is segregated into General balance sheet and Receipts and Expenditure on capital account. The difference in the presentation is also due to the fact that the two systems of accounting serve differing purposes. Double entry places emphasis on the Profits and losses and results of operations while Double account places emphasis on whether adequate provisions are made and whether reserves are sufficient.
Double account system?
Type your answer here double accout system is the system where all the entry has to be kept as a double. ...
What is double entry system in account?
It has to accont debit and credit. Both must be equally
What is the difference between iqtas system and jagirs?
a
Why the trial balance always be in balance?
Trial balance is always balance because of every entry in double entry system is in balance as related to debit account and credit account.
What is the Difference between single and double entry system?
So far as I know, Double Entry System and Double Account are not differing in the essential character. They only differ in the way the information is presented. What is presented in Double entry system as profit and loss account is presented in Double account system as Revenue account, Profit and Loss Appropriation account as Net revenue account and what is called Balance sheet is segregated into General balance sheet and Receipts and Expenditure on capital account. The difference in the presentation is also due to the fact that the two systems of accounting serve differing purposes. Double entry places emphasis on the Profits and losses and results of operations while Double account places emphasis on whether adequate provisions are made and whether reserves are sufficient.
Double account system?
Type your answer here double accout system is the system where all the entry has to be kept as a double. ...
What is the difference between single and double pithing?
single destroys the brain and double destroys the spinal cord or central nervous system
What is the difference between cropping system and farming system?
difference between farming system and cropping system
Difference between system software and operating system?
difference between operating system and system software?
What is the difference between barter system and double coincidence of wants?
The double coincidence of wants is one of the major part of the Barter System.The two basic terms actually don't have any specific difference.
What account system India follow?
India follows double entry accounting system
What is the difference between global and territorial system of taxation?
global tax mean there is double taxation, but at territorial there is one tax only
What is the difference between single and double cicrulatior system?
In double circulatory system the blood travels trough the heart twice in it's way around the body, while in the single it only goes through the heart once.
What is the difference between electronic clearing system and standing instruction?
Actually, ECS works upon standing instruction. So there is no difference between them , A standing instruction can be issued to the bank where a customer holds a account to debit/credit . In ECS you issue a mandate to the bank which debits your account periodically in case of ECS-Debit.
What is the difference between end-user systems and organizational systems?
the difference between end user system and organisational system
Difference between a human being and an elephants digestive system?
Difference between a human being and an elephants digestive system?
