The disadvantages are:- 1. It is time-consuming. 2. Specialist knowledge is needed to perform double-entry 3. A businesses administration costs will increase due to the need to recruit a book keeper.
state the principles of double entry
Contra entry
advantages of double-entry book-keeping system?
Double Entry Accounting is introduced by Lucas Paciolli
Double entry is a transaction in which the payment is established in two accounts instead of 1 as to single entry.
Christie Malry's Own Double-Entry was created in 1973.
There is no record of a machine that inspired the double-entry accounting method. Records show that double-entry accounting was inspired by existing accounting practices at the time.
journal
Christie Malry's Own Double-Entry has 193 pages.
There is no internal control, Mistake carryover
Tel me also advantages and disadvantages of Oligopoly?
what is the entry implies that